EY attractiveness survey romania

3rd edition | 7 July 2022 | 09:00

When we speak about foreign direct investment, we are determining how open and how attractive an economy is to outside investors. FDI in the last years has fluctuated, something mostly due to global events outside Romania’s control. Even if the last two years have not been some of the most prosperous for the country or the global economy at large, we can see that even in times of adversity new opportunities appear.

Restrictions have thrusted upon authorities and companies in Romania the need for more digital interaction, either in terms of working remotely, moving some business operations online and offering some services over the internet. Digitalization helps the competitive IT sector in Romania to provide even more services and support under the new current business needs and help it grow even further in the long run.

Supply chains have been stretched to the limit and the longer they are in terms of distance, the more prone they are to disruptions and delays. Here a new opportunity has presented itself to Romania, as current weakness in the global supply chain showed the need for closer localization of production capabilities to end-users and destination markets. With its proximity to markets in Western Europe, relative low operating costs and membership in the European Union, Romania has a net advantage in attracting foreign capital in this direction.

With the introduction of support programs from the European Union such as the Recovery and Resilience Facility meant for boosting the economy through investment funds, Romania has adequate financial instruments to catch the attention of global investors and create an even more attractive business climate that will help the economy grow further.

The Romanian Attractiveness Survey now reaches its third edition and offers important findings about how the economy is performing in terms of attracting FDI and how is Romania perceived by the business community. The launch event represents the starting point from where we will share these valuable insights and trough which we will engage in dialogue with business leaders and state officials regarding the results.

 

Agenda - 7 July 2022

  • Moderator: Bogdan Ion, Country Managing Partner Romania & Moldova Chief Operating Officer - Central, Eastern and Southeastern Europe & Central Asia

    • Speaker: Nicolae Ciucă – Prime Minister of Romania

    After one year of COVID-19, the Romanian economy has grown rapidly in 2021. The forecast for Romania’s economy in 2022 seems to be on the recovery road, putting Romania in a position of being one of the few EU nations likely to return to the pre-pandemic situation. The National Recovery and Resilience Plan (NRPP) will play a major role in boosting the Romanian economy after the COVID-19 period. 

    The results of EY Romania Attractiveness Survey will offer relevant insights on our country’s performance in terms of FDI, as well as future perspectives from investors in terms of improving our country’s attractiveness.

  • Moderator: Alex Milcev - EY Romania and Moldova Tax & Law Services Leader

    Speakers:

    • Florin Spătaru - Minister of Economy (TBC)
    • Clara Volintiru – Director, Professor The Bucharest University of Economic Studies

    With the shock produced by the pandemic period, Romania saw itself in front of a new crisis emerging in the Eastern Europe. However, in this situation of volatility, there is a paradox – many companies may relocate their businesses from Ukraine to Romania. Allegedly, companies must have a solid agenda and reliable business reason to relocate their activities in Romania and in this context, very important are the global business services, with emphasize on R&D and Automotive.

    However, independent of relocation activity, Romania should focus in the close future on the following three sectors: agri-business, transportation and logistics.

  • Moderator: Aurelia Costache - EY EMEIA Intelligent Automation Leader

    Speakers:

    • Alexandru Mihailciuc - Global Gead of Pre-Sales UiPath Robotic Process Automation
    • Dragoș Preda – General Director Radiocom
    • Bogdan Putinică – Country General Manager Microsoft Romania

    The pandemic period forced companies across all industries to reshape their operational models and to distribute more resources to innovation. The process of digitalization eased the lives of citizens and highlighted opportunities for the public and private sectors. The evolution of technology embodied a dual valence, facilitating the economic growth and improving society life.

    Romania is already known as a major actor within the IT&C sector and this aspect could play an important role to become a fully digitalized country. A highly connected, intelligent and innovative Romania has the chance to attract large investors and possibly become a regional FDI center in Eastern Europe. It could represent a world-wide innovation hub, a center for exchanging knowledge in the field of technology and innovation.

  • Moderator: Mihai Drăghici, Director, Business Consulting

    Speakers:

    • Dan Dragoș Drăgan – Secretary of State for the Ministry of Energy (TBC)
    • Ondrej Safar – Country Manager CEZ Group 
    • Valeriu Binig – Director of the Department for Regulations and Antitrust at ENEL Romania

    The beginning of 2022 tossed Europe’s energy security in front of a crisis due to the conflict started in Ukraine. Energy prices are constantly rising, forcing Europe to seek short-term solutions to ameliorate the situation. At the European scale, the biggest opportunity is the acceleration of the transition to clean energy.

    However, the states from South-East Europe have a major advantage given by the Black Sea.

    In this context, Romania finds itself in a unique position. Its opening to the Black Sea can speed up the up the switching process to renewable energy. Nevertheless, Romania’s future strategy should be based mainly on reducing consumption and less on diversifying gas production and import sources. The panel discussions aim to uphold both the private and the public sector with underlining feasible solutions and tools necessary to achieve a green and independent economy.

  • Moderator: Sofia Stoican, Associate Partner, Business Consulting

    Speakers:

    • Marcel Boloș – Minister of Investments and European Projects (TBC)

    After more than three decades since Romania returned to a free and open market economy, we now plan for the future and revamp the segments of certain industries lost during the years of transition.

    As world events stand, Romania could reach its true potential as an agricultural exporter. Moreover, the current strategy must ensure that investors will have the proper infrastructure wherever they will choose to invest in Romania. The government is set to establish procedures that will decentralize the decision-making regarding investments as to promote an easier access on the Romanian market.

    Public authorities look also to strengthening the business environment with substantial support and possible investment grants and we will discuss what long term effects that will have the economy.

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