Buletin de afaceri România-Suedia Business Bulletin Rumänien-Sverige -Sweden business newsletter

Nr. 36/martie-aprilie 2019 Nr. 36/Mars-April 2019 No. 36/March-April 2019

BPCE Stockholm, SUEDIA Handelskontor Rumäniens i Stockholm, Sverige Trade Office of Romania in Stockholm, Sweden 36, Ostermalmsgatan, 10041-Stockholm; tel.: +46 8 102858; email: [email protected]

Business Newsletter Romania-Sweden Facts about Romanian Economy

European Commission Economic Forecast – 2019, Romania Table of contents The European Commission publishes macroeconomic forecasts for the EU three times a year, in spring (May), autumn (November) and winter (February).

These reports are produced by the Directorate-General for Economic and Financial Affairs (DG ECFIN). Recently was released the Winter 2019 Facts about Romanian Economic Forecast; for more information, see: Economy https://ec.europa.eu/info/sites/info/files/economy-finance/ip096_en.pdf Bilateral Trade

Doing business in Romania EU Winter 2019 Economic Forecast: growth moderates amid global uncertainties

The European Commission has released its Winter 2019 Economic Economic & Financial News Forecast and it has good news for all EU member states. The European economy is forecast to grow for the seventh year in a row. Business opportunities The pace of growth is forecast to be fastest in Malta at 5.2%, followed by 4.1% in Ireland and Slovakia.

Romania is forecast to growth with 3.8%, being in top three. Tourism Italy is going to experience, at 0.2%, the slowest growth.

The Commission said that the growth will be moderate International events compared to the last years high rates and the outlook is

subject to large uncertainty. Facts about Romania Pierre Moscovici, Commissioner for Economic and

Financial Affairs, Taxation and Customs, stated: Useful contacts “After its 2017 peak, the EU economy's deceleration is set to continue in 2019, to growth of 1.5%.

This slowdown is set to be more pronounced than expected last autumn, especially in the euro area,

due to global trade uncertainties and domestic factors in our largest economies… All EU countries are expected to continue to grow in 2019, which means more jobs and prosperity… and Pg.2/35 growth should rebound gradually in the second half of this year and in 2020.”

Business Newsletter Romania-Sweden Facts about Romanian Economy (cont.)

European Commission Economic Forecast - 2019, Romania (cont.) Table of contents The European Commission publishes 3 times a year its EU macroeconomic forecasts for all its member states.

More about Romanian Winter 2019 economic forecast, here: https://ec.europa.eu/info/sites/info/files/economy- Facts about Romanian finance/ecfin_forecast_winter_07_02_19_ro_en.pdf

Economy Bilateral Trade

Doing business in Romania

Economic & Financial News

Business opportunities

Tourism ROMANIA – economic forecast

International events The economic boom that began in Romania in 2017 eased in 2018. Real GDP growth eased from 7% in 2017 to 4.3% annualised in the first three quarters of 2018. For the year as a whole it is estimated at 4%. Facts about Romania The slower pace of growth was due to private consumption, as the effects of tax cuts implemented in 2017 faded away and inflation weighed more heavily on real disposable income. Nonetheless, private consumption growth remained strong as a result of the tight labour market and rising Useful contacts wages.

Investment growth is likely to show a significant decrease in 2018, following contractions in the second and third quarters. According to preliminary data, inventories contributed 2.8 pps. to

GDP growth in the first half of 2018. If confirmed, this build-up of inventories may explain the subdued level of private investment in 2018.

Net exports contribution to GDP growth turned more negative in 2018, with both imports and

Pg.3/35 exports declining. Consumption goods were the main drivers of import developments. Exports decelerated on the back of more sluggish external demand and an appreciation of the real effective exchange rate.

Business Newsletter Romania-Sweden Facts about Romanian Economy (cont.)

European Commission Economic Forecast – 2019, Romania (cont.) Table of contents

More about Romanian Winter 2019 economic forecast, recently released by the European Commission, here: https://ec.europa.eu/info/sites/info/files/economy- Facts about Romanian finance/ecfin_forecast_winter_07_02_19_ro_en.pdf

Economy Bilateral Trade (cont.) ROMANIA – economic forecast

Real GDP growth is forecast to further decrease to 2017 2018 2019 2020 Doing business in 3.8% in 2019 and 3.6% in 2020. Indicators Romania The composition of growth is expected to remain fairly stable, with private consumption still the main driver. GDP growth 6,7 4,3 3,8 3,6 Economic & Financial (%, y-o-y) * News The evolution of investment in 2019 will largely depend on the impact of policies introduced in

December 2018 concerning the banking, energy and Inflation 1,1 4,1 3,3 3,1 (%, y-o-y) * Business opportunities telecommunications sectors. The contribution of net exports is expected to Note: *- estimated data recently annualized and forecasted by EC remain negative but progressively less so in 2019 Tourism and 2020.

The annual headline inflation, reached 4.5% in International events September 2018, the highest level since 2013, and

averaged 4.1% in 2018 overall. The deceleration Facts about Romania towards the end of 2018 was mainly on account of decreasing food and, above all, energy prices. Over the forecast horizon, headline inflation is forecast

Useful contacts to decelerate further to 3.3% in 2019 and 3.1% in 2020, driven by base effects and falling oil prices. However, a further depreciation of the currency vis-à-vis the euro poses an upward risk to price

levels. Underlying inflation remained broadly stable in 2018, growing at 2.7% but it is expected to decrease further in 2019 and 2020, in line with headline inflation. Pg.4/35 The European Commission stresses that the risks to the forecast are clearly on the downside. Besides a potential negative impact on credit, the government’s emergency ordinance from December could have a broader effect.

Business Newsletter Romania-Sweden Facts about Romanian Economy (cont.)

