Membership List
Board of Directors
Daily newsletter
Press Releases
  White book

The priority for the Foreign Investors Council, fiscal stability

Part of FIC's role is to analyse the most difficult aspects of the current economic climate, with the aim both of overcoming the financial crisis and also of taking the necessary measures for better interaction with decision makers. In the current economic and political context, the stability of fiscal policy should be the Romanian authorities' main priority in order to maintain a positive climate and to support a strong business environment.

"There are still significant challenges with regard to the economic situation, with difficulties caused by the effects of the international economic crisis as well as the structural aspects related to maintaining the competiveness of Romanian economy. Once more the administration must prove its capacity to establish a medium term strategy for its priorities and particularly to find, as soon as possible, the necessary levers to relaunch the economy. " underlined Shachar Shaine, the FIC President.
In particular, the government needs to improve significantly the takeup rate of EU funds. These provide a historic opportunity for Romanian to modernize its poor infrastructure. This will encourage more investment in the long term, and mitigate the effects of the current downturn because these infrastructure projects will create jobs and boost the economy. "

As Serban Toader, FIC Board member and Chairperson for taxation points out :"The necessary elements for such a policy are: (a) preparing a coherent, medium and long term fiscal strategy containing measures to relaunch the economy having as its purpose both an increase in income for the state budget, as well as support for the business environment; and (b) better transparency of decision making linked with maintaining and improving the partnership between the authorities and taxpayers in particular by a permanent and effective dialogue with the private sector."

Introducing the 16% flat tax rate was a very important step in attracting investment and one of the main reasons for its implementation was the belief that it would increase the tax base by including a high percentage of income from the underground economy. It is indisputable that introducing the flat tax led to an increase in income for the state budget and it also legalized many transactions which were previously part of the underground economy, consequently leading to an improvement of the Romanian fiscal environment.
Maintaining fiscal stability should be a firm objective of the authorities in order to ensure a stable legislative environment in the current economic context, and this is the key condition for Romania to attract new investment.

FIC appreciates the Ministry of Finances' efforts to improve the consultative process with the business environment and considers that this will have positive results for the business community and for the state authorities. Consequently, FIC recommends that this process should continue and be developed so that a continuous dialogue may take place in order to create quality legislation which serves both the investors' and the state authorities' interests. Moreover, this consultative process should be extended to include other state authorities having responsibilities in the field.

Decisional transparency and improvement of the partnership between the taxpayers and the authorities may be achieved by applying to a greater extent the provisions of the law regarding decisional transparency, i.e. by organizing regular and effective consultations with the business community, about legislative proposals and initiatives and asking the business community to come forward with their own legislative proposals and initiatives.

Regular and effective consultations between taxpayers and the authorities, based on the partnership principle are also necessary to encourage and protect the business environment, particularly taxpayers which comply with their obligations. On the other hand the authorities should tighten sanctions for nonpayment and evasion.

The Foreign Investors Council (FIC) is an association of the leading foreign investors in Romania. The FIC was established in 1997 when it officially started its activity with 26 companies as members. Today FIC accounts about 110 companies whose cumulated investments in Romania represent approximately two thirds of the total foreign direct investments made since 1990. FIC includes multinational companies providing the Romanian economy with a variety of goods and services.

The member companies of the FIC believe that the dialogue between policy makers and the investors lies at the very heart of successfully improving the climate for investment while stimulating the development of the Romanian economy.

The FIC is well positioned to provide constructive input to policy makers given the breadth of its membership, both in terms of their international experience and their substantial investment in Romania.

The management of the member companies devotes its time individually or in work groups, proposing solutions to the decision makers. FIC has produced six "White Books", setting out detailed improvements which it felt were needed in the business and investment climate, based on research and debate by FIC members.

