A gateway of business
from the east
to the west
Romania bundles together some of the most promising business opportunities the CEE can offer, as one of the most competitive and dynamic economies in the European Union. With a rich history in business and trade, Romania has evolved through technology, making today the best time ever for an investment into Romania’s future.
Why Romania?
Competitive Advantages
In the highly dynamic and interdependent world of global business with paradigms of economic power being drawn and redrawn relentlessly, Romania has succeeded in maintaining its position as a significant foreign direct investment recipient in the region.
As part of the European Union, Romania stands for an incredible market opportunity in terms of size (the 8th in EU27) and population (the 6th in EU27), as the second largest country in Central and Eastern Europe and the largest in SEE. Following the country’s EU accession in 2007, investors here find themselves within a single market of almost 500 million consumers, as one of the largest in the world, providing unique advantages for companies seeking new markets for development and growth. Besides its belonging to the great European family, Romania enjoys yet another significant international affiliation – NATO membership – standing as a pillar of strength in maintaining stability and security in the region.
Over the years, Romania has been able to cash-in on its geo-strategic location, as positioned at the crossroads of three great markets: the European Union, the CIS states and the Middle East, being crossed by three important pan-European transport corridors: no. 4 linking Europe from West to East, no. 9 from North to South and no. 7 facilitating inland water transportation on the Danube. Furthermore, while remaining a strategic partner for the U.S., as the Eastern frontier of the Euro-Atlantic structure and a major geopolitical actor on the Black Sea.
Romania owns 1/3 of the Danube River and it stands also as the most significant gateway to the Black Sea through Constanta Port, the largest and deepest port at the Black Sea (with a 6 days reduction in maritime travel time, providing a competitive advantage against the biggest European port, Rotterdam, with regard to the Asian goods transport by sea).
The country is rich in natural resources, some of its most important ones being the agricultural land and significant mineral deposits (e.g.: petroleum, natural gas, salt, coal, gold etc.). Soils in most parts of the country are fertile. Chernozem or black earth, highly suited to cereal culture, predominates in the South and Eastern part of the country.
Projecting itself more effectively on the world investment map throughout cost-competitive business climate and maintaining its position as one of the most investment-conducive countries in the pool represents a mandatory achievement for Romania. Therefore, the country secured a sound, healthy economy, enjoying generous state aid schemes and a competitive tax system – one of the lowest flat tax, VAT and income tax rates in the EU as well as tax exemption on reinvested profit.
The friendly business climate stands for solid ground in achieving sustainable global competitiveness, being designed to satisfy the international business community need for successful projects to be implemented.
A significant network of 96 industrial parks spread across the country with both private and public ownership, brings to investor’s fingertips suitable locations with access to utilities & benefit packages according to their focus, for successful project implementation.
Another “pro” for taking upon the country resides in its extensively creative potential of highly skilled workforce at competitive prices, (third lowest minimum wage in EU) enjoying reduced cultural and language barriers. Born at the crossroads of different cultures and civilizations, where East meets West, Romanians are multilingual, flexible, innovative and future oriented.
Thus, today Romania is a country of quality that in the past few years has succeeded in moving forward the value chain, as some of the investors that entered the market over fifteen years ago with basic manufacturing are now branching out into more technologically sophisticated projects. The country stands as a benchmark for the region, a center of core competencies in the high-technology based global market.
Romania and InvestRomania are fully committed to secure value-added investments that are technologically advanced, innovation intensive, with maximum economic impact as the only viable way for maintaining Romania where it rightfully belongs: the front line of the internationally enterprising.
General Info on Romania
Nation: Romania
Capital city: Bucharest
Geographic position: in the south-east of Central Europe. Neighbours: Ukraine (N), the Republic of Moldova, Ukraine, and the Black Sea (E), Bulgaria (S), Serbia (SW), and Hungary (W).
Population: ca. 21,700,000. Outside the country’s borders there are large Romanian communities.
Official language: Romanian (a neo-Latin language of the Romance languages family)
Ethnic structure: Romanians – 89.5%; Hungarians – 6.5%; other ethnic groups – 4%
Religion: Eastern Orthodox – 86.7%; Roman-Catholic – 4.7%; Protestant – 3.2%, etc.
