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Austria-Romania Roundtable Business Conference

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Possessing large amounts of untapped development potential, Romania continues to be an attractive market for Austrian investments, participants to Business Arena's Austria-Romania Roundtable Business Conference have agreed.
Business leaders, investors and entrepreneurs got together to discuss and share their views on the latest economic trends and challenges and their impact on Austrian investments in Romania, bilateral trade, development prospects and challenges. Frequent changes in legislation and taxation, stuffy bureaucracy continue to represent major hurdles for investors in Romania. However, Austrian investors have positive expectations and continue to remain strongly committed to their development plans in this country.

Providing an overview of the Austrian investment and trade activities in Romania, Her Excellency Mrs. Isabel Rauscher, Ambassador of the Republic of Austria, pointed out that Austria’s economic presence here was “impressive.” She said: “As you know, the two largest Austrian post-war investments were made in Romania, OMV Petrom and BCR Erste. There have never been such investments abroad before or after. Austria was a country of small- and medium-scale enterprises, and it was only due to the fall of the Iron Curtain that Austrian companies again were able to pick up. We never had the Swedish or Swiss grand multinationals, but this is changing and Romania was the key example for investments on a large scale.”

   

On the trade front, the latest figures provided by Her Excellency showed a nine per cent increase from the year before to 3.65 billion euros.  She added: “Another figure which is very impressive in the total Austrian investment. Before I came to Bucharest I was in a very different part of the world, dealing with very different issues and hardly any Austrian investment. It was a warzone and far away. When I arrived in Romania, preparing for my posting here, I saw the investment figures and I found them simply mind-boggling for a small country like Austria. Depending on the way the investments are counted, we have two statistics. One speaks of 7.5 billion euros, and the other, which is the most recent one from the Romanian National Bank, puts Austrian investments at 8.3 billion euros. Given that Austria has a population of right million, it’s not bad. Some 7,000 companies have been registered here, but over 3,000 companies are permanently active here, employing directly over 100,000 people.”
This year’s edition of Business Arena’s Austria-Romania Roundtable Business Conference was organized in partnership with Holzindustrie Schweighofer, World Class, Julius Meinl and Ramada Plaza, and it was moderated by Larisa Claru.   

For more details and photos from this special event,
see the upcoming print edition of Business Arena. 
 

 

 

  

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