InvestRomania and Local American Working Group (LAWG) organised on June 21 the first annual biotechnology conference in Romania – ‘RoBio 2020. Romania – Central and Eastern Europe’s Biotech Hub by 2020.”
The event tackled possible solutions for the creation of an ecosystem favourable to research and development in the biotechnology domain, one that would be based on a predictable and favourable investment framework. This goal can only be attained by offering fiscal incentives to investors in this domain, by encouraging start-ups with the help of grants offered from the Fund for Innovation and by developing “Biotech Hubs” within large university centres, which could become innovation accelerators.
State authorities, representatives of the world of academia, researchers, healthcare companies, healthcare experts and the representatives of the embassies of states relevant in the Biotech R&D domain took part in the conference.
In the opening speech, Manuel Costescu, Secretary of State, InvestRomania, stated: “In time, Romania transformed from a country sought by investors for its cheap labour force into a destination suitable for strategic investments in innovation in various domains. The students, the future employees, are very well trained. Romania is one of the top 10 countries with the best results at math or IT Olympiads. 90 percent of the students are fluent in English, 26 percent in French, 17 percent in Spanish. Romania offers investors a very well developed IT infrastructure, has lower taxes compared to other European states and, at the same time, offers state aid in order to encourage investments. Romania needs innovation in IT, in healthcare, and it is important for us to join forces in order to pro-actively attract foreign investments in all these domains.”
Gabor Sztanislav, member of LAWG’s Board and Amgen Romania CEO, stated: “Local American Working Group invests numerous resources in raising the level of information and education on biotechnology, a top priority domain for healthcare researchers. Companies see Romania as a market in full-blown development and want to invest in healthcare or IT. However, in order for this desideratum to become a reality, it is essential for the business environment to become transparent, favourable for such investments. In particular, numerous regulations concerning the price policy, the clawback tax, the slowing down of patient access to medical innovation are imposed on pharmaceutical companies present on the Romanian market, which deters investments.”
The conference is part of a series of events organised as part of InvestRomania’s “An industry sector each month” project, which seeks to promote and enhance the visibility of priority industries this year: IT&C, auto industry, aerospace industry, bio-economy, agriculture and creative industries. June is the month dedicated to bio-economy.