Foreign investors propose 80-measure plan to restart Romania

Romania needs to regain the trust of foreign investors and avoid a third year of economic crisis in the country, said Mariana Gheorghe (in picture), Petrom CEO and head of the Foreign Investors Council (FIC) in Romania. The council has launched a 80-measure plan to send Romania back on the economic revival path. The council estimates such measures could allow the country grow its Gross Domestic Product (GDP) by 11.6 percent, should these measures be applied by 2015. The plan includes the local and international listing of the Proprietatea Fund, a joint application with Hungary and Bulgaria for hosting the European Soccer Cup in 2020, the improvement in absorption of European funds through externalization and a change in the bonus system for state employees, the implementation of the online e-Governing solution, a more flexible labor legislation and the creation of a Council for Economic Development, among others. The plan presented by FIC should lead to the creation of 250,000 new jobs and to an 8.5 percent increase in the budget revenues, foreign investors estimate. The Foreign Investors Council in Romania includes member companies which together posted EUR 36 billion in turnover in 2009, which covered 30 percent of Romania's GDP. Romania-insider.com