Vosganian: Foreign investments worth 30 billion euros in next four years

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The foreign direct investments in Romania in the next four years are estimated to reach 30 billion euros, Romanian Minister of Economy and Finance Varujan Vosganian stated on September 25, while participating in a seminar in the eastern city of Iasi on the economic development of the European Union member states.
 
According to Vosganian, the total investment effort, foreign and domestic both, is to reach 200 billion euros in the next four years, half of the money coming as the result of the public policies.
Out of this amount, 50 billion euros represent budget sources, 20 billion European funds, and 15 billion euros funds for energy, the head of the Romanian finance said.
 
The Liberal Minister also added that the current account deficit rate to be covered from foreign investments increased by almost 60.7% January through June this year, as against 47.7% in the first half of 2007.
Varujan Vosganian is currently paying a 3 day visit to Iasi, where he is to take part together with tens of economists from Romania and abroad both in a seminar on economic development of such states member of the European Union. The central theme of the conference in Iasi is “The Future Europe in a World of Incertitude.”
 
Such issues to be approached will be: “Global Trends and Consequences on Europe,” “Incertitude of World Economic Evolution Correlated with Regional Imbalances” and “Competition and Convergence in Europe.”
The Government decided to organize the seminar in Iasi for the County and the entire northeastern region of Romania to have the chance to be promoted on an international level due to its participation in such events related to the international economic and scientific environment, in the context the areas is, according to Eurostat, ranking last among the European regions.
 
The conference will be carried over September 25-27 and is to bring together economists from more than 20 countries such as Belgium, Germany, Canada, France, Spain, UK, Russia, Bulgaria, the Czech Republic, Slovenia, Latvia, Lithuania, Luxembourg, Greece and the Republic of Moldova.
Moreover, there are to come to Iasi representatives of several international bodies such as the International Monetary Fund, the European Commission and the Organisation for Cooperation and Economic Development.
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