Bureaucracy is sometimes affecting foreign investors in Romania, Traian Basescu says

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Romanian President Traian Basescu, on Tuesday attending the meeting of the members of the Foreign Investors Council, said he was aware sometimes the activity of the foreign investors in Romania is, indeed, affected by the bureaucracy, and by how the legal system functions.

‘I am aware of your activity sometimes being slowdown and negatively influenced by the way in which the legal system is functioning in Romania, including by the discretionary way in which labour conflicts are sold. I am doing everything in my power for Romania to achieve the commitments it had made, both to the foreign investors operating in Romania, and to the international institutions,’ Traian Basescu also said.

He mentioned the Government is currently proposing a series of amendments to the Fiscal Code and invited foreign investors to actively participate in the debates on the issue.

Moreover, the Romanian head of state wanted to refer to the image Romania has in the international business environment, also voicing his will such efforts to ensure the macroeconomic stability made by the country’s responsible, including through the agreement with the IMF, to be reflected in the way the international markets perceive Romania.

Otherwise, the Romanian President appreciated investments carried out in Romania in the latest years as examples of positive signals to potential investors who are currently checking the possibility to enter the domestic market.

Referring to the White Book made by the Council of Foreign Investors, Traian Basescu said he enjoyed finding in the latest issues some of the signals and recommendations he himself has made this year. Thus, the president showed it is in Romania’s best interest to improve the planning and the budget execution, by fighting bureaucracy and corruption, increasing competition and transparency, reforming the justice, as well as improving the infrastructure.

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