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'Hottest' domains for foreign investments in 2011: Regenerating energy and automobiles

Romania is negotiating 17 foreign investment projects worth 1.150 billion euro, most of them in the field of regenerating energy, automobiles and steel industry.

Compared to the first 6 months of 2010, the number of investment intentions is slightly dropping, but the total value is superior. In the first 6 months of 2011, the Foreign Investment Department from the Romanian Center for the Promotion of Trade and Foreign Investments (CRPCIS) registered 17 foreign investments in the intention stage, worth 1.150 billion euro, compared to 20 projects worth 1.076 billion euro recorded in the same period of 2010. 'As seen by above mentioned figures we see that although we had thee projects less than last year, their value is higher than in 2010. That makes us think that, from the perspective of big investors who do not represent companies which could easily withdraw from the market at the first investment barrier, but which have in view market allowing long term investments, Romania remains an attractive country,' CRPCIS representatives told Mediafax.

They estimate for this year that Romania will attract direct foreign investments of 3.5-4 billion euro, on the rise by 30-48% compared to 2.69 billion euro in 2010.'The fields of interest for foreign investors have remained the same as in previous years – regenerating energy, which is an attractive field for foreign investors, as well as automobiles. Other fields are steel industry, electric and electronic appliances, building materials, road infrastructure, pharmaceuticals, agriculture, tourism, consumer goods, services,' CRPCIS data show. CRPCIS is subordinated to the Ministry of Economy, Trade and Business.

The most attractive area for investors is still the west of the country, although other regions like Prahova, Dolj, Dambovita and Constanta have been attracting significant foreign capital.

'We want a balanced distribution of investments in Romania and we have tried to convince investors of the advantages of implementing their projects in the eastern area too, being aware that foreign capital infusion and creating jobs will lead to a higher living standard and implicitly to the development of the region. In this respect, we have led a campaign of making local authorities more sensitive and convince them of the importance of building industrial parks and areas with access to utilities and big land areas, allowing the development of important projects,' the quoted source added.

One of the most frequent problems raised by foreign investors concerns the capacity of the labour market in Romania to supply trained personnel for top and middle management positions.

'An aspect which cannot be neglected in attracting foreign capital is the fact that foreign investors are sensitive to living conditions, living standards, cultural opportunities offered by the place they choose as they detach a number of expats who come with their families in the first years of project implementation. The fact that the place where they live offers them a social and cultural life is a favorable aspect for choosing the location', according to the quoted source.

Investors are also interested in ensuring conditions allowing access to developed transport and communication networks, such as airports with multiple international connections as well as to computer services in order to carry out activities in the best conditions. The most important six investment projects initiated this year have a total value of 240 million euro and will create 1,260 jobs.

The 120 million euro investment of Prio company, part of Martifer group of Portugal, in the field of biodiesel production is the biggest project initiated this year. The company will create 80 jobs in Lehliu Gara, Calarasi county.Other important projects are the electronic part factory of the Korean company Shinheung in Oradea, a 30 million euro investment, as well as that of the American company IAC (International Automotive Components) in the field of car parts, with a value of 57 million euro, from Bals, Dolj county.The American company Toro, a producer of irrigation Microsystems, is investing 20 million euro in Ploiesti, while the Spanish producer of solar panels, Siliken allots 5 million euro for a factory in Timisoara.

Direct foreign investments totaled 444 million euro in the first four months, on the drop by 28.7% from 623 million euro in the same period of 2010.

Sursa: http://www.actmedia.eu

Tags: foreign euro billion first investors company million projects regenerating investments investment energy automobiles romania car

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