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Foreign investments in Romania 09/03/2011
(2011-03-09)
Last updated: 2011-03-10 19:27 EET
Agriculture, energy, infrastructure and tourism are the main Romanian industries expecting investments from members of the Gulf Cooperation Council, a trade bloc involving six oil-rich Arab states of the Persian Gulf. At the opening of an economic forum in Bucharest, president Traian Basescu told the visiting Arab businessmen that investments in any field in Romania can prove profitable, given the development gap between the East European nation and other EU states.



Basescu belives that Romania could contribute to mitigating the effects of the food crisis threatening the planet. With a population of only 22 million, the country‘s agricultural potential could satisfy the needs of four times as many consumers. Basescu also talked about Romania’s ability to produce healthy foods, as it is the second EU country, after France, in terms of land areas used for organic farming. He added that one of Romania’s top goals is energy independence. The country produces some 80 percent of the oil and natural gas it uses, but complies with European energy policies, which require diversified sources.


Traian Basescu said: “We are a country that often produces and exports energy surpluses, and we also aim to become a major energy market for southeastern Europe. This is why, investments in this field are a priority for the Romanian Government.”



In turn, Romanian Transportation Minister Anca Boagiu presented the master plan of a motorway network that could welcome profitable investments. She said that QUOTE “basically, to build the 869-kilometer pan-European corridors, we need 13.5 billion euros”. Boagiu admitted that Romania’s outdated and insufficient road and rail networks are a magnet for foreign capital.


Tourism Minister Elena Udrea also said she expects countries in the Gulf to invest in the development of Romania’s seaside, mountain and spa resorts. International analysts, quoted by the press in Bucharest, believe that by 2020, Gulf countries could invest a total of some 5,000 billion euros in foreign markets. Local authorities and companies need to make sure that some of this money is pumped into the Romanian economy. At this moment, trade between Romania and Gulf Council members only amounts to little over 500 million euros.
 
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