EU-Romania Business Society Calls for Greater Dialogue, Conciliation and Engagement Between Government and Business

October 2016

BRUSSELS, October 7, 2016 /PRNewswire/ —

We at the EU-Romania Business Society are focused on working with our members to generate greater national income and economic growth.

Our organisation’s mission is to improve investment opportunities between EU countries, Romania and the Danube Region. Our aim is to work closely with government and business leaders to help advance the best conditions for doing business and encourage public private partnerships built on shared advantage. We believe that open markets and free flows of capital are the cornerstones of development and progress. Especially in the aftermath of Brexit, and the many resulting economic and social uncertainties not only in the UK but across Europe, we are paying very close attention to events that affect all our members.

In October we are seeing three trends inside Romania that we believe should be watched closely:

First, a report from UniCredit Bank in Romania forecasting a steep downturn in economic growth.

Second, a slowing of foreign investment after many years of strong spending partnerships between national and international groups bringing great benefit to communities

Third, what appears to be a growing tendency from Government authorities to disrupt and even interfere in the activities of foreign investors. Here in particular we are watching carefully legal cases involving Enel, E.ON and CEZ, all of which have gone to arbitration resulting in costly defeats for the Government, and also what we see as a growing international dispute created by the Government over seized energy assets with the KMGI controlled Rompetrol group, which also appears headed towards international mediation later this year.

In line with our objectives to work in partnership to help protect and promote the national interest of Romania, we will continue to monitor and give our views on these emerging patterns that could risk creating new damage to what has been until recently a more secure business climate. In all cases we call for dialogue, conciliation and engagement between government and business. Romania has tremendous advantages in terms of resources, its educated workforce and strategic location and we want to support the country to continue on a path of successful economic development.

SOURCE EU-Romania Business Society