What happened in the first half half of 2017 that might be important for business? Continue reading Romania in 2017 in Brief
On 30 June 2017, BET, the main index at the Bucharest Stock Exchange (BVB), closed at 7,855 points, thus reaching 18.87 per cent growth in the first half of the year. At the same time, the average daily value of transactions increased by more than 30 per cent to €9.68 million and market capitalisation of all companies listed exceeded €37 billion. Continue reading Romanian Upgrade to Emerging Market is on the Cards
In the current European context, not many European leftist parties are successful in elections. From Western Europe to the new democracies, either populism or anti-establishment parties are seizing the moment. On the other hand, the Romanian Social-Democrats (PSD) held a steady grip on their electoral share, with a sweeping 45 per cent in the national elections, less than a year ago. Continue reading Surprising Resilience of Romanian Social-Democrats
The five scenarios Jean Claude Juncker recently presented, concerning the future of the EU, are still provoking lively conversation in all corners of the European continent. Seen from Bucharest, the future, as described by the Commission’s White Paper, looks both simple and complicated. Continue reading Juncker’s “More, Together” Offers Romania a Better Future
The fight against corruption in Romania seems to be a never-ending story and corruption has very often been closely associated with the country. Continue reading Romania Says No to Corruption
Before 1989, quite a few countries in Central and Eastern Europe had their own car brands. Today, car manufacturers have located their production facilities across the region, and only two countries can still boast about their own brands: the Czech Republic’s Škoda and Romania’s Dacia. Continue reading Driving the Romanian Automotive Industry
It is unfortunate that, in the current geopolitical climate, anyone from overseas is considered a potential threat to our so-called way of life and British values. Continue reading A Family Between Britain and Romania
Romania will be the hot corporate story of the next decade in Europe, says Panagiotis Diamadis, CEO of IEBA TRUST, a licensed brokerage company in the Bucharest Stock Exchange. He spoke to Andrew Wrobel about what can foster future growth in the Romanian capital market. Continue reading Romania Will Be a Hot Topic in Europe
For Frederic Beigbeder, the author of L’amour dure trois ans, love lasts three years but things are rather different in the case of the love that the Netherlands and Romania enjoy. Their relationship started in 1880, when the two countries began a diplomatic dialogue. Fast forward to 2017, and the Netherlands is the largest foreign investor in Romania with some 4,400 firms with Dutch capital. Continue reading Netherlands and Romania’s Love-Match Continues
Our focus should be on how we can turn high broadband speed into meaningful advantages on the Digital Economy and Society Index, says Teofil Mureşan, chairman of the board at Electrogrup. He talked to Jerry Cameron about the need for consolidation in the market as well as the impact infrastructure sharing might have on the economy. Continue reading Merging and Growing Romania’s Outstanding Broadband and Other Infrastructures
As far as the UK sourcing market is concerned, Romania has been on the periphery of the sourcing radar for some time now, but has never really made it to the front and centre.
We want the story of Romania to be the story of a dynamic, vibrant and innovative country, says Matteo Patrone, Director for Romania and Regional Head Romania and Bulgaria at the European Bank for Reconstruction and Development (EBRD). He spoke to Andrew Wrobel about the country’s greatest challenges. Continue reading The Goal for Romania — the Positives Outweigh the Negatives
Over the past three years, the Romanian economy has recorded some of the fastest growth rates in the European Union, helped by a rapid expansion of consumer spending. Continue reading Romanian Market Moving Towards Rebalancing
Romania has transformed itself tremendously in the last 25 years, overcoming enormous challenges, says Elisabetta Capannelli, Country Manager for Romania and Hungary at the World Bank. She spoke to Andrew Wrobel about the country’s potential and challenges it is facing. Continue reading Romania’s European Values Are Changing Public Misinformed Opinions
Unlike other countries in Eastern Europe, which took fairly ambitious steps to swiftly privatise key sectors of their economies in the years immediately following the fall of Communism in 1989, Romania’s experience with privatisation has been one that is marked by delays, fits and starts. Continue reading Privatisation, Past and Present in Romania
The Romanian economy is slowly transforming into a service-oriented one, with IT services registering the highest growth, in all components of the GDP over the last two years and half. This has raised the requirements for quality office accommodation that can support a new generation of white-collar workers. Continue reading Office Real-Estate Is Burgeoning in Romania
Only six months after winning the parliamentary elections, Romania’s Social Democratic Party is in turmoil following an attempt by the party’s leader, Liviu Dragnea, to remove the current Prime Minister, Sorin Grindeanu. With the party set for a key parliamentary vote on whether to keep the Prime Minister in power, it seems that both Grindeanu and Dragnea’s political futures now hang in the balance. Continue reading Political In-fighting Must Be Resolved
The Romanian banking system is undoubtedly the banking system with the highest liquidity level in the European Union because of its 40 per cent immediate liquidity, which at present features advanced structural stability and one of the best capitalised systems. Continue reading Romanian Banks Must Use Lessons Learned
In the first quarter of 2017, the value of transactions on the regulated market of the Bucharest Stock Exchange (BVB) climbed to a six-year high and reached €530 million while the number of transactions and traded volumes climbed to a seven-year high. Ludwik Sobolewski, CEO of the BVB, spoke to Andrew Wrobel, about the effects that could positively influence the country once it gains emerging market status, and the increased interest shown by private companies to be listed on the stock exchange.
