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US ambassador to Bucharest: American investors complain that in Romania small decisions are made at very high level

Mark Gitenstein, the US ambassador to Bucharest declared for Radio Romania News that American investors are very preoccupied by the fact that in Romania small decisions are made at very high level and said that higher transparency in making decisions for more efficient investments would be beneficial.In the interview on measures needed to make the business climate in Romania more interesting for American investors Gitenstein insisted on the reform of justice.

He said he considered it would be better if decisions were made at a lower level and there were a higher transparency of decisions to allow for more efficient investments. Once a contract is signed and something happens things should not be settled at level of minister of secretary of state. There is a lot of red tape in the system.American firms are very preoccupied by these matters and the EU is working on these aspects, Gitenstein added.

The American official pointed out that he wished the level of American investments in Romania increased. He showed the US backed the IMF project through the Finance Ministry and that technical assistance was granted to the government. He himself is working with the National Bank, with the Romanian president and ministers. It is an interesting area of economic policy and he wishes to see more powerful investments made by American companies in Romania.

In this context the ambassador gave the example of Ford company which is affected by the lack of infrastructure in Romania. He showed that Ford had made a huge investment in Craiova where about 1000 cars are manufactured daily. But in order to take the cars out of Craiova a railway or a highway are needed. This is a perfect example of an area where you can force this kind of investments and there are a lot of companies, even American and European which are good for this kind of business.This is a perfect example of an area where Romanian investments and the EU in these areas attract other companies, especially American ones to come to Romania. Therefore about 10% of the Eu money is absorbed now.There are about 5 billion euro from EU, of which 10% is spent and that is a problem. The money should be spent on infrastructure. The factory and other firms in the Craiova area would be helped by American firms building spare parts or parts for these cars. That happened in the Us and that is the secret of growth, it has been the secret of the US growth, the ambassador added.

Sursa: http://www.actmedia.eu

Tags: american romania investments level decisions investors ambassador euro

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