Romania’s government rolls out online platform to attract foreign investors

The government has launched a new website that includes key information about the business environment in Romania, in a move designed to attract and facilitate foreign direct investments in Romania.

“InvestRomania is the foreign investor’s problem-solving hub and the website is a tool aimed at answering the first questions regarding topics such as Romania’s macroeconomic outlook, taxes, labor force, government support and lifestyle,” said the organization on its Facebook page.

The portal mentions the fiscal incentives for companies, but also the labor conditions. The hourly labor costs in Romania are around EUR 5/hour, representing one fifth of the EU average in 2015, where hourly labor costs is EUR 25 per hour.

The website is managed by InvestRomania, the government institution tasked with attracting investments in the country. The organization coordinates, monitors and enforces the government’s policy at a national level for the promotion, marketing, attraction and implementation of foreign investments.

The head of the organization is state secretary Manuel Costescu.

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“Initially, we were planning to build a website that had an easy approach, which would be published in English so as to ease the work of foreign investors that would be interested about the taxation, the tax facilities, the shills of Romanians and the living conditions in Romania,” said Costescu, who added that the development of the platform will continue in the next period.

Ovidiu Posirca