Foreign Investors Council (FIC) - www.fic.ro

For more details, plase contact Mrs. Doina Ciomag, Executive Director, at office@fic.ro



The Foreign Investors Council supports the new Fiscal Code while considering its sustainability of utmost importance

Consiliul Investitorilor Straini sustine proiectul noului Cod Fiscal si considera ca viabilitatea lui este foarte importanta

24 de studenti si medici tineri au participat la cursurile MedClass, sustinute de Consiliul Investitorilor Straini

The FIC's Board of Directors elected its new executive management

Comitetul Director al FIC a ales noua conducere executiva

The Foreign Investors Council emphasizes the need to foster investments in the romanian energy sector

Consiliul investitorilor straini subliniaza necesitatea promovarii investitiilor în sectorul energiei din România

The tenth edition of the FIC White Book: Regaining Momentumia

Cea de-a zecea editie a Cartii Albe: Reconstruirea Increderii

12 experts in communication, ethics and management offers courses free of charge to Medical students and young physicians of Romania

12 experti in comunicare, etica si management le ofera cursuri gratuite studentilor la Medicina si tinerilor medici din Romania

Press Release - FIC Business Sentiment Index - April 2015_EN

FIC Business Sentiment Index - April 2015_RO

Propuneri prioritare FIC - AmCham de modificare a proiectelor de Cod fiscal si Cod de procedura fiscala

AmCham Romania si FIC saluta lansarea în consultare publica a proiectului de rescriere a Codului Fiscal si a Codului de Procedura Fiscala


AmCham Romania and FIC welcome the public consultation on the draft Fiscal Code and Fiscal Procedural Code


The Foreign Investors Council (FIC) - Event on the better functioning of public institutions


Consiliul Investitorilor Straini (FIC) despre imbunatatirea activitatii institutiilor publice


The Foreign Investors Council (FIC) - Business Sentiment Index


The tax on special constructions will have a significant adverse impact on Romanian business environment


Impozitul pe constructii speciale va avea un impact negativ semnificativ asupra mediului de afaceri din Romania


The Foreign Investors Council presented the results of a survey among SMEs in Prahova County


Consiliul Investitorilor Straini - FIC a prezentat rezultatele unui studiu în rândul IMM-urilor din judetul Prahova


The Foreign Investors Council (FIC) unveils its key proposals regarding Romania’s Energy Strategy


Consiliul Investitorilor Straini - FIC a prezentat propunerile membrilor sai privind noua Strategie Energetica a României


The Foreign Investors Council (FIC) - Transparency and Predictability of the Legislative Act


Consiliul Investitorilor Straini (FIC) despre transparenta si predictibilitatea actului legislativ


Foreign Investors Council (FIC) in dialogue about the measures for supporting the economic growth


Consiliul Investitorilor Straini (FIC) in dialog despre masurile de sprijinire a cresterii economice


Campania "De profesie: medic in Romania" a castigat Premiul European pentru Excelenta, la cea mai prestigioasa competitie europeana de comunicare


The approval of new taxes should be conditioned by a proper impact assessment and thorough consultation with the business environment


Introducerea de noi taxe trebuie conditionata de analiza de impact si de consultarea cu mediul de afaceri


Business Environment Calls for an Efficient Insolvency Regime (English version)


Mediul de afaceri solicita un regim al insolventei eficient, transparent si predictibil (Romanian version)


Romania in infringement (Romanian version)


Romania in infringement (English version)


FIC si AmCham atrag atentia asupra efectelor generate de unele masuri fiscale


FIC and Amcham underscore the effects of several fiscal measures, 1 October 2013


The FIC's Board of Directors elected the new executive management


Comitetul Director al FIC a ales noua conducere executiva


FIC has a new Board


FIC are un nou Comitet Director


The foreign investors council underlines the need to foster energy efficiency in Romania.


Consiliul investitiorilor straini: eficienta energetica trebuie sprijinita.


