EY ROMANIA

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BOGDAN ION

  |  08.09.2015

Romania climbs for the first time in top 15 most attractive countries in Europe regarding the number of FDI projects

Romania became the sixth country in Europe by the number of FDI jobs created, with a record number of 10,892 new jobs in 2014.

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FDI projects
EY Romania

BOGDAN ION

BOGDAN ION

COUNTRY MANAGING PARTNER at EY ROMANIA

Romania climbs for the first time in top 15 most attractive countries in Europe regarding the number of FDI projects attracted in 2014, according to EY’s annual report – European Attractiveness Survey, which analyzed the responses received from 808 top executives. Last year, countries such as Poland, Serbia and The Czech Republic were present in this ranking, but this year, the only country in Central and Eastern Europe present in this top alongside Romania is Poland.


In 2014, Romania succeeded in attracting 62 FDI project, 19% more than in 2013. Furthermore, Romania became the sixth country in Europe considering the number of FDI jobs created, exceeding Spain, Turkey and Slovakia. With a record number of 10,892 new FDI jobs, our country practically attracted almost as many jobs as Germany, registering a 77% growth of FDI jobs year-on-year.


Foreign investors are looking at Romania, but most of the times because of its cheap labor force. It is highly important that we go beyond this perception and attract those investments that create highlyqualified and well-paid jobs, which can motivate Romanian specialists to stay in the country and create added-value here.


Looking at this year’s macroeconomic picture, Romania’s economic performance in Q1 was stronger than expected, with a quarterly 1.6% rise in GDP lifting annual growth to 4.2%. While this pace is very unlikely to be sustained during the rest of the year, the outlook still appears relatively optimistic. Indeed, the European Commission measure of economic sentiment in Romania reached a new six-year high in April. Provided that the Eurozone recovery does not fizzle out, we expect Romania’s GDP to grow by 3.1% in 2015 and 3.2% in 2016, before edging a little higher in 2017-2019.

 

 

In 2014, real household consumption grew at its fastest pace since 2008, including a 2.6% quarterly gain in Q4. And the strong data have carried over into this year, with average wages growing by nearly 7% year-on-year in January and February.


We expect private consumption to grow by over 4% in 2015, following on from the 5% expansion recorded in 2014. Robust wage growth, of over 6%, combined with very low inflation is boosting consumers’ purchasing power.

 

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