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Bucharest
March 7, 2021
BUSINESS

‘Romania, industrial center of Eastern Europe’

Industrial production growth, argument for reaching goal

The increase of industrial production, the workforce with high productivity, but also the fact that the industry contributes by a third to GDP are just some of the minimal arguments for reaching the tactical objective ‘Romania – industrial center of Eastern Europe’, prime minister’s counsellor Cristian Socol said in a release sent to Agerpres on Tuesday.
‘Romania can become the top economy of Eastern Europe by stimulating the competitive advantages we benefit from. The industrial production growth by 9.7 percent in the first seven months of 2014 compared to the same period in 2013, the fact that the industry contributes by a third to the GDP, the existence of clusters for competitiveness in IT in Romania, equipment, the automotive, food and pharmaceutical industries, the workforce with high productivity and the huge potential for accessing European funds through the Operational Sectoral Programme Raising Economic Competitiveness can be considered minimal arguments for achieving the tactical objective Romania – industrial center of Eastern Europe,’ claims Cristian Socol.
In his opinion, the data released on Tuesday by the National Institute of Statistics prove the positive path of the Romanian industry.
‘New orders in industry surged by 6.1 percent in the first 8 months of 2014 compared to the same period of 2013. Increases were also recorded in all major industrial product groups: the durable goods industry (+29.4 percent), the intermediate goods industry (+8.1 percent), the consumer goods industry (+7.6 percent) and the capital goods industry (+3.7 percent),’ Cristian Socol argues.  According to him, the relevant fact is that the industries producing goods with high value added register the highest growth rate in orders.
‘Thus, the companies that produce computers, electronic and optical products, electrical equipment, cars, tools and equipment register orders higher by 17 -18 percent compared to the same period of 2013. We still stake on the polycentric approach based on the poles of competitiveness, innovative clusters, technological and industrial parks and encouraging the creation of business hubs. We are targeting a different model of industrial policy focused on the transition from intensive industries in low-skilled labour force and low-processing industries towards innovative industries, energy and eco-friendly industries,’ the PM’s counsellor underscored.
He argues that the state aid schemes adopted last month to boost the industry will contribute to reaching this objective.
‘The aid scheme aimed at boosting investments that create jobs, under which the state will bear half of the total salary expenditures (depending on the region) for two years, for the companies that create 10 jobs minimum through investments (budget of 600 million euros, an estimated number of beneficiaries of 1,700 companies, estimated number of new jobs of at least 35,000). The state aid scheme for enterprises valid until 2020, with a total budget of 2.7 billion lei (600 million euros) for the non-reimbursable funding of costs with tangible and intangible assets related to the initial investment, the payment being made in the period 2015-2023. We estimate there will be a number of 150 applications from companies that will revamp their production,’ said Cristian Socol.

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