Why invest in Romania? Govt. launches first website dedicated to foreign investors

More than 26 years after the fall of communism, the Romanian Government finally has a website in English with useful information for foreign investors who want to invest in the country.

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InvestRomania, Romania’s foreign investment promotion agency, officially launched its website during the Government meeting on Wednesday, May 18.

“InvestRomania is the foreign investor's problem-solving hub and the website is a tool aimed at answering the first questions regarding topics such as Romania's macroeconomic outlook, taxes, labor force, Government support and lifestyle,” according to the agency’s representatives.

The website is in English and includes useful information about Romania’s economy, taxation, workforce, infrastructure and living costs. It also presents the six economic sectors considered strategic for the country’s economy: IT&C, automotive, aerospace, agriculture, bio-industry, and creative industry.

The InvestRomania website is the first coherent initiative of a state agency to promote the local investment environment to potential foreign investors. The agency, which is part of the Economy Ministry, is run by state secretary Manuel Costescu, a 40-year old financier, who worked as a corporate banker at JP Morgan’s London office. Costescu graduated from the Brandeis University in Boston, US, and has an MBA from MIT’s Sloan School of Management. He also worked at the international business consultancy firm McKinsey.

Prime Minister Dacian Ciolos named Costescu to run this department in February this year.

Foreign direct investment up by a quarter in Romania in 2015