German, Swiss and Austrian investors are affected by Romanian partnersaa‚¬a„¢ bankruptcy, says LeinerLeitner

Newsroom 14/09/2010 | 10:48

One of the main problems that German, Swiss and Austrian investors to Romania are facing is the bankruptcy of many of their local Romanian partners together with the rigidity of local fiscal authorities in collecting taxes, says Rene Schob, partner with audit and consultancy firm LeitnerLeitner.

He added that two of the company’s clients have chosen to close their business in Romania so far, but it is their intention to return once local markets recover. Agriculture and related FMCG industries have a high potential in attracting foreign investments in the future.

“LeitnerLeitner still believes in Romania’s high potential in attracting foreign investments and increasing the market, but this potential may be achieved only if the authorities solve the country’s political and macro-economic problems,” according to a LeitnerLeitner survey.

Attracting more European funds is also crucial for Romania in the current economic context, said Cristoph Leitl, president of the Austrian Federal Chamber of Commerce this Monday. During the press meeting organized by LeitnerLeitner together with the Commercial Department of the Austrian Embassy to Bucharest, he criticized the Romanian authorities’ lack of professionalism in attracting more European funds. “If you are offered European money, take it!”, he concluded.

Austria is the main foreign investor to Romania with about EUR 500 million invested last year, according to Leitl.

 Simona Bazavan

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