Foreign investments register an upward trend, despite the crisis

In the midst of a full financial crisis, investors injected increasing amounts into Romania’s economy, and October ranks second this year in terms of value of investments, with €963 million, after April, which registered FDIs worth some €1.54 bln.

FDIs increased by an annual 37.4 percent in the January-October 2008 period, from €5.936 bln. Also, in this year’s first ten months, FDIs covered 56.5 percent of the current account deficit, compared to 44.5 percent in January-October 2007.

“The rise in investments in October is due to the support of western companies by their mother-entities, which continue to see Romania as attractive. Considering that Western Europe is facing a slowdown and even a drop in economic activities, our country remains attractive,” Lucian Anghel, Chief Economist of Banca Comerciala Romana (BCR), told Business Standard.