Oct 31, 2014
Nadia Crisan Speaks on Future of New Investments in Romania and TTIP
Nadia reinforced the importance of political stability in attracting new investments to Romania. She cautioned that the ongoing tensions in Ukraine might lead to investors reconsidering the position in the region, Romania being a potential site for developing their operations.
"Regional developments might open the way for new investments in Romania, however the next President would have to support the country’s interests in this respect, in full accordance with the Executive decisions formulated by the Government," said Ms. Crisan. "The Cabinet has already triggered positive signals for businesses, supporting the private sector and foreign investors through financial incentives - the new state aid scheme for large investments, with great results in the automotive sector. This is good news for companies that are either reassessing their strategy with regards to Ukraine or plan to expand production already running in Romania.
"Agriculture is another top priority for Romania. Our country has huge potential and productive resources, but lacks strategic investors. This is mainly caused by a high rate of non-registered land and significant tax evasion on the production chain. We see farmers unable to connect to basic agricultural infrastructure due to lack of financial sustainability. The authorities should encourage them to join associations, consolidate their position and rebuild Romania’s agriculture."
Less than one month ahead of the Presidential election in Romania, AmCham publicly shared a list of top priorities supporting economic growth and efficient policies in all strategic sectors, based on transparency and a solid inter-agency process. Technology and innovation, education, agriculture, energy and healthcare are seen as most important industries for Romania's future progress, under a new President and most likely a new Cabinet.
Nadia also raised the American perspective on a nation’s sustainable development and the need for Romania to support the US-EU negotiations for the Transatlantic Trade and Investment Partnership (TTIP).
"Our country should make all efforts to support the TTIP negotiations for the benefit of local producers," said Ms. Crisan. "This is a project that should not be delayed by the administrative process on both sides: the US Senate elections this fall or the new European Commission to take its mandate. Romania must push for successful negotiations, as a strategic US ally and an emerging EU member."
Below is a snapshot of the media coverage on the event and McGuireWoods Romania statements.