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August 9th, 2005 Foreign investments up 35% in the first half of 2005
The Romanian Agency for Foreign Investment aims at attracting a volume of foreign direct investments of EUR 3.2 bln - EUR 3.8 bln. August 9th, 2005 CEC expects letters of intent for its privatization by August 31st
The participating banks must be internationally known financial institutions. August 8th, 2005 Romanian government approves strategy to reform public procurement system
The strategy aims at law and institutional adjustment, the adoption of the EU practices in the field and at streamlining efficiency, transparency and competitiveness of the public procurement system. August 8th, 2005 Romanian Competition Council endorses HVB Tiriac
The merger of HVB Bank and Banca Tiriac resulted in the 4th largest player on the Romanian banking market. August 7th, 2005 Romanian government approves setting up of Holocaust institute
The main activity of the institute is the research into and the examination of the Holocaust. August 4th, 2005 Austrian Chancellor voices conviction that Romania and Bulgaria's accession to EU will happen on January 1, 2007
The themes of interest for the Austrian presidency of the EU - the development of the Danube infrastructures - is advantageous for Romania’s accession to the EU and its economic development. August 2nd, 2005
Romanian bank BCR ready for privatization July 28th, 2005 New harsher law to fight tax fraud
Fiscal evasion will be punished by jail July 26th, 2005 Romania's GDP estimated to advance 8.3% in 2005
Romania's industrial output is expected to advance 5.7% in 2005, while agriculture output is projected to grow by 2.8%. July 6th, 2005 Conditions for foreign direct investment in Romania to be improved
Romanian Agency for Foreign Investments and Foreign Investors Council work together to identify the investment priorities for each area and grant more facilities to investors |
News - full article
January 18th, 2005
Flat tax quota attracts Austrian investors
“Due to the fiscal reform and especially to the 16% flat tax, Romania has become a very interesting location for Austrian investors”, stated Richard Schenz, Vice- President of the Austrian Chamber of Economy
Schenz emphasized that after OMV has taken over the Romanian company Petrom,
Austria became the no 1 foreign investor in Romania, with a total of €3 billion
investments.
“Important privatizations in the banking sector are scheduled for 2005 and I believe that Austria will continue to be the no 1 foreign investor in Romania,” added Schenz. He underlined that Austria’s Chamber of Economy and the commercial service of the Austrian Embassy in Romania created a network of national consultancy offices, set up so far in Bucharest, Timisoara and Cluj.
This year, the Chamber will organize two economic conferences in Vienna about investments in Romania and two economic missions to Bucharest, where many Austrian investors will have the chance to establish contacts in Romania’s capital city. The Austrian part has announced new investments in tourism: building or modernizing spas, hotels at the seaside, revamping winter sports tracks, etc.
There are 3,500 Austrian or Romanian-Austrian companies in Romania, providing approx. 100,000 working places. According to estimations of the Austrian Embassy commercial service, Austrian exports to Romania increased by more than 20% in 2004, compared to 2003, exceeding €1.5 billion.
Austria exports to Romania industrial engines, transportation means,
fabrics, rubber products, paper, chemical products, etc. Romanian exports to
Austria registered a similar trend, reaching approx. €700 million. About half of
Romania’s exports to Austria come from mixed Romanian-Austrian companies and
consists of products of the car manufacturing industry, furniture, footwear,
etc.
(Nine O'clock)
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