Romania needs to turn from a cheap labor economy into a competitive economy if it wants to grow and attract new investments, said Eric Faidy, president of the French Chamber of Commerce in Romania.

In a competitive economy, companies will develop projects in the long term, will create jobs and will increase salaries.

Faidy identified eight priority areas which require concrete measures. These include training, innovation, employment, infrastructure, energy, agriculture, financial markets and tourism.

The French Chamber of Commerce in Romania launched on May 7 the White Paper on Competitiveness, which contains 52 proposals for the eight priority areas.

editor@romania-insider.com