The significant contribution that foreign investments have had and continue to have to Romania's economy, as well as the strategic directions for stimulating investment in Romania through the set of reforms undertaken by the PNRR and the roadmap for joining the OECD were the main topics of discussion at the event “Romania on the investment map”, organized by the Foreign Investors Council (FIC) with the participation of the Interim President of Romania, Mr. Ilie Bolojan and hosted by the Presidential Administration on April 9. The event brought together 50 of the General Managers and CEOs of member companies and is an important step towards a clear and transparent dialogue between the Presidential Administration and the FIC, as well as a recognition of the importance of foreign investment in the economy.
Romania can increase its level of competitiveness in the region with the help of the big players in the economy if strategic measures are taken to stimulate major investments with the ultimate goal of reducing the pressure on the state budget in the medium-long term, was one of the main conclusions of the discussions. In a tense geopolitical context, it is important for the country's economy to be as productive and oriented towards high value-added investments as possible so that it is ready to respond to external shocks.
The stock as a share of FDI in Romania's GDP has increased from 0 to 35% in 2024, since the 1990s and up to the present. At the same time, and with the help of FDI, the country's economy has grown 10-fold, from 36 to 355 billion euros in 2024. Both FIC and a significant part of its member companies have a history of about 30 years of activity in Romania, which has brought investments, jobs, taxes paid, but also long-term commitment to Romania's development.
FIC representatives also pointed out that 51% of the turnover of companies in Romania is represented by companies with foreign capital, i.e. more than 275 billion euro of the country's economy in 2023. FDI exports account for 69% of total exports. Companies with foreign capital employ over 1.3 million employees, invest 1.5 times more than the national average and maintain the same ratio when it comes to labor productivity (profit per employee) and profitability.
A more detailed analysis based on the data of the 110 FIC companies shows that they made a total contribution to the state budget of almost 82 billion lei in 2023 (representing more than 18% of the current revenues collected by the state). At the same time, they transferred to the budget VAT and excise taxes of more than 31% of the total VAT and excise taxes collected by the state. Investments of FIC companies account for 43% of public capital expenditure according to the consolidated budget execution. Employees in FIC companies, about 191,000 people, earned an average net wage almost double the average net wage in the economy. The leaders of the FIC companies discussed with the Interim President of Romania strategic issues for the development of the economy, such as the country's rating and fiscal reform; security and defense sector; the strategy for attracting investment; the strategy for attracting investment; the absorption of European funds; the capital market; health and education; the reduction of bureaucracy and digitalization of public administration; energy transition and climate targets; the new EU priorities for the industrial sector.