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October 5, 2022

President Iohannis: Unprecedented European funds can accelerate Romania’s deep modernisation

The unprecedented European funds at our disposal can accelerate in these years Romania’s deep modernisation, President Klaus Iohannis said on Thursday in a message to the 20th anniversary of the Romanian-German Chamber of Commerce and Industry – AHK Romania.

The message was presented by presidential adviser Cosmin Marinescu at an event hosted by the Romanian Parliament.

“We all feel the effects of the multiple crises that overlap in these years: the war in Ukraine, the costs of post-pandemic recovery, the increase in energy prices, the climate crisis and the risks to food security,” said Iohannis.

He added that “2022 is under the sign of record inflation and an energy price crisis not only in Romania or Germany, but globally.”

“There is a supply crunch, market volatility and critical risks of energy dependence. These are already generating a lack of confidence in economic resilience. Unfortunately, there is no magic solution to all these problems, but there are specific things we can do to overcome such challenges.”

The President added that the sustainable use of resources “requires profound changes in production systems and consumption behaviours, as well as the adaptation of investment strategies. The integration of technological progress into business models must become the main development direction of any business, from the smallest enterprise to large corporations.”

“Your companies, above all, mean the value given to human capital. Investing in people, in developing skills, in maintaining professionalism and attracting new generations means investing in the future of your business. We have many success stories, including of German companies, and they deserve to be better promoted. I strongly believe in the power of example, and the way we managed to overcome the two years of the pandemic together and recover economically shows the positive effects of such approach,” added Iohannis.

He said “the use of European funds for investment and reform should be the utmost priority in all decisions of the central and local administrations.”

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