Administrative organization: 41 counties, plus Bucharest, the capital city (population ca. 2,200,000). There are 263 cities and towns, of which 80 municipalities, and 2,685 communes with over 13,285 villages.
Climate: temperate-continental, four seasons
Features: mountains (31% of area), hills and plateaus (33%), plains (36%), Danube Delta
The Romanian State:
- Romania is a sovereign and independent, unitary and indivisible nation state;
- Form of government: republic;
- Romania is a democratic and social state ruled by the law;
- The state is organized according to the principle of separation and balance of the powers – the Legislative, the Executive and the Judiciary – in the framework of constitutional democracy, guaranteed by political pluralism.
The President of Romania represents the Romanian state and guarantees the national independence, unity and territorial integrity of the country (5-year term).
The Legislative: The Parliament of Romania (4-year term) has two houses: the Senate and the Chamber of Deputies.
The Executive: The Government of Romania, headed by the Prime Minister, entrusted by the President of Romania with forming the Cabinet and with the Governance Program endorsed by Parliament by a vote of confidence.
The Judiciary: independence guaranteed by the Superior Council of the Magistracy; judges are irremovable.
Romania is a member of the UN (1955), of NATO (2004) and of the European Union (2007).
Travel advice & useful links
I. Entry and stay conditions in Romania
Citizens of the European Union or from the European Economic Area (EEA) can enter Romania at any border checkpoint where they submit must a valid identity document – passport or another identity document acknowledged by the Romanian State.
EU/EEA citizens may enter and stay in the territory of Romania in keeping with the right of free movement and residence granted under the Romanian legislation, according to European provisions. For a stay in Romania longer than 90 days, a registration certificate has to be obtained from the Romanian Immigration Office.
Citizens of other states (states not in the EU/EEA) need an entry visa.
For info on the Romanian visa, visit the MFA website – Visa section.
For further info go to the websites of:
– the Romanian Immigration Office – http://ori.mai.gov.ro/;
– the Romanian Police Border – http://www.politiadefrontiera.ro/.
2. Internal Transport
In Romania driving is done on the right side of the road. Speed limits on Romanian roads are as follows: 50 km/h in built-up areas, 90 km/h on open roads, 100 km/h on European national roads (E) and 130 km/h on motorways. In Romania you give way to traffic coming from your right. Wearing seat belts is mandatory. Parking is permitted in special parking areas and on public roads (unless there are signs prohibiting parking). In case of road accidents, irrespective of how serious, until traffic agents arrive, it is not permitted to alter the position of the vehicle or move it away from the where the accident happened. In case of emergency, call 112.
For futher info go to the website of the Romanian Police – www.politiaromana.ro.
3. Health Insurance
Health and travel insurances are accepted in medical establishments in Romania, provided payment is confirmed first by the foreign insurance company. Insurance companies in Romanian sell health insurances for the duration of the stay in the territory of the Romanian State.
For further info go to the website of the National Health Insurance House – www.cnas.ro.
4. Customs Regulations
Persons travelling to Romania must declare and present to the customs authorities the goods in their possession and their personal luggage. The goods may be declared in writing and verbally. Goods that are to be marketed are subject to the customs regime. For personal goods no customs duties are levied.
For further details visit the websites of:
– the National Customs Authority – www.customs.ro;
– the Romanian Police Border – www.politiadefrontiera.ro.
5. Credit Cards
In Romania all types of credit cards valid in the European Union are accepted. Credit cards may be used at retailers or service providers where signs indicate the cards accepted, and at any ATM. ATMs dispense Lei, the national currency.
6. Useful Phone Numbers
- Prefix for Romania: +40; for further info go to www.tourismguide.ro/x/prefixe;
- Ambulance, Police, Firefighters – 112;
- Border Police – (021) 201.33.09; www.politiadefrontiera.ro;
- Bucharest Otopeni Airport – (021) 204.10.00; www.otp-airport.ro;
- Bucharest Baneasa Airport – (021) 232.00.20; www.baneasa-airport.ro;
- Railways Information (Bucharest) – (021) 9521; www.cfrcalatori.ro;
- Toll-free number for tourists (air traffic) – 0800.86.82.82;
- Info on telephone subscribers – 118.932; www.118.932.ro.
