Biotechnology could attract major investments in Romania

„A predictable, coherent and transparent business environment to encourage the investments and stimulate innovation, a stable law framework, funds allotted to the research field are just some of the actions that might contribute to the development of research and innovation on local level and which could turn Romania into a biotechnology hub, as it has became an IT hub for several years now,” Gábor Sztaniszláv, Country Director Amgen Romania told the „DeCODam ADNul viitorului/ DeCODing the future’s DNA” conference rejoining on Wednesday representatives of the US and Ireland embassies in Bucharest, national decision-making bodies, representatives of the medical community, patients’ associations and of the IT and pharma academic and business fields.

The attendees tackles topics such as the development of some innovation incubators across universities, stimulation of education in medicine and development of the programmes to encourage youth to practice in Romania.

According to Gábor Sztaniszláv, Amgen invested USD 4 billion in research and innovation worldwide in 2015, with USD 600 million being directed to supporting innovative programmes and to setting up cutting-edge facilities. „Part of this capital could be led to investments in Romania if there is a medium and long term strategy”, the Amgen Romania representative said.

Andrew Harwood, deputy chief of the Ireland’s diplomatic mission to Romania offered an example of good practice in his country, saying that the industry producing innovative medicines invested about USD 8 billion in developping production facilities in Ireland, with most part of the capital being drawn in the past ten years, which, according to the diplomat, represents almost the largest wave of investment in new biotechnology facilities anywhere else in the world.

Taking the Romanian IT sector as an example of good practice and of predictable business area, the participants voiced the idea that this IT business pattern could be also transferred to the biotechnology research. If the IT sector has been Romania’s priority in the past 20 years, biotechnoloy should be the new priority for the next 20 years, they say.

„The Government’s and Presidency’s representatives, but also the other authorities joined the cause and delivered a joint message: there is a clear intention of stimulating investors to develop research and innovation in Romania. For this to happen we need a coherent strategy and we saw how a national biotechnology programme as in Ireland could attract billions of USD dollars in just a few years. Next to a good strategy, we need more dialogue and, above all, we need a better implementation of the actions. To benefit of the research and innovation’s development Romania needs a good implementation of the strategy in due time,” Gábor Sztaniszláv concluded.

AMGen is an American multinational biopharmaceutical company, also known as the world’s largest independent biotechonology firm.