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British Romanian Chamber of Commerce DOING BUSINESS IN ROMANIA ANNE-MARIE MARTIN, CHIEF EXECUTIVE...
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Transcript of British Romanian Chamber of Commerce DOING BUSINESS IN ROMANIA ANNE-MARIE MARTIN, CHIEF EXECUTIVE...
British Romanian Chamber of Commerce
DOING BUSINESS IN ROMANIA
ANNE-MARIE MARTIN, CHIEF EXECUTIVE OFFICER, BRITISH ROMANIAN CHAMBER OF COMMERCE
DOING BUSINESS WITH THE NEW EUROPEANSBULGARIA & ROMANIA
EMITA SEMINAR
WEDNESDAY 31ST MAY 2006GRANTHAM MARRIOTT HOTEL
BUSINESS CLIMATE
PREPARATION FOR EU ACCESSION POLITICAL & ECONOMIC STABILITY PREDICTABILITY STIMULATION STANDARDISATION QUALITY ASSURANCE TRANSPARENCY FINANCIAL ASSISTANCE IMAGE
MARKET OPPORTUNITIES
SIGNIFICANT INTERNAL MARKET SIGNIFICANT NEIGHBOURING MARKETS CENTRAL EXPORT BASE
ALL SECTORS:
FINANCIAL & LEGAL SERVICESCONSTRUCTIONAGRICULTURE HEALTHCAREPOWERGEN, OIL & GAS FOOD & DRINKENVIRONMENT CREATIVE INDUSTRIESFILM & CULTURAL HERITAGE AIRPORTSENGINEERING EDUCATION & TRAININGSECURITY (INTERNAL & BORDER)
FACTS & FIGURESBilateral Trade 2005
EXCEEDED 2.6 BN USD
2000 UK CO’S REGISTERED IN ROMANIA
APPROX 5000 BRITISH NATIONALS RESIDENT IN ROMANIA
UK EXPORT TO ROMANIA – SOLID GROWTH
£644M – UP 6% FROM 2004 – TEXTILES, PHARMACEUTICALS, ROAD VEHICLES, TELECOMS
RO EXPORT TO UK – STEADY GROWTH
£775M – DOWN 2% FROM 2004 – TEXTILES/ CLOTHING, ELECTRICAL MACHINERY, POWER GENERATION EQT
FACTS & FIGURESExport-Import 2005
OVER 3.5BN EUROS, INCREASED INTEREST
ELECTRONICS IT AGRICULTURE INFRASTRUCTURE AEROSPACE FINANCIAL SERVICES TEXTILES TELECOMS PROPERTY
FACTS & FIGURESUK FDI 2005
FINANCE
Real GDP Growth – 5.7% pa 2001-2005 Unemployment – 5.9% Inflation 8.6% & forecast 6.5% 2006 to 3% by end
2007 Relatively low taxation
Flat corporate & personal tax 16%VAT 19%Dividend tax 10%Social security 49.5% & 39.5% by end 20080% import duties for most EU origin goods
(associate at present)
EU FUNDING
POST ACCESSION 2007-2013 - 30 BN EUROS
SECTORS: INFRASTRUCTURE ECONOMIC COMPETITIVENESS HUMAN RESOURCE DEVELOPMENT ADMINISTRATIVE CAPABILITY OF ROMANIAN
AUTHORITY RURAL DEVELOPMENT/ AGRICULTURE
RIGHTS FOR INVESTORS
ALL SECTORS FREEDOM OF MANAGEMENT WITH
FULL OWNERSHIP RIGHTS FULL REPATRIATION OF CAPITAL &
PROFITS PROTECTION AGAINST
EXPROPRIATION & NATIONALISATION NATIONAL TREATMENT FOR ALL
INCENTIVES FOR FDI GENERAL REDUCTION LEADING TO
ACCESSION & LIMITED THEREAFTER FREE TRADE ZONES DISADVANTAGED AREA INCENTIVES ACCELERATED TAX DEPRECIATION FOR
CERTAIN INVESTMENT AREAS SUPPORT FOR SME’S EU PRE-ACCESSION FUNDING RESPONSIBLE & SOCIAL RESPONSIBILITY
SET UP
LIMITED LIABILITY COMPANY IS RECOMMENDED
100% FOREIGN SHAREHOLDING PERMITTED
FORMALITIES – 4-6 WEEKS AGENTS & DISTRIBUTORS ALWAYS SEEK PROFESSIONAL ADVICE
ROMANIA’S BIGGEST ASSET
HER PEOPLE HIGH LEVEL OF EDUCATION TECHNICAL ABILITY IT SPECIALISM STRONG LANGUAGE SKILLS ATTITUDE – POSITIVE & PROUD,
ENTREPRENEURIAL SPIRIT, ENTHUSIASTIC & HARD WORKING
HELP & SUPPORT
BRCC & OTHER BILATERAL TRADE ORGANISATIONS ARIS FIC RCCI & REGIONAL CHAMBERS EMPLOYERS’ FEDERATION AGENCY FOR SME’S BRITISH EMBASSY ROMANIAN EMBASSY PROFESSIONAL SERVICE PROVIDERS &
CONSULTANTS
BRCC CONTACT POINTSLONDON HQ ROMANIA BRANCH
P O Box 367, 13 Inca Drive, London SE9 2WQ
United KingdomTel: +44 (0) 20-8850 3344Fax: +44 (0) 20-8859 2685
Email: [email protected] or [email protected]
Str. Copilului Nr. 16 (Medicare Building)
012178 Bucharest, RomaniaTel/Fax: +40 (0)21 2226495
E-mail: [email protected]
VISIT OUR WEBSITE - WWW.BRCC-CCBR.ORG
