Romania ranks 8th by greenfield foreign investment projects worldwide

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Romania ranked 8th worldwide last year by greenfield foreign investments, with 366 such projects, shows the World Investment Report worked out by the United Nations Conference on Trade and Development (UNCTAD).
The report also highlights that Romania was the leader of the Eastern European area last year by the number of foreign-owned companies – 155,517 -, “which points to the improvement of the business climate”, vice president of the Romanian Agency for Foreign Investment (ARIS) Monica Barbuletiu said.
 
She told Ziarul financiar daily that the foreign direct investments last year were backed by the greenfield projects more than in 2006, when major privatisations took place.
Romania ranks 2nd in the region by the number of greenfield projects in the last five years, thus proving “Romania’s real attractiveness to the foreign investors”, Barbuletiu stressed.
According to figures made public by ARIS, as many as 1,384 projects have been implemented since 2003, with Romania following in the footsteps of Poland, which has 1,445 such projects.
 
The world ranking of the countries by greenfield projects in the first quarter of this year places Romania on the 12th spot.
“The foreign investments immediately after 2000 were backed by the major privatisations, but such investments have been based on greenfield projects mostly in the last years”, said executive director of the Foreign Investors Council Doina Ciomag.
Foreign direct investments totalled 7.14 million euros last year, placing Romania 2nd in the region, 13th in the European Union and 70th in the world rankings, depending on the capital flow it drew.
 
“In the first seven months of the year, the foreign direct investments amounted to 5.7 billion euros, by 30% more than in the same period a year ago. Amid such developments, we’ll exceed the 8 billion euros estimated at the beginning of the year by far”, ARIS vice president said.
Romania doesn’t have “foreign investment outflows”, meaning that the Romanian companies do not expand in other foreign markets, with Romania being the only European country having posted a negative value at minus 45 million euros in this respect, last year.
 
“The negative values of the capital outflows point to the fact that at least one of the components of the foreign direct investments, i.e. the capital flow, the re-invested profit or the borrowing among the company subsidiaries is negative”, the UNCTAD report says. “We do not have businessmen to invest outside Romania. There are many businesses that have been set up in order to be sold later. But it isn’t the Romanian state’s role to stimulate the investments of the private environment abroad”, spokesman of the National Bank of Romania Mugur Stet said.
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