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September 30, 2022

Romanian companies reticent about investments abroad

The Romanian companies have not been encouraged to invest abroad, Economy Ministry’s State Secretary Manuel Donescu told a news conference, on Friday, Agerpres reports. “There are many reasons for this, and one of them is the lack of a programme whereby they should not only be encouraged to export but also to invest abroad,’ said Donescu. According to him, the Economy Ministry’s structures in charge with the promotion of the foreign trade must offer assistance and aid to any Romanian company willing to export or invest abroad. ‘A better mutual knowledge would help,’ added Donescu. He announced that in the context, a Romanian company is making preparation to supply train carriages to Brazil, base on an agreement amounting to EUR 160 M. The delivery of the first batch of carriages is in progress. The agreement was signed last year, and it will annually contribute USD 100 M to Romania’s exports. Moreover, the Company is to invest USD 20 M in a factory where the equipment is assembled. We persuaded them it would be more efficient to transport and to assemble the equipment there. Costs are lower and the profit higher,’ Economy Ministry official stressed. Donescu also pointed out that Romania’s current investments abroad amount to EUR 1 bln.

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