BR/09/2020 by Business Review

ROMANIAN RESIDENTIAL MARKET SHOWING RESILIENCE TO THE COVID-19 CRISIS

September, 2020 / Volume 24, Issue 8

www.business-review.eu

TECH SCALEUP ECOSYSTEM: ROMANIA VERSUS POLAND

EV REVOLUTION CHARGING LOCAL STARTUP SECTOR

HOW TO BOOST CREATIVITY AND PRODUCTIVITY IN THE ERA OF REMOTE WORKING 30

BETTING ON SAFE AND RESPONSIBLE GAMBLING

www.business-review.eu Business Review | September 2020

EDITORIAL 3 REAL ESTATE

• Editorial •

Anda Sebesi

6 Romanian residential

• Editor-in-Chief •

market showing resilience to the COVID-19 crisis

COVER STORY

Betting on the new normal

ix months have passed since Romania imposed a state of emergency on March 16, 2020, a moment that triggered for

8 Betting on safe and responsible gambling

HUMAN RESOURCES

a series of profound changes in the business environment.

Many new trends have emerged and are influencing the way we work, communicate, and grow. Companies have been forced to adapt to the new normal in all aspects of business: strategy, costs, communication with clients, employees, and other stakeholders. The current pandemic has hit many industries both in Romania

19 The future belongs to those who will be able to adapt to different contexts

and worldwide, from HoReCa and tourism to automotive, event organisers, and the gambling industry. In fact, it has caused a fiveyear setback for the Romanian gambling industry, according to the most recent available data from the National Institute of Statistics (INS). Gambling operators in Romania experienced one of the

ENTREPRENEURSHIP 24 Local startups looking to

most severe declines of the last 30 years between March and May

bridge gap between tech and agriculture

this year. At the same time, the pandemic has also brought some

26 EV revolution charging

opportunities to the market, especially for online casinos, which

local startup sector

did well both when physical casinos were closed and, after the lockdown was lifted, while the latter were still struggling to deal with various restrictions. As in many other sectors, technology is making its mark on this industry too. Plus, the new context has forced many companies – regardless of their field – to accelerate

CITY 34 The music must go:

the adoption of new technologies and the digitalization process.

George Enescu International Competition goes online

Hence, the implementation of AI, VR, AR, blockchain or other

36 Romania’s first Art

innovative technologies in all areas of the business, from the gam-

Nouveau Museum opens in Oradea

bling experience to client communication and transaction security, are trends that the gambling industry is expected to follow in the future. After all, despite the fact that we’re all going through difficult times, there are still new business opportunities that can be explored as we look forward to better times.

37 Spectacular accommodation in Romania for a perfect gateway

38 Cultural calendar

EDITOR-IN-CHIEF: Anda Sebesi JOURNALISTS: Aurel Constantin, Mihai Cristea, Romanita Oprea, Oana Vasiliu CONTRIBUTORS: Ovidiu Posirca, Sorin Melenciuc, Claudiu Vrinceanu COPY EDITOR: Anca Alexe PHOTO EDITOR: Mihai Constantineanu PHOTOS: Dreamstime ART DIRECTOR: Raluca Dumitru PUBLISHER: Bloc-Notes Media Network ADDRESS: 58 Stirbei Voda Street, 3rd Floor, District 1, Bucharest, Romania LANDLINE: 031.040.09.31 SALES MANAGERS: Radu Fireteanu, Alexandra Rosca EVENTS MANAGERS: Mara Dragoiu EVENTS & MARKETING MANAGER: Luiza Luca PRODUCTION: Dan Mitroi DISTRIBUTION: Eugen Musat EXECUTIVE DIRECTOR: George Moise GENERAL MANAGER: Catalin Alistari USA MANAGER: Oana Molodoi FOUNDING EDITOR: Bill Avery EMAILS: editorial@business-review.eu, sales@business-review.eu, events@business-review.eu SUBSCRIPTIONS on Manpres Distribution Business Review is a member of Fwei

Publicație auditată pe perioada Apr 2015 - Mar 2016

ISSN NO. 1453-729X

www.business-review.eu Business Review | September 2020

4 NEWS

WHO’S NEWS BR welcomes information for Who’s News. Submissions may be edited for length and clarity. Get in touch at mihai.cristea@business-review.eu

Romania to experience fastest recovery of car sales in Central Europe following 2020 decline By Mihai Cristea most affected by the COVID-19 pandemic, with closed factories and a collapse of sales during the lockdown, is starting to slowly recover from one month to the next. But returning to 2019 volumes and exceeding them will be a long journey, as

Agnieszka Błas is the new Managing Director of DHL Express Romania. She will be responsible for over 500 employees, providing services for nearly 6,000 account customers, across 25 facilities in Romania. Agnieszka previously held management board positions at DHL Express Poland, having acted as Senior Director of Operations in the last 8 years. She joined the DHL team in 2001 and has a vast experience in operational infrastructure and customs services.

consumers regain confidence to spend. The good news is that the forecasts for Romania are among the most optimistic, compared to the rest of the Central European markets, amid the two local manufacturers’ plans to add new hybrid

Returning to 2019 volumes and exceeding them will be a long journey

page 5

Partner and Leader for the automotive industry at PwC Ro-

Romania could record the larg-

the PwC network at the European

mania. The smallest decrease

est drop in sales of new cars

level, based on IHS Markit data.

is to be recorded by Hungary,

and light commercial vehicles

Jennifer Austin has joined the ROCA X team as a Senior Investment Partner. She has spent the past 7 years actively contributing to the development of the startup ecosystem in Romania, through investing, accelerating startups, supporting investors, and other activities. Jennifer will support the establishment of a permanent ROCA X presence in Cluj-Napoca, the second largest IT hub in Romania. Consequently, ROCA X will expand and materialise its presence in the Transylvania region.

models,” said Daniel Anghel,

Estimates for the new cars and

with -19.6 percent, followed by

(LCV) in Central Europe this

light commercial vehicles market

Slovakia with -21.4 percent, and

year, of 24.3 percent compared

in Romania show a decrease from

the Czech Republic with -21.6

to 2019, but it will have a rapid

181,000 units in 2019 to 137,000

percent. Of these markets, only

recovery exceeding the pre-

units this year and, subsequently,

Slovakia will recover this year’s

COVID crisis volume thres-

an increase to 223,000 units

losses, and in 2023 car sales

hold by 2023, according to the

in 2023. “The car market, one

will exceed the level recorded

Autofacts report published by

of the sectors that have been

in 2019.

Local technical consumer goods market increased by 5.2 percent in Q2 By Mihai Cristea According to data audited by GfK

to the same period of 2019 and it

Romania, the Romanian Techni-

was determined by the growth

cal Consumer Goods market con-

of the IT, office equipment and

tinued its growth in the second

small appliances segments. In

quarter of 2020. Sales value in-

the context of the COVID-19

creased by 5.2 percent compared

crisis, on the global consumer

The COVID-19 crisis also generated a decrease in the consumer confidence index

www.business-review.eu Business Review | September 2020

NEWS 5

Discovery Media launches local advertising sales for HGTV channel Arman Sutbayev was appointed Market Director for Romania at Mars. Sutbayev is joining Mars Romania from the position of Market Director East CEAB & Turkey Mars Wrigley Confectionary. In his new role, he will lead the biggest market from Multisales Central Europe unit, which besides Romania also includes Czech Republic, Hungary, and Slovakia. Arman Sutbayev is an experienced professional with over 16 years in sales and marketing. He joined Mars in 2014 as Kazakhstan Wrigley Sales Director.

By Mihai Cristea Discovery Media, the advertising department of Discovery Romania, has announced the launch of local advertising sales for its Home and Garden TV (HGTV) station. The channel entered the global Discovery portfolio two years ago, with the acquisition of Scripps, and the first interaction with Romanian viewers took place in May last year, when the HGTV block was launched on the TLC grid. HGTV aims to enrich the

HGTV aims to enrich the content pipeline through 5 key pillars

content pipeline through 5 key pillars: buying and sell-

home and garden is very popular

own homes. HGTV provides the

ing, home renovation, house

and valued locally. Viewers’

type of content that helps you

flipping, home building, and

high interest in programming

escape from everyday life, to a

dream homes, with shows such

focused on interior design and

pleasant feeling of ‘home’.

as Flip or Flop, Good Bones,

home buying, as well as the need

So we bring to the local market

House Hunters, Fixer Upper,

for diversity within the local

some very relevant content for

and My Lottery Dream Home.

advertising market convinced us

advertising customers, giving

“HGTV shows were highly

that it was a good time to expand

them the chance to interact

appreciated by a large number

the Discovery Media portfolio,

with a premium audience, in

of viewers when the channel

especially in the context of the

a way that is adapted to the

was launched in Romania in

pandemic, when we know that

current needs of consumers,”

January this year, confirming

people needed to escape to safe

said Iulia Popa, Senior Sales

that this type of content about

spaces, from the comfort of their

Manager at Discovery Media.

Adrian Ariciu will take over as METRO Cash & Carry Romania’s new CEO, starting with October 1, 2020. Ariciu has been with the METRO group, both locally and internationally, for the past 20 years. He started his career at METRO Cash & Carry Romania in 2000 as a buyer in the food department. Internationally, he was part of METRO Cash & Carry Ukraine (2013-2017) and Russia (2018-2020).

goods market, the three sectors mentioned above were the only ones to see higher sales in the second quarter of 2020. The COVID-19 crisis also generated a decrease in the consumer confidence index, with the European average in June 2020 reaching a value of -15.6, decreasing from -7, the value recorded in December 2019. On the Romanian market, the IT and Office Equipment sectors increased by 67.9 percent and 75.7 percent respectively in April-June 2020 compared to the same period of 2019.

Matei Dumitrescu has also been appointed as a Senior Investment Partner at ROCA X. A business angel with 20 years of entrepreneurial experience, he is also Vice President of Tech Angels and founder of the micro VC Smart Impact Capital. His investment expertise is international and in 2018 he was selected as Investor of the Year at the Central European Startup Awards.

www.business-review.eu Business Review | September 2020

6 REAL ESTATE

Romanian residential market showing resilience to the COVID-19 crisis New housing has become more expensive in European countries over the last few years, including in 2019. Among the 23 countries participating in the Deloitte Property Index Study, 20 showed growth in prices of new dwellings and only three of them saw a price drop. Romania was among the former, with a price increase of 8.1 percent in the first quarter of the year. By Aurel Constantin extension to the law regarding the 5 percent VAT rate to the sales of dwellings, which is yet to be enforced,” said Alexandra Smedoiu, Partner at Deloitte Romania and Real Estate Industry Leader. The biggest price increase on the residential market was recorded in Luxemburg, a country that participated in the Deloitte Property Index Study for the first time, with an advance of about 13 percent in 2019 compared to the previous year, followed by France (+12.6 percent) and Spain (+12.4 percent). Serbia is on the opposite side, with a 7.4 percent drop in housing prices over the same period. Among Central and Eastern European countries (CEE), dwellings in Hungary (+11.5 percent), Slovakia (+11 percent) and Poland (+9.7 percent) recorded the largest price increases on the residential market. In the CEE, in countries such as Slovakia, Croatia, Poland, Hungary, and Serbia, prices ranged from 1,000 EUR/sqm to 2,000 EUR/ sqm. In this region, only prices in the Czech Republic exceeded the threshold, reaching H Eliade 9 Residence project in Bucharest

2,602 EUR/sqm, especially due to Prague’s high share of the national average. In 2019, Paris was the most expensive city

xperts in the residential real estate

tract, the accommodative monetary policy of

in terms of transaction prices of new dwell-

market expected the growth trend to

the European Central Bank and of other cen-

ings, with 12,863 EUR/sqm, in a slight decline

continue in 2020, but they became

tral banks in the European Union aim to keep

(0.4 percent) compared to 2018. By compari-

less optimistic in the context of the COVID-19

interest rates at low levels and, indirectly, to

son, a square meter of a new dwelling in the

pandemic. In almost half of participating

be supportive of the housing market. In Ro-

city of Nis (Serbia) cost only 790 EUR and

countries, the residential market is expected

mania, house prices rose by 8.1 percent in the

was the cheapest among the examined cities

to stagnate this year in terms of price, with

first quarter of 2020 compared to the same

in 2019. The average price across all the 67

experts in only six countries having positive

quarter of the previous year, according to

examined cities was of 3,758 EUR/sqm.

expectations. “The residential market is usu-

Eurostat data. By the end of the year, we are

ally sensitive to macroeconomic conditions,

expecting this trend to continue, supported

THE IMPACT OF COVID-19

but also to the supply-demand ratio. Even

by the legislative changes considered for the

The impact of the pandemic on the Romanian

if the European economy is forecast to con-

First Home programme and the announced

residential market will be different for each

www.business-review.eu Business Review | September May 2016 2020

COVER REALSTORY ESTATE14 7

category of buyers, correlated with the sale

dastre and Land Registration were with new

housing deliveries, an increase in the number

price of properties, according to a study by

units, while for Ilfov new sales accounted for

of closed transactions and prices with a

JLL Romania. The most affected segment will

90 percent of total transactions. This repre-

positive evolution, according to a report

be the one that addresses buyers interested

sents a 7 percent decrease when compared to

by real estate consultancy SVN Romania.

in properties with prices below 1,300 EUR/

the first half of 2019.

