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September 30, 2022

President Iohannis sends message to BestInvest Forum: U.S. can become one of top investors in Romania

The United States can become one of the top investors in Romania in the years to come, President Klaus Iohannis said in a message sent to the opening of economic forum BestInvest organised in New York.

“The U.S. investments are welcome in Romania. We are confident in the fact the United States can become one of the top investors in Romania in the years to come. The Romanian economy benefits from important advantages: sustained growth, financial and monetary stability, low public debt, well-trained labour as well as many natural resources. Romania represents an element of stability for the entire region”, said the message presented by the president’s economic advisor Cosmin Marinescu that was released by the Presidential Administration to the press on Monday.

Iohannis said trade between Romania and the U.S. is on an upward trend and this is a clear sign of progress, but in order to make good use of the existing economic opportunities, first we need to remove the barriers raised to the free trade and the efficient investments.

The head of state reiterated the importance of the bilateral relations between Romania and the U.S. “At the same time, this is a very good opportunity to express our confidence that the cooperation relations between Romania and the United States of America will keep being as strong as at present. We celebrate four years since the adoption of the Strategic Partnership between Romania and the United States. This Partnership has brought numerous benefits to our bilateral relations, particularly with respect to security. Its importance, however, should not be limited to the security dimension only. The economic dimension must gain the same essential importance”, Iohannis said.

According to the president, Romania needs a new economic development model based on competitiveness and responsibility. “Such a model should at least leave behind some illusions: firstly, the illusion that prosperity can be built on deficits and public debt; then the illusion that the financial policies can compensate the absence of real reforms and, finally, the illusion that prosperity, once obtained, will no longer be lost”, he underscored.

Iohannis stressed the investors’ confidence can be regained only by improving the institutional quality of the business climate. “This thing involves the protection of property, curbed bureaucracy, more efficient public administration and combating graft. It is only this way that we can support the private capital and can encourage the efficient economic players, who expect a fair relation between the state and the economic environment”, he added.

The Romanian leader underscored that the energy sector has strategic importance and the Romanian capital market has high investment potential.

“The bilateral cooperation will certainly be extended amid the Transatlantic Trade and Investments Partnership (TTIP) – the biggest free trade agreement negotiated so far. As you know, Romania backs the Transatlantic Trade and Investments Partnership. Opening the markets and freedom of exchanges always represent the best means to promote economic prosperity”, Iohannis’s message says.

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