Beautiful, rich and with an enormous potential that is not yet exploited at its maximum capacity – that is what you could say about Romania at a first glance. Romania is currently actively seeking direct investment and has recently taken many proactive steps towards improving and encouraging foreign investment.
A good location
Romania joined the European Union in 2007 and it is also a member of NATO. Its geographical location can be considered strategic for transportation and import/export purposes. It is an easy gateway towards the Middle East and, of course, other European Union markets are also easily accessible.
There are plenty of high quality natural resources including various mineral deposits, petroleum in particular, natural gas, salt, coal, iron ore, copper, zinc, gold and many others. Timber is also plentiful and the agricultural land is highly fertile.
Romania has a talented workforce and the costs for employment are relatively low in comparison to other European countries. English is widely spoken, the population is bilingual or trilingual and there are many high-educated young workers. A number of young and talented entrepreneurs are dedicated to investing their time, passion and resources into the country. With the help of various EU investments, they have chosen to start fresh, sometimes innovative businesses in the county because they believe that investing in Romania is worth it.
Key investment areas
Although Romania is developing and improving as a whole, there are certain sectors that prove to be more lucrative and appealing. Some of these sectors are:
- agriculture and farming;
- information technology;
Romania is a rapidly growing IT market. Progress is constant in the mobile phones and internet sector and the population, both young and old, is receptive to the diversified offer on the market.
Tourism is also an interesting although perhaps more challenging sector. Investors can choose from a variety of picturesque and charming locations to establish different accommodation facilities for local and foreign tourists.
Although there are still some issues that Romania has failed to address up to this point, such as poor infrastructure, corruption and a complicated fiscal process, the country is constantly developing.
Romania’s rural charm and natural beauty make up for its political instability and a wave of new investments in many sectors and the presence of young, enthusiastic entrepreneurs prove that the country has embarked on a strenuous yet definite journey towards improving itself.
If you wish to start a business in Romania and need more information about the Romanian legislation on foreign investments, our Romanian accountants can help you with all of your inquiries.
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