Shedding preconceptions brings mutual benefits

Newsroom 08/11/2010 | 10:36

Putting aside preconceptions and unimpressive statistical data, there is plenty of room for an increase in Russian FDI to Romania, argued company representatives present at the first Russian Business Forum organized by Business Review last week. The reverse is also true, as Romanian companies should try to benefit more from the business opportunities offered by Russian markets.

Simona Bazavan

Culturally speaking, everything is in place for good business and commercial bilateral relations between Russia and Romania, businesspeople present at the event said. Nevertheless this has failed to happen so far, in spite of what many company representatives consider to be the huge economic potential for both sides. The Romanian authorities’ reluctance to promote Russia as a potential source and as a destination of FDI has also hampered progress so far.

Traditionally, Russian investments to Romania have mainly targeted local heavy industry and the energy sector, but there is still room for growth. Green may be the latest trend when it comes to energy but until grander plans become feasible, conventional energy sources remain crucial. Romania could benefit from Russian expertise and FDI in this sector, suggested many company representatives. One of the most important local assets for Russian investors remains the country’s strategic position in the region and the fact that it offers easy access to European markets for these companies.

The latest Russian newcomers on the Romanian market also proved that there is interest in new industries such as IT, tourism and agriculture.

The event, which gathered around 70 company representatives, was organized in partnership with PricewaterhouseCoopers, Softline, RBS Royal Bank of Scotland, PeliFilip and with the support of Ramada Plaza Bucharest and casadetraduceri. For more information about future BR events, please visit www.business-review.ro/events/.