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The tenth edition of the FIC White Book: Regaining Momentum


Bucharest, 27 May, 2015


The Foreign Investors Council - FIC launched yesterday the tenth edition of its White Book, entitled "Regaining Momentum", in the presence of His Excellency Mr. Klaus Iohannis, the President of Romania.

The White Book, which is published every two years, is a thorough analysis of the Romanian economy in which FIC members strive to identify the progress recorded since the last edition and, at the same time, recommendations for further improving the business environment in the medium and long term. FIC members account for roughly two thirds of the foreign direct investment in Romania.

In its effort to improve the business environment FIC has a constant dialogue with Romanian authorities. FIC's objectives are sustainable economic growth by improving the business environment, increasing transparency and predictability as well as developing a functional free market and integrating the Romanian economy in the European single market.

In his speech addressed to the representatives of the business environment, the Romanian President noted that prosperity can only be the result of encouraging private initiative by equally supporting foreign investments and local capital.

The Romanian President, Mr. Klaus Iohannis declared: I appreciated the message that accompanies the report being launched today. The main objective is to rebuild the trust of investors and entrepreneurs in the Romanian business environment. Romania's progress can only be the result of a new development model which is focused on competitiveness and which encourages entrepreneurship, innovation and added value and which leads to the creation of well-paid and productive jobs.

In his message to the business community the President underlined the need to improve the quality of institutions because transparency, predictability and stability are the prerequisites for stimulating investments and entrepreneurship. Mr. Klaus Iohannis also talked about the necessity to create a framework which will allow Romania to capitalize on the opportunities offered by some sectors of its economy.

At the end of his speech President Klaus Iohannis declared that "public authorities have to be the first to demonstrate professionalism and responsibility in their relationship with the business environment". Because trust is essential in the relationship between the state and citizens the President of Romanian said that "We need a state that does not elevate itself above citizens and works for them not against them. We need a state that is the fulcrum of the business environment and not the other way around. The President congratulated the representatives of the companies that attended the event for their performance so far and wished them good luck for the future.

Mihai Bogza, the President of FIC declared the following: "The White Book is the result of the concerted work of all our members and it contains a large array of recommendations regarding infrastructure, energy, taxation, agriculture or healthcare, to name just a few. Foreign investors come to Romania not only with capital but also with a certain amount of experience because they have been operating on diverse markets, some more mature than the Romanian market. Romania's problems and difficulties are not unique and foreign companies are willing to share with Romanian authorities the vast experience accumulated in other countries.

We have been noticing recently a slight improvement in investor and consumer confidence after the difficult years that followed the economic crisis. This is something we have also seen in our last Business Sentiment Index, which FIC publishes every six months. FIC's main recommendation remains the general improvement of the business environment with greater legislative and administrative stability and predictability."

The White Book is availabe, in bilinguel version, on the Foreign Investors Council website, www.fic.ro:
http://www.fic.ro/white_papers/FIC-engleza-2015-2.pdf
http://www.fic.ro/white_papers/FIC-romana-2015.pdf

ABOUT:

The Foreign Investors Council (FIC) is an association of the leading investors in Romania. The FIC was established in 1997 when it officially began its activity with 25 companies as members.

Today, the FIC has 117 member companies whose cumulated investments in Romania represent approximately two thirds of the total foreign direct investment made since 1990.

The FIC members provide a variety of goods and services and have created almost 200,000 direct and indirect jobs for the Romanian economy.

In almost 20 years of activity, the FIC has proven to be a constant presence and a valuable dialogue partner with objective and professional approach regarding the problems about the Romanian economy development and improving the business environment.

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


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