Privatization and foreign investment
Article Abstract:
Most major enterprises in Romania are still controlled by the state, though a large number of new companies have been set up since 1990. A hundred privatizations were carried out in 1991, 1992 and 1993, with a further 700 carried out in 1994. The government aims to privatize 3,000 more companies by mid 1996. Foreign investment increased from 2nd half 1994, and investors include Daewoo which acquired a stake of 51% in Rodae Automobile in 1995. Siemens, Colgate Palmolive, and Coca-Cola have also invested in Romania.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1995
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Romania starts to catch up
Article Abstract:
The Romanian economy has not reached levels of production achieved prior to the end of communism, but there are encouraging signs of recovery. Unemployment is dropping, and exports are rising, while foreign investment is also increasing. The government is carrying out a privatization program, and aims to join the European Union (EU). Romania offers foreign investors a low cost labor force which is well trained. Some raw materials are also relatively inexpensive, as is electric power.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1995
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Industry recovers from the Revolution
Article Abstract:
The Romanian revolution hit the country's industry and companies had to be closed as part of economic reform. Unemployment became a problem, as did inflation. Industry started to recover from 1993 when output rose by 1.2%, with a further rise of 3.7% in 1994. Light industry has performed well in terms of exports, especially the furniture industry, where exports account for three quarters of production. Productivity has also risen in industry.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1995
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