Consiliul Investitorilor Straini (FIC) in dialog despre stimularea absorbtiei fondurilor europene pentru investitii in infrastructura prin imbunatatirea sistemului de achizitii publice din Romania


Foreign Investors Council (FIC) in Dialogue about Stimulation of Absorption of European Funds for Investment in Infrastructure by Improving Public Procurement System in Romania

Foreign Investors Council (FIC) in Dialogue about Taxation and Future Developments

Consiliul Investitorilor Straini (FIC) in dialog despre fiscalitate si evolutiile viitoare

The Foreign Investors Council (FIC) is concerned about the recent evolutions on the political scene of Romania

The FIC's Board of Directors elected the new executive management

Consiliul Investitorilor Straini sublinieaza necesitatea promovarii investitiilor in sectorul energiei din Romania

The Foreign Investors Council emphasizes the need to foster investments in the romanian energy sector

Consiliul Investitorilor Straini despre problemele din Infrastructura

Institutiile publice ar putea deveni motor de crestere economica

Public Institutions May Become the Driver for Economic Growth

Foreign Investors Council Supporting Small and Medium-Sized Enterprises

Consiliul Investitorilor Straini lanseaza Cartea Alba si bilantul Programului de Crestere Economica

AmCham Romania si CIS pledeaza pentru modernizarea, rescrierea si actualizarea legislatiei fiscale

AmCham Romania and FIC Call for a Modern, Re-written and Updated Fiscal Legislation

The FIC's Board of Directors elected the new executive management

5 miliarde de euro in 3 ani - Potentialul de investitii al industriei romanesti de energie regenerabila

5 billion Euros in 3 years - The investment potential of the Romanian renewable industry

Consiliul Investitorilor Straini sprijina eforturile autoritatilor române În ceea ce priveste adaptarea legislatiei care guverneaza piata fortei de munca la conditiile economice actuale.

Consiliul Investitorilor Straini a prezentat "Actiunile Prioritare pentru Repornirea Economiei" la Conferinta Regionala Financiara si de Investitii pentru Sud-Estul Europei.

VAT rise should be followed by stimulus package to promote investment

Cresterea TVA ar trebui sa fie urmata de un pachet de stimulente pentru promovarea investitiilor

Foreign Investors Council Has a New Executive Team

Consiliul Investitorilor Straini a ales un grup reputabil de presedinti de companii in Comitetul de directie

The Foreign Investors Council elected a compelling group of CEOs as Board of Directors

Investitorii straini despre mediul de afaceri romanesc

Foreign Investors regarding the Romanian Business Environment


Investments in Renewable Energy - a Priority for the Foreign Investors Council

The priority for the Foreign Investors Council, fiscal stability

Stabilitatea fiscala este o prioriate pentru Consiliul Investitorilor Straini

Romanian Economic Forum: The business community requests concrete measures for economic recovery

Forumul Economic Roman: Comunitatea de afaceri cere masuri concrete de relansare economica

The Foreign Investors Council Elects its Executive Officers

Consiliul Investitorilor Straini Îsi alege noua echipa Executiva

The Foreign Investors Council Elects its Executive Officers

Noua echipa executiva a Consiliului Investitorilor Straini (FIC)

Twelfth Anniversary of the Foreign Investors Council

The Foreign Investors Council Celebrates its 11th Anniversary

FIC - Presidents of multinationals on Romania's accession to the European Union on January 1st, 2007

The Foreign Investors Council on the Draft Investment Law

The Foreign Investors Council Elects a New Board of Directors - english
04.05. 2006
Consiliul Investitorilor Straini alege un nou Consiliu Director - romana
04.05. 2006
The Foreign Investors Council and the Labour Code
01.07. 2005
The Foreign Investors Council Elects a New Board of Directors
13.05. 2005
The Foreign Investors Council welcomes the findings of the EC report regarding Romania
09.10. 2004
The Fiscal Environment for 2005 is designed to attract FD
18.06. 2004
The Foreign Investors Council Believes the New Law on Capital Markets is a Decisive Step Forward
The Government of Romania met with Top European Industrialists and members of the Foreign Investors Council

The Foreign Investors Council, the European Roundtable of Industrialists and the Government of Romania to Discuss EU Accession Progress

The Foreign Investors Council and the European Roundtable of Industrialists together with the Government of Romania will jointly assess the progress towards a functional market economy

The Foreign Investors Council Meets with Delegated Minister Sarbu to Discuss the Labor Code

Romania's Foreign Investors Council welcome the Government decision...
A new Board Team elected by the Foreign Investors Council

The Foreign Investors Council presents its latest...



   Useful Links    Terms & Conditions     Privacy policy    Site Map    Contact
  ©2003 Foreign Investors Council
Maintained by Datagram