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October 25, 2020
BUSINESS

Great Mega Mission 2015: More than 50 British companies visited Bucharest. Romania, Great Britain, compatible in development of some important economic projects

Romania and Great Britain are compatible in the development of some joint economic projects in important areas such as oil and natural gas, nuclear energy, transport and environment, the British Ambassador in Bucharest, Paul Brummell said on Tuesday on the occasion of Prime Minister Victor Ponta’s receiving a delegation of British businesspeople paying an official visit to Bucharest.

I am proud to accompany here, in Romania, the largest British trade delegation since the Revolution. We know that Romania has very concrete and very ambitious plans in terms of infrastructure development. Here, for example, you have a Master Plan transport infrastructure approved, which is concrete and ambitious. That it is why, we have invited British companies operating in four important areas: oil and natural gas, nuclear energy, transport, water and environment, because we know that Romania has very big plans in these areas. Great Britain can help Romania in these areas. My most important message today is that Romania and Great Britain are compatible, said the British Ambassador at Victoria Palace.

In his turn, the head of the British business delegation, Brian Wilson, the Commercial Ambassador of the British Governmental Agency for Trade and Investment, gave assurances that British investors would pursue, in the projects intended to be developed, helping Romania spend as effectively as possible the funds received from the European Union.

Romania, as many other countries in Central and Eastern Europe, has at its disposal an extraordinary development resource, namely accessing and successfully using European funds. It is in both in the interest of Great Britain, as well as of the countries in Central and Eastern Europe that the British industry play a key role in this upgrading process, said Commercial Ambassador Brian Wilson.

The British official also pointed out the fact that 90% of Romania’s young people speak English, which creates a great opportunity for the development of a natural partnership with Romania.

Also attending the event, held at Victoria Palace, alongside Prime Minister Victor Ponta, were Economy Minister Mihai Tudose and Energy Minister Andrei Gerea.

In his turn, the head of the trade delegation from London, Brian Wilson, mentioned that Romania has organisational capacity and that the British companies are ready to invest here.

 

Romania has an extraordinary development potential

 

‘Romania has an extraordinary development potential. The British companies are ready to help Romania’s economy, so that the exchanges really matter. The British industry must play a key-role in the modernisation process of Romania,’ said Wilson.

More than 50 British companies visited Bucharest on March 9 and 10, as participants in the largest British trade mission in Romania since the Revolution of 1989. The initiative, aimed at stimulating trade exchanges between Romania and UK, was headed by Brian Wilson, Business Ambassador of the UK Trade and Investments (UK) organisation.

The mission is part of a more ample programme envisaging the doubling of the trade transactions between UK and the Central and Eastern Europe (ECE) up to 30 billion pounds, until 2020. The Great Mega Mission 2015 delegation explored the local opportunities in such business sectors as public transportation, water resources management, environment, nuclear energy, oil and natural gas.

Bilateral trade between Romania and UK reached up to 3 billion euros in 2014, with British investment in Romania having reached up to 6.5 billion euros.

 

PM Ponta: Presence in Romania of American, British or European investments offer guarantee of developing some “win-win” situations

 

Prime Minister Victor Ponta said on Tuesday, at Victoria Palace, that the presence in Romania of American, British or European investments represents a guarantee for the development of some business partnerships of “win-win” type, profitable and sustainable ones, and these should use Romania’s “young and trained generation.”

“I would like to emphasize the most important ‘treasure’ of Romania, its human resource. There is an impressive number of young people trained and ambitious, graduates of some universities in Romania, which are becoming increasingly competitive. It is a strategic objective for any prime minister or political leader, younger or older, to find a way for this golden generation to stay in Romania, not only to create for them the opportunity to have good jobs and a better life somewhere in America or in Great Britain, in Western Europe. And thanks to the American, British and European investments, the businesses developed here will be of win-win type, profitable and sustainable, and will be able to meet this strategic objective to use our great ‘treasure,’ represented by this young and trained generation,” said Ponta, who has received a delegation of British businesspeople.

Victor Ponta mentioned in this context the importance of developing in Romania of some sectors such as IT, infrastructure, energy, agriculture, which, according to him, have become increasingly competitive, and recommended that British companies invest in these areas.

The prime minister has also referred to the tax legislation, having mentioned the 16% flat tax and the continuation of the tax relief process for companies in the coming period, through the planned reduction in VAT and in the costs related to workforce. He has told investors that Romania is a stable and predictable country and that it provides guarantees in this regard, in a “sensitive and sometimes unstable” region, with a big neighbour to the East, “a big bear”, which creates problems to countries such as Ukraine, the Republic of Moldova and Georgia.

Referring to the recent period, the Romanian prime minister pointed out that, after a difficult period of crisis, from 2009 to 2011, which hit most European countries and created large economic and social problems, since 2012, Romania has recorded a significant economic growth, with an average of some 3%.

The prime minister underscored the fact that, compared to 2012, when the situation regarding European funds was a “real shame,” given the low intake rate of only 10%, at present the Romanian authorities have succeeded in successfully increasing this rate to 55%, which is still unsatisfactory, as there are funds still not spent.

 

 

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