News

Daily Newsletter - 12 March 2021

Summary

FIC Daily Newsletter | 12.03.2021
FIC (2) || Macroeconomic (3) || Financial (2) || Investment (4) || Legislative (3) || European News (1) || Social (2)
FIC launched second edition of “Leaders for Excellence in Healthcare” project on Thursday, 11 March

The Foreign Investors Council (FIC) launched on March 11, 2021, the second edition of the project Leaders for Excellence in Healthcare, dedicated to the medical personnel in management positions in public hospitals in Romania. The project is developed in partnership with the Ministry of Health and will take place online during the month of March. "The Romanian medical system needs constant investments, both in infrastructure and in human resources, not only to ensure its sustainability, but especially to be prepared for shocks and crises that can amplify weak structural points. Taking note of these fundamental elements and wanting to contribute to the reform of the Romanian healthcare system, FIC decided to continue the projects dedicated to doctors. Leaders for Excellence in Healthcare aims to improve the skills and knowledge of the doctors in leadership positions and to continue to adapt to the current realities and daily practices," stated FIC President Ramona Jurubita. The coordinator of the project, member of the FIC Board, Dana Constantinescu, pointed out that this year, in the context of the pandemic and of the urgent needs of the medical system, FIC added to the project two new modules - funding procedures and public procurement and funding sources for hospitals – and extend it also to a larger target group, with participants from hospitals across the country.


Foreign Investors Council launches the second edition of the project "Leaders for Excellence in Health"

Foreign Investors Council launches the second edition of the project "Leaders for Excellence in Health"

FIC launches the second edition of the project "Leaders for Excellence in Health"

FIC launched 2nd edition of Leaders for Excellence in Healthcare

"Leaders for Excellence in Health"

"Leaders for Excellence in Health"

FIC launches the second edition of the project "Leaders for Excellence in Health"

FIC launches the second edition of the project "Leaders for Excellence in Health"

