US companies give up investing in Romania because of corruption (Ambassador Gitenstein)

There are US companies that have thought of investing in Romania, but chose another market, being concerned with the quality of the business environment here and corruption, US Ambassador in Bucharest Mark Gitenstein said.

'I know companies that have thought of coming to Romania, but are concerned with the quality of the business environment here, I refer to corruption, to the government transparency, of several governments, not only of the current government, I refer to the business conduct manner. I had many US companies frustrated with the unpredictability of the decision-making process, in particular, with the decisions related with the VAT recouping, with the state aid.

Several companies were dissatisfied with the tenders, they felt that the process was either unfair, either unpredictable. I know companies operating here; I will not give names, whose administration boards were discussing whether to invest here or in Turkey or Slovenia or in other countries. And, in the end, they decided not to invest here any longer. On the other hand, since the crisis conclusion and the stabilization of your currency, due to the fact that you finally observed the legal provisions, a few major companies made significant investments. Ford has made a one billion-dollar investment since,' Gitenstein said. The Ambassador said that he stayed optimistic about Romania, in spite of the events that took place this summer on the political stage of our country.