Cluj-Napoca, Sibiu, and Oradea, the three

sqm. This category represents the largest

Overall, the new supply in 2020 will be

biggest regional residential markets in Tran-

part of the offer of new homes in Bucharest,

less than 10 percent below the 2019 level,

sylvania, registered in 2019 new absolute

respectively 64 percent of the total.

reaching approximately 12,900 units with po-

delivery records, according to SVN Romania’s

tential delays in construction. However, the

calculation based on data from the National

measures such as the New Home programme

number of newly supplied apartments could

Institute of Statistics (INS).

or the reduced VAT rate will continue to

fall by up to 50 percent in 2021, reaching ap-

support market dynamics in these times of

proximately 6,500 units, and might continue

regional residential market from Romania,

uncertainty. “Increasing the unemployment

the downward trend over the next 2 years.

after the Bucharest – Ilfov region. 7,557 new

rate will mainly affect this market segment.

Therefore, the effects of the current crisis will

homes were delivered in 2019 in the city and

Under these conditions, government

Cluj-Napoca remained the most important

One of the short-term effects will be a

its surroundings, up 6 percent compared

decrease in the eligibility of potential

to previous year, thus setting a new re-

buyers in this category, for whom it will

cord. Over 55 percent of them were part

be more difficult to qualify for mort-

of residential projects located within the

gage loans. Transaction levels for this

city’s administrative limits.

segment might see a sharp reduction, at

Sibiu, the second residential market

least in the medium term, and therefore

in Transylvania and the fifth at the na-

sale prices will follow the same trend,”

tional level, with overall home deliveries

says Andreea Hamza, Senior Director of

in the last 13 years which are higher than

the Living Department at JLL Romania.

the levels registered in Iasi or Brasov, also recorded new records in 2019.

The middle-upper segment which

SVN Romania’s calculations show that

represents approximately 30 percent of the total number of units on the market

almost 2,700 dwellings were delivered

and have prices between 1,300 EUR/sqm

last year in the city and its surroundings,

and 2,000 EUR/sqm will be moderately

up 18.2 percent compared to previous

affected as buyers from this category

year. The number of closed transactions

presumably have more stable incomes and are more resilient to market down-

in Sibiu in the first seven months from

turns. Nevertheless, the small investors

2020 increased by 24.5 percent com-

looking for buy-to-rent opportunities suitable

be clearer in the longer term, when we will

for short-term accommodation will step

be able to evaluate its impact on the projects

back from this market in the medium term.

currently in the planning phase.

Moreover, the presence of opportunistic buy-

In the medium term, we expect devel-

ers will increase as they will be more actively

opers to be more cautious and opt for the

looking for distressed acquisitions.

breakdown of projects into a larger number

pared with the first seven months of 2019. The most spectacular evolution was seen in Oradea, where the level of housing units delivered in 2019 almost doubled compared to the previous year, to 2,161 new homes. The doubling in the number of new con-

of phases in order to limit exposure to market

structed homes came in a context in which

approximately 6 percent of the total number

fluctuations and keep their flexibility in

Oradea has been registering good economic

of units on the market with prices above

terms of adjusting their product to potential

results for several years now, on both the

2,000 EUR/sqm, will be the least affected, as

changes in demand.

industrial and tourism segments, while the

The high-end segment, which represents

it has proven to be the most resilient segment

The future residential supply might be

capital inflows from emigrated locals have

in previous periods of distress. Specialists

increased to some extent by the new trend

don’t foresee a change in potential buyers’

of reconverting previously planned office

appetite for luxury residential properties, so

developments into mixed-use projects with a

only two other cities in Transylvania with

demand is expected to remain stable.

residential component.

500 to 1,000 new homes delivered annually.

remained high. Alba Iulia and Targu Mures represent the

Alba Iulia experienced the most significant

The level of new unit transactions in H1

development in 2019, with an 85 percent in-

and 3,000 units for Ilfov, assuming that 60

TRANSYLVANIA RESIDENTIAL MARKET SETS NEW RECORDS

percent of Bucharest transactions officially

At the national level, the residential market

new local record.

registered by the National Agency for Ca-

in Transylvania is settings new records in

2020 was around 8,000 units for Bucharest

crease in the number of new homes, setting a

8 COVER STORY

BETTING ON SAFE AND RESPONSIBLE GAMBLING By Anda Sebesi

With the local gambling market being hit hard by the measures taken by local authorities to limit the spread of the coronavirus outbreak, gambling operators are ready to restart their businesses and try to recover after this difficult period. While the current context is not as favourable as the period before the pandemic, things are moving in the right direction. Business Review sat down with Attila “Otto” Török, Game World Romania strategy director, to talk about how the company approached the local market and how it has been dealing so far with the challenges imposed by the new normal. To sum it up: a strong market position and a continuous push for responsible gambling have allowed Game World to become a sustainable business.

www.business-review.eu Business Review | September 2020

COVER STORY 9

When did Game World make its entrance on the Romanian market and what was the environment like back then? Game World has been operating in Europe since 1995. The group entered the local market in September 1999, through an investment that was to become our flagship operation in Romania, the Game World Bucharest Mall gambling hall. At that time, it was the first gambling hall located inside a large shopping mall, and Bucharest Mall was the first such facility opened in Romania. As a result of ongoing investments in improvements and expansion, Game World Bucharest Mall is now the largest gambling hall in Eastern Europe and one of the most modern in this region. When Game World decided to invest in Romania, the country’s economy wasn’t really doing well. We all know about the 1998-2000 economic downturn, a difficult time marked by restructuring and unemployment. But the gambling regulations at that time – open to competition and relatively liberal compared to other countries’ – were the main points of attraction for investors in the Romanian gambling industry. Subsequent experience has proven that the industries that operated under a regulatory framework that facilitated competition were among those that experienced growth and hence brought benefits to consumers. Such an example is the competition between internet service providers, which has led to a level of service quality that has turned Romania into a benchmark for European states.

How has the Romanian gambling market changed since then? I would say that the most noticeable change is that the market has matured. Gambling halls operating without a license or unauthorized gambling machines have almost been eliminated from the market. Plus, Romania has a modern and coherent regulatory framework, unlike many other European countries. Credit is due to both authorities and gambling operators, who understood that upholding professional standards is the only way to be successful. I would also mention the investments, sometimes substantial, made in training staff or the quality of services and equipment. For example, Game World Romania invested about EUR 1 million in the most recent expansion of its Bucharest Mall gambling hall. We brought in stateof-the-art equipment only Game World has in Romania, based on a completely new concept inspired from Asian casinos. Over the past 21 years, the company has grown from 50 slot machines to over 800 and from 35 employees to about 400 today. Operators’ increasing support for responsible gambling and the industry’s contribution to the fight against gambling problems is another change for the local market. Along with actively supporting the Responsible Gambling program, Game World also runs an academic scholarship program aimed at psychology graduates and undergraduates who study the underlying mechanism of various addictions. We want to have as many clients as possible who drop by just to relax and spend their time in a pleasant and safe environment, and gamble any amount they think it’s OK just to have fun with. However, we do not want clients coming in for more than entertainment, looking for high wins or a blowout and putting their personal finances at risk. Generally speaking, I am not aware of

10 COVER STORY

www.business-review.eu Business Review | September 2020

a successful business that is not interested in the wellbeing of its

clients in casinos and gambling halls, I am happy to see that women

clients. Last but not least, the diversification of services offered to

account for over 20 percent of our total number of customers. For

customers is another trend that will consolidate in the future.

us, this proves they feel safe in our gambling halls and they appreci-

The diversity of both gambling and equipment has reached un-

ate our staff’s assistance, along with the elegance and cleanliness of

precedented levels and technological advances very much support

our interiors and the quality of our entertainment offerings.

this trend.

What can you tell us about Game World’s presence in Romania and how it is positioned on the local gambling market?

What impact did the SARS-CoV 2 outbreak have on Game World employees? Were there any layoffs? There were no layoffs and we did not cut employee pay. We

All our seven gambling halls

hope not to be forced to make

provide premium quality

such decisions in the coming

services, a segment where

period. We received state aid

we are the market leader. We

and we made up the differ-

are present in large shopping

ence so we could be able to

malls and central locations in

cover the legally mandated 75

Bucharest, Constanta, Alba

percent of each of our em-

Iulia, and Brasov. All our loca-

ployees’ wage. We organized

tions are elegantly designed,

communications so that all

to provide customers with a

of our colleagues would be

full sensory experience. Our

constantly informed about the

hall designs, the quality of

current situation and the deci-

materials and the state-of-the-

sions made or actions taken.

art equipment complete the

At Game World, the strength of

experience we provide to our clients and contribute to a welcoming

our team has always been one of our main competitive advantages

working environment of our employees. Along with our gambling

and therefore their health and material safety, a safe job, and well-

offerings – based on a wide diversity of options – the Game World

being are aspects we believe to be of special importance.

gambling halls include many facilities and additional services: parking, elevators and separate entrances reserved for our clients, open terraces for summer and winter, bars, large TV screens, just to

What can you tell us about the reopening of gambling halls? What are the main safety measures you have taken?

mention a few.

As I mentioned above, the Game World gambling halls operate at premium quality standards. As

What is the profile of the Game World client?

they are often located in shop-

Our gambling halls are en-

separate entrances with private

tertainment destinations for

elevators running through

everyone who wants to spend

the exterior of the building

their free time in an elegant

or through the underground

environment and enjoy quality

parking lot. This allows us to

services. Our customers have

control access. Upon entry,

active, dynamic lifestyles. For

everyone is required to wear

them, leisure is important and

a mask, disinfect their hands,

they want to spend their time

and have their temperature

doing interesting things. They

taken. Wearing a mask is man-

look for a diversity of gambling

datory indoors, surfaces are

and betting options and ap-

periodically disinfected, and

preciate them as much as the

ping malls, most of them have

slot machines are disinfected

fact that they can gamble in a way that entertains them. Meanwhile,

for each new user or upon request. Disinfectant dispensers are

they also want to have access to other entertainment options – from

at the ready inside each room and we have positioned the gam-

parties and live music to simply having the opportunity to relax on

bling machines so as to ensure proper spacing between players, as

a terrace. Our customers have high expectations, they know how

directed by regulations. Physical distancing is ensured by plexiglass

to appreciate the quality of our services and of the environment

separators placed between the slot machines. Last but not least,

we provide. Although men generally represent the majority of our

our employees were tested for COVID-19 using PCR tests before

www.business-review.eu Business Review | September 2020

COVER STORY 11

gambling halls reopened, and they all tested negative. Staff training

donations and provided sponsorships worth over EUR 100,000 to

was a separate and extremely important measure: employees wear

support the efforts in the fight against COVID-19 in Bucharest and 11

masks both indoors as well as in crowded exterior areas, they are

other cities in Romania, supporting hospitals or SMURD teams. The

very careful about hygiene and place a lot of attention on main-

company is actively involved in supporting the education of future

taining all player spaces clean and disinfected. Periodically, we do

psychologists who conduct addiction research. The first Game

a complete disinfection of all of our gambling halls using modern

World Scholarships were awarded in October last year. The program

technologies. Special equipment that allows us to disinfect surfaces

is aimed at psychology graduates and undergraduates at all accred-

using ozone treatment is one such example.

ited universities in Romania who choose to specialize in addiction research. This is an ambitious

How does Game World support the principles of responsible gambling?

program, the only one of its

We are among the biggest

cation and research in psychol-

promoters of these principles,

ogy. Also, we recently signed

which are part of our business

a partnership with former

strategy: we want responsible

goalkeeper Helmut Duckadam,

customers, who come to our

with whom we will work

gambling halls to be enter-

to support the Responsible

tained and spend quality time

Gambling program. The values

with their friends and families.

of the Game World brand are

We do not encourage individu-

in line with his public image

als who gamble excessively. In

and his presence on our team

problem gambling cases, the

is a true inspiration for our

players are referred by our staff

colleagues.

kind in Romania, meant to support university-level edu-

to get tested and attend psychological counseling – either online or at the offices of professional therapists who work in the Responsible

Are you present in online gambling?