The Socialist-led government, in office since the beginning of the year, has started implementing its popular election programme by further cutting the VAT rate and increasing minimum wages, as well as public sector salaries. This has given a boost to consumption which accelerated real GDP growth in the first quarter of 2017, to an unexpectedly high 5.7 per cent, year on year. Continue reading Robust First-Quarter Growth in Romania
The way in which Romania prepares for the presidency of the EU Council and how it finalises this are paramount for its role in a future Europe, says Cristian Buchiu, deputy head of the EU Representation to Romania. He talked to Jerry Cameron about the country’s ten years of EU membership. Continue reading Romania Works to Cement its Position in the EU
Seeing that Romania was going in the right direction, economically and socially, made me want to come back to the country after almost two decades of living and working in the UK, says Alexandru Petrescu, Romanian Minister for Business Environment, Commerce and Entrepreneurship. He spoke to Andrew Wrobel about the prospects for the economy and the changes the government is implementing. Continue reading Alexandru Petrescu: Romania Is Working to Solidify the Highest Growth Rate in Europe
2017 is a landmark year for US–Romanian bilateral cooperation. It marks the 20th anniversary of the Strategic Partnership for the 21st century between the two states, whose overall tradition of diplomatic relations is over a century old. Continue reading 20 Years of Romanian-US Cooperation
Roughly three years ago, after graduating from UCLA Anderson and developing a severe allergy to cubicles, I moved from perpetually sunny Los Angeles to Cluj, Romania—the heart of Transylvania. Through an extremely circuitous path, I took over a non-profit that was trying to be an accelerator; I built a team and an accelerator programme, had an exit out of the first batch and raised the first accelerator/pre-seed fund in Romania, appropriately named Risky Business. Continue reading Risky (but Rewarding) Business
Since entering the European Union, Romania has shown great potential for developing its innovation areas. Continue reading Romania Could Catch Up in Innovation
Romania’s diplomatic and commercial affairs with the United Kingdom of Great Britain and Northern Ireland go back 140 years, and we proudly name the UK amongst our most valued and respected strategic partners. Continue reading Romania’s 140 Years of UK Cooperation
The Romanian energy market has gone through a process of accelerated growth in recent years, leading to the emergence of new energy needs and solutions. The steps that have been taken to achieve a high-performance energy system, although still early, are vital for Romania’s chances of becoming an important player in the regional energy market and an energy hub for Central and Eastern Europe (CEE). Continue reading Romgaz and GE Partner in a New Power Project
Though not very well known on international markets, Romania is an important wine-producing country with a long tradition that pre-dates the Roman invasion. Continue reading Romanian Wine Is Making a Comeback
Many have dubbed Cluj-Napoca the emerging Silicon Valley of Eastern Europe. Although this is debatable (for many reasons which are not within the scope of this short article), one thing is clear: technology has found a good home in my native city. Continue reading Nurturing a Needed Knowledge and Innovation Culture
The software and IT sector produces three per cent of Romania’s GDP and is expected to exceed €4.1 billion in 2017. It is growing, thanks to the high demand coming from Western countries, and Romania now stands in sixth place in the global index when it comes to the number of certified IT specialists. Continue reading Romanian IT Business Statistics Are Promising
In 2015, Bucureşti-Ilfov, Romania’s capital-city region, had a GDP per capita of €19,300 amounting to 136 per cent of the EU average (GDP per capita PPS, EU28=100). At the same time, Sud-Muntenia, Sud-Vest Oltenia and Nord-Est were three out of 19 EU regions that were still below half of the average 47, 40 and 34 per cent of the EU average respectively, according to Eurostat.
Romania is a strategic economic partner for the German economy. Bilateral economic relations continued to increase, once more, in 2016, as figures, published by the National Institute of Statistics, demonstrated that Germany remains Romania’s number one economic partner. Continue reading Romania Can Foster German Partnership
Time flies and, now, almost three decades after the fall of the Berlin Wall, few people remember that, unlike in the majority of Central and Eastern European countries, in Romania, the road to freedom, democracy and a market economy was more costly. Romania was the only Eastern Bloc country whose people overthrew its Communist regime violently and who executed their long-time leader Nicolae Ceaușescu and his wife, Elena. Continue reading Romania — Decades After Two Milestones
Nobody really noticed it at the time, but everything changed in the year 2000, when Romania was invited to join the European Union. Continue reading Can Romania’s success last longer?
The growing number of ICT specialists, plus the increasing foreign investment in the sector, as well as the number and innovativeness of tech start-ups make Romania’s ICT a upcoming sector, says Augustin Jianu, Romanian Minister of Communications and Information Society. He also spoke to Jerry Cameron about the challenges the industry faces. Continue reading Romania’s Government Plans to Grow the Country’s Already High ICT Reputation
For me, food is not just a basic human need but also a cultural act, and the way it is prepared expresses the identity of the people who eat it. Continue reading What Was First on the Romanian Table?
