Ooni Koda
  1. Home
  2. /
  3. Newsfeed
  4. /
  5. Telecom. IT : IT industry accounts for...

Telecom. IT : IT industry accounts for 8% of Romania's GDP; AI technology is the future

June 12, 2024

The IT sector in Romania is making up 8% of the Gross Domestic Product (GDP), being one of the industries with the highest added value in the country, Minister of Research, Innovation and Digital Transformation Bogdan Ivan told the International Summit & Gala Award 2024 on last Wednesday."When we talk about AI and related technologies, we talk about the future, and right now, we're not just in a local or regional race, but in a global race. In my opinion, we should be focused on what we can do together, because, at the same time, we are part of the European Union, and we should share good practices with each other. Currently in Romania, the IT sector is making up over 8% of GDP, being one of the industries with the highest added value in the country (...) In the last five years, annual growth has been 2.5% and now the entire industry brings in almost EUR 9 billion every year. It is very important to have that open co-operation between the public and private sectors. Currently, we do not have a digital administration in Romania, because we still have the same architecture as 50 years ago and for this, we have over EUR 6 billion. I would like to thank ANIS and other specialists for their very good co-operation over the government cloud. We will start a public procurement procedure for the single application of the government with all over 30 public services by the end of 2024," Ivan said.He also brought up the disinformation part amid a year with many elections that will take place both in Romania and globally."We have a very important year, with four rounds of voting, and we need a very important tool to act in real time to counter disinformation. Because we have over two billion people who will choose leaders in 2024 worldwide. In Romania, we have elections for the local administrations to the European Parliament, the presidential and general elections. It is about our future and our democracy (...). A second topic regards innovation and certainly when we talk about innovation we have in Parliament the Romanian innovation strategy. We will have the beginning of the entire research framework and bring researchers to the same level as professors in universities. We are talking about a strong commitment on the part of the Romanian Government to bring value to research."Romania's Employers' Association of the Software and Services Industry (ANIS) organised the International Summit & Gala Award event, where the Excellence Awards of the IT Industry in Romania were awarded.At this year's edition of the competition, 26 proposals from 20 companies advance to the final stage.Established in 1998, ANIS represents the interests of Romanian IT companies and supports the development of the local software and services industry, the growth of both companies involved in outsourcing projects and those generating intellectual property by creating products. ANIS has over 170 members, representing both companies with Romanian and foreign capital, small or multinational companies, with headquarters in all major IT hubs in the country.ANIS members generate a significant number of highly qualified jobs. With a representation of over 65% of the total revenues generated by the IT industry at national level and approximately 42% of the total employees of the IT industry in Romania.

Read in full - click here
Project: Romania to allow 16 to 18-year-olds to create and manage new type of company

Young people aged between 16 and 18 in Romania will be able to establish and manage a new type of limited liability company (S.R.L.), which will be called a "firmă de exercițiu" (practice firm) and will have the abbreviation "S.R.L.-F.E.", according to a new project.  A young person will be able to establish or acquire […]

Skanska sells office building in Bucharest to fund managed by Hungary's Gránit Asset Management in EUR 52 million deal

Developer Skanska has signed an agreement to sell the first phase of the Bucharest office complex Equilibrium to Gordiusz Private Equity Fund, managed by Gránit Asset Management. The transaction value amounts to EUR 52 million. The Equilibrium office complex consists of two buildings in the business district Floreasca – Barbu Vacarescu. The first phase, which […]

Asmik Grigorian, Sonya Yoncheva, Kristine Opolais among artists set to perform at this year's Enescu Festival

This year's edition of the George Enescu International Festival, the largest classical music event in the country, will feature performances from some of the top sopranos and mezzo-sopranos of the moment. Among them are Asmik Grigorian, Sonya Yoncheva, Kristine Opolais, Magdalena Kožená, Julia Lezhneva, Sarah Aristidou, Jennifer Holloway, Aylin Perez, Elsa Dreisig, Rachel Willis-Sørensen, Ruxandra […]

Romanian asset management company to launch new energy-financial ETF

Globinvest, an asset management company from Cluj-Napoca, is set to launch an exchange-traded fund, or ETF, grouping together companies in the energy sector and several financial companies.  Globinvest, a company with 30 years of experience on the Romanian capital market, will list the new entity on April 28 under the symbol GIBEFETF. Ilie Cenan, Chairman […]

AI-powered data security company founded by Romanians reaches USD 1 billion valuation

Cyberhaven, an AI-powered data security provider founded by three Romanians and two Ukrainian citizens, recently announced that it has attracted a USD 100 million Series D funding led by StepStone Group along with new investors Schroders and Industry Ventures, to further accelerate its rapid growth. The funding pushes the valuation of the company to USD […]

Presidential campaign officially kicks off in Romania, will end on May 3

The electoral campaign for the presidential elections began on Friday, April 4, at midnight, with most of the candidates posting on social media within the first minutes.  Far-right candidate George Simion, credited with the first shot at winning the first round according to the latest surveys, began the election campaign alongside his wife and supporters, […]