Romania's Agency for Foreign Investments runs projects worth EUR 3.5bn

Producers of car parts invest in Romania following the development of the country's production units by some big players such as Renault and Ford, according to Vasilescu.

The ten companies have the end of 2008 deadline to complete the projects. The agency runs a total of 75 projects.

Ford's investment in Craiova, Southern Romania, should turn into an industrial park of 100 hectares with infrastructure and utilities like the one developed by Nokia close to the Central city of Cluj Napoca, according to Vasilescu.

Number of foreign investments in Romania has been constantly increasing since the beginning of the year, following the country's accession to the European Union. Major players on international markets have been eyeing the Romania, as the economy is seen as a stable one after the Cabinet introduced the 16 percent flat tax.

Source: NewsIn