A rise in foreign investments was registered in each of the five months of 2008. In January, the annual increase was 75 percent (€0.69 billion), in February, 40 percent (€1.2 bln), the March year-on-year increase was 27 percent (€1.7 bln), while the growth for April and May was double (at €3.2 bln and €4.1 bln, respectively).
According a recent estimate by ’s largest lender, Banca Comerciala Romana (BCR), owned by Austrian Erste Bank, foreign investments could amount to €7.8 bln by the end of the year, 10 percent higher than in 2007.
Finance Minister Varujan Vosganian said on Friday that FDI could reach as much as €10 billion. “In the first five months of the year, we had €4.2 bln in foreign direct investments, with only a single notable privatization, that of [electricity provider] Electrica Muntenia Sud. If things continue this way, we could exceed the psychological threshold of €10 billion in foreign investments this year,” added Vosganian.
The forecast is confirmed by analysts. “Although we are dealing with a worsening business environment, we must not forget that investments such as those by Nokia or Ford are long-term. It is likely that other big names will come to , as we still have competitive advantages. We must keep the macroeconomic situation under control,” Professor of Economics and former Minister of Finance Daniel Daianu told Business Standard.
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