According to Florin Jianu, President of the Young Romanian Entrepreneurs’ Association (PTIR), Romania will become an attractive country investment-wise after the introduction of the new Fiscal Code, however simplifying red tape in what concerns businesses should not be currently neglected.
In an interview for Agerpres, the PTIR President stated that the recently adopted Business Angels Law, alongside other laws such as the new entrepreneur law, the business incubators/accelerators law or the crowdfunding law are creating the framework of an extremely modern business ecosystem in Romania.
Through the facilities offered, namely three-year tax waiver for dividends and exits (the sale of business angel shares after a minimum period of three years), the Business Angels law is the most modern law in Europe at this moment. This law will attract both Romanian investors and mostly foreign investors. A new era for Romanian entrepreneurship also means that Romania can become a strong regional actor, attracting start-ups from South East Europe as a whole through these modern instruments. “In the first year I estimate investments in 500 companies (with a growth rate of 100 per cent in that number in the first five years), which will attract investments ranging from EUR 5 to EUR 10 M,” Jianu said.
The domains that feature a high degree of innovation will attract individual investments: IT, creative industries (design, architecture, gaming), bio-technologies, nano-technologies, but also tourism, health, agriculture or manufacturing. In fact, the aforementioned domains are included in the SMEs 2020 strategies or in the competitiveness strategies.