The economy in Romania is continuously developing in a positive way and strengthening the trust of German investors. With an increase of 3.8% of the gross domestic product during 2015, Romania reached the highest economy growth since 2008 and one of the highest in the region. The development of the GDP was significantly influenced by the IT and industrial sector. In addition, Romanian exports achieved the historical value of 54.6 billion EUR (+4.1%). Moreover, 2016 is expected to offer high chances of development for the Romanian economy, which makes of Romania an appealing location for important investments.
German companies do not consider the country only for new investments, but also for the expansion of the existing production capacity. Compared to the previous year, AHK Romania received in 2015 the tripled amount of queries from German investors regarding investment opportunities. They were partly related to relocations from other EU-countries or China, but also to external investments of German companies.
Germany is for many years now Romania′s most important trade partner and one of the major investors in the country. The exports to Germany reached in 2015 10.8 billion EUR, which represents with up to 6.8% more than in 2014. Further on, the imports from Germany amounted to 12.4 billion EUR, meaning 19.8% of the overall imports and 11.3% more than in 2014. Taking into account the fact that over 7.500 companies with German capital are actively involved in the Romanian market, Germany is still the third foreign investor in Romania.
During 2015, Romania absorbed new investments not only in toll manufacturing, but also in areas such as electronics, metalwork and metal processing and the plastic industry. Romania possess on the one hand technically well prepared workers, either young or more experienced, and on the other hand facilities with less qualified labour force. Therefore, the country is able to satisfy the needs of both investors with high expectations and investors who consider the wage level an important issue.
Apart from the production sector, there is also potential in the fields of GreenTech, environment, energy, agriculture, food industry, but also in the IT&C sector. Due to the growing income, significant business opportunities for trade and commerce arise. German investors show high interest in the IT and the automotive supply industries. Moreover, Romania is considered by Germany an efficient place for automotive supply. German investors of this field produce basically for the West European market. However, they have crystallized some Romanian regions, which are active players in the IT sector, in particular Bucharest, Cluj or Iași, which benefit German companies as well. The most decisive factor in this context is each university and the quality of the performance of its graduates. IT-oriented members of AHK Romania show a high satisfaction level concerning the work quality of Romanian programmers. However, their availability in big university centres seems to be slowly reducing.
Another advantageous aspect of Romania is the consolidation of the newly reorganized system of vocational schools. The current system, which is inspired by the German model, is more flexible and – therefore – more suitable to represent the interests of companies. It is obviously not perfect; there is a high necessity for a persistent improvement of the practical training, in order to provide all companies which are involved with successful perspectives.
In a nutshell, Romania remains a country with high potential, in which it is worth investing. This applies to German companies too. The Romanian-German Chamber of Commerce and Industry (AHK Romania) is since 2002 the official representation of German economy and, also, the greatest chamber of bilateral commerce in Romania. The AHK Romania is constantly supporting German companies through its services and events, with assistance on their market entry in Romania and location setup. At the same time, the Chamber is a partner for Romanian companies interested in the German market. AHK Romania is an active part in the efforts of implementing the German inspired vocational school system and is also operating its own GreenTech Initiative, econet romania, and a Court of Arbitration.