The story Hyosung of South Korea plans to invest USD 150 million in a car components production facility in Romania (Romania-Insider.com wrote about it here) is very good news for very obvious economic reasons.
Clearly Romania is an attractive location for companies in Asia and elsewhere wanting to build factories and sell more efficiently to their European markets. The immediate task for government and other interested NGOs is to understand and analyze exactly why Hyosung made its decision in favor of Romania. That information should then be processed into a product and ‘bottled’ for sale to companies around the world, offering the best possible conditions for investing in Romania.
Hyosung’s investment should be the first step in making Romania the first choice for investment into Europe from overseas. The lessons learned from the Hyosung experience should lead to the creation of a Romanian Enterprise Agency, whose job will be to promote the country’s advantages as an investment location and prepare the country to accept and build on that investment.
The Agency can also, if managed properly, be a trusted and dynamic conduit for EU structural funds and we all know how urgently that is needed
Can we all look forward please?
By Ronnie Smith
Ronnie Smith is Scottish and now lives in Romania, working as a professional training business consultant and communication coach. He is also a teacher of political science, a political and social commentator and a writer of fiction.
The views expressed are his own and do not necessarily reflect those of Romania Insider.com