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Component 1. Elaboration of Bucharest's Iuds, Capital Investment Planning and Management

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Component 1. Elaboration of Bucharest's Iuds, Capital Investment Planning and Management ROMANIA Reimbursable Advisory Services Agreement on the Bucharest Urban Development Program (P169577) COMPONENT 1. ELABORATION OF BUCHAREST’S IUDS, CAPITAL INVESTMENT PLANNING AND MANAGEMENT Output 3. Urban context and identification of key local issues and needs, and visions and objectives of IUDS, and identification of a longlist of projects. Chapter 2. Economic Development March 2021 DISCLAIMER This report is a product of the International Bank for Reconstruction and Development/the World Bank. The findings, interpretations and conclusions expressed in this paper do not necessarily reflect the views of the Executive Directors of the World Bank or the governments they represent. The World Bank does not guarantee the accuracy of the data included in this work. This report does not necessarily represent the position of the European Union or the Romanian Government. COPYRIGHT STATEMENT The material in this publication is copyrighted. Copying and/or transmitting portions of this work without permission may be a violation of applicable laws. For permission to photocopy or reprint any part of this work, please send a request with the complete information to either: (i) the Municipality of Bucharest (Bd. Regina Elisabeta 47, Bucharest, Romania); or (ii) the World Bank Group Romania (Str. Vasile Lascăr 31, et. 6, Sector 2, Bucharest, Romania). This report was delivered in March 2021 under the Reimbursable Advisory Services Agreement on the Bucharest Urban Development Program, concluded between the Municipality of Bucharest and the International Bank for Reconstruction and Development on March 4, 2019. It is part of Output 3 under the above-mentioned agreement – Urban context and identification of key local issues and needs, and visions and objectives of IUDS and Identification of a long list of projects – under Component 1, which refers to the elaboration of the Bucharest’s Integrated Urban Development Strategy, Capital Investment Planning, and Management. ACKNOWLEDGEMENTS This report has been delivered under the provisions of the Reimbursable Advisory Services Agreement on the Bucharest Urban Development Program and has been prepared under the guidance and supervision of Christoph Pusch (Practice Manager, Social, Urban, Rural and Resilience for Europe and Central Asia) and Tatiana Proskuryakova (Country Manager, Romania and Hungary). The report has been prepared by a team under the coordination of Dean Cira (Lead Urban Specialist) and composed of Ioana Ivanov (Senior Urban Development Specialist), Marius Cristea (Senior Urban Development Specialist), Reinhold Stadler (Senior Urban Transport Specialist), Oana Stănculescu (Urban Development Specialist) Amelia Pîrvu (Analyst), Sorina Racoviceanu (Lead Urban Development Specialist), Marcel Ionescu-Heroiu (Senior Urban Development Specialist), Carli Venter (Senior Urban Development Specialist), Oana Franț (Operations Specialist), Bianca Butacu (Analyst), Adina Vințan (Operations Specialist), Ioana Irimia (Communications Specialist) și George Moldoveanu (Information Assistant). The team would like to express its gratitude for the excellent cooperation, guidance, and timely feedback provided by the representatives of the Municipality of Bucharest, especially Mr. Nicușor Dan, Mr. Sorin Chiriță, Mr. Cătălin Zoican, Ms. Adriana Duțu, Ms. Luminița Glodea, and by the many other local and regional partners that have contributed to the elaboration of this report. ABRECIETIONS AND ACRONIMS ALU Active Local Units AROPE A composite indicator adopted at European Union level BPO Business Processes Outsourcing CBD Central Business District CFR Romanian Railways CLLD Community-led local development COR Romanian Classification of Occupations DGASMB Bucharest General Directorate for Social Assistance DGASPC and the Bucharest General Directorate for Social Assistance DGASPC General Directorates for Social Assistance and Child Protection EU European Union EUROSTAT Statistical office of the European Union. FDI Foreign Direct Investment FUA Functional Urban Area GDP Gross Domestic product GVA gross value added HORECA Hotel/Restaurant/Catering ICT Information Communication and Technology IT Information Technology IT&C Information Technology and Communication IUDS Integrated Sustainable Urban Development Strategy LAG Local Action Group MRDPA Ministry of Regional Development and Public Administration NACE Nomenclature Statistique des Activités Économiques dans la Communauté Européenne NBR National Bank of Romania NGO Non-Governmental Organization NIS National Institute of Statistics NTRO National Trade Register Office NUTS The common classification of territorial units for statistics PHC Primary Health Care RDI Research, Development, Innovation ROP Regional Operational Programme SME small medium enterprises UMA Urban Marginalized Areas UN United Nations UNCTAD United Nations Conference on Trade and Development UNICEF United Nations Children’s Fund TABLE OF CONTENTS 1. General context (global, national, regional) ....................................................................................... 1 Regional competitiveness in a European context ............................................................................... 1 1.1.1. Macroeconomic indicators and economic performance ............................................................ 7 1.1.2. Capital city attractiveness and labor resources……………………………………………………………………..14 2. Economic profile of Bucharest, main economic sectors and their relevance for national economy .... 20 3. Foreign investment and foreign trade ............................................................................................. 48 3.1. Foreign investment ............................................................................................................................ 48 3.2. Foreign trade ..................................................................................................................................... 57 4. Workforce ...................................................................................................................................... 64 4.1. Training .............................................................................................................................................. 92 5. Research, development, innovation and business support services and infrastructure ..................... 95 6. Economic development drivers and specialization potential .......................................................... 105 7. Conclusions, issues and trends, strategy recommendations ........................................................... 114 Appendix 1 – Regional competitiveness index for the Bucharest-Ilfov Region ........................................ 123 Appendix 2 – Component indicators of the regional competitiveness index ........................................... 124 Appendix 3 – Foreign investors in Bucharest City .................................................................................. 128 Appendix 4 – Support infrastructure for R&D and business ................................................................... 134 Appendix 5 – Location quotient ............................................................................................................ 142 Appendix 6 – Shift-Share Analysis ......................................................................................................... 145 LIST OF TABLES Table 1 – GVA structure in the Capital City and the city's competitive position in a national context ............ 12 Table 2 – Romanian cities where Romanians would most like to live .............................................................. 14 Table 3 – Top 10 subunits of Bucharest City companies, by number of employees, 2018 ............................... 33 Table 4 – Top 10 subunits in Bucharest City by turnover, 2018 ........................................................................ 37 Table 5 – Top 10 companies by foreign ownership to the subscribed capital .................................................. 54 Table 6 – Top 10 foreign investors in Bucharest City, by turnover and number of employees, 2018, by administrative sectors ....................................................................................................................................... 55 Table 7 – Monthly gross average wages in Bucharest City by national economy activities (NACE divisions), 2018 ........................................................................................................................................................................... 87 Table 8 – National ranking by enterprises active in RDI .................................................................................... 95 Table 9 – Competitiveness of Bucharest City economy in a national context (NACE sections) ...................... 106 Table 10 – Competitiveness of economic activities in Bucharest City in a national context (NACE divisions) – selection .......................................................................................................................................................... 109 Table 11 – Competitiveness of computer programming, consultancy and related activities ......................... 112 Table 12 – Foreign investors in Bucharest City, by turnover and number of employees, 2018, by administrative sectors ............................................................................................................................................................. 128 Table 13 –
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