Romania is the most attractive destination for South East European investments, according to a study on investment opportunities in the region, conducted by Ernst&Young.
The said document reports that 52 percent of the potential investors interviewed within the study, respectively some 216 managers, indicate that Romania is an attractive destination as compared to 50 percent who think the same about Turkey, 40 percent who opted for Bulgaria and 31 percent for Greece.
With a significant rise in foreign direct investments in the past five years, Romania ranks first as for half of the evaluated criteria: specific abilities referring to the language, culture, values (19 percent), capacity and professional skills of the labor force (19 percent), low labor costs (26 percent), level of taxes and duties (14 percent), way the executives are treated, as well as foreign citizens and company headquarters (13 percent), prospects of productivity growth (25 percent), simplified labor regulations (13 percent), available locations, land cost and legislation in the field (19 percent).
However Romania has some weak points, such as telecommunications infrastructure (12 percent), transport infrastructure and logistics (8 percent), social climate (6 percent) and life quality (5 percent).
According to investors’ perception, more transparency is needed and Romania has to make progress in the field of transport and communications infrastructure (27 percent), elimination of corruption and red tape (19 percent), as well as in securing a stable political background (14 percent).
Ernst&Young study revealed that investors’ perception of the investments environment in South East Europe improved in the past three years, they showing a high degree of confidence in the future, generated by the European Union membership status of the countries in the region.
The study, conducted by Ernst&Young yearly, since 2002, involved telephone interviews with 216 executives. 28 percent are financial managers, 20 percent chairmen and 20 percent executive officers. All are active in the management of some big companies in the world, more than 15 percent with a turnover in excess of 1.5 billion euros.