Bilateral Trade Romania - Sweden Table of contents • The last five years continued the positive trend of increasing the bilateral trade. So, during 2017 the total bilateral trade was 971,93 million Euro (5,3% more than in 2016), with the Swedish export of 424,69 million Euro (11,3% more than in 2016) Facts about Romanian and the Romanian export to Sweden of 547,24 million Euro (1,1% more than in Economy 2016). The bilateral trade maintained a favorable balance, of 122,55 million Euro, Bilateral Trade on the Romanian side. It should be highlighted the sustained growth of the bilateral trade in the last years, in spite of the problems generated mainly by the Doing business in international crisis started in 2008. Romania • It is noteworthy that the bilateral trade growth was due to the general increase of exports and imports, both for Romania and Sweden, and this is why there is a Economic & Financial balanced trade with significant prospects for growth and diversification. News • In 2018, the total bilateral trade was 1.043,54 million euros, 7,39% more than in the previous year. Last year, for the first time, the bilateral trade between Romania Business opportunities and Sweden exceeded the symbolic value of 1 billion euro. The Swedish export was 457,04 million euros, 7,59% more than in 2017, and the Romanian export to Tourism Sweden was 586,49 million euros, 7,23% bigger than the last year. The bilateral trade is keeping a favorable balance, of 129,45 million euros, on the Romanian International events side, for 2018. The bilateral trade figures of the 2018 are in correlation with the strong trend of growth and diversification of the economic relations between Facts about Romania Romania and Sweden. Evolution of Trade between Romania and Sweden (million Euro) Useful contacts 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

Total 636,46 496,35 557,08 686,28 675,14 773,62 843,18 874,62 922,76 971,93 1.043,54 Export 201,9 246,08 291,99 355,76 390,99 452,33 465,73 500,33 541,33 547,24 586,49

Import 434,56 250,28 265,09 330,52 284,15 321,29 377,45 374,29 381,43 424,69 457,04

Sold -232,6 -4,2 26,9 25,24 106,84 131,04 88.28 126,04 159,9 122,55 129,45 Pg. 5/35 Source: INS – Romanian Institute of Statistics

Business Newsletter Romania-Sweden Doing business in Romania

Table of contents

Invest Romania is the government organization dedicated to providing professional support and advice to foreign investors in Romania

Facts about Romanian Its main goal is to attract and facilitate foreign direct investment in Romania. (see a short country Economy presentation: http://investromania.gov.ro/web/wp-content/uploads/2017/03/2017_-Country-Presentation_InvestRomania.pdf) Bilateral Trade An useful guide was created to support foreign investors navigate the Romanian business environment when opening a business: “Made in Romania - The Foreign Investor’s Guide”. Doing business in The updated guide could be downloaded here: http://investromania.gov.ro/web/business-in-romania/the- Romania foreign-investors-guide-2017/ Whether it’s about opening a new office or an entire manufacturing facility, the Invest Romania’s expert Economic & Financial advice and support services are offered free of charge to organizations wishing to come to Romania. News Relevant information regarding institutional data can be found at http://dpiis.gov.ro/new_dpiis/en/ Invest Romania offers: Business opportunities • information on legal framework, business costs, CONTACT tax and government support, infrastructure, etc. www.investromania.gov.ro • links between potential investors and local 152 , , ROMANIA Tourism resources and opportunities. Secretary of State: Tel: +40 21 2025441, Fax: +40 21 3163158 • guidance for project implementation during E-mail: [email protected] International events all stages of the decision-making process and Foreign Direct Investment Department consultancy regarding any arising complications. Tel: +40 21 3163129 (int 106/107), Fax: +40 21 3163158 Facts about Romania • assistance in maintaining a level playing field Email: [email protected] for foreign investors and public sector stakeholders. Useful contacts North-East Regional Development Agency of Romania

For more information regarding the Agency's free services, see the Investor's Guide for the N-E Region of Romania, a comprehensive brochure that contains relevant figures for an investor, in order to support making an image about the region: http://www.adrnordest.ro/user/file/news/16/Brosura%20ADR_A4_2017_%20WEB%20landscape.pdf CONTACT: Robert Cotună - Expert | Business Development Directorate | Private Investment Office Pg. 6/35 www.adrnordest.ro; 9, Lt. Drăghescu Street, Piatra-Neamț, Romania 610125 Email: [email protected] Phone: +40 233 218 071 / 072; Mobile: +40 746 857 193

Business Newsletter Romania-Sweden Doing business in Romania (cont.)

Table of contents NEWS: FDI into Romania surges 89% y/y in January

Facts about Romanian The Central bank, BNR – National Bank of Romania Economy announced few days ago that the Foreign Direct Investment Bilateral Trade (FDI) into Romania surged by 88.5% in January 2019

compered with the same month last year, to 362 million euro Doing business in Romania ($410 million; 1$= 0.8836 euro).

Economic & Financial “Equity investment (including estimated net reinvestment of earnings) News amounted to 341 million euro and inter-company lending summed a net of 21 million euro at the end of January 2019” – representatives of BNR Business opportunities said in a statement citing provisional data.

Tourism This is in line with the expectations and trends from the last years. So, FDI into Romania increased by 2.8% year-on-year in 2018 to 4.936 billion euro. International events Non-residents' direct investment in Romania (net FDI) totaled EUR 4.56 billion in January-October 2018, nearly 10% more compared to the same period of 2017, Facts about Romania BNR announced. The FDI-to-GDP ratio thus reached 2.3% and the foreign direct investments have covered a significant part of the current account deficit reported at 4% of GDP for the same period. Useful contacts

www.investromania.gov.ro For more news, follow: 152 Calea Victoriei , Bucharest, ROMANIA Secretary of State: Tel: +40 21 2025441, Fax: +40 21 3163158 InvestRomania Newsletter E-mail: [email protected] http://investromania.gov.ro/web/wp-

Pg. 7/35 Foreign Direct Investment Department content/uploads/2019/03/InvestRoma Tel: +40 21 3163129 (int 106/107), Fax: +40 21 3163158 nia-Newsletter-2-Februarie-2019- Email: [email protected] compressed.pdf

Business Newsletter Romania-Sweden Doing business in Romania (cont.)

Defense and security firm SAAB opens Bucharest office, Table of contents targets Navy and civil marine contract

SAAB, the largest Swedish company and Facts about Romanian one of the largest companies in the military Economy industry in Europe, has opened an office in Romania. Bilateral Trade

Doing business in Romania

SAAB, the largest Swedish company and one of the largest companies in the military Economic & Financial industry in Europe, has opened an office in Romania. News The move comes in the context of the Defense Ministry aiming to launch several endowment projects for the Navy Forces, and the representatives of the Swedish Business opportunities companies have said that they are interested in taking part in the construction or upgrade of equipment.

SAAB, one of the few submarine constructors, might also participate in a contract Tourism through which Romania could buy submarines, according to the latest statements by

the Defense minister. International events The SAAB company is a military equipment supplier for several armies globally, including the German, American armies or various force structures in European Facts about Romania countries like the Czech Republic, , Poland or Croatia.

SAAB officials have stated at an event organised by the Swedish Embassy in Bucharest Useful contacts that they hope to cooperate with the Romanian Army in the navy, terrestrial and air forces.

According to the list of priority projects for military endowment, approved by the Parliament in 2017, the navy forces programs reach an estimated value of EUR 1.8

billion, which include plans for the purchase of a multifunctional corvette (EUR 1.6 billion) and the upgrade of anti-ship missile launching system (EUR 0.2 billion).

