More Czech Investors Interested in Romania

Cooperation between Romania and the Czech Republic has intensified over the past few years, between institutions, as well as governments, according to Miroslav Vlcek, Speaker of the Chamber of Deputies of the Czech Republic. "I am a politician first of all, but I am an economist by profession. I believe that now it is indispensible that we put Czech - Romanian cooperation in a broader frame. Our bilateral relations are very good, but, for the future, the key is our countries membership of the European Union and NATO," he told Bursa. According to him, cooperation has intensified particularly between the two countries" Ministries of Defense, Environment, Education, Agriculture, Interior and Justice. The Czech dignitary was accompanied to Bucharest by a numerous delegation of Czech entrepreneurs attending the Bucharest International Fair (TIB), which they consider to be one of the most important in the region."The Czech investors" interest in the Romanian market has increased substantially over the past 4-5 years. They have realized that focusing on western markets is not enough and that the Southeastern European markets are very attractive for expansion. I support them in this respect, not only as far as Romania is concerned, but also the other countries in the Region. It is important that companies in the Czech Republic can gain ground in new businesses, modern fields of business. This edition of the TIB is attended by 24 Czech exhibitors in the official Czech area as well as other 9 exhibitors outside the official delegation," Vlcek said. Czech companies operating in Romania reported an aggregate turnover of 1.5 billion EUR in 2007, up by nearly 18% year-on-year. Czech exports to Romania exceeded 1.14 billion EUR, while imports from Romania stood at 391 million EUR. Preliminary data for the first half of this year point to an overall trade volume of 982 million EUR. Czech exports to Romania exceed those to Hungary, Turkey or Greece.

"I would like to emphasize that trade between Romania and the Czech Republic has been significantly stimulated by the development of Czech investments in Romania," Vlcek added. "Capital export from the Czech Republic to Romania is having a direct impact on competitiveness and turnover on the local market, as well as a positive influence on the potential to deliver Czech products and services. I would like to mention some of the leading Czech investors in Romania, such as CEZ, Zentiva, PPF Investments. The investments made by CEZ and Zentiva amount to nearly 600 million EUR. There are also other important investors looking to develop business in Romania, such as Skoda Electric and Skoda Transportation. Others are planning to enter the construction sector or the railway construction business such as PSG, Eltodo Subterra or Metrostov. DHI, Dekonta Hydropol and Hydro Projekt could invest in waste water recovery stations and garbage management," Vlcek added. According to him 369 Czech-controlled companies had been established in Romania by 31 October 2007.