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October 7, 2022

President Iohannis promotes in Luxembourg business opportunities in Romania

On Tuesday – the second day of his state visit to Luxembourg – President Klaus Iohannis promoted business opportunities in Romania at an event hosted by the Duchy’s Chamber of Commerce, stressing that Romania’s goal is to advance to an emerging market status.

“The presence of Luxembourg companies is welcome in Romania, because our present and future cooperation will result in major benefits for both countries. There are good business opportunities in Romania, as our country benefits by a good macroeconomic framework, with an economic growth forecast over four per cent in 2016, one of the highest rates of economic growth in the European Union – except, perhaps, the Grand Duchy of Luxembourg, who has five percent. Also, the public debt level is below 40pct of the GDP, one of the lowest in the EU,” the President said, according Agerpres.

He emphasized the attractiveness of Romania’s capital market, which is growing in terms of capitalization. “Also, it meets the necessary criteria to be promoted to the status of emerging market. This goal will surely be reached in the coming years. An increasingly flexible labour market adds to it. Moreover, Romania promotes the business milieu’s suggestions for the creation of a dual education system, which should produce more professional skills to cover the economy’s needs,” he said.

Iohannis also pointed out Romania’s leading position in Internet speed in the EU, with broadband access ranked second, and the competitiveness of the labour force.

“More than 25pct of Romania’s graduates will have a technical specialization, and another quarter a specialization in economy and business. We have 7,000 IT&C graduates every year, adding to a total of 90,000, with forecasts of over 100,000 by 2018; 90pct of Romanian students have a command of English, 26pct – of French, 17pct – of Spanish, and only 8pct of German. All these strong points, added to our monetary and financial stability, are a guarantee for investors that Romania is an excellent target for long-term investments. This is illustrated by the recent evolution of foreign direct investments, which had a significant advance of approximately 17pct in 2015. It should be noted that half of these investments were of greenfield type,” he detailed.


“ I’d want partnership between Luxembourg University, Romanian universities to consolidate”


Romania’s President Klaus Iohannis wants the partnership between the University of Luxembourg and Romanian universities to get consolidated, calling the Luxembourg University an example for academic hub.

“The University of Luxembourg is a model for university education internationalisation, as it hosts students from more than 115 countries. I am glad that Romania has an honourable representation in this framework and I want to congratulate you on your academic and professional career. That is why I want the consolidation of the partnership between the University of Luxembourg and universities in Romania, the takeover of good practices and the development of academic and research networks. I believe that will contribute to the ‘Educated Romania’ project currently underway in Romania that regards the future of Romania’s education and research system,” Iohannis told a meeting with Romanian undergraduate and graduate students studying at the University of Luxembourg.

In his opinion, developing ties between Romanian researchers and professors and foreign counterparts is very important.

Iohannis said that the University of Luxembourg is an example of academic centre that successfully carries out its fundamental missions of teaching and research, thus contributing toward a knowledge transfer to the society.

“Our shared objectives is improving life quality, whether it is medicine or information technology. The performance of this young university, currently ranked in the world’s top 20 among the universities established over the past 50 years, is impressive and it is proof of the high performance of the academic community and the university’s faculty,” said Iohannis.

He said he is impressed by the Belval complex that houses the University of Luxembourg, saying about it that it is a special space, a combination of industrial architecture and innovative features that provides a special place for learning and socialisation.

“I want to congratulate the management of the university as well as the public administration for their courage and inspiration to invest into a European emblem of the knowledge-based society,” said Iohannis.

He toured the Belval Complex together with his wife Carmen. Also attending the meeting was Grand Duke Henri.

At the end of the meeting, Iohannis told the attending Romanian students in Luxembourg that he is anxiously waiting or their return home.

“I have told them to return to Romania so that we are not alone,” said Carmen Iohannis.

“That is what we are getting involved for,” the President concluded.


Luxembourg’s prime minister to pay visit to Romania this year


Luxembourg Prime Minister Xavier Bettel announced on Tuesday that he will pay a visit to Romania this year.

“The economy minister will pay an economic visit, with an extended delegation, to Romania, but I will also pay a visit this year to discuss with Romanian authorities and for initial contacts with the business community in Romania, to see how we can work more intensely,” the prime minister said in a joint press conference with Romanian President Klaus Iohannis.

He informed that the discussions with the Romanian head of state addressed the preparation of the next European Council, Brexit, the migration crisis, the relations with Russia and the preparation of the NATO Summit in Warsaw.

“We have agreed to deepen our cultural relations. As you know, Mr President was the mayor of Sibiu. We have a special relationship, we [Luxembourg and Sibiu] were [European] cultural capitals,” said Bettel.

President Iohannis announced that a Luxembourg economic mission, led most likely by Grand Duke Henri of Luxembourg and Luxembourg Prime Minister Xavier Bettel, will come to Romania this year.

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