Romanian wine is a hidden gem, waiting to be discovered by many export markets, says Paul Murden, managing director of Halewood Wines & Spirits Romania. He spoke to Eva Keller about opportunities in the Romanian wine production sector.
Continue reading Romanian Wine: A Growing Opportunity
“Romania is a hidden gem in Europe, a country which is a very good place for investments but which also needs to promote itself in Western Europe and beyond,” Alain Pilloux, vice president, Banking, at the European Bank for Reconstruction and Development (EBRD) said during the EBRD Emerging Europe Outlook on Romania investment forum, held in June in London. He was pointing to the fact that in the first quarter of 2017, the country’s economy grew by 5.6 per cent.
In ten years’ time we’re planning to be managing an industrial space of some 15 million sqm, across Central and Eastern Europe and beyond, says Remon Vos, CEO at CTP. He spoke to Jerry Cameron about the growing demand for warehouse space in CEE and the company’s plans to satisfy that demand. Continue reading Building on CEE’s Established Reputation for Quality and Value
Since 2014, gains in household purchasing power, resulting from a combination of a tighter labour market, strong nominal wage growth alongside deflation or weak inflation, and a highly accommodative fiscal stance resulted in a vigorous consumption-led recovery. Continue reading Romania’s Short-Term Prospects Remain Solid
On a clear night in July 1990, my plane descended toward Otopeni, the main international airport servicing Bucharest, the capital of Romania. I had read up a lot on the country and the city, before visiting my parents there, and working at the British Embassy, for the first time. “The Paris of the Balkans”, a country with a rich culture, “a Latin Island in Slavic sea”, were a just a few of descriptions I found. This Romania of 1990 was just emerging from 50 years of totalitarian dictatorship. Continue reading A Country of Beauty and Warmth That Will Reward Those Who Visit With an Open Mind
It’s a Monday afternoon in a French brasserie in Knightsbridge. I am meeting Princess Marina Sturdza on the last day of her three week visit to London, before she flies back to New York. Continue reading Princess Marina Sturdza: Things Are Bound to Improve for Romania
The European Union is going through some very hard times. The European Commission’s White Paper, which puts forward five scenarios on the Union’s future, is quite eloquent about the tremors that are undercutting its foundations. However, in order to make good policy judgements about the future one has to keep history in mind. The last decade was quite momentous for Romania and it does pay to glance back at it. Continue reading Romania Needs to Follow its EU Membership With Some Sweeping Reforms to Avoid Stagnation
It was on January 1, 2007, some fifty years after the creation of the European Economic Community, in the Treaty of Rome, that Romania officially became a full member of the European Union. The country’s road towards integration has lasted fourteen years after signing the Association Agreement, back in 1993. It has been a long journey, full of hurdles, in parallel with the process of modernising the country and of consolidating the rule of law in our young democracy. Continue reading Romania’s EU Membership Was Slow to Be Appreciated But Now the Tide Is Turning
When I meet a foreigner for the first time, the moment I start a conversation about Romania, it seems as if we are discussing a topic where each of us has a completely different view. This proves that there is a significant gap between how people see Romania and what the actual reality is. That makes me determined to show people that Romania means culture, talent and technology. Continue reading Changing Perspectives and Showing That True Romania is a Vibrant Innovative Country
Poland and Romania are not only the two largest countries in Central Eastern Europe but also tried and tested friends and strategic partners who have always had a friendly and deep relationship. 2019 will be a milestone for our countries, as we will celebrate 100 years of the establishment of our diplomatic relations. Furthermore, we are also allies in NATO and we cooperate deeply in the EU. We share similar views on the most important issues on the European and worldwide agenda, such as the Brexit, the future of the EU, migration and security, and the EU’s cohesion policy, etc. Continue reading Poland and Romania: Almost 100 Years of Friendship That Is Still Growing
Every morning, a gazelle wakes up. It knows it must out run the fastest lion or it will be killed. Every morning, a lion wakes up. It knows it must run faster than the slowest gazelle or it will starve. It doesn’t matter whether you’re the lion or a gazelle, when the sun comes up, you’d better be running. Continue reading Seven Reasons for Optimism in Romania
When I first came to Romania in 1990, the revolution had just finished. Ceausescu was dead and the political classes were forming into parties. That was 27 years ago. Even in 1990, people were on the streets, elated by what had been achieved. The then Government party was the party which eventually morphed into the Social Democratic Party (PSD).
Joining the EU has unlocked robust GDP growth and continues to aggregate positive energy in the Central and Eastern European (CEE) countries. Adhering to the common market has brought a surge in trade, positive institutional changes and improvements in the business environment. However for many countries, it has also led to a migration of the labour force, which could affect long-term economic growth prospects. Continue reading The Competitive Edge in Central and Eastern Europe
In 2016, Romania’s economy achieved a GDP growth of 4.8 per cent, which was the fastest pace since 2007, and the highest mark in the EU. Continue reading Romania’s Economic Outlook Is Bright