Gambling program. Players can easily find information about this

The new normal made us accelerate our plans in this direction

program in our gambling halls, at info-point terminals where they

and led us to launch the GameWorld.ro online casino. The popular

can immediately access a support website. Training managers and

games our clients enjoy in the Game World gambling halls are now

front-line employees have a major role. They are informed about

available online. Although we launched it recently, we intend to

what the Responsible Gambling program offers and how it can be

provide the same premium experience online too, with high quality

accessed; at the same time,

offerings, diversity, bonuses

they are trained to recog-

and jackpots that can be found

nize the signs of a gambling

in physical gambling halls. It is

problem and to talk with these

an alternative we recommend

gamblers to provide them with

to those who want the Game

the needed support in order

World experience but live in

to access this program. Our

cities where we don’t have a

employee chart includes the

physical presence yet, as well

position of Responsible Gam-

as to those who sometimes

bling Counselor, whose main

don’t have the time to enjoy

responsibility is to inform and

being in an offline casino.

provide support to potential program beneficiaries.

What are your plans for the local market?

What kind of CSR activities does Game World run?

In the current context, we intend to stay abreast of the

Last year, Game World Group directed about RON 1.7 million to-

market through all the investments we’ve made so far, to keep our

wards social responsibility initiatives. The company supported 29

clients and employees satisfied and maintain our market leader

beneficiaries, among them Hospice Casa Sperantei, Daruieste Viata

position on the premium gambling segment.

Association, MagiCAMP, Little People Association, the Community

We need to be optimistic and think about the fact that after this

Foundation (the organisation’s Brasov branch), and Inima Copiilor

crisis ends, we will return to our development plans for the Game

Association. During the lockdown, the group’s companies made

World brand in Romania.

www.business-review.eu Business Review | September 2020

12 COVER STORY

Technology to reshape future of gambling industry With the gambling industry open to adopting the latest advanced technologies like virtual reality (VR), augmented reality (AR), blockchain and artificial intelligence (AI), both globally and in Romania, it is clear that technology is going to play a crucial role in redefining the gambling experience and client communication in the future.

By Anda Sebesi

he coronavirus pandemic

generates, the upstream and down-

has set back the Romanian

stream industries – HoReCa, IT&C,

gambling industry by five

security – generate another 5 RON,”

years, according to the most recent

notes Török. He adds that Game

available data from the National In-

World currently has about 400

stitute of Statistics (INS). Gambling

employees, while the parent group

operators in Romania experienced

has a workforce of about 2,000. When talking about the biggest

one of the most severe declines of the last 30 years between March

challenges the gambling industry is

and May this year. The local gam-

now facing, Török says these are re-

bling and entertainment industry

lated to the coronavirus pandemic

fell by about 24 percent in March

and the health crisis, even though

2020 compared to the same period

all operators have strictly imple-

of 2015. The gambling sector’s

mented all the measures required

March turnover was only 57 per-

by authorities to limit the spread of

cent of February’s, which means

the virus. “Still, we are indirectly affected by restrictions imposed in

that the entire sector sank by close to half within a single month. Then, in April and May, gambling

other fields like HoReCa, event planning, sports competitions, and

businesses reported almost zero revenue. “Given the situation, we

tourism. Along these, client behavior has changed,” Török explains,

made the necessary business continuity decisions and decided that

adding: “Figures show a drop in the time spent gambling as well as

the safety of our customers and employees was our main priority.

in the frequency of visits to gambling halls. In this context, we shall

We focused on the long-term business principles and we organized

see whether and how gambling operators will adapt and manage to

our activity so that we would be able to adapt as quickly as possible

pay their taxes and cover the costs related to wages, rent, and opera-

to the multitude of changes that occurred during this period. For

tions over the next few months.”

example, over the past three months we went from “closed until fur-

At the same time, the pandemic has also brought some oppor-

ther notice” to being open round the clock and then back to limited

tunities to the market, especially for online casinos, which did well

opening hours (until 11 PM, later extended to midnight), and we hope

both when physical casinos were closed and, after the lockdown was

to be able to return to our non-stop hours as soon as possible. During

lifted, while the latter were still struggling to overcome difficulties.

all this time, we’ve been focusing on communicating with our clients

“For offline operators, the current situation is an exercise to adapt

and employees, for whom we’ve taken extra health and safety mea-

to the most difficult and unpredictable conditions,” argues Török.

sures. Maintaining communication with professional associations

Given such complex conditions, what will the gambling industry

and the authorities for accurate information on the latest develop-

look like ten years from now? “Technology is one of the engines of

ments concerning gambling halls was equally important,” says Attila

this sector and the dynamic of the last few years has proven it. The

“Otto” Török, Game World Romania strategy director.

industry experienced significant growth with each year that passed

According to the latest data provided by the National Gambling

and the changes we will witness by 2030 will certainly be more

Office (ONJN), 250 gambling operators are currently active on the

impactful than those that have occurred since 2010,” he adds. The

Romanian market. They contribute about EUR 600 million to the

Game World official also points out that the implementation of AI,

state budget every year. At the beginning of 2020, there were about

VR, AR, blockchain or other innovative technologies in all areas of

45,000 direct employees of the local gambling industry and a few

the business, from the gambling experience to client communication

other thousand worked in related and dependent fields. “Accord-

and transaction security, are trends that the gambling industry is

ing to Romslot data, for each RON the Romanian gambling industry

expected to follow in the future.

www.business-review.eu Business Review | September May 2016 2020

COVER STORY TECH 13 14

Tech scaleup ecosystem: Romania versus Poland While still in its infancy and still developing and aspiring to be more like mature ecosystems such as London or Berlin, the tech startup ecosystem in Romania and Poland should be taken into account when looking at the European entrepreneurial scene. By Claudiu Vrinceanu

tal landscape, we should look at the evolution of deals in the next four months. In the tech area, companies seem to be less In the tech area, companies seem to be less affected by the current crisis

affected by the current crisis, but it is clear that we are about to see a resettlement of the market. Investment fund managers expect

he first step the Romanian tech

ments in Romania, namely 39 transactions,

that in the near future â&#x20AC;&#x201C; though not the very

ecosystem should take is to catch up

with a total value of EUR 29.3 million. By the

near future â&#x20AC;&#x201C; founders will try to tell their

to the Polish environment, and we

number of investments, the second most ac-

stories in a different way, addressing risks that

should start with the financing ecosystem.

tive financing vehicle is Gecad Ventures, with

could arise.

Poland and other developed countries have

18 investments, totaling EUR 20.5 million.

It is important that these risks are not kept hidden, but communicated to others and

everything they need: ideas, motivation,

understood.

enthusiasm, world-class engineers, and more

2. FUNDING ROUNDS (1,376 VERSUS 355)

money. But how is Romania doing in terms of

While Poland can boast of 1,376 rounds of

financing for companies with growth poten-

investments, only 355 financing rounds by

3. EXITS (366 VERSUS 116)

tial as compared to Poland?

private investors have been concluded in

The number of exits made by entrepreneurial

Romania in recent years. On the local market,

companies has risen to 366 in Poland is recent

1. INVESTORS (337 VERSUS 97)

eight teams raised financing in Q1 2020

years, while in Romania this number is 116.

While Poland has a total of 337 investors,

and 15 tech startups and scaleups closed or

Two notable exits have taken place lately on

mainly investment funds, only 97 investors

announced deals in Q2 2020 (the first full

the Romanian market. First, the gaming and

are active in Romania today, according to De-

quarter of pandemic times).

software testing company Whyttest, founded

alroom data. For example, the largest invest-

It is difficult to know how long the eco-

in 2014 by entrepreneur Marius Potirniche,

ment fund in Poland is MCI Capital, which

nomic downturn caused by the coronavirus

was acquired by British quality assurance

invests on average between EUR 5 million and

will last, but the amount of venture capital

(QA) service provider Testronic, part of the

EUR 50 million and so far has had 55 rounds

funding for Romanian tech startups during

Catalis group. Second, investment fund Abris

of investment. This investment fund has

the first semester looks satisfying. The level

signed a new investment in Romania, having

invested EUR 544 million in Polish compa-

of investments is comparable with pre-pan-

bought the Romanian branch of Hungar-

nies. Innova Capital is the second largest fund

demic times, but almost all investments had

ian company Eltex for over EUR 5 million,

in Poland, based on the number of transac-

their negotiation roots before March 2020. Is

through a firm belonging to Romanian hold-

tions, with 49 investments, totaling EUR 13.9

the current situation quite as gloomy as the

ing company Green Group, the owner of the

million. For comparison, of the 97 investors,

previous crises for Romanian tech fundrais-

largest integrated recycling park in Southeast

GapMinder is the fund with the most invest-

ing? For a realistic assessment of venture capi-

Europe.

www.business-review.eu Business Review | September 2020

14 FOREIGN INVESTMENTS

Six types of foreign investments that continued in Romania despite pandemic Foreign direct investment (FDI) into Romania has seen a sharp decline due to the COVID-19 crisis, with the country narrowly avoiding recession. Still, we could look at the full side of the glass in the current conditions and celebrate the foreign investments that did come to Romania during the pandemic. We’ve selected six types of foreign investments which were announced or closed during the first six months of the pandemic – between March and August 2020. By Claudiu Vrinceanu had bought Movial, a Romanian software engineering and design services company focused in mobile and embedded devices. Through this investment, the Movial office in Iasi will become Microsoft’s fourth technology development centre in the region.

4. R&D INVESTMENT Continental Romania has completed works to expand its research and development centre in northeastern Iasi, in which it has invested EUR 27 million. The new construction has 8 levels, a capacity of up to 1,700 places, and comprises a complete testing and validation area for products developed within the company, as well as relaxation spaces, conference halls, and dining halls.

5. REGIONAL HUB INVESTMENT IT is one of the sectors which attracted investments during the pandemic

German water pump system producer Wilo has invested EUR 6.9 million in building a regional headquarters in Otopeni, near Bucharest.

1. NEW FACILITY INVESTMENT

2. GREENFIELD INVESTMENT

Swedish plastics manufacturer Rosti Group,

A new investment of EUR 50 million, near

which already has a factory in Ploiesti, ex-

Ploiesti, got a lot of attention despite the pan-

nage its operations across ten countries in the

panded its operations on the Romanian mar-

demic, especially since it will create around

region.

ket with a new production unit. The new unit

700 new jobs.

is located just a few kilometers away from the

Specifically, the largest household appli-

The company will use this office to ma-

6. SCALING UP INVESTMENT

existing factory in Ploiesti West Park, which

ance company in China, Haier, is preparing

German group Bosch inaugurated the new

the Swedes bought from Nimbus Investments

a huge investment in Prahova, at Aricestii

headquarters of the Bosch Engineering

in 2015. The factory will have an initial area

Rahtivani. Production of Rosières ovens, an

Centre in Cluj-Napoca, scaling up its opera-

of about 11,000 square meters, more than

emblematic brand of French know-how and

tions in Romania. The investment in the new

double compared to the existing unit, and

gastronomy, will be moved to Romania fol-

centre was around EUR 30 million.

will produce injection-molded plastics for

lowing the investment.

the automotive industry as well as custom

The new building has a total built area of 17,500 sqm, with over 10,000 sqm of modern

materials. The new unit is located in Paulesti,

3. IT INVESTMENT

and customised office space, and hosts 500

near Ploiesti.

Microsoft announced this summer that it

employees.

www.business-review.eu Business Review | September May 2016 2020

COVER BUSINESS STORY 15 14

How six months of the COVID-19 pandemic changed Romania’s business environment Six months have passed since Romania imposed a state of emergency on March 16, 2020, a moment that represented a trigger for a series of profound changes in the business environment. Many new trends have emerged and are influencing the way we work, communicate, and grow. By Claudiu Vrinceanu 1. WORK FROM HOME - OR RATHER WORK FROM ANYWHERE (WFA) It is already clear that the COVID-19 pandemic has fundamentally changed the way employees work, and their presence in office buildings has quickly been replaced by working from home, which will soon turn into work from anywhere, in places where working seemed impossible a year ago. According to specialists, the return to office buildings is unlikely in the near future, and as more employees now working at home will want to temporarily change of scenery, companies must be prepared in terms of internal com-

The current outbreak accelerated the digitalization in many sectors

munication and organisational culture for the moment when we will witness the paradigm shift from “work-from-home” to “work-from-

have led to an explosion of digitalization,

anywhere”. Once the pandemic passes, many

but this process is still just beginning for two

5. MORE STOCK OPTIONS PLAN PROGRAMMES

Romanian managers will prefer a hybrid

reasons: first, the public administration is

During this period, the attractiveness of Stock

system, from home and the office.

only now taking its first shy steps to cut red

Options Plan (SOP) programmes increases

tape, and second, there are many companies

for entrepreneurs, especially in the context

2. CROWDFUNDING AND ANGEL INVESTING

in the business environment with turnovers

of COVID-19, given that certain benefits and

One problem that has become apparent over

between EUR 500,000 and EUR 2 million that

salaries can no longer be paid out in the cu-

the last six months is that founders need peo-

need digitalization, but do not yet have the

rrent economic context. A SOP programme

ple who believe in them from the early stages

required budgets to begin the process.

is a tool to motivate and reward a company’s staff. Specifically, employees are given the

and provide capital, advice, and networking. Meanwhile, many investors and funds tend

4. NEW CONTENT PLATFORMS

right, at a future date, to choose to purchase

to wait until companies show visible traction.

