French investors committed to doing business comme il faut

One of the many changes brought about by the economic crisis is to mentality. Easy money has become a thing of the past, said company officials present at the second edition of the French Business Forum organized by Business Review.

Simona Bazavan

The economic crisis was a wake-up call for many local companies and a harsh one too as the market collapse came hard on the heels of the unprecedented economic growth registered in previous years. One didn’t even need to be an efficient manager to post profit back then, some of the company representatives present at the event agreed.

Coming back to 2009 and 2010, efficiency and cost control have become the name of the game. Companies who have managed to pass the test and return to growth say they have done so by adjusting to the new market conditions through rationalizing costs and getting closer to their clients.

All is not bleak – there is still potential for business in Romania and some of the authorities’ latest measures are expected to encourage the business environment. Topics discussed by company representatives included the new Labor Code, which businesspeople have long been saying should generate more flexibility on the local labor market and stimulate employment. The new public procurement law should also bring a boost to joint ventures between the authorities and private companies with a positive effect on the development of local infrastructure.

So far, French investments in Romania are estimated to have reached approximately EUR 7 billion. Almost EUR 600 million was spent last year alone, making France the fifth largest investor in the country.

The event, which attracted about 70 company officials, was organized in partnership with Schneider Electric, Salans and Marsh. For more information about future BR events, please visit www.business-review.ro/events/.