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WB Economist: Foreign investments have not contributed much to Romania's economy

The foreign investments carried out in Romania have not contributed much to the national economy and the added value created by the foreign companies is the lowest in Central Europe, World Bank (WB) Senior Economist, specialist in the private and financial sector Donato De Rosa told a press conference in Bucharest on Thursday.

Both the Romanian and the foreign enterprises operating in Romania are less productive than in other countries in Europe, but the domestic companies have registered a faster productivity growth than the foreign companies. This means that the foreign investments made in the mature sectors of the Romanian economy have produced the lowest added value in Central Europe, De Rosa explained.

The positive aspect is that the foreign companies were a model to the local ones and, at the same time, had a training effect on the business environment, the WB Economist showed.

According to the WB data, the annual growth of the added value generated by the foreign companies in Romania between 2003 and 2008 stood at only 2.6 percent, while for the local companies the growth accounted for 5.9 percent. The domestic enterprises registered the second largest increase in the added value in the region, being exceeded only by the companies in Poland, which registered 7.1 percent.

Nevertheless, the foreign companies in Romania witnessed the lowest annual increase in the added value in Central Europe, those in the Czech Republic (4.3 percent), Poland (12.4 percent), Slovenia (10.1 percent) and Estonia (2.9 percent) registering significantly higher rates.

Sursa: http://www.actmedia.eu

Tags: foreign companies percent value economy investments economist added

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