Cisco: More business opportunities in Romania than Western Europe

Romania surpasses Germany and other Western countries from a business perspective, said Bernd Heinrichs, managing director Internet of Everything within Cisco group. Romania has changed a lot in the last years, especially in the IT sector, and offers companies the possibility to develop easier than in other countries, said Heinrichs, cited by local Wall-street.ro. One doesn’t need as much money as in a Western country to run a business here. Young local entrepreneurs are eager to start promising start-ups, said Heinrichs. Romania has become an important hub for big IT companies, due to the Government’s initiative to exempt IT employees from paying income taxes. Some 11 IT companies, among which Vodafone, eMag, and Teamnet received state aid worth EUR 67.27 million for projects which will bring 3,000 jobs in the next three years. editor@romania-insider.com