Austrian companies in Romania not impressed by rumors on Austria’s bankruptcy

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Austrian companies in Romania not impressed by rumors on Austria’s bankruptcy

Austria is one of the top investors in Romania, with some $3.8 billion in the past 11 years, and with top players in the most important segments, including banking, insurance, real estate, construction, oil and furniture.

The country’s Embassy in Bucharest announced yesterday that, in spite of the crisis, the local economy allows even for hope of growth. “The situation in Romania is in many ways different from the difficult situation in other countries, allowing for the existence of hope for growth, albeit minor, in 2009. Austrian companies, including banks with mother-companies in Austria, are definitely determined to remain active in Romania and to contribute to local economy development,” an Embassy statement for Business Standard states.

The local Managing Director of Europolis developer, Marian Roman, said that Austrian players are measuring their problems based on the local economy. The General Manager of Wienerberger construction material producer, Daniel Catanas, agrees: “So far, Romania’s economy must overcome the investment deadlock stage. It is expecting to see what steps other players will take and the way the state will intervene to unblock liquidities and relax lending.”