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Romania expects investments of 2bn euro in three key-fields

The foreign investors in automotive, food production and construction material fields have pledged investments of 2bn euro by 2012 and the hiring of 16,000 people, reads an analysis published on Thursday by Ziarul financiar daily, which took into account only the projects bigger than 20m euro.

The level of the foreign direct investments registered in the first 5 months of 2008 stood at 4.11bn euro, double versus the same period in 2007, whereas other states in the area, including Bulgaria, drew a lower volume of investments versus 2007.

The biggest investments announced in Romania are in the automotive field, where Renault and Ford are making or will make investments of almost 700m euro each, in the capacities based in Titu, Pitesti and Craiova.

'The local automotive industry continues to have the capacity of drawing foreign investments, given that we have now two international carmakers in Romania (Ford and Renault, the editor's note). These will continue to draw investments, but we also have to work on infrastructure and we must not forget the well-known Mercedes case,' says Ernest Popovici, president of the Association of Car Makers and Importers (APIA).

One of the main reasons why these investors chose Romania continues to be the salaries that are still much below the level in the Western European states, namely approximately one quarter, if the average salary is considered. Thus these companies count also on hiring some 16,000 people.

In addition to the two big carmakers (Renault and Ford) and the car components firms (Delphi, Pirelli, Honsel), important investors in the food production or in construction materials have announced investments of hundreds of millions of euro on the local market.Thus, the Americans with Pepsi will invest 100m dollars (65m euro) for building a soft drinks factory outside Bucharest, near the motorway connecting the capital city to Pitesti. The Polish group Maspex will build a new Tymbark factory in Valenii de Munte, on an investment of 30m euro.

On the other hand, the Americans with Smithfield have announced investments of 30m euro in a factory of combined fodder in Vinga locality (Arad County).

The construction sector will draw significant investments in various areas of the country. One of the most important such investments was announced last month by the German group Knauf, which will start next year the construction of a plasterboard factory near Cluj, on an investment of some 70m euro.

Sursa: http://www.rompress.ro

Tags: investments euro romania car

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