Pg. 8/35

Business Newsletter Romania-Sweden Doing business in Romania (cont.)

Ericsson to prepare RCS&RDS (Digi) network for 5G, IoT Table of contents

Ericsson is modernising the RCS&RDS (Digi) network to prepare it for the arrival of the 5G and IoT services, as the first collaboration of the two companies, in Romania. Facts about Romanian Economy

Bilateral Trade

Ericsson is modernising the RCS&RDS (Digi) network to prepare it for the arrival of the 5G and IoT Doing business in services. The multi-annual contract marks the first collaboration between the two companies at a Romania local level.

Ericsson was chosen by RCS&RDS to modernise its mobile network in Romania, offering its Economic & Financial users the possibility to benefit from improved mobile broadband services. The telecom News operator will replace the equipment already available in the Digi network of other vendors, with the latest radio equipment in its portfolio that can support NarrowBand-IoT (BN-IoT) and 5G. The project is primarily focused on modernisation of the Bucharest network and Business opportunities other large cities, marking the first collaboration in Romania of the two companies.

The contract also includes the implementation of access points based on the Radio Ericsson Tourism System (ERS), which can support 3G and 4G services, preparing, at the same time, the network for 5G. The new solution will support IoT type services, giving RCS&RDS the International events possibility to launch fast innovate B2B solutions and to identify and value new opportunities.

Facts about Romania “By collaborating with “The operators need solutions they can implement now in Ericsson, we will be able to their networks to meet the increase of the current services and Useful contacts benefit from the experience to prepare for the arrival of 5G” - Arun Bansal, Ericsson senior and global expertise of their VP, Head of Europe and Latin America said.

team to significantly “By making the first steps towards building a network that can modernise our radio be prepared for a future evolution, RCS&RDS will be able to network, so that we can value the 5G and IoT technologies already. This partnership efficiently support the represents a first major step for Romania towards 5G and IoT,

constant increase of data by bringing our experience of using mobile broadband services and internet consumption” - to another level. At the same time, our solutions, renown at

Pg. 9/35 Valentin Popoviciu, industry level, will allow RCS&RDS to explore new business RCS&RDS executive VP said. opportunities and to develop as it evolves towards 5G.”

Business Newsletter Romania-Sweden Doing business in Romania (cont.)

Second store of IKEA in Bucharest Table of contents

IKEA expects its second store in Bucharest to open in 2019, following an investment of around EUR 85 million. The new store is built by Facts about Romanian Economy Bog’Art and will open earlier than initially announced, by the end of Bilateral Trade summer.

Doing business in Romania

IKEA selected for the building of its second store in Bucharest, in Theodor Pallady area, the Economic & Financial leading Romanian construction and development company Bog’Art. News The store will open during the year 2019, following an investment of around EUR 85

million. Business opportunities The new store will have a surface of over 37 000 sqm and will be the largest in South-

Eastern Europe. It will create 300 jobs. Tourism

IKEA currently operates a store in northern Bucharest, Baneasa area (with 670 employees, International events in 2018).

IKEA Romania’s revenues increased by 14 percent in the financial year 2017 (Sept. 2016- Facts about Romania Aug.2017) and sales reached 586.59 million Ron (without VAT). During this time, over 3.3 million people visited IKEA store in Romania, over 7.5 million sole visitors accessed the site

www.IKEA.ro and online orders increased by 35.1 percent. Useful contacts “We are proud of the excellent growth in Romania, which led us to the fifth place in

top countries with the fastest growth in IKEA world this financial year. Our success is based on our unique democratic design and the online accessibility growth in all the

country. We trust in the future. Last year we made an important step to open the second IKEA store in Bucharest and we increased the storage capacity by 30 percent

aiming to improve the availability of products for online orders” - said Stefan

Pg. 10/35 Vanoverbeke, Country Retail Manager IKEA.

Business Newsletter Romania-Sweden Doing business in Romania (cont.)

Table of contents Autoliv to open new engineering center in Iaşi, Romania

Autoliv plans to expand its research and

development activities in Romania, and opens a new engineering center in Iaşi city, Facts about Romanian eastern Romania. Economy Bilateral Trade

Doing business in Romania Autoliv - the well-known producer of safety systems in the automotive industry

(founded in Vårgårda, Sweden in the form of Auto Service AB in 1953) - plans to expand Economic & Financial News its research and development activities in Romania. So, Autoliv opens a new engineering center in Iaşi city, eastern Romania.

Business opportunities The company representatives said they chose to extend the company activity in Iaşi because here there are an important number of engineers, specialized in the IT and automotive sectors. Tourism In Iaşi, the company is focused on the development of new software solutions, for state of the art Active Safety products, as well as for Passive Safety systems. International events The engineering center in Iasi becomes operational in the second part of 2017. Facts about Romania “We estimate that in the next three years, we will employ 200 engineers in Iaşi” - said Ionel Fierbinteanu, country manager Autoliv Romania. Useful contacts The company has plants in Braşov, Lugoj, Sfântu Gheorghe, Reşiţa. The Autoliv’s engineering centers are located in Braşov and Timişoara.

The R&D center in Timişoara employs over 450 people and in total, the company has approx. 11 000 employees in Romania.

Autoliv was the eight biggest exporter in Romania, in 2015, according to the Pg. 11/35 National Statistics Institute (INS).

Business Newsletter Romania-Sweden Doing business in Romania (cont.)

“Doing business in Romania” by Nordic companies Table of contents

Business Sweden initiated and financed “The Romania Business Climate”, a survey supported

also by the Embassies of Sweden, Denmark, Finland and Norway in Romania. Facts about Romanian The purpose of the survey was to explore how companies with Nordic capital perceive Economy the business climate in Romania, what are the opportunities and challenges of the Bilateral Trade market and to identify areas for improvement and outline future expectations for the Romanian market. Doing business in The survey focused on the following topics: Romania - Business establishment procedures, infrastructure and human capital; - Legislation, taxation and payments; - Investment environment, regulations and profitability. Economic & Financial News The result are based on the answers of 115 respondents, representing 32% of the total number of people, from Nordic companies, who participated to the study conducted by Business opportunities Business Sweden.

Tourism Results of the survey:

• Most of the companies think it is easy or very easy to establish a business in Romania and rent or buy premises. International events • The availability of competent staff is very good, the productivity high and the cost level is one of the lowest in EU. Facts about Romania • The legal system is improving and is trusted by Nordic companies. • The transparency of information is growing; the bureaucracy is still there, but it Useful contacts is not really a barrier. • A very good level of English knowledge, higher than in many other EU-countries and many Romanians know several foreign languages. • The communication infrastructure, especially regarding the roads and railways, is improving. • Romania is providing the second fastest internet speed in the World. • Nordic businesses are very welcome in Romania and they feel that the good reputation of the Nordic countries actually supports them in their business. Pg. 12/35 The majority of the respondents see a bright future for their business in Romania.