7. Useful Links
For more information you can access the following websites:
- Ministry of Internal Affairs: http://www.mai.gov.ro/engleza/Home_eng/english.htm
- Ministry of Justice: http://www.just.ro/
- Ministry of Health: http://www.ms.gov.ro/
- Ministry of Regional Development and Public Administration: http://www.mdrt.ro/en/
- General Inspectorate for Immigration (ORI): http://ori.mai.gov.ro/home/index/en
- General Inspectorate of the Romanian Border Police: http://www.politiadefrontiera.ro/
- National Customs Authority: http://www.customs.ro/
- Single National Emergency Calls System: http://www.112.ro/
- Mobile Emergency Service for Resuscitation and Extrication (SMURD): http://www.smurd.ro/
Surprising Romania
There are bits of Romania scattered all over the world, like a puzzle waiting to be done; Romania is so universal and yet so unique in its own kind – a world in a country. From the spectacular natural environment to ancient customs that defy even the most skeptical minds, all evolving around our greatest country asset ever – our people.
From the finest tastes and unique flavors to breath-taking landscapes, churches older than time and mixtures of civilizations preserving values unaltered across millennia, Romania is the “It” place to be.
Bucegi Mountains, Sfinx
Romania enjoys the fairy-tale places where time stands still and stories come to life, offering one of the most scenic rides of great richness, wilderness and breath-taking panoramas. Dramatic mountain landscapes, peaceful villages, bustling cities, medieval monasteries hosting beautiful frescoes, soft sands and a wonderful sea side represent just a few of Romania’s real treasures where people are ready to welcome you into their hearts and offer you hospitality throughout your visit.
We have, within a fairly-short distance, access to the spectacular Carpathian mountains, the unique Danube Delta and the impressive Black Sea, at only a few kilometers from each other.
Romanian’s most precious beauties entered the UNESCO world heritage, as recognition of its role in preserving the humankind civilization for generations to come. The beautiful Danube Delta is largest and best preserved of Europe’s deltas hosting over 300 species of birds, some of them being unique in the world.
The Danube Delta
Romanians have created an impressive, diverse and distinctive culture over the last 2000 years. Still to these days, they have impeccably preserved traditions that show the true nature of the people: a great nation with riveting history, a civilization that defied time and spiritual heritage. A glimpse at the hand of a potter shaping to life its clay (Horezu) or the Călușarii dance with artists that float in the air are just a mere glance at the incredible legacy we have today.
You can find traces of this ancient civilization all over the country, from its earliest vestiges to the most futuristic architecture, a constant reminder of who we are and where we came from.
For centuries, Romanians have created, built and nurtured traditions, culture, religion and everything worth saving as a nation, being the pillar of strength in keeping the European spirit alive. It is the likes of Vlad the Impeller – the fierce ruler of Transylvania that have put the country on the world’s most emblematic figures of all times, but behind his contemporary myth, lies a life dedicated to defending and staying true to the core values of Europe and Christianity.
Romanians have a magic touch: they have churches older than time. The history of Transylvania is told through the wood of its churches and the times stood still in Moldova with the Voroneț monastery and its walls painted in the most mesmerizing blue in the world that can’t be found anywhere else.
Moreover, they are home to the exquisite wooden gates of Maramureș – remainders of our unparalleled craftsmanship and the “Merry Cemetery of Săpânța” where humorous poetry combines with life celebration in a unique manner that only Romanian’s could do.
Romania has also an incredible ancient architecture from the days where building castles was not luxury but a necessity.
The Corvin Castle, also known as Hunyadi Castle – one of the largest in Europe, enjoys a gorgeous Gothic-Renaissance design that makes it unique due to its magnificent location and one-of-a-kind preservation.
The beautiful Bran Castle that was once residence to Vlad the Impeller represents a gem of its own not only by fame but also by its wonderful design, a true staple in our architecture.
Last but not least Romania has the Peleș Castle – worthy of a king, home to our royal family, a family related to the British crown and almost all royal families of Europe and beyond.
Romania has qualities one cannot deny; the mixture of flavors makes its food and beverages unique in the world, as they have been generously reworded internationally and their indubitable qualities have been acknowledged by some of the greatest experts worldwide.
