SE Countries in EU
12.01.2007 Bulgaria | Business | SE Countries in EU
No longer cross-border charges on the Danube Bridge; the Romanians discover lower prices in Bulgaria
10.01.2007 Business | Most popular | SE Countries in EU | Slovenia
Trade unions, employers and the government on Tuesday reached agreement on amendments to health insurance legislation, completing more than a year-long negotiations in which opinions clashed mainly on severed conditions for sickness benefits and the composition of the assembly of the Health Insurance Institute.
10.01.2007 Business | Reports and Analyses | Romania | SE Countries in EU
2006 reached a new record of foreign investments in Romania. The value of foreign investments as share in the registered capital of the companies from our country exceeded the EUR 2 bn threshold, according to “Saptamana Financiara.” In November last year, the number of new companies with foreign participation increased to 1 388, compared to 1 096 in the same month of year 2005, and the subscribed capital reached EUR 20.87 mln. The largest part of the capital was concentrated in Bucharest – EUR 10.74 mln, over 65 per cent of the total, followed by Timis County. The German operator of the Kaufland chain of supermarkets had the biggest capital contribution in November, with over EUR 116 mln, being followed by Doosan IMGB – EUR 63.58 mln and Romstal Imex, a company of Italian investors, with EUR 25 mln. The registered capital in November was also fuelled by Valdeyuca Invest Bucuresti, a company belonging to Spanish investors, with over EUR 10 mln, Sews Romania and Sanitaryware Manufacturing Bucuresti. BNR shows that foreign direct investments reached approx EUR 8 bn in the first ten months of last year. The privatisation of BCR had an important role in reaching this figure, because the purchase of 36.8 per cent of BCR shares meant an investment of EUR 2.2 bn. BNR centralised data for 2005 showed a level of investments of EUR 5.23 bn. On the other hand, the foreign investments in our country are expected to grow in 2007, especially that Romania is now a EU state. Significant sums of money might be invested in infrastructure, thinks Markus Piuk, coordinator attorney with law firm Schoenherr si Asociatii, quoted by “Capital.” Another likely investment might come from the Germans with Daimler-Chrysler, which will open a network of auto representations, in partnership with Tiriac Auto, according to “Capital.” ARIS officials expect an important increase of Greenfield investments and those resulted from acquisitions. Renault too will build in Romania two new objectives, namely a gear box plant and a development-research centre, worth over EUR 500 mln. There are expected on the market from Romania retail players of a higher level too, in fields such as furniture and electronics.