Given that the number of events we can take

company shares at a preferential price – or

Therefore, there is a lack of funding space that

part in will decrease in the next 12 months,

even get them for free.

is starting to get covered by business angel

and that managers and entrepreneurs will

investors and crowdfunding platforms. The

be increasingly reluctant to attend large

number of angel investors in Romania has

networking actions, they will invest more in

6. MORE GROCERY AND RESTAURANT DELIVERIES

increased; now complementary teams need

creating content to develop personal brands

At the global level, more and more tech start-

to be created with a product that has a viable

in order to expand their business networks.

ups are promising to deliver groceries within

go-to-market strategy.

New platforms are now more accessible to

less than an hour. Restaurants in Romania,

Romanian managers and founders: blogs,

including City Grill, one of the strongest play-

professional newsletters, LinkedIn, and

ers of the local restaurant industry, are adap-

podcasts.

ting to new market conditions and pivoting.

3. DIGITIZATION, DIGITIZATION, DIGITIZATION More and more studies are showing how the

According to a BRAT study, 37.8 percent of

Home delivery was one of the main drivers

coronavirus crisis has accelerated digital de-

Romanians aged between 16 and 50 – that’s

of the restaurant and retail business during

velopment. The move to remote work, online

3.2 million people – consume online audio

the COVID-19 pandemic, and this trend will

ordering, and the use of cloud IT resources

content in a podcast format.

continue to grow.

www.business-review.eu Business Review | September 2020

16 INVESTMENTS

Apa Nova transitions to responsible 21st century capitalism With a massive investment of EUR 367.9 million in Romania by November 2037 based on a Master Plan approved last year by the General Council of Bucharest, Apa Nova is committed to better respond to the needs of the city. BR sat down with Madalin Mihailovici, the CEO of the company, to learn about the main targets of these investments over the coming years. By Anda Sebesi are significant and necessary steps towards placing Bucharest on the European smart city map, and Apa Nova is working tirelessly to achieve these ambitious objectives.

You have announced a EUR 367.9 million investment, based on a Master Plan approved last year by the General Council of Bucharest. Let’s take them one at a time. Where will this money come from and when will the funds become available? And what does the strategic investment programme include? The investment plans were announced as a result of the General Council of Bucharest’s approval of an extension to the Concession Agreement. At the beginning of August, Apa Nova and the Bucharest Municipality signed a 12-year extension of the Concession, until 2037. Therefore, the partnership between Apa Nova and the Bucharest City Hall will continue to the benefit of over 2.2 million residents, providing them with high quality water and sewerage utilities, under safe conditions. More precisely, through this contract ex-

How can Apa Nova contribute to the smart city concept and what are the biggest challenges related to Bucharest’s water infrastructure?

face when it rains heavily are not just specific

tension, Apa Nova is making a financial com-

to Bucharest, but also to cities like Vienna,

mitment of EUR 367.9 million – with immedi-

Paris, Warsaw or Rome, whose streets turn

ate access to these funds – which involves the

into little Venices when the sewer network is

implementation of a multi-annual investment

The major European capitals have experi-

at capacity.

programme worth EUR 230.9 million, but also

enced accelerated development in recent

However, climate change and the new

additional expenses summing up to EUR 137

decades, and new urban needs require radi-

needs generated by urban development are

million for the water and sewerage infra-

cal changes in building construction, road

putting increasing pressure on the operating

structure. Four main strategic investment

infrastructure, and utilities. For example,

system, challenging it on multiple levels. To

pillars worth EUR 230.9 million have been

water and sewerage systems are challeng-

solve such problems, massive investments are

identified. The extension and modernization

ing for large operators in all major European

required to respond to the city‘s development

works, meaning a total of 682.5 km of water

cities, not just for us, due to their age, but

and to maintain the comfort of the people

and sewerage system, will cover 1,915 streets

also because of the architecture of historic

living in Bucharest. Therefore, Apa Nova has

across Bucharest, and will run over the course

centres, and climate change and increasing

committed to invest EUR 367.9 million in

of the next 11 years. The first pillar aims to

populations make operating them increas-

its system by November 2037. Water system

reduce flooding risk in central and depres-

ingly difficult. The issues the sewer systems

infrastructure development and digitalization

sion areas and includes investments of EUR

www.business-review.eu Business Review | September May 2016 2020

INVESTMENTS COVER STORY 17 14

89.9 million. This entails building 94.3 km of

resents 1.14 percent of the commodity bundle

What are your goals for the coming years?

rainwater and domestic sewerage, to benefit

of Bucharest residents - one of the lowest in

The company’s main objective for the next

793,000 Bucharest residents. The works cover

Romania and even in the European Union -

years is to provide safe essential services for

270 streets in key areas, such as Tineretului,

and the maximum limit for this service is 3.5

the capital city every day. This would not be

Vacaresti, Pallady, Colentina, Muncii, Fun-

percent of the market basket.

possible without a continuous digitalization

deni, and Dobroesti. The second pillar foresees reworking the

process, and the company will allocate EUR 7 million to create a digital ecosystem.

million. Over 364 km of new water networks

If you drew a line, how would you translate these 20 years in terms of results for the company, and also for Bucharest? And what is the total value of investments?

will be built, and they will benefit 645,000

The company’s daily performance is evalu-

Romanian legislation, in order to ensure high

Bucharest residents. The works will take

ated based on the 23 standards for service

quality and safe public services.

place on 1,349 streets, including the Historic

quality stipulated in the Concession Agree-

Centre, and will be completed in 2031.

ment, which function as criteria for monitor-

was needed at both the management and

water infrastructure to meet current and future needs, with a project worth EUR 57.75

The investment programme also in-

Apa Nova must respond in real time to current market conditions, to the evolution of technology and the imperatives of

In 2015, it became clear that a radical shift

ing our technical and commercial results. For

operational level to improve the KPIs the

cludes the expansion of water and sewerage

20 years, all these obligations have been fully

company had committed to in 2000, upon

networks according to the urban develop-

met. The network’s 78.4 percent efficiency

signing the Concession Contract.

ment plan in order to create conditions

rate is surpassed only by Vienna and Berlin’s,

for the sustainable growth of the metropolitan area and

Following the complex business transformation process, the company

but the tariff in Vienna

kept 6 hierarchical levels

is over 2.8

ensure access to public

(compared to 11 initially),

times

utilities on unregistered

simplified intra-depart-

and unsystematized

mental communication

streets. The total value

and developed a new

of this multi-annual

and improved organ-

programme amounts

isational architecture,

to EUR 81 million and

which has increased

aims to expand the wa-

efficiency and built a

ter network by 132.8 km and the sewerage network by 91.4 km. These investments will benefit 370,000 new and current

solid, progress-oriented

high-

digital culture.

er. Another

Following the worldwide

important factor is the degree of satisfaction of

success of the Apa Nova project –

Bucharest residents on 296 streets in areas

Apa Nova customers, which is currently at

which won first place in the “Best Business

such as Odai, Sisesti, Prelungirea Ghencea,

88 percent, and increasing every year. In the

Transformation Project” category at the 2019

Berceni, Uverturii. This project’s main objec-

20 years Apa Nova has been responsible for

edition of OPEX Week - Business Transfor-

tive is to provide every street in Bucharest

the water and sewerage system, the water

mation World Summit (Orlando, FL) – Veolia

with access to utilities by 2025.

has been 100 percent potable, the number of

Group decided to extend the project to the

connections has almost doubled, over 39,000

next level: identifying and capitalising on

safety of the water supply system in case of

smart meters have been installed, the repair

synergies between all Veolia companies in

emergencies (high-intensity earthquakes or

time for a fault is generally around 6 hours,

Romania, under the name One Veolia.

other types of catastrophes) and it will see

there have been no water outages longer than

All business processes aimed at this ex-

a EUR 2.2 million investment. The project

24 hours, and the network has been extended

pansion – as a first wave – are already aligned

includes the construction of 35 deep wells

by over 700 km of new pipelines. And, finally,

and standardised, and by the end of 2020

distributed across all districts. This project’s

the tariff charged by Apa Nova has remained

they will all be implemented.

deadline is 2025.

one of the lowest in Romania and the Europe-

Once this happens, the company will

The fourth pillar refers to increasing the

This multi-annual investment programme

an Union. Over these years, the water supply

be placed in the Continuous Improvement

will guarantee a fixed tariff for water and

and sewerage system have been rehabilitated,

phase.

sewerage services throughout this period.

modernized, and developed according to the

For this EUR 367.9 million investment, the

best industrial practices in the field. These

continuous improvement processes are

current tariff remains unchanged, and one of

achievements are the result of investments

designed and executed are essential for the

the lowest in the country (43rd place out of

exceeding EUR 530 million, which have been

company’s progress and alignment with the

45 main operators in Romania). Currently, the

allocated from our own sources, without any

globally adopted Veolia goal: the transition

company’s tariff for water and sewerage rep-

European funds.

to responsible 21st century capitalism.

The quality and precision with which

www.business-review.eu Business Review | September 2020

18 INSURANCE

Adaptability is at the core of Euroins Romania Coleta Chirita, member of the Euroins Board of Directors, tells Business Review about the way 2020 has impacted the company and how it has managed to surpass challenges and innovate in order to provide a better experience to clients. By Anda Sebesi stakeholders would agree, that 2020

both general and niche needs. As an example,

is a year when Euroins accelerated

this summer we launched a truly audacious

on the innovation path, setting new

travel insurance product: RON 25 to cover

examples of good practices for the

travel risks for the whole family and for an

Romanian insurance market. We

unlimited number of trips in Europe, for the

have also showed resilience during

entire summer season, until September 30,

these tough and complicated times

2020.

and proved that Euroins is a robust, stable and growing company. And brings an increase in the number of

Can you give us some examples of good practices on the Romanian insurance market which Euroins has generated?

customers, employees, and offices,

Permanent customer orientation, transpar-

Euroins has remained extremely

ency in communication, and the continu-

flexible and we have been able to

ous development of internal processes and

despite the fact that every year

How is Euroins currently positioned on the Romanian insurance market?

adapt easily. It also helps that we are part of

digitalization are just a few of the practices

a strong international group, as we can learn

meant to increase the quality of our services.

Euroins Romania, part of the independent

from our colleagues, but at the same time,

In this way, we can proactively respond to

European EIG insurance group present in

we are the ones who have the opportunity to

market needs. We believe that the future lies

Central and Eastern Europe, is amongst the

open up new paths..

in digitalizing and streamlining interaction by automating processes, as we have already

top insurance companies, ranked third on

implemented a number of improvements of

a strategy to strengthen its position through

What have been the biggest challenges this year for Euroins and what positive impact have they had on the company?

innovation and by adaptating to continuously

The coronavirus pandemic is, for every com-

claims. These actions are just the beginning

changing market conditions

pany, a crucial test of adapting to the new re-

of a long process of facilitating and continu-

the Romanian market, with a market share of 12.26 percent in Q1 2020. Euroins develops

the claim management process, call center, scheduling, and online notification of MTPL

ality. From the beginning of restrictions, the

ously improving the interaction with our

shows the dedication of our customers to the

company was among the promoters working

clients, both policyholders or claimants. The

available insurance products. Innovation,

from home, ensuring continuous presence

digitalization of interactions and relation-

seen through through new products designed

in all departments. Constantly focused on

ships with customers is undoubtedly one of

to meet the changing needs of customers, the

meeting the needs of its customers, Euroins

the main opportunities for development in

company’s growing capitalisation, are all ele-

has developed a IT applications which have

the sector.

ments that complete the company’s vision of

provided customers and victims the opportu-

Euroins. Just a few days ago, we had a strong

nity to digitally report information on dam-

client to know that they can rely on their in-

capital increase worth almost RON 100 mil-

ages related to their insurance policies.

surance company, that they don’t need to do

The increase in sales on a yearly basis

It is more important than ever for every

any extra travel, that you are not out of their

lion. It is important for everyone to know that

way, that you do not mean more bureaucracy.

the Romanian insurance market, and show-

What can you tell us about Euroins’s degree of innovation and how it is reflected in the company’s products?

ing everyone that despite the extremely

Euroins anticipates market needs, and also

the process is complicated, that there’s no

complicated times in which we live, Euroins

responds to them in an effectivelmatter..

point in having insurance if you’re not lucky

is a stable, constantly growing company•

Therefore, we are developing complex and

enough to get in touch with insurance people

It is important to stress, and I believe market

competitive insurance products that meet

who really want to help you.

2020 is the year in which Euroins innovated, setting new examples of good practices for

Because there is still a misconception affecting the entire market, with people thinking

www.business-review.eu Business Review | September May 2016 2020

COVER STORY HR 19 14

The future belongs to those who will be able to adapt to different contexts What will jobs in banking look like in the future? Will they be totally driven by the rapid technological advance we’re currently experiencing? Andreea Voinea, executive director in the BCR HR division, sat down with Business Review and explained the new structure of banking jobs and the main traits of future leaders in this industry.

