Foreign Investors Council: Ukraine and Russia – Romania's competition. ARIS: investment projects worth of 8.7 billion euros in standby

Romania’s activity is not what it once was. The country must now compete for foreign investment with Russia and Ukraine, the verdict read, as the executive director of the Foreign Investors Council Doina Ciomag put it on Thursday, at the launch of the World Investors Report 2009.

Romania was lucky to be able to attract foreign investors without making too much effort. The market potential before joining the EU, the perspectives offered by the impressive economic growth after EU accession played their role. But the economic context changed it all.

Romania needs now to make efforts to attract foreign investment. The main factor to influence any decision could be the infrastructure, Ciomag said. „Even the investors already on the local market are starting to feel the infrastructure problem. Ford and Renault will have serious problems in the period to come: they produce and they need to distribute their products”, she added.

As for possible attractive sectors, Ciomag nominated agriculture, energy and constructions. On the other hand, Romania’s Foreign Investment Agency representative Raluca Anghel said that 22 current big investment projects already on the Romanian market receive support. Their woth is estimated to top 1 billion euros and they are expected to create 6,230 work places.

The agency has another 55 foreign investment projects in standby worth of 8.7 billion euros, Anghel added. None of the investors conciliated by the Agency redrew so far, she concluded.