Business Newsletter Romania-Sweden Economic & Financial News from Romania

The Romanian Presidency of the Council of the European Union Table of contents 1 January – 30 June 2019

SME Envoys’ Meeting: Proposals for adapting to the digital economy

Facts about Romanian

Economy The Ministry for Business Environment, Bilateral Trade Commerce and Entrepreneurship organized the SME Envoys’ Meeting, on 18-19 March, 2019, under the Romanian Presidency of the Doing business in Council of the EU, with the support of DG- Romania GROW - European Commission.

Economic & Financial News

Minister Ştefan-Radu Oprea conveyed the message that Europe needs a mature, proactive and innovative public policy in order to support long term competitiveness of small and Business opportunities medium-sized enterprises, with direct effects on providing job opportunities and prosperity for local and regional communities. Tourism ”We want to change the Small Business Act, in order to adapt the European SME ecosystem to the developments in the field of digitalization. In order to have a International events competitive business environment, we need to facilitate private investment, to

eliminate bureaucratic burdens and to create a digital infrastructure at European Facts about Romania level” - said Oprea.

The future EU Multiannual Financial Framework 2021-2027 will finance, directly or through operational programs at MS level, projects of beneficiaries, including SMEs, that Useful contacts refer to digitalization, use of artificial intelligence, robots and new digital technologies – especially 5G and blockchain. All these processes will deeply transform the EU economies and will also mark the irreversible shift to the digital economy.

In this context, Romania has proposed to revise the Small Business Act by introducing the

digitalization concept. Thus, the proposal can be materialized either by adding a new principle to the other ten that are in place, or by adding it to the Skills and innovation Pg. 13/35 principle.

Business Newsletter Romania-Sweden Economic & Financial News from Romania (cont.)

The Romanian Presidency of the Council of the European Union Table of contents 1 January – 30 June 2019

SME Envoys’ Meeting: Proposals for adapting to the digital economy (cont.)

Facts about Romanian Economy The Ministry for Business Environment, Commerce and Entrepreneurship organized the SME Envoys’ Bilateral Trade Meeting, on 18-19 March, 2019, under the Romanian Presidency of the Council of the EU, with the support of DG-GROW - European Commission. Doing business in

Romania

Economic & Financial The event was an excellent opportunity for collaboration between national authorities, News representatives of the European institutions and entities that are active in national and EU innovations ecosystems, with the objective to promote national entrepreneurial systems by

Business opportunities developing structures such as business incubators and accelerators, hubs and clusters.

The first day of the event included a visit to the Extreme Light Infrastructure-Nuclear Physics Tourism (ELI-NP) project, at the Horia Hulubei National Institute of Physics and Nuclear Engineering (IFIN-HH), in Măgurele.

International events The conference was held on the second day, at the headquarters of the National Bank of Romania.

Facts about Romania Background Info

The SME Envoys are nominated by each Member State. The network of SME Envoys promotes Useful contacts SMEs’ interests throughout all government bodies, ensures that the ‘Think Small First’ principle is integrated into their policy-making and regulatory proposals, acts as the main interface between the Commission and national policy-makers in order to implement the Small Business Act (SBA), and contributes to the evaluation and reporting of the actions taken to implement the SBA in the MS.

SBA, the policy framework for SMEs in Europe, was adopted through a Communication of the EU Commission - COM(2008) 394 / 25.06.2008, and revised in 2011. SBA reflects the intention of the European Commission to recognise the central role of SMEs in the EU economy. The symbolic name of an 'Act’ given to this initiative underlines the political will of the Commission Pg. 14/35 to put in place for the first time a comprehensive policy framework through a set of 10 principles to guide the conception and implementation of policies for SMEs in the EU.

Business Newsletter Romania-Sweden Economic & Financial News from Romania (cont.)

The Romanian Presidency of the Council of the European Union Table of contents 1 January – 30 June 2019

Sustainable finance: Presidency and Parliament reach political agreement on transparency rules Facts about Romanian Economy EU is complementing its set of rules to Bilateral Trade encourage investors to be more aware of the impact of their business on the environment.

Doing business in Romania

The Romanian presidency of the Council and the European Parliament reached a Economic & Financial preliminary agreement on a proposal introducing transparency obligations on how News financial companies integrate environmental, social and governance factors in their investment decisions.

Business opportunities “Redirecting money towards greener, cleaner, more sustainable projects requires a stronger awareness by all market participants of the long-term impact of their

Tourism investment decisions. To do this, the EU is today setting out a transparency framework

to make sure that investors are well informed of the environmental and social impact of their investments.” – stated Eugen Teodorovici, minister for finance of Romania. International events The text agreed on 7 March sets out a harmonised EU approach to the integration of sustainability risks and opportunities into the procedures of institutional investors.

Facts about Romania It requires them to disclose: -the procedures they have in place to integrate environmental and social risks into their investment and advisory process; Useful contacts -the extent to which those risks might have an impact on the profitability of the investment; -where institutional investors claim to be pursuing a "green" investment strategy, information on how this strategy is implemented and the sustainability or climate impact of their products and portfolios.

The proposed regulation should limit possible "greenwashing" (i.e. products and services marketed as sustainable/climate friendly but in reality are not, to be pursued.)

Pg. 15/35 Next steps: The political agreement will be submitted to EU ambassadors for

endorsement; it will then undergo a legal linguistic revision and after, the Parliament and Council will be called on to adopt the proposed regulation at first reading.

Business Newsletter Romania-Sweden Economic & Financial News from Romania (cont.)

The Romanian Presidency of the Council of the European Union Table of contents 1 January – 30 June 2019

Information event for the Romanian business environment, in the context of the UK’s withdrawal from the EU

Facts about Romanian Economy On February 11, 2019, the Ministry of Foreign Affairs hosted an information event for the Bilateral Trade Romanian business environment, in the context of the UK’s withdrawal from the European Union.