What will future banking jobs look like?

years, this has been a trend in the banking

I think that the banking sector is at an

system. At BCR, we have a team of 500 IT

important tipping point and it is migrating

specialists out of a total of 6,800 employees.

towards a new era, making the shift from the

We are in line with trends in the local banking

traditional model to a more digitalized one.

sector as we’ve continued to hire since the

of their consumers. The competition is quite

However, my opinion is that banking will

beginning of 2020 in order to grow this team.

fierce in this field in Romania and this comes

remain a business made by people for the people, while being supported and improved

By Anda Sebesi

on top of a “struggle” to find talented candidates in this sector. Today, we can say that the

I think that future bankers will not be much

What role will technology play in this change, in both retail and corporate banking?

different from what they are now. But in the

In order to keep up with international

lization process. Both we as a bank as well

context of the migration from the traditional

trends in the banking industry and meet the

as our clients were somehow forced by the

organisational models to agile ones, the

expectations of its clients, the Central and

circumstances to move towards remote bank-

ways in which people from different areas of

Eastern European banking system is becom-

ing. For example, BCR has 137,000 fully digital

the bank (regardless where they are located

ing increasingly advanced when it comes to

George accounts and 24,000 loans have been

in the business flows, whether it’s product

technology. Hence, we’re introducing a lot

offered online so far.

management, IT, risk, operations, legal or

of digitalization in our processes and this

compliance) will manage to collaborate and

generates a re-evaluation of BCR’s culture and

co-create effective solutions adjusted to the

organisational structures. Where processes

current needs of our clients will be essential.

are standardised, technology will continue

What will future banking leaders be like, considering that the digitalization process is getting stronger?

by the use of data and technology. Therefore,

situation generated by the coronavirus crisis helped us because it accelerated the digita-

to help us. But in both the retail and the cor-

The ability to adapt to change has always

How will jobs in this industry be structured?

porate segments, trustworthiness, prompti-

been a must for a leader, and now I think it

tude, and the professionalism of bankers will

is more important than ever. Future leaders

The job structure in the banking industry will

continue to be the main features making the

are among us. Some of them are already high

change and we will have more people focus-

difference on the market.

performers in their roles, others are training for this. I strongly believe in balance and to

ing on understanding the needs of clients

me it seems natural for a leader to keep the

to other areas like contact centres or online.

How accelerated is the digitalization process in the Romanian banking industry right now?

Considering all the things mentioned above,

The future belongs to those who will be able

one – which we all need during these times.

we’re certainly seeing an increased number of

to adapt to different contexts. In this case, the

Leaders who adapt quickly and know how to

IT specialists in banking compared with what

it belongs to digitalized lenders who come up

coordinate their teams towards new ways of

we had in the past. In the last two or three

with rapid solutions and anticipate the needs

working will stand out from the crowd.

and advising them. Meanwhile, traditional customer service channels will be moved

usual attributes of a good manager but also to adopt the agile approach – a more human

www.business-review.eu Business Review | September 2020

20 TECHNOLOGY

Digital Transformation as catalyst for accelerated crisis recovery One of the most important lessons learned from the COVID-19 pandemic was that no business is immune to a crisis and no organisation is 100 percent resilient. The crisis also taught companies that digital businesses and those fortified with some digital capabilities have been able to pivot more rapidly and respond to their customers’ needs. Business Review talked to Daniel Rusen, Director of Marketing and Operations at Microsoft and Adrian Georgescu, Enterprise Commercial Lead at Microsoft, to find out how a big company managed to deal with the pandemic crisis and with the uncertainty of the global economic climate. By Aurel Constantin the entire organisation. These companies have been able to quickly respond as this crisis has impacted their industries, they have a solid foundation for recovery, and they’re already starting to reimagine what the future may bring,” says Adrian Georgescu. An example of a Microsoft client is a large bank from Romania, which is moving its auxiliary and core-banking systems to the cloud and continuously working to embed new technologies and innovations in their core systems. The bank managed to rapidly adapt to the new reality and support SMEs across Romania and Eastern Europe. “Technology is embedded in their strategy and as they continue to transform, they become more resilient and unlock new value for customers,” Daniel Rusen explains. For the private healthcare network Regina Maria, tech adoption allowed a rapid deployment of Telemedicine solutions in less than 10 days. Hit hard by the state of emergency Adrian Georgescu, Microsoft

Daniel Rusen, Microsoft

that kept patients out of their clinics, with support from Microsoft and Softeh, the company put up an online medical consulta-

uring the pandemic, companies

“Organisations that have already em-

tion solution that covered 50,000 sessions in

found that resilience, the ability

barked on their transformation journey are

the first two months. Employees from more

to adapt quickly to changing

seeing the benefits. With cloud-enabled

than 1,500 companies used the solution and

conditions, has become the hallmark for

technologies, they have access to on-demand

over 5,500 patients used it for their annual

success in today’s environment. For many

tools and capacity tailored to their needs.

check-up.

companies, adapting to change makes the

With scalability and speed of implementa-

difference between staying in business or go-

tion, they’re seeing higher cost savings. And

nesses face when going digital and fortify-

ing bankrupt. Today, to adapt also means to

with efficient, agile, and self-sufficient tools,

ing themselves with digital capabilities to

digitally transform your business.

their employees are staying productive across

improve their resilience. Interestingly, the

“There are many challenges that busi-

www.business-review.eu Business Review | September May 2016 2020

COVER TECHNOLOGY STORY 21 14

root cause of many of the challenges cus-

and hardware up and running. Your cloud

tomers face most often is also the potential

provider does that. In addition, companies

massive demand shock, setting off job losses

solution – data,” argues Daniel Rusen. Data is

can leverage technologies available only in

that far exceed the scale of the Recession

generated by virtually limitless sources, and

cloud, like Artificial Intelligence, which gives

from a decade ago. The world will need a

the pace of data growth is only increasing.

new insights into businesses and helps you

broad economic recovery that will require

IDC estimates that by 2025 the world’s data

provide better services to your customers.

the development of new skills among a sub-

will grow to 175 zettabytes – that’s 175 trillion

Costs of risks from cybercrime increased to

stantial part of the global workforce.

gigabytes. “To put that in context, imagine

from USD 600 billion to USD 1 trillion in 2019

According to Microsoft calculations,

putting that much data onto Blu-Ray discs.

so it makes sense to reduce your cost of risk

global unemployment in 2020 may reach a

You’d have a stack of discs that could get you

with built-in, defense in depth security avail-

quarter of a billion people. It is a staggering

to the moon twenty-three times. That is also

able in cloud.

number. The pandemic respects no borders.

a 9 percent increase over the same prediction

There are several examples of companies

In just a few months, COVID-19 caused a

In the United States alone, the Congressional

made a year ago. When it comes to generating

that have used cloud solutions. GSX built

Budget Office estimates that the country

data, we’re even outpacing our own expecta-

logistics and supply chain to optimise British

may witness a 12.3 point increase (from 3.5

tions,” says Rusen.

American Tobacco’s spare parts process. The

percent to 15.8 percent) in its unemployment

solution provides insight into its current

rate, equating to more than 21 million newly

tions are facing is not just how to deal with

acquisition needs and then delivers a more

out-of-work people. Many other countries

the volume; it’s also finding ways to generate

efficient way to fulfil the order internally.

and continents face similar challenges.

new customer value by leveraging that data.

Building and running the algorithm on-prem-

In the shorter-term, COVID-19 will contin-

That’s how organisations become industry

ise would have required a huge investment in

ue to lead to unprecedented reliance on digi-

leaders. “For all these customers and more,

raw processing power. GSX then moved the

tal skills. In many situations, some workers

the key question was, how can they tran-

process into Azure with the help of

scend product and data siloes in order to

local Microsoft experts Zitec,

achieve their purpose-driven digital transfor-

which made a radical

mation? To answer that, we have worked in

difference. “With

the workplace while

the concept of a digital feedback loop, which

our new software

others continue to

allows companies to cover new layers of in-

and the help of

novation as they implement technologies,”

Azure, searches

The shorter-

Rusen explains.

can now be

term “hybrid

completed in 15

economy” is

With all this data, the challenge organisa-

may spend several months or longer in a “hybrid economy,” where some will be in

work from home.

TRANSFORMING CAPEX TO OPTEX AND MINIMISING UPFRONT COSTS

minutes,” Rusen

a more digital

notes. In less

economy.

Digital transformation can help companies

than one year,

achieve cost savings and business value.

the solution deliv-

Using the cloud allows them to transform CA-

ered more than USD

take place amid

PEX (capital expenditure) to OPEX (operating

12 million in savings.

the longer-term and

The economic recovery will

already-unfolding wave

expenditure) through solutions that enable

of automation based on the

them to leverage pay-per-use models and

THIS CRISIS IS DIFFERENT

avoid upfront investments. Meaning that it is

In 2008, the crisis began with the

cost-effective to pay a monthly fee per user

disruption of the US real estate and financial

what some have called the Fourth Industrial

for a certain software or app than to invest in

markets and only spread to the financial and

Revolution. “Over the next five years, we es-

licensing the software from the beginning.

real economy in the rest of the world after

timate that the global workforce can absorb

“This allows you to shift investments from

a certain period. The COVID-19 pandemic is

around 149 million new technology-oriented

IT infrastructure to core-business and to

exerting a more radical and abrupt effect,

jobs,” says Rusen. Software development

create new value for your customers,” says

and it’s hitting many industries harder than

accounts for the largest single share of this

Georgescu.

the 2008 financial crisis.

forecast, but roles in related fields like data

Consolidating solutions to a single vendor

But as societies reopen, it becomes appar-

new technologies that underpin

analysis, cyber security, and privacy protection are also poised to grow substantially.

has always been a strategy to enable costs

ent that the economy in July will not be what

savings. Right now, technology makes this

it was in January. Increasingly, one of the key

easier than ever. For example, migrating

steps needed to foster a safe and successful

of 645,000 new technology jobs in the next

IT infrastructure to the cloud enables cost

economic recovery, besides tech adoption, is

5 years (by 2025) with more than 400,000 in

optimisation in server maintenance as you do

expanded access to the digital skills needed

software development and 100,000 in Cloud

not need to worry about keeping data centres

to fill new jobs.

and Data roles.

Romania is estimated to have a capacity

www.business-review.eu Business Review | September 2020

22 TECHNOLOGY

Violeta Luca, Microsoft Romania: Learning is a lifelong process and skilling is an essential element of any professional career Around the world, 2020 has emerged as one of the most challenging years of our lifetime. In just six months, the world has endured multiple challenges, including a pandemic that spurred a global economic crisis. One of the keys to an inclusive recovery are programmes that provide easier access to digital skills for people hardest hit by job losses, including those with lower incomes, women, and underrepresented minorities. Business Review interviewed Violeta Luca, General Manager of Microsoft Romania, to find out what skilling means for people today. By Aurel Constantin Considering the COVID-19 situation, which led to many changes in the way we all work, how important is employee skilling or learning new things for the job you have or the one you want to have? Violeta Luca: I believe learning should be a lifelong process, so I would say skilling is an essential element of any professional career at any time, not necessarily just during difficult times. After all, when you learn more, you can do more, and you can achieve more. That said, a solid skillset definitely represents a competitive advantage on the job market and while managing one’s career path, the focus should be on developing skills, keeping the three horizons in mind – the short, medium, and long-term impact. As for which to prioritise, I believe that the answer depends very much on the individual situation, but creating value for stakeholders is paramount at any given moment. What is different now is that we have all been propelled into the next stage of the digitalization of collaboration by the pandemic – with remote working, online collaboration, and such – and it is very important for an employer to provide the necessary skilling opportunities for employees to adapt. Not only that, but this new work landscape also holds not just the key to survival, but also important opportunities for the development of a company. And those opportunities will be unlocked when employees have the knowledge and skills to make the best of them.

What skills should any employee learn to secure a role in the work-force of tomorrow?

www.business-review.eu September Business Review | May 2016 2020

COVER TECHNOLOGY STORY 23 14

Going forward, I think communication will be

an important step in accelerating economic

and doesn’t just solve the problems of the

an essential skillset in any job – as technology

recovery, especially for the people hardest hit

present.

and circumstance encourage remote work

by job losses.

and collaboration, we will need to improve

This initiative includes immediate steps

our abilities to listen, understand, and make

to help those looking to reskill and pursue

ourselves understood, at any job level. Fur-

an in-demand job and brings together every

SMEs were badly hit by the crisis. What should they do to avoid bankruptcy and how can digitalization help?

thermore, I believe that having strong project

part of the company, combining existing and

I think digitalization can greatly increase

management skills is extremely valuable in an

new resources from LinkedIn, GitHub, and

a company’s agility – and if we are talk-

environment that is more complex, dynamic,

Microsoft.

ing about SMEs, their smaller size coupled

with many interdependencies and multiple

with digital transformation can make them

stakeholders. In many cases, “getting the job done” requires excellent project management and orchestration capabilities. Another element is something I like to call “digital awareness.” That is a general knowledge of how digital systems interact and function. I’m not saying we should all be engineers, far from it, but like professional drivers have a general notion of how an engine works even if they are not able to repair it, so too a user of digital tools should have a notion of the principles behind them. This will allow them to use them at maximum capacity.

