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Foreign investments hit record high at end-April

Foreign direct investments (FDI) over January - April this year totaled 3.2 bln euro, reveals data supplied by the National Bank of Romania (BNR). This figure is almost equal to the combined estimated direct foreign investments of 2001, 2002 and 2003 and twice as high as that registered between January - April 2007. The FDI from January 1 to April 30, 2008 are almost half that of the entire year 2007 (7.2 bln euro).

As a consequence of this skyrocketing evolution, both BNR and the National Projections Commission (CNP) intend to revise upwards their estimations on 2008 direct foreign investments. BNR experts said the figure would be 7.8 billion euro, without shutting out the possibility that it might even be exceeded. Another positive effect is that foreign investments cover two thirds of the current account deficit (4.8 bln euro over the first four months of the year), which is also explainable by the serious slowdown in this indicator's growth rate in 2008. According to BNR data, 70 pct of the money comes from capital contributions (company establishment, but mainly share capital rises), 30 pct comes from intra-group credits (loans raised by the Romanian branch of a foreign company from the parent company or another branch from abroad). By the amount of capital increases, gas distributor E.On Gaz Romania ranks first with over 300 million euro, followed by telecommunications operators Zapp - with a 130 million euro increase performed in two stages and Cosmote - almost 90 million euro. The Netherlands remains the largest foreign investor with more than 750 million euro, followed by Germany (418 million euro) and Greece (110 million euro). By territorial distribution, the bulk of the amount flowed into the accounts of companies headquartered in Bucharest and the neighboring Ilfov county. CNP president Ion Ghizdeanu considers that Romania has several advantages to offer, which foreign businesspeople are well aware of: lesser risk than on traditional markets and being just at the start of the process of absorbing European funds. Moreover, unlike other markets in the region, Romania's local market is still far from saturation. Sursa: http://www.rompress.ro

Tags: euro foreign million april investments bnr

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