Romania, hub for Turkish investors. ‘Business environment needs financial predictability’

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Romania is an important market for Turkish investors, with a significant potential for development and performance proven in the last 3 years, members of the Association of Turkish Businessmen in Romania (TIAD) said, during a debate about domestic economy seen from the perspective of economists and finances experts, a press release informs.

„The companies that are part of the Turkish business environment have confidence in Romania’s economy, which has turned into a hub for investors, due to its stability and positive results in recent years, as confirmed by the good macroeconomic indicators. Romania remains a priority country for Turkish businessmen and we want through TIAD meetings to promote the communication between the business community and debating current topics that can contribute to the progress of the Romanian economy ,” Murat Demiray, president of TIAD said.

However, Turkish businessmen note that political stability is extremely important at this time, and business environment needs a financial predictability, especially given that 2016 is an election year.

Ufuk Tandoğan – CEO Garanti Bank, Haluk Kurçer – CEO Romania Dogan Grup Kanal D, Levent Yuksel – Business Unit General Manager of Star Foods of PepsiCo, Ömer Tetik – General Manager Banca Transilvania, Selçuk Şaldirak -President of Acces Financial Services, Burçin Atakan – Country Leader Fraud Investigation and Dispute Services of Ernst & Young and Mukerrem Aksoy – Economic Advisor of the Turkish Embassy in Bucharest were among those who attended the event.

According to foreign investors, the domestic economy has several advantages that are essential for the involvement level of the Turkish company, such as energy independence, a well-developed workforce and skilled employees in Europe returning home.

„Of course, like any economy, the Romanian one is affected by global and regional events, but currently there are no signs of concern,” the release reads.

Regarding the economic decisions, TIAD members appreciate the VAT cut and the current level of tax revenues. But they consider that a long-term plan for a period of 5 years providing predictability business environment needs to be developed.

At the same time, they agree that Romania is not ready for the moment to increase the minimum wage which must be made considering a gradual appreciation. European funds is still an opportunity for Romania, especially in IT, agriculture (including agro-industry) and auto industry.

At the same time, the sustained fight against corruption is a positive sign for business environment, but the measures imposed to all companies must not lead to an excessive increase of bureaucracy.

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