Should companies invest more in their employees’ education? How does upskilling help businesses survive? Obviously. Helping your employees develop is one of the best things you can do as a company – both because you benefit directly from increased productivity, but also because you add value to their lives and establish beneficial relationships. Retaining valuable employees might become a challenge sometimes, and it’s definitely not enough to be able to provide a good job. In my view, a company should build a more comprehensive set of benefits, paying a great deal of attention

amazingly flexible. Digital tools can help you

the time and space and provides resources to

The digital transformation of the economy is underway and has accelerated since the start of the pandemic. How important is the process for the overall economy as well as for companies?

enable continuous education.

to culture. In my experience and considering today’s needs, an employer that drives loyalty and overall favourability is one that creates

reduce costs without decreasing productivity, can help you create and scale new products and services quickly, can open up communication to new audiences, enable new sales

It’s essential. It was a natural, almost organic

channels, and so on. The decision to trans-

In this respect, and at the same time in

response to a very real need, and it trans-

form the business model using digitalization

response to the global economic crisis caused

formed the way work is being carried out

is absolutely needed and has the potential to

by COVID-19, Microsoft recently launched a

on a global scale. But that was reactive – a

drive extremely positive outcomes. And let’s

new global skills initiative aimed at bring-

solution to a problem. What is important

not forget that sustainability relies on vision,

ing more digital skills to 25 million people

now is how we can build on that, how to take

perspective, strategy, and execution, and

worldwide by the end of the year. It is our

that next step and make it the beginning of a

more importantly is driven by amazing and

belief that expanding access to digital skills is

transformation that carries us into the future,

empowered people.

24 ENTREPRENEURSHIP

www.business-review.eu Business Review | September 2020

Local startups looking to bridge gap between tech and agriculture The potential digital transformation of more than 3.4 million farms in Romania could spur the creation of numerous startups that could tackle some of the biggest challenges impacting Romanian producers and pave the way for the smart farms of the future. By Ovidiu Posirca

hile European officials are exploring the way in which investments in robotics, 5G, and Artificial

Intelligence could improve the efficiency of farming, the local market is still grappling with insufficient knowhow and capital to invest in the latest technologies. â&#x20AC;&#x153;I think that technology startups targeting this sector of the economy are joined by established AgriTech providers in facing a major hurdle, i.e., a minute market caused by limited demand for technology from the Romanian agricultural sector. This is in part due to a gap in the overall strategy for public subsidies, as short term support is mostly targeted at immediate expenses and emergency relief, while long term support is mostly aimed at equipment acquisitions, without any targeted funding for investment in novel technologies, such as those needed for digital transformation,â&#x20AC;? Daniel Rosner, programme manager at Innovation Labs, tells BR. Romania has roughly 3.4 million farms, of which 2.9 million are those in which households consume more than 50 percent of final production. This places Romania first in the European Union, according to Eurostat, the statistics office of the EU. Local startup Agritech Center has created an online marketplace where farmers can trade a wide array of products and services ranging from crop inputs to equipment and repair assistance. â&#x20AC;&#x153;The main challenge is to move online as now farmers are using Facebook for their personal lives, but not for business. It is quite hard to attract them into the platforms and apps ecosystem. The pandemic will change this quickly, so our farmers The digitalization of agriculture will provide many benefits like reducing the impact that farming currently has on the environment

must learn how to use social media channels, to create a website, to install apps that help

www.business-review.eu Business Review | September May 2016 2020

ENTREPRENEURSHIP COVER STORY 14 25

them sell and promote their products,” repre-

implementation systems based on digital data

Robot Company and RootWave are develop-

sentatives of Agritech Center told BR.

management solutions,” reads a paragraph of

ing technology for a weeding robot that can

the declaration which outlines the need for

use electric current to get rid of unwanted

to EUR 60 billion in subsidies for around 10

research and an innovation infrastructure for

plants. The firms got GBP 1 million from In-

million farms under the Common Agricul-

smart farming.

novate UK to work on this project. and France are developing farming robots

tivity. From robots that can harvest crops to

INNOVATIVE APPROACHES BY STARTUPS IN EUROPE

Internet of Things solutions for farmers and

Startups across Europe are getting funding for

herbicide. “We will see a move to per plant

latest generation of digital technologies could

innovative agriculture technologies designed

precision in agriculture, and swarms of

be very useful for Romanian agriculture if

to improve the overall results of farming

smaller machines doing the work. It will com-

the Ministry of Agriculture dealt primarily

operations. In the livestock tech field, Dutch

pletely change the way we grow food — and

with the creation of specialists in agriculture,

startup Connecterra got EUR 7.8 million to

it could even change the way the countryside

animal husbandry, and other departments of

develop a system that helps dairy farmers

looks,” said Sam Watson Jones, the chief

agriculture, making it a real industry,” Mada-

monitor their herds. The concept is based on

executive of Small Robot Company, quoted

lina Ilie, founder of Romanian startup Manna

sensors fitted on the livestock. The entre-

by Sifted.eu. Meanwhile, Berlin-based Plantix

The European Union is providing close

tural Policy (CAP). The EU is also backing digital technologies that can boost produc-

Other startups in Switzerland, Denmark, that can kill weeds with a precision dose of

enhanced analysis tools for land, EU funds are used to help farms keep their competitive edge at the global level. EU representatives say that the digitalization of agriculture will provide many benefits such as reducing the impact that farming currently has on the environment. “The

Foods Solutions, told BR. Her startup is currently developing Reebo, which is the first 3D food printer in the world designed as a vending machine that

preneurs say their solution can eliminate the use of hormones in dairy

raised EUR 6.6 million for its app that helps small farmers detect plant disease

farming and cut the

and pest infestation

use of antibiot-

with a smart-

ics by 50

phone camera.

percent.

can offer cakes and

The photo taken

ready-to-eat sand-

by the farmer

wiches. Going forward,

is fed into an

the startup will focus

AI-based im-

on the development of at least two more projects that can also have a significant impact on future food concepts, which have already

age recognition

Else-

software, then the

where, Irish

app provides data on

ApisProtect

the most probable dis-

raised USD 1.8 million to develop internet-connected

ease, nutrient deficiencies,

started and are currently in the experimental

beehive sensors. The data generated by the

and relevant pests. Insect farming startup

prototype phase.

sensors is analysed by machine learning and

Ynsect has raised over EUR 175 million from

Romania has signed a European declara-

farmers can receive notifications if the bees

investors, including EUR 20 million from an

tion for a sustainable digital future of agricul-

get sick or are attacked by pests. Several

EU programme. The company uses vertical

tural and rural areas. “Europe has very valu-

startups are developing robots that can kill

farming and robots to produce insect protein

able assets to build on, such as our strength

weeds so that farmers can limit the usage of

from mealworms that can be used as animal

in robotics for precision farming and CAP

chemical-based solutions. UK-based Small

feed and fertiliser.

www.business-review.eu Business Review | September 2020

26 ENTREPRENEURSHIP

EV revolution charging local startup sector While the range of Romanian startups in the emerging electric vehicle (EV) industry has been rather limited up to now, the launch of Dacia’s first electric car, slated for 2021, could be a game changer for the local automotive market and boost entrepreneurial initiatives in this field. By Ovidiu Posirca

The International Energy Agency predicts that 55 percent of all new car sales and 33 percent of the global fleet will be electric by 2040

ar maker Dacia, which is owned by

single charge. The biggest question is where

an electric car in Romania could stimulate

France’s Renault, is planning to roll

the new vehicle will be manufactured. In

the development of a fresh wave of startups

out its own long-range of electric cars

Romania, Dacia has a large manufacturing

in the automotive industry. The charging

at very competitive prices. The first model,

base for petrol-fueled cars, so some media

infrastructure for electric cars and improved

called Dacia Spring, will be launched next

outlets have reported that the car might get

battery technologies could be a starting point

year and will be based on the Renault City

built outside the country, although a final

for the new era of mobility. “We might see

K-ZE, which is sold in China. The e-Dacia will

decision hasn’t yet been made on this matter.

something similar with this new electric

have a range of up to 200 kilometers on a

Nevertheless, the mainstream production of

project. I have no idea how many startups

www.business-review.eu Business Review | September May 2016 2020

ENTREPRENEURSHIP COVER STORY 14 27

will rise once Dacia goes electric, but we’ll

impact as it will generate opportunities for

decrease for the first time in the modern era

probably see some excitement, less range

numerous suppliers, sub-parts manufactur-

to around 1.7 million units. The report points

anxiety among Romanian drivers, and a little

ers, and integrators,” Daniel Rosner, pro-

out that this year there are over 500,000 e-

more unrest among other car makers. Let’s

gramme manager at Innovation Labs, told

buses, almost 400,000 electric delivery vans

not forget that the main reasons why the

BR. Established car producers and suppliers

and trucks, and 184 million electric mopeds,

electric market is still undeveloped are the

could provide seed capital for startups and

scooters, and motorcycles on the road glob-

lack of charging infrastructure and the price

work with entrepreneurs on the development

ally. In addition, over 7 million passenger EVs

tags which are still prohibitive for most of us.

and infrastructure and manufacturing facili-

are currently being driven internationally.

If Dacia’s electric project turns out to be as in-

ties for EVs, suggested Rosner.

“The long-term outlook for EVs remains

teresting as it sounds, they could change the

Meanwhile, more Romanians are inter-

mobility game in the entire region, undoubt-

ested in buying an EV, and the list price of

ogy improvements outweigh the short-term

edly,” Daniel Pintilie, founder of WATTO, told

such cars is reduced by around EUR 10,000

impacts of the pandemic. Some near-term EV

BR.

through a state subsidy. In the first half

model launches will be delayed, but manu-

of 2020, sales of electric cars climbed 31.6

facturers so far are sticking to their long-term

ultra-fast charging stations in Romania and

percent to 600 units compared to the same

electrification commitments,” according to

the wider Central and Eastern Europe region.

period of last year, according to the Car

the report. China and Europe will account for

ants, compared to the EU average of 52.1

Producers and Importers’ Association (APIA).

more than 70 percent of all EV sales by the

stations as of 2017, according to Eurostat,

Electric and hybrid cars had a share of 5.9

end of this decade.

the statistics office of the EU. However, the

percent of all registrations in the first half,

country has no ultra-fast charging station of

while the rest belonged to vehicles powered

would not buy more EVs if infrastructure

150 to 350 kilowatts. Across the world there

by fossil fuels.

was not better developed. “The increasing

His startup aims to develop a network of

bright, as fundamental cost and technol-

WATTO is working on units that can provide a charging level of 80 percent for car batteries in less than 10 minutes. The startup is currently looking to secure funding to build a pilot station and has also applied for EU grants. The plan is to have such high-power stations along the main European road corridors. The critical infrastructure for electric car charging is still in the early stages of development in Romania. Close to 400 charging stations were operational across the country at the end of 2019, with a half-yearly growth rate of about 30 percent. Meanwhile, some 76 percent of all charging stations in the European Union were in the Netherlands, Germany, France, and the UK. Romania had around 4.41 charging stations per 100,000 urban inhabit-

are around 632,000 public charging stations that serve an electric fleet of around 5 million vehicles, while the investments needed to build up the global electric infrastructure is

number of people and the large volumes of

COVID-19 CHALLENGES TRANSITION TO ELECTRIC FUTURE Global auto sales have been battered by

estimated at USD 6 trillion, according to a

the COVID-19 pandemic, and the auto market

report by CB Insights.

will be bumpy for the next three years,

Furthermore, the International Energy

Pintilie of WATTO suggested that people

goods require different ways of transportation, while people’s needs for mobility must be addressed in a responsible and efficient way,” says the founder. In 2019, some 240 EV companies raised

according to a BloombergNEF report. The

USD 17 billion from investors, according

Agency predicts that 55 percent of all new car

transition to electric cars will stay on track in

to a report by EVBoosters and Venture IQ.

sales and 33 percent of the global fleet will be

the long term, but there will be differences

The most active scaleup in 2019 was Rivian,

electric by 2040.

in the adoption of EVs by countries around

which raised USD 2.9 billion. The company is

the world. While global car sales are set to

set to make 100,000 electric delivery vans for

fall by 23 percent this year, EV sales will also

e-commerce giant Amazon.

