Austria-Romania Roundtable Business Conference & Awards 2010

Addressing issues that commonly hinder the Romanian business environment, such as poor infrastructure, lack of transparency and difficulties with public procurements, the Austrian investors expressed hope that the Romanian authorities would be able to address and correct these problems. Asked to share his views on the subject, Rudolf Lukavsky, Commercial Counselor with the Austrian Embassy, told the participants that the problems here are largely the same for all investors. “Investors suffer because of the poor infrastructure and slow implementation of infrastructure projects. Of course, it would be very useful if EU-funded projects could be implemented and carried out faster. Foreign investors and, in our case, Austrian investors also suffer because of the existing irregularities in areas such as public procurements, so transparency and tough measures against corruption would be highly needed to overcome this situation,” said Lukavsky. The Austrian diplomat added: 'A problem that emerged last year refers to the fact that court proceedings have been getting worse and the slow reaction of the courts is not something that helps foreign investors. But we do know that the Romanian government is well aware of these issues. We just hope that everything will be done to rectify these issues quickly.'
Meanwhile, Austrian investors have been focusing on countering the effects that the financial crisis has had on their businesses, emphasizing that innovative strategies are key to survival and growth in difficult times. Reviewing the recent trends followed by Austrian investors, Lukavsky said the Austrian companies were more cautious last year. “However we still saw new investments in 2009, such as the opening of a new chipboard plant in Brasov by Kronospan. In turn, Gebruder Weiss opened a new logistics terminal in Bucharest last year and we also saw new developments in real estate. This year we expect new investments, particularly in the renewable energy sector and possibly in other areas of the industry. Of course, retail is a sector which has seen constant growth. For example, companies such as Baumax, Kika and Billa are constantly expanding their networks in Romania,” said Rudolf Lukavsky.
The conference also included an awards ceremony aimed at recognizing the successes of some of the most prominent Austrian companies and banks operating in Romania.
Please see our next edition for more information and photographs from this important annual business event.