During the recent years, the U.S. – Romanian bilateral relations have been a constant focus for the Romanian side, and have been supported by the larger framework of the Strategic Partnership for the 21st Century between the two states.
AmCham Romania, as part of the AmChams Europe network is a strong supporter of enhanced trade between the world’s largest economic partners – the U.S. and the EU and for Romania in particular, there is more room for increasing bilateral trade.
Foreign investments, including investments made by U.S. based companies have positively impacted Romania’s economy and in the past 25 years our country has benefited from increasing investments made by large companies, in many fields, with companies in sectors such IT, automotive, FMCG, financial services ranking high in terms of volume of investments and size of Romanian operations. Besides the direct foreign investment, U.S. companies have trained and developed a new generation of business leaders and today we can find some of them in top international positions.
Romania is traditionally promoted to the investors’ community as having a large consumer market, favorable geostrategic position, wealth of natural resources and skilled work force. The quality and talent of Romanians (especially when it comes to creativity) was critical in attracting tech companies and making Romania a preferred choice for such services. Unfortunately, this very advantage is nowadays one of the highest challenges that businesses face in Romania, and immediate measures are needed to address this.
Time has come for a shift in attracting new capital, and the American Chamber of Commerce in Romania emphasizes the need for a coherent, long-term investment plan, built on sustainable basis and visionary policies, in order to boost Romania’s economic growth potential, without affecting the macroeconomic balance.
Romania and its decision makers need to understand that investment decisions are business decisions and they are based not on the performance of the company in other countries, but on the potential for business in the host country, and on the administration’s performance in ensuring a stable, predictable and transparent business environment.
On behalf of our community of U.S., international and Romanian investors, AmCham has constantly called for predictability and transparency of the legislative and fiscal framework, special measures for the modernization and development of critical infrastructure, advanced and calibrated economic policies to narrow the gap between regions and capitalize on domestic capital, which are in our view among the prerequisites that can determine the evolution of the Romanian economy.
For the past 25 years we have positioned our advocacy, priorities and policy recommendations toward making Romania a better home for businesses. This should be the primary objective of the economic governance, and, when coherent and transparent policies and strategies are in place, they will surely make it to the board rooms of investors in search of new destinations for their capital.
Successful businesses in Romania attract more business and speak more powerful than any other argument in the global competition for resources.
In terms of challenges, U.S. investors, like investors from other countries, are pointing to the poor infrastructure, lack of stability in terms of the fiscal and legislative framework – too many changes of rules during the game, or the lack of predictability and long term, strategic priorities that could guide investment decisions.
AmCham Romania – Celebrating 25 Years of Impact in Romania!
The American Chamber of Commerce in Romania (AmCham Romania) is for 25 years a leading representative of the business community in Romania, and is acknowledged as a promoter of the private-public dialogue on matters related to the business climate, public policies that impact Romania’s economy and competitiveness or the economic ties between Romania and the U.S.
AmCham Romania’s mission is to offer its members a professional platform for interaction, collaboration, exchange of best practices and promotion aimed at business development and trade relations, as well as to represent its members’ business priorities on matters of joint interest, in relation with the Romanian authorities.
Currently, AmCham Romania’s over 430 members – U.S., international and Romanian companies allow AmCham to engage in promoting the business priorities for many industries, through dedicated working groups, such as: Capital Markets, Corporate Governance, Competition and State-Aid, Education, Energy, Environment, Health, ICT, Infrastructure, Labor, Structural Funds, Public Procurement and PPP, Real Estate, Taxation and Tourism.
Through consistent efforts during its 25 years of activity, AmCham Romania has contributed to the modernization of the legislative and fiscal framework in Romania, by offering decision makers access to its members’ expertize, by promoting best practices used internationally, and by recommending measures needed to increase Romania’s economic competitiveness.
Values such as integrity, professionalism, transparency and objectivity have guided the organization’s activity at all levels and have consolidated the trust and reputation that AmChams enjoys among its members, in the business community at large as well as among decision makers and counterparts.