Foreign investments hit record four-month high
ROMPRES - Romanian News Agency - 18 Iunie 2008
Foreign direct investments attracted in the first four months of the year hit a record high of 3.2 billion euro, twice the figure registered in the same period of the previous year, at a time when resources drawn in in the last month alone stood at almost 1.6 billion euro, reveals data of the National Bank of Romania (BNR).
This is the highest foreign investment amount in the last three years for the interval January - April, with the 2.3 billion euro registered in 2006 being closest to this figure.
The fact that April's foreign investments equaled the figure registered in the first three months of the year is due to the completion of the privatization of Electrica Muntenia Sud and the transfer of the money by Italy's Enel, that paid 820 million euro at the end of April for the takeover of the majority stake in the electricity distributor; of this amount, the state collected 394.8 million euro, whereas the rest of 425.2 million represented the capital increase performed with the acquired company.
BNR data shows that 70 pct of the foreign investments drawn in between January - April were participation in capital and reinvested profit, the rest were credits disbursed by foreign companies to their local branches. Compared to the same period of the year before, the share of intra-group loans decreased 8 pct. In Q1, the National Trade Registrar Office reported a record high foreign investments in contribution to the companies' share capital. This was 1.36 billion euro, almost three times more than in the same interval of 2007.
Foreign direct investments attracted in 2007 were 7.2 billion euro, and they might exceed eight billion euro this year.
Sursa: http://www.rompress.ro
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