The Romanian cuisine is only matched by its diversity. The mixture of flavors only adds to its richness as we have Mediterranean influences from the ancient Greeks (our partners in trade), the Romans (giving us the country name), the Saxons (living in southern Transylvania), the Turks and our neighbors the Hungarians.
Romania has about 10 grape sorts that you can’t find anywhere else in the world, as we are the preservers of a 4000 years old Romanian wine culture that has been internationally acknowledged.
The exquisite dishes, the traditional beverages combined with juiciest fruits and vegetables are a flavor feast meant to seduce the genuine “connoisseur”, the one who understands and truly enjoys the mix and match of our cuisine.
Expats and travelers often consider Romania a place of their own, mirroring other cultures features, blending them in its life style. Romanians are well known for their capacity to adapt, to offer and share some of their good faith undamaged in time.
Bucharest is Romania’s capital and it’s one of the most vibrant cities with theatres, galleries and good entertainment.
The “House of Parliament” is known as one of the largest buildings of the sort in the world matched only by the Pentagon who allegedly built another wing there, just to remain the largest world-wide.
Cities like Brașov positioned beautifully at the heart of Transylvania, or Timisoara, the cradle of democracy in Romania, are just a few of the treasures that will add to the country unaltered beauty and core values.
Sighișoara represents one of the most beautiful and best-preserved medieval towns in Europe. Designated as a World Heritage Site by UNESCO, this perfectly intact 16th century gem with nine towers, cobbled streets, burgher houses and ornate churches rivals the historic streets of Old Prague or Vienna for atmospheric magic.
In 2007, Europe has chosen the medieval city of Sibiu as one of its official capitals of culture, putting us on the world map of great contributors to the universal civilization, where we rightfully belong.
Born at the cross roads of different cultures and civilizations, where East meets West, Romanians are multilingual, open to new experiences, innovative and future oriented.
Education in Romania is internationally acknowledged, students from domestic higher education institutions being accepted at some of the most prestigious universities worldwide. There are also foreign students who choose Romania, following the steps of some of the most well-known scientists in the worl: Nicolae Păulescu (inventor of Insuline), George Emil Palade (Nobel Prize in Physiology and Medicine), Emil Racoviță (speleologist) and many other mathematicians, physician doctors, or pioneers setting foot where no one has even dared dreaming.
When you wright with your pen just remember it was a Romanian who invented it (Petrache Poenaru), when you fly a jet set it was another Romanian pioneer that pre-invented it (Henri Coandă) and when you type on your computer a “mulțumesc” could pop to mind as yet a Romanian is the father of cybernetics (Ștefan Odobleja).
Contributors to the universal heritage like Constantin Brâncuși, the great artist who initiated the restructuring of the world’s sculptural language in the 20th century, the incredible writers Eugene Ionesco and Emil Cioran or Mircea Eliade who wrote the first history of civilization and brought the world closer to its core values, George Enescu, the world’s prestigious composer, are just a few of the names that redefined art as Romania’s gift to humanity.
All the above mentioned and more make Romania a country worth knowing , a fabulous journey, a destination and yet a new departure, a starting line for any successful race to the finish, friendly and challenging at the same time, but most of all overwhelming.
Constantin Brâncuși – The Table of Silence
Cost of living
Copyright@Dragos Asaftei
Bucharest vs. other EU capitals
When compared to other European countries Romania is quite an affordable destination. The cost of living in Romania, especially in Bucharest, is around 50% lower compared to other major Western cities like Vienna, London, Berlin, Paris and below the average of other capitals of the CEE region like Prague, Warsaw or Budapest. Over the last decades, Bucharest has grown into a vibrant European capital, a multifaceted city that is still expending and is far off from its maximum potential.
To maintain the same standard of life that you can have in… | with… | in Bucharest, you need around… |
Vienna | 4,091 Euro | 2,450 Euro |
London | 4,653 Euro | 2,450 Euro |
Berlin | 4,567 Euro | 2,450 Euro |
Paris | 5,132 Euro | 2,450 Euro |
Prague | 3,453 Euro | 2,450 Euro |
Source: www.numbeo.com, October 24th, 2022
The updates on Romania were provided courtesy of Invest Romania!