Doing business in Minister Delegate for European Affairs Romania George Ciamba

The objective of the event “How to prepare for Brexit?” mainly concerned the provision of a Economic & Financial platform that would facilitate direct interaction between the companies that might be affected by the Brexit process and public institutions representatives. News Mr. George Ciamba, Minister Delegate for European Affairs, introduced the key points in the negotiation process regarding the UK’s withdrawal from the EU and highlighted the Business opportunities fundamental role the politically-endorsed agreement played in ensuring legal certainty for citizens and the business environment. At the same time, given the latest developments, the Tourism minister delegate called on economic operators, private sector entities and professionals to step up their readiness efforts in front of any scenario and emphasized that everyone was

responsible for developing their internal analyses and adopt the necessary measures. International events The speakers in the event were Angela Cristea, head of the European Commission Representation in Romania, Virgil Goagă, president of the Chamber of Commerce and

Facts about Romania Industry of Romania as well as representatives of the Ministry for Business Environment, Commerce and Entrepreneurship, the Ministry of Agriculture and Rural Development and the General Directorate of Customs. Useful contacts Discussions focused on the presentation of all the practical aspects to be considered by the business environment in the trade relation with the UK. Supposing the UK withdraws without an agreement, it will become a third country and there will be no possibility to have a

transition period, an aspect that supposes that economic operators should immediately get familiar with third country trade procedures: customs issues, VAT, WTO tariffs, veterinary approvals etc.

The participants showed confident that the Brexit process would be completed as an orderly Pg. 16/35 and predictable UK withdrawal from the European Union, which would lay the foundations for an unprecedented future partnership between the two parties, to the benefit of the citizens

and the business environment.

Business Newsletter Romania-Sweden Economic & Financial News from Romania (cont.)

The Romanian Presidency of the Council of the European Union Table of contents 1 January – 30 June 2019

EU modernises consumer rights and improves their enforcement

Facts about Romanian Economy Bilateral Trade For more details, follow: https://www.consilium.europa.eu/en/press/press-releases/2019/03/01/eu- Doing business in modernises-consumer-rights-and-improves-their-enforcement/

Romania

Economic & Financial News

The EU is improving the protection of consumers’ rights. Member states’ ambassadors

Business opportunities meeting in the Council’s Permanent Representatives Committee agreed recently on the Council’s position on a draft directive which amends four existing EU directives protecting consumers’ interests. Tourism The draft directive covers a wide range of topics. It amends:

International events - the unfair commercial practices directive 2005/29/EC, - the consumer rights directive 2011/83/EU, - the unfair contract terms directive 93/13/EEC and Facts about Romania - the price indication directive 98/6/EC.

Useful contacts It was proposed together with a proposal on representative actions for the protection of the collective interests of consumers as part of the ‘New Deal for Consumers’

launched by the Commission in 2017.

Next steps: The Romanian Presidency of the Council will now explore with the

European Parliament the possibility of agreeing to adopt the directive at first reading.

Pg. 17/35

Business Newsletter Romania-Sweden Economic & Financial News from Romania (cont.)

Government changes 2019-2021 budget strategy, estimates deficit at 2.76 pct of GDP Table of contents

The Finance Ministry has published a new fiscal-budget strategy for 2019-2021, which Facts about Romanian estimates a general consolidated budget deficit Economy of RON 28.24 billion (2.76 % of GDP), compared Bilateral Trade to a 2.55 % deficit established in the previous version of the strategy.

Doing business in Romania The GDP remains at the same level of RON 1,022 billion, economic growth reaches 5.5 %, budget revenues reach 33.31 % of GDP, while spending was increased to 36.28 % of GDP

Economic & Financial from the previous 36.07 %. News Finance minister Eugen Teodorovici said in February that increasing the deficit to 2.76

percent of GDP was the only possible measure that would allow the government to increase child allowances, but that the deficit target for 2019 would not be exceeded. Business opportunities According to the new strategy, the budget planning was based on the revenues in 2018, the National Strategy and Prognosis Commission’s 2018-2022 prognosis, the fiscal agency’s Tourism commitment to collect more tax revenues by improving collection actions and reducing tax

evasion, current legislative provisions including VAT and excises, the impact of OUG International events 114/2018 that would increase taxes on gambling and an increase in the tobacco excise, as well as several other changes in the fiscal policy for various industries.

Facts about Romania Spending was calculated based on: the 15 percent increase in pensions from September 2019; the increase of the social compensation from pensioners from September 2018; the increase of the gross minimum wage from January 2010 to RON 2,080/month; increased

Useful contacts base salaries; distribution of holiday vouchers, etc.

Certain measures would continue to be applied in public institutions in order to limit spending, such as: extra work hours would only be compensated with time off , with only a few exceptions in some sectors; in 2019-2021, no prizes would be awarded to staff; no compensation to be awarded for retiring; no vouchers to be awarded to workers except crèche vouchers.

In the strategy, the budget revenues will reach 33.51 % of GDP in 2019, 32.23 % in 2020, Pg. 18/35 and 31.97 % in 2021, while budget spending would reach 36.28 % of GDP in 2019 and 33.98

in 2021. The budget deficit is estimated at 2.45 % of GDP in 2021.

Business Newsletter Romania-Sweden Economic & Financial News from Romania (cont.)

Romanian government planning new measures in 2019, including Table of contents higher fines for tax evasion, new insolvency procedures, new investments, reducing bureaucracy

The Romanian government has released new plans to change legislation in several areas, Facts about Romanian including drastically higher fines and penalties for Economy tax evasion and off-the-books work, changing insolvency procedures and construction laws, new Bilateral Trade investment objectives as well as financial compensation for citizens who served prison time Doing business in in improper conditions.

Romania

Fiscal/budgetary measures Economic & Financial News The government’s Annual Plan for 2019 says that the Finance Ministry would introduce a

legislative project to prevent and combat tax evasion, which would significantly increase Business opportunities penalties for evasion and working off the books. The Executive will establish the list of state companies to be part of the Sovereign Fund for

Development and Investments, as well as the National Bank for Romania’s Development, Tourism changing insolvency procedures and regulating alternative investment funds. The plan also includes a change in the law regarding mandatory auto civil liability insurance.

International events The Ministry of Regional Development and Public Administration should propose the adoption of the local public financing code.

Facts about Romania Energy, constructions, business environment, justice

The government is planning to change the law for electricity and national gas, including the Useful contacts adoption of a new mining law. In the constructions sector, the government wants to take measures to simplify bureaucracy

and avoid excessive procedures, simplify acquisition procedures, introduce simpler cost options, flat rates and standardized scales for unitary costs in national and regional norms referring to eligibility, as well as simpler procedures for construction permits.

The Justice Ministry will promote simpler access to Trade Registry services and for the institution to take over certain procedures regarding companies which are currently carried Pg. 19/35 out by courts. It will also propose the reduction of stamp duties in certain cases.

Business Newsletter Romania-Sweden Economic & Financial News from Romania (cont.)

Romanian government planning new measures in 2019, including Table of contents higher fines for tax evasion, new insolvency procedures, new investments, reducing bureaucracy

The Romanian government has released new plans to change legislation in several areas, including drastically Facts about Romanian higher fines and penalties for tax evasion and off-the-books Economy work, changing insolvency procedures and construction laws, new investment objectives as well as financial Bilateral Trade compensation for citizens who served prison time in improper conditions. Doing business in cont.

