Romania, my old friend

Life in Romania has changed for the better in so many ways, but as always the never-ending political chaos cripples economic progress. With the region deep in recession and a tepid 1.1 percent GDP growth rate forecast in 2013 for this country, it’s hard to find any comfort in these grim short-term statistics. The local political in-fighting of 2012-13 has only confirmed the West’s impression of Romania as an unstable, unruly country that has once again failed to live up to its potential. This is hardly the message we need to be sending to the international investment community. But let’s get real: Romania’s been failing to live up to its potential for the past 20 years and we’re all still here! Romania somehow muddles through in spite of itself.
I’ve been saying basically the same thing since 1998: stop the political patronage and improve the climate for small business. A small handful of legitimate, clean businesses and individuals have been wildly successful, while the rest of us have been moderately successful or simply made the best of the conditions we face. Could more of us have enjoyed greater success if the political class had been more professional, less corrupt and the tax structure more business-friendly? Obviously, a lot of the suffering of the past five years could have been avoided.
But, let’s take the long view. In the last generation Romania played a weak hand well and is now an EU member with full-scale freedom of movement to all member states coming. It shrugged off Russian hegemony in the region and became a staunch NATO member and US ally. The only thing holding us back is weak governance and rule of law that welcomes only the most intrepid investors.
Since I started working in Romania in 1995 – first with the USAID government agency and then as a full-time publisher beginning in 1998 – I’ve seen a lot of ups and downs. I consider the fact that Business Review’s journalistic standards and our events have become such an important part of the Romanian business fabric as our greatest legacy. We started Business Review with blind optimism when Bucharest streets were dark, but the people full of life. By pioneering the development of a free media – and being the first publication to separate editorial from advertising – we contributed to turning on some lights and making Romania a viable place to build a business, and a life.

Personally, it never dawned on me that Romania would become such an important chapter in my life. For that opportunity, for the wonderful family and friends I’ve made here, I am truly grateful. It’s a great feeling.

Join us in celebrating our 15 years of existence and the let’s make a toast to the next 15 years – the best is yet to come!