Austria-Romania Roundtable Business Conference & Awards 2012
Austrian businesses keep spirits up
Banking on solid economic recovery in the medium term, the participants to this year’s edition of Business Arena’s Romania – Austria Roundtable Conference and Awards expect good business prospects up ahead.
Speaking about the economic relations between the two countries, Rudolf Lukavsky, Commercial Counselor with the Austrian Embassy, told the participants that the bilateral trade stood at three billion Euro, with Austrian exports to Romania accounting for 1.9 billion Euro of the total. “The volume of Romanian exports to Austria reached an all-time-high in 2011. There has also been a change in the portfolio of products. We no longer have the customary agricultural products, textiles, leather products and raw materials. Nowadays, Romania exports more and more industrial products to Austria,” said Lukavsky.
Referring to investments, he emphasized that Austria was a very strong investor, not only in Romania, but in the entire CEE region. “Austria is the number one investor in many of the countries in the region. In Romania, Austria is the second-largest investor, with 9.4 billion Euro, accounting for 18 per cent of FDI according to statistics. More than 6,000 Romanian companies have Austrian participation to their capital and they employ some 100,000 people combined. Austrian investments are present in virtually all sectors, including agriculture, forestry, industry and services. To name just a few prominent examples, Austria is market leader in banking and insurance. Austrian operations in the banking sector account for nearly 40 per cent of the Romanian banking market,” said Lukavsky.
He also indicated that OMV was the biggest tax payer in Romania and the largest employer in the private sector, following its initial investment of 1.5 billion Euro in Petrom in 2004 and ongoing investments of around one billion Euro every year. At the same time, the Austrian diplomat mentioned the importance of the many hundreds of small and medium-sized companies, which ensure Austria’s strong position as a business partner for Romania.
Hosted by the JW Marriott Bucharest Grand Hotel, the event was organized in partnership with Bostina & Associates, Volksbank Romania, Baumax, Iulius Meinl, and Corporate Baskets. The event ended with an award ceremony to recognize the outstanding achievements of Austrian and Austria-related operations.
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Banking on solid economic recovery in the medium term, the participants to this year’s edition of Business Arena’s Romania – Austria Roundtable Conference and Awards expect good business prospects up ahead.
Speaking about the economic relations between the two countries, Rudolf Lukavsky, Commercial Counselor with the Austrian Embassy, told the participants that the bilateral trade stood at three billion Euro, with Austrian exports to Romania accounting for 1.9 billion Euro of the total. “The volume of Romanian exports to Austria reached an all-time-high in 2011. There has also been a change in the portfolio of products. We no longer have the customary agricultural products, textiles, leather products and raw materials. Nowadays, Romania exports more and more industrial products to Austria,” said Lukavsky.
Referring to investments, he emphasized that Austria was a very strong investor, not only in Romania, but in the entire CEE region. “Austria is the number one investor in many of the countries in the region. In Romania, Austria is the second-largest investor, with 9.4 billion Euro, accounting for 18 per cent of FDI according to statistics. More than 6,000 Romanian companies have Austrian participation to their capital and they employ some 100,000 people combined. Austrian investments are present in virtually all sectors, including agriculture, forestry, industry and services. To name just a few prominent examples, Austria is market leader in banking and insurance. Austrian operations in the banking sector account for nearly 40 per cent of the Romanian banking market,” said Lukavsky.
He also indicated that OMV was the biggest tax payer in Romania and the largest employer in the private sector, following its initial investment of 1.5 billion Euro in Petrom in 2004 and ongoing investments of around one billion Euro every year. At the same time, the Austrian diplomat mentioned the importance of the many hundreds of small and medium-sized companies, which ensure Austria’s strong position as a business partner for Romania.
Hosted by the JW Marriott Bucharest Grand Hotel, the event was organized in partnership with Bostina & Associates, Volksbank Romania, Baumax, Iulius Meinl, and Corporate Baskets. The event ended with an award ceremony to recognize the outstanding achievements of Austrian and Austria-related operations.
To read the full version, see the print edition of Business Arena.
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