Romania “not on the world’s technology map”

Greek ICME ECAB covers 40 percent of Romania’s cable production.
According to Muthi, the only companies considering significant investments in Romania to make highly technologically complex products are car makers Renault and Ford.

“For a country to have major income, it must encourage investments by companies making products with high added value,” Muthi said.

He added that a €60 million investment made in Romania by Nokia, the world’s largest mobile phone producer, is not a large one given that it is producing low technologically complex phones.

Renault is to open a design center in Bucharest and is to invest €456 mln in the construction of the Renault Technologie Roumanie engineering center. The French producer recently launched a car parts factory, following a €146 mln investment. U.S. Ford producer, which last year acquired local Automobile Craiova car maker, announced investments worth €675 mln to produce a new car model in Romania as of 2009.