What Romanian cities drew most foreign investors last year?
Bucharest continues to attract more foreign investors. In the first 11 months of last year, foreigners have invested EUR 18.7 million in the Romanian capital in the newly established companies, according to the National Trade Register Office (ONRC) data, considering the subscribed share capital.
Cluj is next, with foreign investment of EUR 3.3 million, followed by localities in Ilfov county, with EUR 3.2 million and Brasov – EUR 1.13 million.
Moreover, Brasov is within easy reach of Timisoara in the ranking of cities by foreign capital attracted in new companies, at e difference of only EUR 24,100.
In the first eleven months of 2016, non-residents’ direct investment in Romania totalled EUR 3,928 million, according to National Bank of Romania (BNR), up by 22 percent compared to the same period of the previous year, when FDI reached EUR 3,218 million.
This represents a record level of the last eight years.
According to a business sentiment index conducted last year by Foreign Investors Council (FIC), bureaucracy is excessive compared to other countries in the region and the lack of legislative predictability continues to be a major problem.