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June 27, 2022
ECONOMY FINANCE&BANKING

Finance Minister, Italian ambassador discuss prospects for new Italian investments in Romania

Finance Minister Adrian Caciu and ambassador of the Republic of Italy in Bucharest Alfredo Durante Mangoni discussed on Friday at the Ministry’s headquarters bilateral economic cooperation and prospects for new Italian investments in Romania, the Finance Ministry said in a release.

Italy ranks second among foreign investors in Romania, and bilateral trade last year amounted to 16.54 billion euros, an all-time high in the history of Romanian-Italian relations.

“After joining the European Union, Romania became an attractive destination for foreign investment due to the fact that EU rules allow the grant of higher state aid than in other countries in the region; this, along with the strategic geopolitical position, labor quality and the predictability of the business milieu, have given us a major competitive edge. The Finance Ministry has always been a reliable support for Italian investors. To date, 13 companies with Italian shareholdership have benefited from state aid worth almost 165 million euros, about 5,700 new jobs have been created and investments amount to 547 million euros,” stressed the Finance Minister, according to Agerpres.

Another item on the agenda was Romania’s progress in the process of joining the Organization for Economic Co-operation and Development (OECD). The sides reviewed developments in the field of public finance, the digital transformation of the tax administration, the efficient implementation of public investments and the governance of state-owned companies.

The two officials also exchanged views on the challenges and projects included in the National Recovery and Resilience Plans, as well as on potential collaborations in the field.

 

Photo: Facebook/Ministerul Finantelor

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