President Klaus Iohannis considers that Romania has a set of competitive advantages to offer, but cautions against bureaucracy, overregulation and lack of predictability possibly denting the country's competitive edge.
"Currently, within a framework of macroeconomic stability, Romania is an EU economic growth champion with a growth rate of 5.2 percent in H1. We also remark the economic confidence Romania enjoys, which is visible also in the 19 percent increase in FDI in the first eight months of the year. Hence the favorable projections of average annual increases of about 3.7 percent in the next five years, according to the latest IMF data. Romania's favorable position is also confirmed by the important advantages it offers entrepreneurs. The 16 percent flat tax renders Romania competitive in terms of taxation, but we must also make sure that bureaucracy, overregulation and the lack of predictability don't dent our competitive edge. Therefore, we need to speed up the streamlining of bureaucracy, increase transparency and enhance the quality of public administration," reads the message delivered on Wednesday, on the President's behalf, by presidential advisor Cosmin Marinescu at the conference "A New Strategy for Internationalization. Confindustria in the Balkans and in Eastern Europe. Challenges, Opportunities and Perspectives."
President Iohannis considers that it is important that support and incentives to SMEs, to the domestic and foreign capital are among Romania's top priorities.
"The SMEs are the backbone of a healthy market economy, offering stability and prosperity. In this context, increasing economic freedom must also be a priority, because a free economy is the essential ingredient of prosperity," reads the President's message, emphasizing also that the economic freedom indicator reflects an upward trend in recent years for Romania's score, placing it 22nd in the world.
According to the President, this progress needs to be continued by reforms and sound economic policies.
"From this point of view, the two dimensions, that of entrepreneurship and economic freedom, are complementary and support each other. I want a Romania of economic freedom, where work, intelligence, creativity and entrepreneurial courage are cherished and fairly rewarded. It is also important to strengthen the link between education and the labor market, between school and real life. The implementation in Romania, in the next period, of the dual education system allowing companies to contribute together with the Romanian state to better honing the competences required by the labor market, is yet another positive move," added Iohannis.
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