US: Romania still faces corruption, bureaucracy, lack of transparency

The high degree of corruption, the delayed reforms in public companies, bureaucracy and lack of transparency in decisions with economic impact, as well as problems with employment should be considered by prospective investors in Romania, reads the Report on the Investment Climate of the United States’ Department of State. Romania has initiated steps to increase the role of public consultation and impact assessments of proposed regulations, but the Government continues to use emergency ordinances to adopt laws, due to the difficulty of adopting in time by the Parliament, according to the report. Moreover, the Parliament fails to consult and disregards impact studies when adopting laws in the economic field. It arbitrarily adopts tax measures that can be daunting for American and multinational investors. Romania needs to increase its transparency, stability and predictability in decisions impacting the economy to attract investors. It also needs to take measures to reduce bureaucracy, according to the report. editor@romania-insider.com