News

Daily Newsletter - 26 May 2017

Summary

FIC (1)

Eric Stab (FIC) speaks out on criticism over foreign investors in Romania: “If you are feeling stigmatized, you tend to react adversely” (Source: business-review.eu)

The Bucharest University of Economic Studies (ASE) and the Foreign Investors Council (FIC) launched the study entitled Foreign Direct Investments: their evolution and importance for Romania.The main conclusion of the study is that FDIs played a decisive role in the past 20 years and have helped the Romanian economy in its transition to functioning free markets. Considering the large investment needs of Romania, it is likely that foreign investors will continue to play a significant role in the future. Some conclusions of the study that are worth pointing out: Foreign companies employ a third of the work force in the private sector in Romania; Foreign companies are responsible for 70% of Romanian exports; Romania has the lowest stock of FDI/capita in the region; A lot of the FDI in Romania came as equity; Almost half of the Romanian FDI Stock has flowed in industry; Foreign investors contributed significantly to increasing the productivity of the Romanian economy.

Foreign direct investment - a resource with good potential (Source: cursdeguvernare.ro)

Foreign company invest at least twice more per employee, according to a FIC and ASE study - Videoclip (Source: Digi24)

#countryfocus | How foreign direct investments help Romania’s economy (Source: business-review.eu)

Stab, FIC: Investments in infrastructure and human capital would make Romania the tenth biggest economy in the EU (Source: forbes.ro)

Stab, FIC: Investments in infrastructure and human capital would make Romania the tenth biggest economy in the EU (Source: diacaf.com)

Stab, FIC: Investments in infrastructure and human capital would make Romania the tenth biggest economy in the EU (Source: mediafax.ro)

Stab, FIC: Investments in infrastructure and human capital would make Romania the tenth biggest economy in the EU (Source: ziuanews.ro)

Stab, FIC: Investments in infrastructure and human capital would make Romania the tenth biggest economy in the EU (Source: ultimelestiri.com)

Eric Stab, president of FIC: "Investors employ a third of Romania's workforce" (Source: zfcorporate.ro)

Eric Stab, president of FIC: "Investors employ a third of Romania's workforce" (Source: presaonline.com)

Eric Stab, president of FIC: "Investors employ a third of Romania's workforce" (Source: feedler.ro)

Most attractive regions for foreign investors (Source: diacaf.com)

Most attractive regions for foreign investors (Source: capital.ro)

Don't shoot foreign capital! (Source: profit.ro)

Don't shoot foreign capital! (Source: cursvalutar.ro)

Foreign direct investment study (Source: rador.ro)

Foreign direct investment - a resource with good potential (Source: rador.ro)

A third of private employees work for multinationals (Source: capital.ro)

A third of private sector employees work for multinationals (Source: cariereonline.ro)

Foreign investors say they account for 70% of exports, third of workforce (Source: zf.ro)

FIC: We continue to reinvest our profits in Romania (Source: bizlawyer.ro)

FIC: We continue to reinvest our profits in Romania (Source: agerpres.ro)

FIC: We continue to reinvest our profits in Romania (Source: ziare-pe-net.ro)

Foreign companies accounting for 70 pct of Romania's exports and 60 pct of imports, on average (Source: economica.net)

Foreign companies accounting for 70 pct of Romania's exports and 60 pct of imports, on average (Source: romania-actualitati.ro)

Foreign companies accounting for 70 pct of Romania's exports and 60 pct of imports, on average (Source: businessmagazin.ro)

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Macroeconomic News (3)

INS issues clarification 

The National Statistics Institute (INS) has calculated the Q1 GDP using exclusively the production method. As a result the figure does not include data regarding investment, final consumption and net exports, according to a press release.

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IMF and Ministry of Finance speak different languages 

After the IMF conducted its scheduled evaluation of Romania's economic and financial policies, the Ministry of Finance (MFP) issued a press release featuring the local view of the evaluation. The IMF put out its own press releases on Thursday, featuring warnings about the impact of the future payroll bill.

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Budget still in black in April 

The consolidated state budget showed a RON 1.35 billion surplus at the end of April, a drop from the RON 1.52 billion surplus reported at the previous month's end. Revenues increased by 8.4% in the first four months of the year, while expenses jumped 6.8%.

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Financial News (5)

Domestic debt collection market up 45% in 2016 

The value of debt managed by Romanian companies operating on the domestic market increased by 45% in 2016, compared to the previous year, according to a survey from the Commercial Debt Management Association (AMCC) and Ensight Management Consulting.

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Romanians had EUR 36.9 billion in bank accounts 

The aggregated value of private and corporate savings reached RON 277.1 billion in April, up 10.2% year-on-year, according to the National Bank of Romania (BNR). Deposits are growing three times faster than loans. In April alone, RON-denominated deposits surged 12% on an annual basis.

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More than 600 Prima Casa applications filed every day 

The Prima Casa program has reached a new all-time high, as more than 600 applications pour in every day, according to the National Loan Guarantee Fund for SMEs (FNGCIMM). The fund's employees are working according to an extended schedule and will work through the June 1-5 mini-holiday.

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Corporate and retail debts to banks down 32.7% 

The aggregated value of corporate and retail debts to the banks dropped to RON 13.21 billion in April, down 32.7% year-on-year, according to the National Bank of Romania (BNR). Debts denominated in the national currency account for RON 6.08 billion of the total.

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Liviu Voinea, BNR: The biggest risk comes from abroad 

The biggest risk facing Romania's economy is the deterioration of investor trust in emerging economies, which could push up interest rates, according to Liviu Voinea, deputy governor of the National Bank of Romania (BNR).

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Investment News (1)

Real estate market booms 

Bucharest is poised to change its look. Based on the housing projects already announced, Drumul Taberei, Mihai Bravu, Politehnica, Otopeni and Corbeanca will look very different shortly.

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Legislative News (1)

Grindeanu: The new procurement regulations are 96% ready 

The draft amendments to the procurement regulations are almost ready. The regulations will be modified in order to implement the recommendations made by the European Commission.

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Politics (1)

USR spokesman reaction 

Deputy Dan Barna, spokesman of the Save Romania Union (USR), stated that the visitors on the Ministry of Justice's list had had access to the SIPA archive lawfully and "for the purposes of their work at the time".

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