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Foreign investment in Romania doubles in first five months of 2008

Foreign investment in Romania in the first five months of 2008 were double the volume recorded in the first five months of 2007, with the value of the share capital subscribed by foreign companies in their local subsidiaries standing at 1.8 billion euro, according to data with the National Companies Register Office (ONRC).

Subscriptions in companies running on foreign capital, January through May 2007, stood at 890 million euros. In May 2008, foreign investment reached 120 million euros only, down from a record 700 million euros in January. Yet, foreign investment in May 2008 was 30 percent larger than in May 2007. The subscribed capital advanced in the first five months of the year, although the number of start-ups was down at 5,600, from 6,515. The most important player in terms of investment was Ion Tiriac Air, which increased its capital by almost 167 million euros, according to data with the ONRC. The second place in the same terms went to Omniasig Vienna Insurance Group, in which the majority shareholder injected 30.6 million euros. In the finance and banking sector, significant capital subscriptions this May were reported by Domenia Credit, MKB Romexterra Bank and AIG Life Asigurari. Domenia Credit, a mortgagor owned by the US giant General Electric, received 11 million euros in a capital injection. Capital subscriptions in companies running on foreign capital is only one component taken into account for quantifying direct foreign investment. Data with the National Bank of Romania (BNR) indicate that direct foreign investment stood at 4.11 billion euros, January through May 2008, 59 percent of which was made up of shareholding contributions and 41 percent of intra-group loans. Sursa: http://www.rompress.ro

Tags: foreign capital investment million romania first months euros bnr euro air

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