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August 13, 2022
BUSINESS

AmCham – Partner and Resource in Romania’s Country Project

+ Romania offers competitive advantages such as localization and availability of a wide variety of resources, market size and potential

 

On the occasion of celebrating 240 years since the signing of the U.S.A Declaration of Independence, the American Chamber of Commerce in Romania welcomes the bilateral economic cooperation between Romania and the US partner, presenting in this context the results of a survey conducted among 200 executives, which gives an edifying picture on Romania’s investment environment and the competitive advantages that our country offers to those interested to open or expand their operations in the region.

According to those interviewed, Romania’s recent economic landscape coupled with improving macroeconomics has attracted increased foreign investor interest. The country offers, in their view, competitive advantages such as localization and availability of a wide variety of resources, market size and potential, with 75% of them sustaining that Romania offers numerous opportunities for business. The main competitive advantage in their opinion lies in the well-educated human capital and at a low cost compared with other EU markets. The main constraints mentioned by investors were the use of taxation as a political tool, rather than an economic one (87%), poor infrastructure seen as an obstacle to business development, and last but not least the corruption phenomenon mentioned by 61% of them.

Despite the poor perception in key areas of policy, Romania’s investment perspective remains positive, with 88% of CEOs declaring that their investment in Romania is meeting or surpassing expectations. Among the measures that Romania should implement in order to increase the investment attractiveness respondents mentioned the reform of the education system to include development of more applied knowledge oriented toward market needs, clear, simple, predictable regulations and legislation, continuing the fight against corruption, and drawing up an economic growth vision for the next decade.

“On behalf of AmCham, as a business association with a wide representation of the business environment, it is in our duty to bring to the authorities attention the signals within the market, while offering public policy recommendations to meet the needs of the business community we represent in view of sustainable development in Romania. Investors need a stable and predictable legislation framework in order to choose to invest in Romania. Implementing a multi-generational Country Project, Project Romania, through which our country to maximize its potential, will lead to defining an articulated sustainable development strategy remaining high on the AmCham agenda. In this context, AmCham Romania transforms itself from a professional business association, in both a resource-partner and a catalyst for Project Romania, capitalizing on its member companies’ expertise and on its responsible leadership. “(Ionut Simion, President AmCham Romania)

AmCham Romania is the first choice for advocacy and business growth in Romania. The organization was based in 1993 and it now represents over 400 members – U.S., international and local companies, with total investments worth over USD 20 billion and generating approximately 250,000 jobs.

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