EY: 27% fewer FDI projects in Romania last year, but robust recovery this year

Romania is the 18th FDI destination in Europe, according to a survey carried by Ernst & Young consultancy firm, quoted by Ziarul Financiar.

The consultancy firm ranked the 51 European countries surveyed by the number of FDI projects - thus the size of the investment project was not considered.

With 57 FDI projects in 2020 compared to 78 in 2019, Romania marked a 27% annual contraction, deeper than the 16% average contraction in Europe.

The steepest decrease in the number of projects was recorded last year by Hungary (-54%), while the countries with the highest advance were Switzerland (25%), Finland (23%), and Sweden (19%).

France, the United Kingdom, and Germany were the main FDI destinations in Europe, after attracting 985, 975, and 930 FDI projects last year, respectively.

In 2021, the key elements for attracting foreign investors are "the digital transformation, sustainability, and the government support," said Bogdan Ion, country managing partner, EY Romania, and Moldova and chief operating officer for EY Central and South-Eastern Europe and Central Asia Region.

He argued that Europe was preparing for a new stage of economic recovery and stressed the role of the Recovery and Resilience Plan, which focuses on the digital transition and climate reform.

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