The past two years have been marked by unprecedented challenges and changes in the
global economy. The outbreak of the COVID-19 pandemic in 2020 had an impact on all aspects
of our society, representing a challenge for the economies of states around the world,
bringing changes to global economic development, and the recovery of the post-pandemic
economy was made difficult by the context of the conflict in Ukraine.
Recent publications by international institutions, as well as national ones, have assessed a
downward in economic growth for the current year, estimating a reduced advance of the
economy around 3% for the year 2023.


FIC members believe that stimulating foreign and domestic investments, especially by setting
a vision for Romania to attract investments with high added value, is a country objective that
can lead to economic growth and, ultimately, to the well-being of citizens. The members also
reiterate that is important that investment projects, public or private, do not stagnate, and that
the authorities get involved in providing a climate of stability, transparency, and predictability.
The funds that our country benefits from, through the National Recovery and Resilience
Program (NRRP), should be absorbed with a greater determination to continue investments
in an accelerated manner in key pillars such as: taxation, energy, institutional capacity, human
capital, and digitization.


At the same time, the reforms that must be implemented with the help of the NRRP have the
objective of smart, sustainable and inclusive economic growth through the fiscal reform and
pension system components. Thus, the Romanian fiscal legislation is subject to a detailed
analysis, especially in the field of taxes (on profits, on properties, etc.) and social contributions
due for the income obtained by natural persons.


In this sense, FIC members welcome the opportunity for a general revision of the fiscal framework
and consider it important that the fiscal legislation continues to be attractive so that Romania
remains competitive with neighboring countries and keeps on attracting more foreign
investments. The predictability and competitiveness of the tax system are key elements in
attracting foreign direct investment, and any change in the tax regime must happen transparently
and only through dialogue with the business environment.