“Having an electric car manufactured in Romania will have a broad positive economic

www.business-review.eu Business Review | September 2020

28 PR

Integration versus specialisation – what is the best choice for your company? In recent years, the trend among agencies has gone from 360-degree communication to specialisation; from strong, independent agencies to consolidation under a single roof of a strong group. From the idea that smaller agencies are more creative while bigger ones provide integrated and more diverse services to working more with freelancers and external specialists and outsourcing growing on both the agency and the client sides. Let’s take a look at how 2020 has changed the agency landscape and what we should look forward to in the near future. By Romanita Oprea concepts that bring results. Why do they believe that it’s time for integrated communication solutions under one roof? Because more than ever, clients need to see results, to obtain solutions and to have a partner that can provide seamless communication services from strategy and all the way to implementation, irrespective of channels. “Thinking in terms of channels is obsolete. Thinking in terms of solutions is what we do. We put together strategic and creative minds from various disciplines, to solve a client brief or problem. Having those capabilities in-house and running in sync like a perfect orchestra makes the creative process more efficient and delivers better results. We’ve always had this approach, but now I feel we have formalised it,” Oxygen’s managing partner explained. In turn, Laura Iane, creative director at pastel, believes that this is a matter of choosRaluca Mihaila, Utopic Brain

Tereza Tranakas, Oxygen

ing a business model. As far as the people of pastel are concerned, they have decided to have an integrated approach – this helps

xygen, a company founded almost

through insights, strategic approaches, and

them avoid the shallow road, offering a strong

12 years ago as a PR agency with

result-oriented integrated communication

overview which helps them build long-term

current offices in Bucharest and

campaigns.

relationships and keeps strategy and creativ-

Cluj-Napoca, took over advertising and digital

Today, the agency is structured so as to

ity at the heart of any challenge. “At the same

group Frank, and repositioned itself as an

offer strategic communication consultancy

time, this approach is not the absolute truth.

integrated communication agency. Tereza

services and integrated project management

Integrated solutions need specialised points

Tranakas took the lead at Oxygen as manag-

for its clients. Oxygen includes almost 50

of view,” Iane noted.

ing partner. Following a complex brand audit

professionals who are specialised in several

carried out last year, both on the market as

areas: advertising, PR, digital & data, social

would also be the preferred model for mar-

well as among clients and employees, the two

media, A/V production, content marketing,

keting strategist Raluca Mihaila, also Utopic

agencies decided to continue operating under

corporate communication, brand & influencer

Brain’s owner. Although specialisation is of

a single brand – Oxygen – with the headline

marketing, crisis communication, internal

great importance, being able to look around,

“With a Heart for Business.” Oxygen’s mission

communication, Public Affairs, and CSR.

professionally connect the dots and holisti-

is to sustainably grow brands and business

Together they deliver creative solutions and

cally approach your expertise from various

A mix of integration and specialisation

www.business-review.eu Business Review | September May 2016 2020

COVER STORY PR 29 14

angles is of even greater value. “There is a

good, and too slow for your own need of agil-

best product they can deliver and then sell it.

very big ‘but’ here. An expert can’t be a gener-

ity,” Mihaila warned.

Any process serving this purpose is second-

alist, so it’s really about making a choice, both

And yet, as we have all experienced, things

ary (and can be outsourced) but remains

as an agency and as a client,” Mihaila argued.

can change during a crisis, as budgets shrink

important in the products ecosystem (so the

In her view, a client is extremely comfortable

and the greatest experts (with skills that are

outsourcing should be done carefully by ex-

knowing where to find the experts on the

irrelevant in solving the crisis) can be left

perts),” said Utopic Brain’s representative.

market – the only question is whether you

aside while clients gather around the cheaper

can afford them, because top notch expertise

alternatives. In time, things realign and qual-

of a stretch. Is like thinking that a group of

is expensive, and whether you can wait for a

ity regains its reputation.

people can cover every topic in this world

free spot, as they are usually booked well in

“For business reasons, mergers and acqui-

“Advertising without outsourcing is a bit

or know every skill there is. First, I think the

advance. Moreover, it is equally comfortable

sitions, vertical and horizontal integrations

main reason for outsourcing should be adding

to go to any agency built around the principle

make sense every time an opportunity arises,

value to the table. It could be a coder or a

but I believe the wise thing to do

doctor, a dancer or a social media specialist.

is to keep divisions separated,

It really depends what you think is missing to

even independent from one

make the project insightful, real, and helpful.

another. I believe the future

It could also be that you need to make a pro-

belongs to generalists rather than

cess more efficient process through an agency

to niche experts, but I strongly

or save some money,” Laura Iane added.

feel that at any given point, when we go through a very

CHANGE FOR THE FUTURE

special challenge, we will most

As easy or as hard as the present is, we are

likely seek that specific place

always looking into the future and think-

with that specific person who

ing about how the situation of today will

is able to deliver that specific

impact the industry in the coming years. So,

solution to our specific problem,”

what should we be looking at? According to

Raluca Mihaila explained.

Tranakas, the communications industry is no

Her point of view is supported

stranger to changes, having been in constant

by both Laura Iane and Tereza

change in the past 10-20 years. Nothing stays

Tranakas. “What do we integrate

the same, and technology has really been a

if not specific ideas thought out

driver for the evolution of our market. And

by different types of specialists?

that is the exciting part of working in this

A great integrator has a strong

industry, as nobody really ever gets bored.

vision, guts, and good team of

“The pandemic is also a game changer, and

specialised people,” said Iane.

it does bring forward some of the trends that

And, according to Oxygen’s

were already being shaped in the industry –

representative, the agency of the

authenticity, no-bullshit brands, sustainabil-

of “one place for all” and, for a good enough

future is actually one that has a core team of

ity & care for the environment, digitalization,

service and an affordable amount of money,

senior communications professionals who

real-time & data, etc,” Oxygen’s representa-

solve your problem when you need it solved.

understand strategy and can provide inte-

tive argued.

“As an agency/services provider, when

grated solutions to clients, but at the same

“I don’t believe this pandemic was a big

you choose to specialise, you decide to say

time have a flexible network of collaborators

enough trigger for the communication indus-

no to all other activities you might pursue,

to tap into various consumer groups. Because

try to irremediable change. While the media

but you aim to be the greatest of the very few.

both agencies and brands need to connect

mix has already shifted towards digital, the

Plus, you get to set the price, hence narrow

directly with that end consumer, not live in a

principles they use to plan their campaigns

down the people who are able to afford you.

bubble. Therefore, involving key members of

are the same. What I believe would forever

It should be a choice based on indisputable

various communities in the creation process

change the communication industry would

available talent, skill, and intellectual prop-

will ultimately bring more authentic and

be either a stellar brand that could raise the

erty! When you build your agency around the

relevant results.

level of today’s advertising worldwide or

What about outsourcing? And why should

a collective intelligence of consumers fed

a desire to cover all areas of expertise just to

a company do it? “Because communication is

up with how advertising looks today and

make more money and constrain clients to

not the core activity of any company outside

demanding a new era. The first one is more

have to come to you, you risk becoming too

the communication industry. Companies

likely to occur during our lifetime,” Mihaila

vague in what you offer, too big for your own

should have a primary focus on delivering the

concluded.

fear of missing out on opportunities and with

www.business-review.eu Business Review | September 2020

30 REMOTE WORKING

How to boost creativity and productivity in the era of remote working The COVID-19 pandemic has changed the way we live and structure our lives from one minute to the next. And even though some categories of people were already used to working from home or from other locations rather than the regular day-to-day office, the situation has proven difficult or challenging for most of us. By Romanita Oprea

Irina Mateescu, Digitalee

Cristian Cucu, Teamogy Romania

Eglantina Becheru, Philip Morris Romania

2012 study found that when faced

Once the team was restored in the work from

at the same time. According to Anca Teletin,

with a creative task, people were

home formula, we started developing a new

chief operations officer at Grapefruit, it’s

more productive working from home,

routine: we established regular online meet-

easier to stay creative when you know you

while other research has suggested that struc-

ings with the entire organisation or for each

have a plan for any scenario. She had to con-

ture kills creativity. But nothing had really

department, we had presentations with tips &

sider the financial component and optimise

prepared us for what was going to happen this

tricks for how to better organise and separate

costs, finding alternative solutions in order to

year. Earlier, the ability to work from home

work from leisure time and space, and so on,”

ensure a healthy cash-flow. They also had to

was believed to be an important contributor

said Vasiliu.

recruit more people because of the increased

The United Media Services team also

number of requests for digital services, so she

with everyone staying at home, it has turned

found it very important to stay tuned to

planned everything out to make sure nothing

into a major factor that disturbs the work-life

“outside the organisation” environments,

was left uncovered.

balance. But what can we do to make sure we

maintain close communication with clients

can still be creative and productive? Manuela

and keep up with developments in their

media, messaging & CE manager at Philip

Vasiliu, deputy managing director at United

fields. Therefore, they were able to recom-

Morris International, says that rather than a

Media Services, believes that when looking at

mend tailored and “on-the-spot” communica-

state of mind, creativity is a state of being for

possible tips & tricks to remain creative dur-

tion solutions.

many individuals and professionals. How-

to work-life balance, but in the current reality,

ing this work-from-home pandemic environ-

In Grapefruit’s situation, even though it

In turn, Eglantina Becheru, creative lead/

ever, “staying creative during the pandemic

ment, it is important to also have an overview

was difficult in the beginning, teams were

started as a must, an opportunity to rethink

of the situation. “Fortunately, the team’s dy-

able to adapt quickly to the new conditions

our business strategies in order to bring

namism helped us to adjust quickly and keep

given the fact that they used to work from

relevance to consumers and ended up being

our focus on ongoing projects and campaigns.

home in the past too, albeit not all of them

a tremendous challenge for many industries

www.business-review.eu Business Review | September May 2016 2020

REMOTE COVER WORKING STORY 14 31

and jobs, including ours.” But it’s exactly

and capacities through a separate division

centricity’ philosophy in all the projects we

the challenge to quickly adapt to the “New

– United Interactive. Therefore, working in

develop by defining concrete empathy maps

Normal” that motivated them in the process,

digital made it a bit easier and also opened

and applying design thinking solutions to

alongside creating new routines with focus on

up opportunities faster. Many of the agency’s

every brand experience. In the end, brands

bi-weekly team catch-ups and design think-

clients moved their attention and a bigger

are made by people for people,” said Eglan-

ing exercises, uninterrupted communication

share of their resources to online communica-

tina Becheru.

(availability for team members), collaboration

tion, while those who were digitally based

with experts in trend forecasting, stretching

increased investments. More pitches were

now be found in Romania too. Teamogy is

the limits of imagination and knowledge to

also on the line and they could capitalise on

a tool that helps every business – both the

build different scenarios on weak signals that

their experience to expand their portfolio.

management and executive teams – to work

can later develop into macro-trends. Last but

Irina Mateescu had had the experience

together without the help of any other tool/

not least, staying in touch with their creative

of working from home for about 4 years (be-

application. You can chat, assign tasks, brain-

What keeps up the energy and productiv-

tween 2013 - 2017) and she believes that one’s

storm, manage tasks, budgets, timesheets,

ity levels inside Eglantina Becheru’s team

productivity level decreases after one or two

invoicing, reporting, and so on. One can even

is the openness to pilot new ideas, constant

years. “In my opinion, working from home

say that this tool is another member of the

empowerment, and resource allocation based

is not creating a work culture. It is definitely

team. “Teamogy is great, especially during

skills while making sure that no team member

a good shift for a wide range of freelancers.

this period. Even if part of your team works

is overloaded. Moreover, (re)ensuring the

When productivity starts to decrease, you can

remotely, all you need is a web browser

clarity of the desired outcome during the

switch projects among the team. Keeping a

and internet connection to make it work.

process, as well as the satisfaction of seeing

good level of energy is up to every person, so

You can get a great overview of your entire

concrete results after each initiative or project

I do not know if we can talk about patterns,”

company’s operations on-demand and in real

phase also contribute to the overall produc-

said Mateescu.

time, including job management, important

One of those tools is Teamogy, which can

partners in order to keep one eye on the present and the other one on the future. Irina Mateescu, managing partner at Digitalee, noted that working from home didn’t start with the COVID-19 pandemic. It was already a trend. We were all envious of digital nomads or other types of professionals that could work from anywhere in the world while providing evidence on social media about their out-of-office lifestyles. What the COVID-19 pandemic did to our way of working was that it disrupted communication and slowed down the effervescent lifestyle built around offices. “We kept in touch with each client and team member because we did not want to completely replace human interaction with technology,” said Mateescu.

KEEPING ENERGY AND PRODUCTIVITY LEVELS UP

tivity level.

Meanwhile, companies and agencies are

documents, time tracking and management,

using special tools to help them be more

and financial results. That will minimise

that productivity also comes from the way

efficient and productive and improve their

and lighten the administrative load. You

one structures and organises his or her work.

workflow. In Philip Morris’s case, rather than

can eliminate the chaos, as all your business

To make sure that the staff’s work-life balance

it being about tools, it is more about a phi-

data is connected and integrated into one

remained in place, their project meetings

losophy: “people centricity.” “Coaching plays

homogeneous system. It is simple and intui-

were strictly based on objectives, without any

an essential role for this and it is a two- way-

tive for daily tasks and management, as well

small talk or changing the subject.

road, as it nurtures not only the development

as cost-effective and better value for money,”

of the team I’m working with, but also my

explained Cristi Cucu, country manager at

self-development. We follow same ‘people

Teamogy Romania.

