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December 8, 2022

Economic competitiveness three times lower in Romania compared to European average

Romania ‘s competitiveness index is of 0.31, compared to 1, the average reference index in the European Union, said yesterday Adrian Ciocanea, State Secretary in the Ministry of Economy, in a press conference occasioned by the launch of a public debate on the National Competitiveness Strategy , Agerpres reports. ‘Romania currently has three vulnerabilities : energy efficiency, the innovation index and productivity index in manufacturing. From 100 largest exporting companies of the country, that cover 52 percent of total exports, 96 are foreign companies. Of the 34 industrial sub-branches, 25 have major foreign capital’, said Ciocanea. Also, of the total turnover of companies in Romania, 72 percent is produced by multinationals branches here, he added. ‘The highest competitiveness index is in Arges County, followed by Bucharest and Timisoara. With regard to exports , 17 percent are from Bucharest, 10 percent from Arges , 9 percent from Timis, 5 percent from Constanta , 4 percent from Bihor. The counties of Calarasi, Ialomita , Mehedinti , Neamt , Olt and Teleorman do not have high technology exports’, Ciocanea also said. ‘We would especially like to find out the views of the private sector, trade unions and of society in general, I refer especially to the research and innovation side’, added the Secretary of State. In turn, Andrei Gerea, Minister of Economy, said that the competitiveness index increased from 0.13 in 1991 to 0.29 in 2007 and 0.31 this year. ‘We want to favorably position for 2050 . We must get accustomed to think in the medium and long run, that’s the only way to solve the economic problems and those related to the living standard’, said Gerea. The Minister also said that the National Industrialization Strategy will be ready by the middle of next year. ‘Discussions are under way with industry representatives to have an adequate industrial policy.

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