Investors in Romania will begin to feel positive impact generated by accession to Schengen (minister)
Companies that have already invested in Romania will begin to feel the positive impact generated by the increased speed of goods and services circulation following the country's accession to the Schengen Area, believes Finance Minister Tanczos Barna.
'Accession to the Schengen Area has increased Romania's attractiveness for foreign investments, and I am convinced that companies that have already invested in our country will begin to feel, as early as this year, the positive impact generated by the increased speed of goods and services circulation. Through accession to the OECD [Organisation for Economic Co-operation and Development], which is a process that is being actively pursued, reforming the governance system and integrating Romania among some of the most developed market economies, we will strengthen the country's profile as an attractive destination for foreign investments,' the minister wrote on his Facebook page on Thursday.
He met on Wednesday with a delegation from the Foreign Investors Council (FIC), during which he reconfirmed his commitment to observe the 7-year plan for restoring fiscal balance, through reducing expenditures, improving tax collection and making massive allocations of 150 billion lei for investments that support the economy.
According to the Finance minister, investors play a defining role in Romania's economic growth and their trust is gained through predictability and consistency in fiscal policies.
'Companies in Romania with foreign capital create jobs for over 1 million Romanians. At the same time, these companies have an important role and a huge responsibility in supporting domestic products. We agreed to maintain a constant and transparent dialogue to ensure the continuous improvement of the investment climate, based on predictability and trust,' said Tanczos Barna.
The Foreign Investors Council (FIC) includes about 110 of the largest companies in Romania, with a combined turnover that represents about one-fifth of the gross domestic product and a significant contribution to the state budget. AGERPRES (RO - writing by: Andreea Marinescu; EN - writing by: Adina Panaitescu)
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