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Romania attracts investors from Northern Ireland and India

Constructions and retail - the main domains of interest.

The representatives of 25 construction companies from Northern Ireland are this week in Bucharest and Sofia, under the coordination of a governmental agency for the promotion of the Northern-Irish firms, in order to identify business opportunities in Romania and Bulgaria. According to Mediafax, the companies, which represent 50 per cent of the construction market from Northern Ireland, want to obtain contracts in Romania and Bulgaria, in order to compensate for the decline of the local market. The trade mission is the most extensive initiative of this type organized by Invest NI for the emerging markets from East Europe and will be assisted by the commercial attaches of the British diplomatic representations from both countries. The group includes some of the biggest Northern-Irish civil engineering and construction companies, as well as a few firms involved in the management of the materials and recycling, two key sectors for the economy of the region. "Romania and Bulgaria benefit from substantial investments, supported by EU, for the modernization of the economies. The investments cover massive expenditures for the improvement of the infrastructure, also from the sectors of transports and telecommunication, and major environment protection projects," declared the commercial manager of Invest NI, Vicky Kell, in the press release.

On another hand, the Indian billionaire Sanjay Dalmia wants to create in the next five years one of the biggest chains of retail at world level with an annual turnover of USD 200 bln, and Romania will be among the first markets targeted for development, Financial Express reports. Thus, Dalmia, who took over in 2006 the British retail company Rosebys, will begin the development of the brand in India, and then will expand to Great Britain, Poland, Romania, and several Asian states. "In the future, the growth engine of my affairs will be the retail. We have already started in India and we shall start this year to expand around the world, declared Dalmia, one of the most important industrialists from India. The objective of the billionaire is to turn Rosebys into a global company with an annual turnover of USD 200 bln, some 500 times bigger than the current level. The group headed by Dalmia removed Rosebys, assumed in 2006, from the bankruptcy procedure and will build a global chain of retail around this brand. "We intend to relaunch Rosebys in Great Britain this year. Then, we shall turn towards Poland and Romania in Europe, and then farther away Eastward to Singapore, Malaysia, Indonesia and Thailand," the billionaire said. Subsequently, the group may expand to China, Japan, Germany and America.

 

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Tags: retail india ireland northern romania

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