Telecom CEO: Legislative and fiscal changes in Romania hurdle long-term plans

Romania has changed seven communications ministers in the last three years, and the frequent political, legislative and fiscal changes create difficulties in concentrating on long-term plans, said the departing Vodafone Romania general director and president Ravinder Takkar, reports local News.ro. The comments came as the government recently announced plans to replace the profit tax with a turnover tax. The director also argued that the local telecommunication industry is in need of massive investments. “Instead of focusing on our business we need to adapt to changes. Telecommunications is an industry in need of infrastructure, and this takes time, major investments and consistency,” Takkar said. He also pointed to the need of stability within the local telecom authority ANCOM, just as in the case of the political and legislative areas. Takkar explained that the local telecommunications sector is an extremely competitive one, where changes take place very fast. Vodafone Romania reached a turnover of EUR 778 million and a net profit of EUR 42 million, in 2016. The operator had close to 2,800 employees. Ravinder Takkar is moving to India where he was appointed Chairman of Vodafone Group Services, Regional Business Development, starting July 15, 2017. He is replaced in Romania by Frenchwoman Murielle Lorilloux, CEO of Vodacom in Congo (DRC). editor@romania-insider.com