Interview with FIC president Ramona Jurubiţă, about foreign investors’ expectations
In an interview for TVR International TV station, Ramona Jurubiţă, the President of the Foreign Investors Council, spoke about the evolution of foreign investments in Romania in 2020, but also about the prospects for 2021. According to FIC President, foreign investments fell by 42% at global level due to the Covid-19 pandemic and things were aggravated by the uncertainty looming over the business environment.
Voluntary compliance is the best solution to combat tax evasion
Prime Minister Florin Cîţu has stated that the best long-term solution to combat tax evasion is voluntary compliance, not restrictive or punitive measures and tax increases, because these do not bring economy to the surface. According to him, last year, although economy was closed for two months, the country recorded negative dynamics compared to 2019.
Annual inflation rate grew to 3.2% in February
Annual inflation rate grew to 3.16% in February 2021, from nearly 3% in January, considering that prices of non-food products increased by nearly 3.8%, those of food products were up by 2.7%, and those of services rose 2.32%, according to the data published by the National Institute of Statistics (INS) yesterday. The National Bank of Romania (NBR) estimates a 2.2% inflation rate at the end of Q2 and a 2.4% level at the end of Q3/2021.
CEOs show a record level of optimism when it comes to global economic recovery
One year after the onset of the COVID-19 pandemic, CEOs show a record level of optimism when it comes to global economic recovery. 76% of them estimate the evolution of global Gross Domestic Product (GDP) will improve in 2021, according to the 24th edition of the PwC CEO Survey report. They are also more optimistic about the prospects of their businesses.
Government might extend HoReCa sector’s exemption from payment of specific tax
The Government is considering extending HoReCa sector’s exemption from the payment of the specific tax until the summer, Prime Minister Florin Cîţu announced yesterday, pointing out that a proposal in this direction was expected from the Ministry of Finance. According to him, through an emergency ordinance, local authorities were allowed to reduce rents by up to 50%, upon request.
Bucharest-Ilfov leads the ranking of counties in Romania in terms of population’s deposit balance
Bucharest-Ilfov leads the ranking of counties in Romania in terms of population’s RON and foreign currency-denominated deposits at the end of 2020, with a balance of over RON 64 billion. On the other hand, Giurgiu leads the top of counties with the lowest balances of population’s deposits, both RON and foreign currency denominated, with RON 578 million. Compared to the value of deposits per inhabitant in Bucharest-Ilfov, which exceeds RON 24,000, in Cluj County, an inhabitant’s average deposit stands at RON 15,240, 62% lower.
Aaylex group has invested over EUR 15 million in a new production unit
Aaylex group of companies, whose majority shareholder entrepreneur Bogdan Stanca is, one of the biggest players in the poultry industry, has invested over EUR 15 million in a new production unit. It aims to produce 100% chicken sausages there, using only natural spices and no nitrites, nitrates, gluten, membrane, additives or preservatives, according to the company’s representatives.
Continental plans to invest EUR 150 million in Romania in 2021
German supplier of components for the automotive industry Continental plans to invest EUR 150 million in Romania this year, a similar amount as the one invested in 2020. Continental owns seven production units and four engineering centers in Timișoara, Sibiu, Carei, Nădab, Brașov and Iași. The company has over 20,000 employees in Romania.
Works on Palas Campus in Iaşi are progressing
Works on Palas Campus in Iaşi, worth over EUR 120 million, carried out by the IULIUS group, are progressing. Constructors are currently working on the structure of the fourth floor of the mixed project, which combines premium office spaces, services retail and food & beverages with park and public utility investments. IULIUS group already has a partnership with Amazon for the project under construction, which will be a majority presence in Palas Campus, thus consolidating, in Iaşi, one of its strongest centers in Europe.
Ministry of Transport and Infrastructure is investing in the railway system
The Ministry of Transport and Infrastructure has a package of investments and reforms targeting railway transport as well, which aims at modernizing, but also renewing railways. Up to 100 kilometers are expected to be renewed per year, Ramona Moldovan, a Secretary General in the Ministry of Transport and Infrastructure, stated yesterday. She pointed out that an analysis was being conducted according to projects’ level of maturity and several types of interventions were being considered.
Labor Minister spoke about reintegration incentive for parents who return to work faster than 6 months
Labor Minister Raluca Turcan has announced that two draft normative acts will be put in decisional transparency, one of them being an emergency ordinance which will increase the reintegration incentive for parents who return to work faster than 6 months, from RON 650 to RON 1,500. According to her, one of the Labor Ministry’s important objectives is to boost employment, given that many areas of activity were affected by the Covid-19 pandemic.
Ministry of Labor finalizes project to ban public sector employees to simultaneously cash a pension and a salary
The Ministry of Labor has finalized the project that will ban public sector employees to simultaneously cash both a pension and a salary from the state. Minister Raluca Turcan announced yesterday that there would be several categories this ban will not apply to. Prime Minister Florin Cîțu had stated on Wednesday that he did not accept any derogation, even for teachers or doctors. However, according to Minister Turcan, the project includes several categories whose pensions will not be suspended.
Debt-to-asset law will be debated by CCR on 20 April
The new debt-to-asset law will be debated by the Constitutional Court of Romania (CCR) on 20 April 2021. Debtors have expressed confidence that the Constitutional Court judges will declare the new debt-to-asset law constitutional, in accordance with Decision 731/2019. The law, which was promulgated by President Klaus Iohannis in mid-May last year, seems to have convinced the courts of law, which, at the end of 2020, started ruling in favor of debtors.
MEPs demand ambitious law on human rights due diligence
MEPs have urged the European Commission to table an ambitious due diligence law obliging EU companies to address all aspects of their value chains that could affect human rights, the environment and good governance. EU lawmakers backed a legislative initiative report by 504 votes to 79 on Wednesday (10 March), hoping that their proposals will feed into legislation that is due to be tabled by the European Commission in the coming weeks.
Several doses of vaccine from AstraZeneca batch whose withdrawal was ordered in Italy have already been used in Romania
The National Committee for the Coordination of Anti-COVID-19 Vaccination Activities (CNCAV) has announced that over 77,000 doses of vaccine from the AstraZeneca batch whose withdrawal was ordered in Italy have already been used in Romania, and there are more than 4,200 unused doses. As a precautionary measure, the remaining doses have been placed under temporary quarantine until the finalization of the European Medicines Agency’s evaluation, according to CNCAV.