The emerging markets in CE, SE and Eastern Europe include Romania, Poland, Hungary, Turkey, Serbia.

The emerging markets in CE, SE and Eastern Europe include Romania, Poland, Hungary, Turkey, Serbia.
The emerging markets in CE, SE and Eastern Europe include Romania, Poland, Hungary, Turkey, Serbia, Lithuania.

Monday, 14 January 2013

Romania - good business and investment perspectives for 2013

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  • Last year over 218,000 Austrian tourists visited Romania, up nearly 14% over the previous year, while their expenditure in Romania was estimated at 52 million EUR. It is expected that the trend will continue in 2013.
  • The Cluj County Council are in advanced negotiations with a multinational company which intends to invest 1 billion euros in a production facility in the industrial park Tetarom III Jucu. According to representatives of Cluj County Council, this investment involves the creation of 5,000 jobs over a period of 4 years. 
  • Annual inflation rate at 4.95% in 2012, below the NBR target 
  • Romania climbed three positions in the world ranking of economic freedom in the 2013 Index of Economic Freedom made by Heritage Foundation in partnership with The Wall Street Journal. The global financial and economic turmoil forced the Romanian economy to endure sharp structural adjustments. “Despite the challenging political environment, Romania has undertaken needed reform measures that include spending constraints and labor market reforms. Recovering from the severe shock of the crisis, it continues to place a high priority on restoring fiscal sustainability and strives to enhance overall economic competitiveness”, the 2013 Index shows
  • Lukerg Renew will invest around EUR 135 million to build a wind farm in Eastern Romania, Tulcea region, after acquiring the wind project in late 2012. Lukerg, which is a partnership between Russian oil & gas firm Lukoil and the Italian energy group ERG, will begin building works this quarter. The farm is expected to start commercial operations next year. The company will use a long term non-recourse loan to finance the project. Romania reached 1,779MW of wind capacities by November 2012, according to grid operator Transelectrica.  
  • Romania ranks 10th on wind investment attractiveness, says E&Y report. Investors perceive Romania as a top destination for renewable investments, mainly wind, allowing the country to rank 13th out of 40 countries on renewable energy and 10th on wind, according to the latest Renewable Energy Country Attractiveness Indices of the professional services firm Ernst&Young (E&Y). Romania, which is already the “shining star” of the renewable sector in Eastern Europe, may benefit from an influx of Bulgarian investors, drawn away by cuts in subsidies in the neigboring country, according to E&Y. 
  • South Korean group Samsung looks at building two photovoltaic parks in Romania, in the Giurgiu County, south of Bucharest. Samsung’s photovoltaic parks in Romania will have a combined 45MW installed capacity. Photovoltaic New Horizon (PNH), another South Korean firm, is currently working at three projects in Romania.
  • “Romania has an open economy, which has benefited greatly from the opening up of new markets, especially in the EU. It will benefit from the continued gradual liberalization of world trade and closer trade integration with the EU.

    Some of the remaining barriers to trade in goods with the EU are likely to be removed, and liberalization of trade in services, which could eventually benefit Romania, is set to continue, albeit at a slower rate than previously planned”, according to the Ernst & Young’s annual globalization report, “Looking beyond the obvious: globalization and new opportunities for growth”.
     

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