Foreign investments up 80 percent in March
Foreign companies continued to inflow capital in the Romanian branches despite the financial crisis, in March foreign investments as capital inflow standing at 230 million euros, up by over 80 percent as against the same month of the previous year, according to information supplied by the National Office of the Trade Registry (ONRC) cited by daily Ziarul Financiar.
This is the first month since the beginning of the year when the level of foreign investments outstrips the one registered in the same months of 2008. ‘The prices went down a lot and wages stagnated considering the crisis, which is important for the companies that can invest at present.
Therefore, Romania will continue to be an attractive destination for investors in the medium and long term,’ said Bogdan Belciu, manager of consulting company AT Kearney Romania cited by the daily.
The ranking of the 40 companies upon the value of subscriptions in the share capital in March is topped by Bancpost, the Greeks of EFG Eurobank bringing 53.5 million euros to the local branch, according to ONRC. On the following positions are retailers Real-Hypermarket Romania, which received an inflow of 31.4 million euros, Kaufland with 31.1 million euros and Roca Sanitary Ware – 18.4 million euros.
Analysts anticipated shrinkage in the capital inflow from foreign companies to local branches, but the latest data prompted them to revise estimates. Therefore, analysts of BCR announced they revised upward the estimates on foreign investments from 4 billion euros to 5 billion euros.
The capital rises in the companies running on foreign capital are a component taken into account at the quantification foreign direct investments. The figures of the National Bank of Romania (BNR) indicate foreign investments worth 1.37 billion euros in the first two months of the year.