Romania Investment projects

Economic & Financial • Student housing in , Timisoara, Brasov, Bihor and Bucharest News • Sports infrastructure – skating rink in Gheorgheni; event hall in Ploiesti; Olympic Pool in Vaslui; event halls in Tulcea and Timisoara; Targoviste stadium; Slatina stadium; Lia Manoliu Business opportunities National Tennis Complex in Bucharest

• Road transport – connection between AI Arad-Timisoara motorway and DN 69, connection Tourism between Ring Road and A3 motorway, bridge over the Prut at Ungheni • Naval transport – multimodal platform at Galati – removing major blockages by upgrading

existing infrastructure and ensuring missing connections for the Rhin Danube/Alps central International events network

• Health infrastructure – consolidating, rehabilitating, upgrading, expanding and equipping Facts about Romania the Segarcea City Hospital; new building for the Calarasi County Hospital; building relocation for the Prof. Dr. Agrippa Ionescu Emergency Hospital; new building for the Alexandria County Hopsital; rehabilitation and expansion for Precista hospital in Roman, Neamt County; Useful contacts rehabilitate, upgrade and equip new building for Giurgiu Emergency Hospital; rehabilitate, upgrade and equip sections in the main building of the Valcea Emergency Hospital

• Justice infrastructure – new court units in Iasi • Education and culture – consolidating and restoring the Constanta Casino; expanding several buildings and functions for the Cluj-Napoca Music Academy; rehabilitating, upgrading

and adding new educational infrastructure to the main building of the Targu Mures Medical and Pharmacy University; rehabilitating a building of the Iasi Agricultural and Veterinary Pg. 20/35 Medicine University’s Agriculture School and the regional advanced research centre for emerging diseases and food safety; rehabilitating the central building of the National Carol I

College and Romanian Opera in Craiova.

Business Newsletter Romania-Sweden Business opportunities - Romanian Companies interested in the Swedish market Table of contents The Chamber of Commerce and Industry of Romania Contact: Mihai Daraban – President

CCIR Business Center Facts about Romanian 2 Octavian Goga Bvd., Economy Bucharest 030982, Romania Bilateral Trade Tel.: +40 21.319.00.93 The Chamber of Commerce and Industry of Fax: +40 21.319.01.56 Doing business in Email: [email protected] Romania is presenting itself as one of the Website: https://ccir.ro/en/ Romania most important forums for representing Romanian businessmen for the last 150 years. Economic & Financial News The rebirth of the Chamber System was marked, after Dec. 1989, by the Law no.

139/1990. Business opportunities The new Chambers of Commerce have been granted the status of non governmental Tourism organizations, associative to the business News: environment; they became the main pillars of International events the market economy, dominated by private The Chamber of Commerce and Industry of entrepreneurs. Romania has published the 106-th edition of Facts about Romania the InfoBulletin - Romanian business offer. The current organization is similar with the This is available to be downloaded from its system in place from 1925, with a Chamber of online version in the CCIR website at: Useful contacts Commerce in every county seat, grouped http://www.snia.ro/infoBulletin/iBno106.pdf under the Chamber of Commerce and Interested companies could have so a better Industry of Romania (CCIR). knowledge of both the Romanian business communities and the development of mutual trade relations.

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Business Newsletter Romania-Sweden Business opportunities (cont.) - Romanian Companies interested in the Swedish market Contact: Table of contents

Team:

Facts about Romanian Economy

Bilateral Trade

Doing business in Partners: Romania

Economic & Financial News

Business opportunities

Tourism

International events

Facts about Romania

Useful contacts

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Business Newsletter Romania-Sweden Business opportunities (cont.) - Romanian Companies interested in the Swedish market Contact: More info: www.devabusiness.eo Table of contents

Facts about Romanian

Economy Bilateral Trade

Doing business in Romania

Economic & Financial News

Business opportunities

Tourism

International events

Facts about Romania

Useful contacts

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Business Newsletter Romania-Sweden Business opportunities (cont.) - Romanian Companies interested in the Swedish market

Table of contents Contact: ESSENCE DE ROUMANIE Iulia MEREUTA - PR Representative 39th Victoriei Avenue, 010062, 1st District, Bucharest, Romania Tel.: +407320 24407 Facts about Romanian Website: www.elysee.eu.com facebook/Elysee Economy youtube/Elysee Bilateral Trade

Doing business in Romania

Economic & Financial News

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Tourism

International events

Facts about Romania

Useful contacts

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Business Newsletter Romania-Sweden Business opportunities (cont.) - Romanian Companies interested in the Swedish market Table of contents Contact: Valea Jelnei nr.1, Bistriţa, 20028 Romania WAWA Fresh Cosmetics web: www.wawacosmetics.com email: [email protected] Tel. mobil: +40 740093316 Facts about Romanian Economy Wawa Fresh Cosmetics was founded by Andrada Bilateral Trade Horoba, when she realized her son was allergic to chemicals from most baby skin care products. Doing business in Inspired by the founder’s love for her kids, Romania Wawa’s chemist, that has 25 years of experience, developed a range of highly effective products with no chemicals, no praraben, no synthetic Economic & Financial colorants or fragrances. News Wawa stands proudly by its natural skin care products, using organic ingredients, innovative cosmetics actives, made fresh on order. Business opportunities Catalog of Products: Tourism https://www.wawacosmetics.com/products Some products: International events -Lift Instant Face Cream -LAVANDER PARADISE - Rejuvenating Cleansing Milk Facts about Romania -ALOE VERA PARADISE -Sensitive cleansing -ROSE PARADISE -2 in 1 Cleansing and Toner Useful contacts -GREEN TEA PARADISE - Rejuvenating toner -30S LIFT INSTANT - Premium moisturizing face cream -JOJOBA PARADISE - Calming & Moisturizing Cream -VITAMINE PARADISE - Rejuvenating Night Cream -ARGAN PARADISE - Rejuvenating Serum -AHA PARADISE - Shampoo for all hair types; Creamy Shower Gels; WAWA SKIN SCRUBS; WAWA'S BUTTERS; LOTUS Pg. 25/35 PARADISE - Natural Liquid Soap -SUN KISS PARADISE - Sun Cream for face and body SPF 35+

Business Newsletter Romania-Sweden Business opportunities (cont.) - Romanian Companies interested in the Swedish market

