Oil and gas “Romania’s attractions for investors”

At the beginning of the year, a Romanian-American business council was formed in Washington DC on the occasion of the NATO summit held in Chicago last month.

The council is a non-profit organization founded in order to help the American business companies that are running their businesses in Romania to speak with one voice to the authorities in Bucharest.

This is the opinion of the president of the organization, Eric Stewart, who gave an interview to our correspondent to Washington, Andi Sandu.

He also said that red tape and the poor development of the infrastructure are the main problems that the American investors have in Romania, and stated that, on the bright side, our country has gas and oil resources.

One of the first orders of business in the agenda of the recently formed council is a business trip to Bucharest, during which the leaders of several American companies will be able to talk directly to the Romanian authorities.

” We will bring between 8 and 12 American directors so that they may meet with the members of the Romanian Government and business people. We will talk about several opportunities and transactions between companies. In general terms, we will try to find out how we can improve bilateral relations ”, Eric Stewart says.

He mentioned that it was possible that there would be some companies that were already active in Romania or intent on running businesses there.

” This business trip will take place this autumn at the earliest. We hope to attract other companies until then. What I know about many American companies is that, due to the fact that they gained profit in Romania, they want to reinvest, and this is the best proof that a country is successful in attracting companies. It’s like selling candy to someone, and if he comes back and asks for more it’s an indication that he likes it. As the president of the council, the impression I have is that businesses are doing well in Romania ” Eric Stewart said.

Most of the companies that intend to expand their investments are active in the process industry.

They have been very successful in Romania for several years and reached maximum efficiency, so now they see Romania as a center of interest and are looking for opportunities to extend their operations there.

” A good tendency that has quickly come to my attention is the possibility that Romania will become a gateway to other regions and countries. I saw that many companies see Romania as a potential place where they can relocate their European headquarters ” Eric Stewart said.
Romania must tell her story on her own.

” By that I mean that there have to be success stories told. We have to notice that the American companies have had good results. This will automatically attract other American companies. When I met President Basescu, I promised that I would make the time to travel all over the United States to promote Romania, but I stressed that I’m not a cheer leader for Romania. I am here to point out the facts, to promote Romania and its opportunities, but I will point out the good as well as the bad.

” Stability is the key, an essential factor. A rise of the PIB and the creation of new opportunities for the private sector are elements that attract companies. I think it’s very clear that the labor force is very well prepared, so that’s not a problem. Taxes are low, more convenient than in the US. This is another good thing.

” There are many opportunities in the energy and financial services sector, and in those of ensurances and other areas, but companies want to the market to be stable. There will be many experts analizing the austerity measures and the financial system in Romania will hopefully stabilize. If this happens, I think it will be a great chance to promote businesses there ” Eric Stewart added.

Translated by
Vlad Nichita
MTTLC, Bucharest University