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August 14, 2022
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AmCham Romania: NPRR– Romania’s Chance for Modernization, the Responsibility and Maturity Test for the Political Class!

Time to get to work!

 

AmCham released a press statement on Wednesday to welcome the approval of Romania’s National Plan for Recovery and Resilience and to emphasize that the NPRR, one of the few projects that enjoys cross-party support in Bucharest, has the potential to become a new T 0 for Romania, provided its implementation is prioritized at all levels of the administration and managed responsibly, coherently and professionally.

On this occasion AmCham Romania also called for the return of the political class to the commitments made to the society and to the economy, which is critical for reversing the downward trend of the confidence in the Romanian investment and business climate, as indicated by the results of the flash edition of the AmCham Business Barometer Survey.

 

 “The European Commission has approved Romania’s National Recovery and Resilience Plan (NPRR), a moment we have been looking forward to and which we welcome. We trust that NPRR one of the few projects that enjoys cross-party support in Bucharest, has the potential to become a new T 0 for Romania, provided its implementation is prioritized at all levels of the administration and managed responsibly, coherently and professionally,” AmCham Romania stated in a press statement released on Wednesday.

On behalf of the business community it represents, AmCham Romania calls for the return of the political class to the commitments it made to the society and to the economy, in order to reverse the depreciation of confidence in the investment and business climate, which, according to a recent AmCham survey, has declined to the minimum quotas registered in the first half of 2020, when Romania was hit by an acute lack of predictability generated by the first pandemic wave.

Companies almost unanimously confirmed that the stability and predictability of the political and regulatory framework have a direct impact on operational and investment decisions, most of them indicated that the current political instability is influencing their investment decisions and that they have increasing concerns about the evolution of macroeconomic indicators – inflation, interest rates.

The rapid depreciation of confidence in the investment climate proves once again that trust is hard to gain and quick to lose! There is need for a cross-party alignment of the entire political spectrum around the reforms that Romania and Romanians have been waiting for too long. In order to be a credible state in relation to investors, to external institutional partners and last but not least to its citizens, it is necessary for politics and politicians to serve Romania and not the other way around.

Every day of political instability is only aggravating Romania’s situation on all levels – health, education, economy, and the top emergencies of the moment call for a responsible approach of the real challenges Romania is facing.

Amidst the high uncertainty of the moment, what is certain is that NPRR represents a historic opportunity for Romania and must be the beginning of an accelerated and sustained path towards recovering major gaps in strategic areas and towards a sustainable development of the Romanian economy and society.

Similar to its involvement during the consultation period on NPRR, AmCham Romania remains firmly committed to supporting the efforts needed for the implementation of the reforms undertaken within NPRR, under the aegis of an honest and constructive partnership between the public and private environment.

 

About the AmCham Business Barometer Survey, Sept 2021 edition

 

Participants:

  • 100 companies (21% of all AmCham Romania members), CEO or CFO
  • Of which, according to the ANAF classification:
    • 39% large companies
    • 27% – medium companies
    • 34% – small companies
  • Period: September 24 – 28, 2021

 

 

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