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Foreign Investors Council Has a New Executive Team


The recent development of the Romanian economy and its perspectives had a major impact on the discussions and decisions made in the General Assembly of the Foreign Investors Council (FIC) of 18 May 2010.

As a result, the FIC member companies elected a reputable group of 15 persons for the Board of Directors, all of them being senior country managers with significant international experience in industries important to the Romanian economy.

By electing the new Board of Directors, the FIC confirms it is prepared to collaborate with the decision-makers for the improvement of the business environment within a framework characterized by a strong social responsibility and sustainable development.

At the first meeting of the Board of Directors on 15 June 2010, the following Executive team was elected for a mandate of one year:

President

Mariana Gheorghe

CEO, OMV/Petrom

Vice President

Serban Toader

Senior Partner, KPMG

Vice President

Steven van Groningen

President & CEO, Raiffeisen Bank

Treasurer

Wilhelm Simons

Partner, PricewaterhouseCoopers

The newly elected FIC President, Ms. Mariana Gheorghe, thanked the previous executive team led by Mr. Shachar Shaine for its remarkable contribution brought to the FIC during its mandate. She declared that this year would be difficult, but it is also an opportunity to make a difference. Now, once again, the FIC’s Board of Directors acting as a team having pertinent international and Romanian experience, shall promote, together with the Romanian decision-makers, efficient measures of economic recovery.

The Board of Directors shall increase the FIC’s involvement in consultation and dialogue with the main actors in the economy prior to the drafting and passage of new laws and normative acts.

It shall also focus its activities in working groups in fields having priority in the Romanian economy, such as those related to infrastructure, energy, agriculture, and other important subject matters common to the general business environment, i.e. labor market, taxation, re-launch of economic growth, environment, reformation of public institutions and management.

More than 150 professionals from over 100 multinational companies contribute on a voluntary basis to the position papers drafted by the working groups.

Each working group is led by one or two members of the Board of Directors reporting the business lobbying activities performed by each working group.

The FIC’s recommendations comply with the best practices of the European Union and principles of a market economy.


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


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