Alexandru Mitroi, InvestRomania: “Asian companies are looking at the possibility of relocating some production to Romania”
“This year we see continued positive trends related to investment and promotion. Last year, Romania attracted around 11 billion euro in foreign direct investment. For the first quarter of 2023, the National Bank of Romania indicated a volume of 2.6 billion euro in FDIs. The positive trend is expected to continue. Investors are looking for stability in general and this means, political, economic and monetary stability. This is an important factor for companies in making the decision of investment,” Alexandru Mitroi, Senior Advisor, InvestRomania said during Automotive R&D Power Breakfast organized by Automotive Today and The Diplomat-Bucharest.
“Last month, we had some visits from Ukrainian companies seeking to relocate their businesses in Romania. Also, since last year, we have seen more and more companies from South-East Asia looking at the possibility of relocating some production to Romania due to the conflict in Taiwan.
The most successful measure addressed in the automotive industry in the past 10 year was the CAPEX measure with the Ministry of Finance. The total value of projects – from 2014 when this measure started and until 2022, including last year where it was the highest value of the budget, close to 450 million Euro – that were submitted by manufacturing companies in different industries reached the value of close to 5 billion Euro. The total state aid contracted for the same period reached the value of 1.8 billion Euro and one third of this amount went to the automotive industry.”