Italian investors of Arad, affected by the economic crisis

In a discussion with the Italian Ambassador in Bucharest, representatives of the 1,800 Italian investors of the county of Arad said that their businesses are affected by the current economic turmoil. His Excellency Mario Cospito, the Italian ambassador in Bucharest, said that Italian investors have the same problem as the Romanian businessmen: the economic crisis. Italian businessmen have asked the ambassador to intercede in favor of better lending terms for small and medium enterprises or of the introduction of a moratorium for debts of entrepreneurs which are facing financial difficulties, such as the option to postpone the payment of debts towards the state.

In a meeting with Arad officials, the Italian ambassador said that he encourages Italian businessmen to invest in Arad. "The area has potential, especially for the agro-industrial segment. Infrastructure modernization is another sector with a lot of potential, like in the case of Astaldi, which is working now on the construction of the Arad - Timişoara highway segment. Technology and airports could also be of interest to investors", said Mario Cospito. He said that Italy is the largest buyer of Romanian products and ranks second among countries exporting to Romania.

During his visit in Arad, his Excellency Mario Cospito was accompanied by a delegation which included the head of the Italian-Romanian Chamber of Trade, Guglielmo Frinzi, Italy"s General Consul in Timişoara, Manilo Giuffrida, and the Consular Correspondent for Arad, Roberto Sperandio. Talks with Arad officials, including Mayor Gheorghe Falcă, the chairman of the Arad County Council, Nicolae Ioţcu and the prefect Călin Bibarţ revolved around sectors such as agriculture, infrastructure and transport connections between the Western region of Romania and Italy. "There are over 28,000 Italian companies operating in Romania, with Germany coming in second place with 18,000 companies", His Excellency Mario Cospito said.

The Italian delegation and the authorities of Arad have scheduled several business fairs intended to present the opportunities that Arad has to offer Italian investors.