Table of contents Contact: S.C. IRUM S.A. - ROMANIA 6 Axente Sever, 545300 Reghin, Romania Tel.: +40 365 450.001; Fax.: +40 365 450.031 E-mail: [email protected], [email protected] Website: www.irum.ro Facts about Romanian Economy SC IRUM SA production is based on more than Bilateral Trade half a century of experience. IRUM’s success is based on offering reliability and quality at an affordable price for practical, robust Doing business in and functional agricultural and forestry machines, Romania mainly tractors. IRUM is brand of the MAVIPROD group, benefits from the group’s experience and relations with PRODUCTS: Economic & Financial leading companies (Perkins, Belarus, Eaton etc.). News IRUM has over 400 employees, working in • TAF - ARTICULATED 175.000 m2 factory in Reghin. FORESTRY TRACTOR Business opportunities or skidder (used in a logging operation for IRUM is working with: pulling cut trees out of a Tourism forest); Types: TAF 690PE, TAF 2012G, TAF 2012 International events with mechanical IRUM production: EATON / Powershift gearbox Facts about Romania • CNC machining centers • Casting center • TAG - • Heat treatment line AGRICULTURAL Useful contacts • Inhouse tool shop TRACTOR • Inhouse welding shop IRUM offers an entire • Inhouse painting shop range of agricultural • Service department tractors, suited for every type of user, from 36 HP to over 200 HP

[more details in the

presentation movie: Pg. 26/35 https://www.youtube.com/w atch?v=q7alTSBb2EQ ]

Business Newsletter Romania-Sweden Business opportunities (cont.) - Romanian Companies interested in the Swedish market

Table of contents Contact: Dan MĂZĂREANU - Business Development & S.C. TEHMIN-BRASOV S.R.L. Marketing Manager Address: 47 Tudor Vladimirescu street Bod, Braşov County, Code: 507015, ROMANIA Tel: +40 733662028 E-mail: [email protected] Facts about Romanian Website: www.tehmin.ro/en Economy The S.C. TEHMIN-BRASOV S.R.L. employees have Bilateral Trade the ability to design, manufacture, repair and maintain various RAILWAY components, subassemblies and products in according with TEHMIN Products: Doing business in the customer’s requirements. - Electric installation to keep Romania The works are made in according with customer warm diesel engine; IEMC types specifications or its design team documentation - Electric and Automated Control or by copying the already used parts. and Diagnostics - TCMS (Train Control Economic & Financial Also, they manufacture licensed products of Management Systems) News collaborators ( from one item, to large series). installation for TRANS CARPATIC wagon Adding their RAILWAY field expertise, TEHMIN - TCMS (Train Control takes in consideration all the GENERAL Management Systems) Business opportunities installation for DMU (Diesel TECHNIQUE work orders only in according with Multiple Unit); A900, A700 their design and manufacturing capabilities and LVT types Tourism - LED outdoor displays - Input-Output Modules Certifications – Affiliations: - Signal Adapters TEHMIN Services: International events - TEHMIN implemented the ISO - Electric Water Heating 9001:2000 Quality Management - Passenger Coaches Design Installations System; it is certified by the TÜV CERT. & Research - Thermal Air Heating Systems Facts about Romania - The ANCS (The Romanian National - Railcars Design & Research - Electric Air Heating Systems Research Authority) accredited the - Battery Charging Units - Locomotives Design & - Driver’s Desk Module TEHMIN with the Research & Research Useful contacts Experimental Development Railway - Electric Water Heating and Expertise. - Trams Design & Research Accumulator Battery Charging - The TEHMIN is accredited by The [details: Systems Romanian Railway Authority and the http://www.tehmin.ro/en/design [details: TEHMIN products are validated by it. -research] http://www.tehmin.ro/en/products] - The TEHMIN collaborates with the Romanian “Transilvania” University in For more details see TEHMIN Catalogue – PRODUCTS & SERVICES for ROLLING Brasov City and also with railway STOCK Pg. 27/35 equipment manufacturers in Finland http://www.tehmin.ro/design/upload/pdf/product-catalogue-2017-47.pdf and Switzerland.

Business Newsletter Romania-Sweden Business opportunities (cont.) - Romanian Companies interested in the Swedish market

Table of contents Contact: Felix BLAGA - Software R&D Octavic Engineering 70/A Colinelor Str., 410156, Oradea, Bihor, Romania Tel.: +40 740 300049 E-mail: [email protected]; [email protected] Facts about Romanian Website: http://octavic.ro Economy Bilateral Trade What Octavic Engineering offers? • A complete system to optimize production • Custom hardware for collecting data Doing business in Romania Challenges faced by manufacturing Problems solved using a System for production organizations: tracking, planning and execution: - Lack of advanced data about what is happening on Economic & Financial - An integrated, modular system (Digital twin) the factory floor distributed on the factory floor News - Lack of real time feedback for the decision makers - Gather annotated data from production - Unable to reschedule the production in real time, equipment and operators Business opportunities based on the issues that appear and the deadlines -Unable to link planned and predictive maintenance - Offer feedback to the decision makers with production planning and other issues from the - Reschedule production orders based on Tourism production floor (quality, materials, etc.) deadlines and issues

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Business Newsletter Romania-Sweden Business opportunities (cont.) - Romanian Companies interested in the Swedish market

Table of contents Contact: S.C. Manherz SRL Str. Soimoseni Nr.32, 440011 Satu Mare, Romania Ph: +40-261-768081, Fax.: +40-261-768118 Email: [email protected] Web Page: http://www.manherz.ro/ Facts about Romanian Economy Bilateral Trade The company MANHERZ S.R.L. (plc) was created on Production CASTING: July 1st, 2001 and it is a 100% Romanian private Doing business in -MANHERZ can cast many type of property. aluminum Romania It is located in North-Eastern part of the town of Satu Mare, 15 km away from the Hungarian border. -The product scale is situated Economic & Financial The company has 70 employees and owns a 9800 between 0,05 to 15kg/piece News square meters surface, out of which 3200 built-in -They can use core for the casting area. -The company’s capacity is of The company`s profile is gravity chill-mould casting more then 1000 tons/ year Business opportunities and die casting.

Tourism Main CUSTOMERS: • SC Metalica SA International events • Elmotech Kft.

• SC Electrometal SA Facts about Romania • DRM Draxlmaier Romania

Sistem Electrice SRL Useful contacts • SC Europrod SRL

• BT Holding Kft.

• Qualiform Zrt. In order ensure and maintain high quality standards • Ernst Brink Gmbh, etc. and to develop these standards, it was implemented Pg. 29/35 the ISO 9001/2000 quality system, with its certification done by the TUV company.

Business Newsletter Romania-Sweden Tourism in Romania

Romanian tourism sector had a slightly higher direct Romanian Ministry Table of contents of Tourism contribution to GDP in 2018, than in 2017 in charge with the national tourism development strategy, is actively acting to promote Romania on the world touristic map.

