Romanian-owned companies account for a majority of the country’s largest businesses, but their presence varies sharply by region, according to a PwC Romania analysis on the structure of local entrepreneurship. The study shows that companies with Romanian capital make up 53% of the top 5,000 largest firms nationwide.

The dominance of Romanian-owned companies is most pronounced in the regions of Moldova, Dobrogea, and Oltenia, where they represent more than three-quarters of the largest businesses. Meanwhile, foreign-owned companies prevail in the Bucharest–Ilfov region, while Transylvania shows a more balanced split between domestic and foreign capital.

At the development-region level, North-East Romania stands out, with Romanian-owned companies accounting for 80% of the firms from the region included in the top 5,000. The South-East and South-West regions follow, both with a 77% share of local capital. 

Ionuț Simion, Partner PwC Romania, noted that the lower presence of foreign investors in these areas is often linked to weaker infrastructure and lower GDP per capita, but has also created space for strong local entrepreneurial companies to emerge.

Moldova, in particular, combines a high share of Romanian-owned companies with significant scale. Four of the ten largest Romanian entrepreneurial companies by 2024 turnover are headquartered in the region: DIY retailer Dedeman and three companies from the UMB Group – SA&PE Construct, UMB Spedition and Tehnostrade – all based in Bacău County and leaders in the construction sector. Another top-ten player, Altex, originated in Piatra Neamț but is now headquartered in Bucharest.

The North-East development region is represented in the top 5,000 by 318 companies, with combined revenues of RON 75.9 billion and around 69,400 employees, with Iași and Bacău acting as the main hubs. 

Bucharest–Ilfov remains the largest concentration of Romanian entrepreneurial firms in absolute terms, with 847 companies generating RON 171.6 billion in turnover and employing nearly 170,000 people. However, they are outnumbered by foreign-owned firms in the capital area.

Meanwhile, the North-West, including Cluj County, hosts 327 Romanian-owned companies in the top 5,000, while the western region centred on Timiș has just 164 such firms, where foreign capital dominates both in number and scale.

By sector, the North-East ranks second nationally for Romanian-owned companies in trade and manufacturing and leads in construction, with infrastructure firms accounting for much of the region’s RON 21.4 billion in construction turnover. 

PwC said in its analysis that it expects the completion of major motorway projects, including the A7 and A8, to attract more foreign investment to the region of Moldova, opening new growth opportunities for already well-established local businesses.

irina.marica@romania-insider.com

(Photo source: Natanael Alfredo/Dreamstime.com)