Băsescu proposes Czech investors to access European funds by investing in Romania

C.D.

On the last day of his official visit to the Czech Republic, chairman Traian Băsescu suggested Czech investors access European funds by investing in Romanian tourism and agriculture.

He said that Romania has a large chunk of funds from the European Union, but lacks the ability to absorb them.

According to Agerpres, the head of state said: "We have an extraordinary source of funding - namely the money of the European Union - in these times of crisis, but we lack the ability to manage that money".

Băsescu said that Romania has EUR 32 billion available for infrastructure, environmental, SME, education and professional reconversion projects, of which it spent less than EUR 500 million.

The head of state explained: "In order to cofinance these projects, the government has to spend EUR 22 billion to be able to use those EUR 32 billion. This means that Romania has EUR 54 billion to spend on various projects by 2013. I"m making this call to you as well, being European investors yourselves, given Romania"s low ability in attracting European funds, to get involved in Romania"s current projects and in accessing the European funds".

The Romanian head of state suggested tourism and agriculture as the best investment alternatives for Czech businesspeople.

Traian Băsescu emphasized that Romania could produce enough food to sustain 80 million people, but in spite of this economic potential, 70% of the food that Romanians consume is imported.

The Romanian president said: "Romania lacks a competitive food industry which can process the output of its agriculture. Developing food processing SMEs could be extremely interesting for Czech investors. Romania currently exports subsidized farming products, it"s practically stealing from itself".

The president added that rural tourism could also be an area of interest for Czech investors, "because Romania offers outstanding conditions, but it lacks the ability to attract tourists".

On the subject of the banking system, the head of state assured Czech investors that Romanian banks have enough liquidity, it"s just that it is not yet readily available for businesses.

When asked by a representative of the Romanian community of the Czech Republic if he intends to run for president again, Băsescu replied: "I have not reached a decision yet. I honestly haven"t. I won"t know before October-November".