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  • Market Information Romania

    Reasons to invest in Romania and do business with local companies.

    Key facts

    - Largest market in South Eastern Europe and the 7th largest in the EU with a 19,5 mill. population

    - NATO and UE membership

    - Currency: 1 EUR is 4,38 RON (Romanian leu) as per January 15 2013

    - Affiliation to international organizations: United Nations, Council of Europe, World Trade Organization, OSCE; free trade agreements with EU, EFTA etc.

    - Legal framework harmonized with the one in the EU

    - Romania entered into two stand-by agreements with the IMF (covering the periods 2009-2011 and 2011-2013) as measures to fight the financial crisis

    - Third largest inward FDI receiver in Central and Eastern Europe with 30 bln EUR attracted over the last 6 years only; by sector, most FDI s are in manufacturing industry, trade, financial services and IT&C

    - Resourceful country (competitive and skilled labour force, rich natural resources: waters, oil and gas, fertile agricultural land)

     

    Macroeconomic data

    - Rapid GDP rate growth between 2001 and 2008 (one of the biggest in the EU (7,3%) in 2008), followed by a severe adjustment in 2009 and 2010; in 2012 the GDP rate growth was 1,4 % and the forecast for 2013 is 2,5%

    - Inflation rate: 3,1 % in 2012 and the forecast for 2013 is 4,1 %

    - Public debt was 34,7 % of GDP in 2012, the 4th lowest public debt in the EU

    - The budgetary deficit for 2012 was 3,1 % of GDP, i.e. under the threshold of the EU (4,4%); for 2013 it will stay within the same margins, as per the IMF agreement

     

    Low cost for doing business

    - The corporate income tax is 16%, the second lowest in the EU; Micro-companies may choose to pay a 3% income tax on income, instead of profit tax

    - Salary tax exemption may be applied for employees working on software creation if certain conditions are fulfilled

    - Favourable office rent and low cost of utilities

    - Out of 185 countries looked at by the World Bank from the perspective of the ease of doing business, Romania is ranked 72 (no changes in ranking between 2012 and 2013)http://www.doingbusiness.org/data/exploreeconomies/romania/

     

    Human Resources

    - Highly qualified multilingual labour force: Romania has 10 major university centers with over 200 000 graduates/ yr; foreign investments have concentrated in areas with technical faculties and significant availability of engineers and IT specialists.

    -  Lower costs with the labour forces than in most EU countries

    - Unemployment rate was 7,3 in 2012, below the EU average (11,8%) and is estimated to stay in the same margins in 2013

    - Employment rate of people between 20-64 is 62,3 % (as per June 2012); the EU average is 68 %

    - The gross average monthly salary was 471 EUR in 2011

     

    Investment Incentives

    - State aid schemes for sustainable development

    - Access to EU structural funds

    - Right to fully repatriate the capital and profits etc.

     

    Prioritized sectors

    - Energy

    - Transportation

    - Agriculture

    - IT&C

    - Automotive