Facts about Romanian Economy Contact: Bilateral Trade 38 Bd. Dinicu Golescu, Bucharest, Romania Tel.: +40 213037891; According to National Tourism Statistics 15,7 million domestic Fax: +40 213037893 Doing business in and foreign tourists stayed in overnight accommodations in E-mail: [email protected] Romania 2018. Of these 2.2 million are recorded as foreign tourists. www.turism.gov.ro; www.romania.travel

Romania’s tourism sector had a direct contribution of EUR Economic & Financial 5.21 billion to the Gross Domestic Product (GDP) in 2018, To know more, News slightly higher than in 2017, placing Romania on the 32nd *use “Explore Romania - Official App” (Apple iOS and Android) – place in the world, ahead of Slovakia and Bulgaria, but behind an interactive guide Business opportunities and the Czech Republic. of Romania's main The tourism sector’s total contribution to Romania’s economy, tourist attractions which also takes into account the investments and spending http://explore-romania.eventya.net/ Tourism determined by this sector, was some EUR 15.3 billion in 2018, up by 8.4% compared to 2017. *follow the portal http://newsturism.ro/ - created to connect providers of International events In the first three months of the year 2018, there were 3.12 millions of foreign tourists. Compared to the same 3 tourism-related events with the public, months of the previous year, arrivals increased by 10.9% Facts about Romania and overnight stays in accommodation establishments *open: http://turism.gov.ro/web/wp- increased by 7.1%. content/uploads/2017/06/Brosura_MT_engleza. pdf, etc. ... Useful contacts The most visited cities are Bucharest, Brașov, Sibiu, Cluj- Napoca, Timișoara, Iași and Constanța. Natural touristic attractions include the Danube, the , and the Black Sea.

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Business Newsletter Romania-Sweden International Fairs & Exhibitions in Romania

Table of contents 2019

https://www. romexpo.ro/ wp- content/uplo ads/2018/12/ Facts about Romanian PROGRAM- EXPO- Economy 2019_ENG- Bilateral Trade 3.pdf * Please follow the Doing business in link: The Schedule Romania of 2019 Exhibitions Organized Economic & Financial by ROMEXPO News is constantly updated! Business opportunities

Tourism

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Facts about Romania

Useful contacts

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Business Newsletter Romania-Sweden International Fairs & Exhibitions in Romania (cont.)

Table of contents 2019

https://www. romexpo.ro/ wp- content/uplo ads/2019/01/ Facts about Romanian PROGRAM- EXPO- Economy 2019_ENG- Bilateral Trade Terti.pdf * Please follow the Doing business in link: The Romania Schedule of Hosted Exhibitions is Economic & Financial constantly News updated!

Business opportunities

Tourism

International events

Facts about Romania

Useful contacts

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Business Newsletter Romania-Sweden International Fairs & Exhibitions in Romania (cont.)

Table of contents More details regarding the event on its website: https://techsylvania.com/ Facts about Romanian If interested, REGISTER: Economy Bilateral Trade https://techsylvania.com/ Techsylvania conference-tickets/ Doing business in 8-11 June 2019, Cluj-Napoca, Romania (special tax for early birds!) Romania

Economic & Financial News Techsylvania is one of the IT events already well known in Eastern Europe. Business opportunities Over 3,000 engineers, founders, investors, executives and CEOs of IT & digital companies, representatives of banks and Tourism pioneers of growing startups from all over the world meet at Techsylvania in Cluj-Napoca, for inspiration and networking. International events

Facts about Romania Techsylvania – sets the future of technology, business and the know- how of global leaders under the spotlight. Useful contacts Here the attendees will be empowered through more than 70 keynotes, panels, workshops, satellite events, executive roundtables and Q&A sessions. At this leading technology event in Eastern Europe will be explored visionary ideas, ground breaking projects and the changing markets.

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Business Newsletter Romania-Sweden Facts about Romania

Location, geography and climate Table of contents Romania is situated in the southeastern part of Central Europe,

on the shores of Black Sea, extending approximately 300 miles north to south and 400 miles east to west. Romania’s territory Facts about Romanian features mountains, hills, plains and numerous rivers and lakes. Economy Forests cover one quarter of the country and the fauna is one of Bilateral Trade the richest in Europe (including bears, deer, lynx, chamois, wolves). The Danube River ends its eight-country journey at the Black Sea, after forming one of the largest and most Doing business in bio-diverse wetlands in the world, the Danube Delta. Romania is an all round year Romania destination, having a temperate climate with four distinct seasons.

Economic & Financial News Politics and economy Romania is a parliamentary democracy based on European models and a member state Business opportunities of the EU and the NATO. In the 1930s, Romania was one of the main European producers of wheat, corn and Tourism meats and it used to be called “the bread basket of Europe.”

International events In the 1950s started the development of the heavy industry. Today, Romania produces coal, natural gas, iron ore and petroleum. Industries include Facts about Romania chemical (petrochemical, paints and varnishes), metal processing, machine manufacturing, information technology, industrial and transport equipment, textiles, Useful contacts manufactured consumer goods, lumbering and furniture. About 39.2% of Romania’s territory is arable land, 28% forests, 21% pastures, hayfields and orchards and 2.5% vineyards. Corn, wheat, vegetable oil seeds, vegetables, apples and grapes for wine are the main crops and sheep and pigs the main livestock. Forestry and fisheries are also developed.

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More info on: www.romania.travel, the Official Tourism Site of Romania

Business Newsletter Romania-Sweden Useful contacts

Table of contents Presidency of Romania www.presidency.ro

Government of Romania www.gov.ro

Facts about Romanian Parliament of Romania www.parlament.ro Economy Ministry for Business Environment, Commerce and Entrepreneurship Bilateral Trade www.antreprenoriat.gov.ro

Doing business in Foreign Direct Investment Department www.investromania.gov.ro Romania Ministry of Foreign Affairs www.mae.ro

National Bank of Romania www.bnr.ro Economic & Financial News National Institute of Statistics www.insse.ro National Trade Register Office www.onrc.ro Business opportunities Customs National Authority www.customs.ro Tourism Official Journal of Romania www.monitoruloficial.ro Chamber of Commerce and Industry of Romania www.ccir.ro International events Official Tourism Site of Romania www.romania.travel

Facts about Romania National Weather Administration www.meteoromania.ro Bucharest Henri Coanda International Airport www.bucharestairports.ro Useful contacts Port of Constanta www.portofconstantza.com

Embassy of Romania in Stockholm http://stockholm.mae.ro/en Department of International Trade www.dce.gov.ro

Trade Office of Romania in Sweden (email: [email protected])

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