To grow is not an impossible mission
Such recovery in Romania will largely depend on three main drivers: (1) the absorption rate of the EU funds within the economy, (2) the FDI that should start flowing in the country for taking advantage of the relative competitiveness of the Romanian production resources and (3) the export orientation of the Romanian companies.
There is definitely a huge opportunity for Romania to spark a virtuous cycle of growth by putting into action the funds provided by European Union sources and which are intended for the development of the economy. The whole country can be reshaped within the next 10 years, not only in terms of the “classical” hard-core infrastructure (roads, airports, railways, public utility networks), but also in terms of “soft-core” elements, such as reorganization of the public sector (in the form of electronic workflows that reduce bureaucracy and improve transparency of services and costs) and lifelong learning programs for adapting the competences of the workforce to the ever changing business requirements.
The second factor, FDI, is strongly correlated to the progress in the absorption of the above mentioned funds. However, additionally, it is expected that, now that the developed economies have relatively stabilized and can more safely plan for the future, several Western European (and not only) companies will transfer their production facilities to Romania in order to benefit from the production cost differences (workforce, energy, taxes) as compared to their “home base” costs.
Last but not least, the recovering (or already recovered) economies of Romania’s main trading partners (Germany, Italy, France and Turkey) are reasonably expected to fuel the local export industry and contribute to the GDP growth.
In Bancpost, we are ready to support the legal entities that are strategically positioned to take advantage of the above factors. We aim not only to make our customers feel supported, but to encourage them in pursuing their own goals in business. Our Corporate Banking division, geographically present across the country with 15 locations, staffed with experienced Relationship Managers, can provide solutions to companies that have clear growth prospects, a prudent and committed management, and investment plans for becoming more efficient, competitive and innovative.
As part of our entire bank’s key values, we stand responsibly on our customers’ side by providing accessible and affordable financial solutions to their everyday needs. Thus, besides the traditional investment and trade financing solutions, Bancpost’s Corporate Banking product portfolio includes proposals for pre-export financing, VAT financing and protection of incomes from unexpected FX fluctuations. Our people, with the support of experienced product specialists in Global Markets, Transactional Services, Leasing or Factoring, and complemented by sector specialists in industries such as agriculture, energy, IT, health or metal, have a clear business development target for 2011: to grow, hand by hand, with our existing and new clients. And that’s indeed, not an impossible mission.
There is definitely a huge opportunity for Romania to spark a virtuous cycle of growth by putting into action the funds provided by European Union sources and which are intended for the development of the economy. The whole country can be reshaped within the next 10 years, not only in terms of the “classical” hard-core infrastructure (roads, airports, railways, public utility networks), but also in terms of “soft-core” elements, such as reorganization of the public sector (in the form of electronic workflows that reduce bureaucracy and improve transparency of services and costs) and lifelong learning programs for adapting the competences of the workforce to the ever changing business requirements.
The second factor, FDI, is strongly correlated to the progress in the absorption of the above mentioned funds. However, additionally, it is expected that, now that the developed economies have relatively stabilized and can more safely plan for the future, several Western European (and not only) companies will transfer their production facilities to Romania in order to benefit from the production cost differences (workforce, energy, taxes) as compared to their “home base” costs.
Last but not least, the recovering (or already recovered) economies of Romania’s main trading partners (Germany, Italy, France and Turkey) are reasonably expected to fuel the local export industry and contribute to the GDP growth.
In Bancpost, we are ready to support the legal entities that are strategically positioned to take advantage of the above factors. We aim not only to make our customers feel supported, but to encourage them in pursuing their own goals in business. Our Corporate Banking division, geographically present across the country with 15 locations, staffed with experienced Relationship Managers, can provide solutions to companies that have clear growth prospects, a prudent and committed management, and investment plans for becoming more efficient, competitive and innovative.
As part of our entire bank’s key values, we stand responsibly on our customers’ side by providing accessible and affordable financial solutions to their everyday needs. Thus, besides the traditional investment and trade financing solutions, Bancpost’s Corporate Banking product portfolio includes proposals for pre-export financing, VAT financing and protection of incomes from unexpected FX fluctuations. Our people, with the support of experienced product specialists in Global Markets, Transactional Services, Leasing or Factoring, and complemented by sector specialists in industries such as agriculture, energy, IT, health or metal, have a clear business development target for 2011: to grow, hand by hand, with our existing and new clients. And that’s indeed, not an impossible mission.
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