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Mariana Gheorghe, CIS: In 2010 foreign investors withdrew EUR 800 mn projects from Romania because of economic policies

'Romania is faced with a lack of priorities for resources and with the lack of resources. The government is working on a list of priority investments and we, foreign investors suggest a possible priority', the president of the Foreign Investors' Council, Mariana Gheorghe said.

The lack of concrete, visible and strong measures could lead to measures adopted by investors which are not always the best measures. According to the head of Petrom, foreigners stopped or withdrew from the Romanian market projects of 800 million euro. 'the investors' reaction was due to the lack of predictability and of some elements of economic policy,' Mariana Gheorghe said during the presentation of the current stage of the ten steps aimed at the Romanian economy's recovery, a programme scheduled by CIS, on Thursday.

The foreign investors plan projects worth ten-billion euros, in Romania, by 2015, and the laws and the circumstances facilitating the investments must be key goals to the authorities, Foreign Investors Council (CIS) president Mariana Gheorghe said .

'Our program's targets are to set up a new economic pattern, based on exports and investments, which is a constant of the measures we proposed, in last Oct. Dailies informed that the foreign investors postponed or canceled projects worth about 800 million euros, in 2010. What is important now is that the foreign investors' current projects will reach ten billion euros, in Romania, by 2015,' Gheorghe explained, adding that the foreign investors expect the officials to issue an easier taxation framework to facilitate the investments through predictability for the investors, to curb the red-tape as well as to enable such investments.

CIS presented at a press confefrence the list of the ten main projects (of the existing 46,000) which should be carried out, according to a cost/benefit analysis made by FIC members. According to the document, NAdlac-Sibiu Highway as part of Corridor IV, connecting Western Europe to the Black Sea, Bucharest-Brasov highway, Craiova-Bucharest infrastructure projects, Tarnita hydropower plant and obtaining government support for the pan-European project Extreme Light Infrastructure are among the first ten projects.

'At present there are about 46,000 investment projects in Romania involving public money. Due to budget constriction, capital expenses of less than 5 billion euro, these investment projects have to be prioritized,' Lazea declared.Ministries have their own priorities. Tarnita-Lapusesti hydropower plant is the first out of 4 priority investments in 2011 made by the Ministry of Economy. It is followed by Units 3 and 4 at Cernavoda Nuclear Plant, Azerbaijan-Georgia-Romania interconnector and the demonstrative project for carbon capture and storing at Turceni Power Complex. Premier Boc has recently asked a list of 4-5 big investment projects planned for 2011 from each ministry.

The Foreign Investors Council numbers 125 members holding 60 percent of the foreign investments in Romania, and over 30 percent of the country's GDP.

Sursa: http://www.actmedia.eu

Tags: investors foreign projects investments economic romania gheorghe mariana euro

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