GE executive says Romania must clarify its legislation

Romania must work on improving its legislation, as investors need long-term perspectives, said John Rice, vice-president of American group General Electric, one of the world’s largest corporations. “The legislation must become clearer. We would encourage the Government to work on that. The workforce quality and education are also essential,” Rice said in a press conference in Bucharest. He came to Bucharest to meet Government officials and some of GE’s clients and business partners in Romania, according to Mediafax. GE owns two factories in Romania. One is an oil equipment facility in Ploiesti, which GE bought in 2013 from Lufkin. The other one is in Bucharest and produces components for airplane engines. The two factories export some EUR 70 million worth of equipment each year. editor@romania-insider.com