Romania sees historic increase in foreign direct investments from the UK
The volume of British investments in Romania increased by 44% in the first seven months of 2022, reaching the historical maximum of EUR 5.5 bln.
As a result, the value of imports from Romania to Great Britain registered a significant increase of 27% in the first 8 months of 2022, while exports to Romania registered an increase of almost 9%.
“The value of foreign direct investments (FDI) has been strongly affected by the disruptive events of the last 3 years, regardless of whether we are talking about Brexit, the COVID-19 pandemic, or the war in Ukraine. Romania has retained a surprisingly robust level of foreign direct investment, with a record level of investment reported this year. It is even more surprising considering the geopolitical context we are going through,” said Bogdan Mihăilescu, the representative of the Romanian Embassy in the United Kingdom during the "New Horizons for UK - Romania Trade and Investment" conference held on November 17 in London.
Almost 5,000 companies with foreign capital have been established in Romania since the beginning of the year, nearly a third more than in the same period in 2021. Total FDI has been estimated at EUR 9 bln, the largest amount since 2008, according to Mihai Precup, secretary of state at the Ministry of Finance.
The geopolitical situation also transformed Romania into a strategic regional actor due to its agricultural production capacity. The country is the 4th or 5th top agricultural producer on the continent, and its proximity to Ukraine and the Black Sea was critical when it came to receiving grain shipments.
Romania's energy dependence is also significantly lower than in the rest of the member states of the European Union. The country depends on energy imports for only 28% of its consumption, compared to a European average of 57%. Romania, therefore, is the second most energy-independent country in Europe.
The British Romanian Chamber of Commerce (BRCC) is the main organization promoting bilateral trade and investment between the United Kingdom and Romania. BRCC's mission is to facilitate and increase business opportunities between the two countries through dialogue and the exchange of best practices.
Established in 1998, BRCC has offices in London, Bucharest, Cluj-Napoca, and Timisoara.