On this matter, Anca Teletin believes that

In recent years, United Media has had a focus on expanding its digital services

www.business-review.eu Business Review | September 2020

32 MACROECONOMY

Great expectations for Romania Romania has secured an EU funds package of around EUR 80 billion for the next decade – a huge amount that could ensure the modernization of the Eastern European nation and boost its convergence with western economies. By Sorin Melenciuc economies – USD 12,536 or more. In 2019, Romania’s GNI per capita calculated using the WB method reached USD 12,630, therefore it could be classified as an “upper middle-income economy” for the first time in history. This achievement comes 13 years after another major threshold: the upgrade from “lower-middle income” status to “upper-middle income” economy. In 2019, following an economic growth rate of 4.1 percent, Romania’s gross domestic product (GDP) reached a level of RON 1.06 trillion the equivalent of EUR 223.3 billion (around EUR 11,500 per capita) or USD 250.1 billion (USD 12,919 per capita), according to World Bank official data.

HISTORIC PUSH This means that the EUR 80 billion package could turn into an historic push for Romania, as the total amount is the equivalent of 36 percent of the current GDP. The sum is also on par with the current stock of foreign direct investment (FDI) in Romania, of EUR 83 billion in June 2020, according to central bank In 2019 Romania was the 24th economy in terms of GDP per capita at purchasing power parity standard

data. The bulk of FDI stock was invested during the last 13 years, since Romania joined the European Union. This fast increase in FDI stock is also the main driver of the rapid

he Romanian government has already

world this year, as its gross national income

economic development that Romania experi-

announced that much of the amount

(GNI) per capita in 2019 was slightly over

enced during the last decade – and for its new

would be spent on building or up-

the threshold set by the Word Bank for this

status of “high-income economy.”

grading infrastructure – mainly motorways, railroads, energy, and healthcare. However,

status. According to the latest thresholds de-

Historically, Romania has never been the beneficiary of such an important cash-push

spending this money could prove difficult

termined in July 2020 by the World Bank,

during such a short period of time, and the

due to a lack of project management exper-

low-income economies (a politically correct

next decade, despite the current pandemic,

tise in Romania’s public sector and lack of

name for “the third world”) are defined as

could become a rapid-development one for

coordination between its public institutions.

those with a GNI per capita, calculated using

the eastern European nation. In fact, Roma-

the World Bank Atlas method, of USD 1,035 or

nia still lags behind most other EU member

HIGH-INCOME STATUS

less in 2019, lower middle-income econo-

states in many areas, from poor infrastruc-

This pandemic-related package comes at a

mies – between USD 1,036 and USD 4,045,

ture to weak public administration.

moment when Romania has been officially

upper middle-income economies – between

Romanian transport infrastructure is

recognised as part of the “high income”

USD 4,046 and USD 12,535, and high-income

among the least developed in the European

www.business-review.eu Business Review | September May 2016 2020

Union. The motorway network currently

MACROECONOMY COVER STORY 33 14

In 2019, Romania, the 6th country in the

of major infrastructure projects due to bad

consists of around 850 kilometers and still

EU by the population size, was the 24th econ-

management, corruption or inadequate plan-

looks like a puzzle with many missing pieces.

omy in terms of GDP per capita at purchasing

ning.

All experts agree that the EU funds promised

power parity standard, with 69 percent of

to Romania during the next decade could

the EU27 average, compared to 52 percent

structure projects were cancelled due to

materialise into a major modernization of

in 2010 – an outstanding achievement. This

lack of binding offers, and experts says that

the country’s road, railway, urban, and rural

ambitious plan will consolidate Romania’s

no company was willing to submit an offer

infrastructure. But all of these together could

status as a high-income

contribute to a much higher goal: moderniz-

economy and will make the

ing and developing an entire country.

country a prime candidate

This year, three major tenders for infra-

for OECD membership.

POLITICAL OPPORTUNITY This EU-funds bonanza has become a major

POOR MANAGEMENT RISK

driver of the local political battle this year,

However, the plan faces

as the country prepares for two new rounds

huge obstacles, and many

of elections – local and parliamentary. The

are related to public man-

current Liberal government has already an-

agement. In fact, experts

nounced a EUR 100 billion plan called “We

indicate that one of the

rebuild Romania” based on huge investments

main reasons for the slow

in motorways, railroads, subway, energy, and

advancement of major mo-

urban or rural development projects.

torway projects in Romania

“The National Road Infrastructure Man-

has been the poor manage-

agement Company, through our economic

ment of state-owned road

recovery and investment programme, will

company CNAIR and the

have to manage extremely large projects.

Transport Ministry. During

We are committed to building almost 3,000

the last couple of years, the

kilometres of motorways, express roads, all

management of all major

of which are major investments,” Romanian

state-owned infrastruc-

PM Ludovic Orban recently said.

ture companies has been

The plan also includes EUR 18 billion

changed several times. De-

for railroads and major investments in new

spite the scant progress, the

hospitals and upgrades to current healthcare

promises keep on coming. In 2018, former

because technical projects or feasibility

facilities, two new units at Romania’s sole

CNAIR manager Narcis Neaga promised that

studies were very weak and real costs were

nuclear powerplant, new gas pipelines, and

Romania would have 1,000 km of motorway

actually unknown. In one case (Targu Mures

major investment in airports and ports. “The

by 2020. This promise now certainly looks

ring road), the whole project was so poorly

value of the investments programmed in the

unrealistic.

managed that no construction company took

National Energy System for the 2020-2025

The independent NGO Pro Infrastructura

it seriously. “We anticipated the main reasons for this

period is estimated at EUR 12.48 billion,

(API) estimates that only around 25 km of

from energy production to smart transmis-

new motorways will be opened this year –

failure: the highly underestimated price as-

sion networks and natural gas and electricity

two sections of A3 motorway started in 2004

sessed by CNAIR for the completion of works;

distribution,” the official government plan

to connect Bucharest with the Hungarian

the very bad technical documentation made

states.

border near Oradea.

available by CNAIR for the tender; the huge

But the plan has a higher, longer-term

If the new 25 km of new motorway do get

risks arising from the many unknowns of the

objective – achieving almost complete

completed, the total network will reach 875

documentation placed by CNAIR under the

convergence with western nations over

km at the end of this year. The NGO, which

responsibility of the builder; the mind-blow-

the next decade. “The objective of the new

monitors infrastructure projects in Romania,

ing answers provided by CNAIR to questions

model of economic development promoted

has repeatedly criticised the government’s

asked by interested builders,” Pro Infrastruc-

by the government is achieving convergence

administrators of motorway projects. Cur-

tura representatives said.

with European economies, and for the Gross

rently, only a few sections of this motorway

Experts say that the government must

Domestic Product per capita at purchasing

are completed and the whole project is to be

restructure most public agencies and compa-

power parity standard to reach 87 percent of

completed by 2027 in a best-case scenario.

nies if it is really committed to speeding up

the EU27 average by 2025,” the plan indi-

But this is not an exception, but rather a

infrastructure projects and achieving at least

cates.

rule that indicates the very poor outcome

a major part of its plan.

www.business-review.eu Business Review | September 2020

www.business-review.eu

34 MUSIC Business Review | May 2016

COVER STORY 14

The music must go on: George Enescu International Competition goes online

Photo: Andrei Gindac

The 2020 George Enescu International Competition, scheduled to take place between August 29 and September 20, is still going ahead, albeit in a new format with two distinct phases. The first two rounds of the Competition will be held online in September according to the initial calendar, whereas the Semifinals and Finals of all sections have been rescheduled for May 2021, at the Romanian Athenaeum in Bucharest. May we all live in interesting times.

The grand opening of Enescu Competition with an empty Athenaeum

“

As the COVID-19 crisis is claiming lives

EU, Eurostat estimates that by the end of the

and wreaking havoc on the global so-

year, more than 7.3 million jobs in the creative

ciety and economy, it’s difficult for us

and cultural sectors will have been affected,

By Oana Vasiliu

MUSIC DOES NOT STOP FOR FEAR OR LONELINESS. MUSIC BRINGS US CLOSER WHEN LIFE KEEPS US APART, CREATING BRIDGES OF SOLIDARITY IMMUNE TO GEOGRAPHY, SPACE OR TIME. THIS IS WHY NOW, WHEN THE PANDEMIC THREATENS THE ENESCU COMPETITION AND FESTIVAL, WE ARE MOVING FORWARD WHOLEHEARTEDLY. ‘MUSIC STARTS FROM THE HEART AND SPEAKS TO THE HEART’, AS GEORGE ENESCU SAID.

to see how the pandemic grinds the arts and

raising the issue of preserving “at all costs”

culture, although in normal times we nourish

Europe’s artistic and cultural values. In Roma-

our spirit with their beauty,” states the official

nia, the subject of the existential threat that

website of the Enescu Competition.

art and artists are facing today has not gener-

The transformation did not come easily; there

ated any concerted reaction or cohesion.

is a tumultuous history. “For Romanians – artists, musicians, or the general public – George

PANDEMIC HITS GLOBALLY According to the information provided by the

PRESERVING ENESCU’S LEGACY

Enescu’s legacy and everything that the

Enescu Competition, the Americans for the

After 1989, the Enescu Festival transformed

Festival and Competition bearing his name

Arts organisation estimates a direct financial

from a propaganda tool created by the Com-

represent today in the world are an identity

loss of more than USD 9.1 billion for the arts

munist Party in 1958, into one of the most

landmark, a restoration of dignity, a defining

as of July 13, with an addition of more than

appreciated events of its genre in the world.

emotion. The George Enescu International

USD 10.4 billion in event-related spending

Internationally, the Festival is listed in the top

Festival and Competition, the artists, the

by arts audiences at local businesses. In the

3, and the Enescu Competition is in the top 5.

organisers, the people behind the scenes, the

www.business-review.eu Business Review | September 2020

MUSIC 35

Photo: Andrei Gindac

George Enescu Philharmonic Orchestra, conducted by Josep Caballé Domenech, performing two pieces in world premiere

An audience of over 3,000 persons watched online the concert

Safety first

Photo: Alex Damian

A concert in times of pandemic

press, and the public who makes it possible

205 candidates from 39 countries reg-

Composition Section) with soloists Gyehee

every time have been met in the past with

istered to participate in the 2020 Enescu

Kim – Violin, Winner of the 2016 George

fear, censorship and prohibitions, social

Competition, of which, following the prese-

Enescu International Competition; Valentin

disorder, financial scarcity or the prospect of

lection, 272 competitors from 41 countries

Radutiu – Cello, Second Prize Winner in the

dissolution,” the organisers note.

remained. The complete lists of artists enter-

2011 George Enescu International Competi-

ing the Competition in the three sections can

tion; Viktoria Vassilenko – Piano, Winner of

be found on www.festivalenescu.ro, in the

the 2016 George Enescu International Com-

Results section.

petition and Brahms – Symphony No. 1 in C

THE 2020 PHASE OF THE ENESCU COMPETITION

minor, Op. 68.

The general public will have access to the

The 2020 Enescu Competition will start

Opening Gala and the first two rounds ex-

according to the programme on August 29,

clusively online and for free, while specta-

with the Gala Concert originally announced,

Enescu Competition will take place from May

tors who have purchased tickets and season

which will be streamed live, free of charge,

13 to 23, 2021, in Bucharest, at the Romanian

subscriptions will get their money back.

on www.festivalenescu.ro. The opening

Athenaeum, with the participation of the

The Semifinals and Finals of the 2020

will be held under the wand of conductor

George Enescu Philharmonic Orchestra and

each of the first two rounds of the Competi-

Josep Caballé Domenech, with a programme

the conductors who were originally an-

tion, the participants will send video record-

consisting of Alexandru Stefan Murariu –

nounced: Nicolas Alstaedt – Cello, Wilson

ings of their performances to the Organizing

Concerto for Clarinet and Orchestra (Win-

Hermanto – Violin, John Axelrod – Piano. The

Committee according to the initially chosen

ner of the First Prize in 2018 George Enescu

concerts from the Competition’s Final Round

repertoire, and the jury members will anal-

International Competition, Composition

will be part of the George Enescu Philhar-

yse the first two rounds of the Competition

Section) and soloist Aurelian Băcan, follow-

monic’s 2021 Season. The recitals given by

from home as well. All the recordings sent by

ing Dan Dediu – Brahmsodia, Triple Concerto

members of the jury and the winners of the

competitors will be available to the general

for Violin, Cello, Piano and Orchestra – world

2018 Competition will be organised within

public on the Enescu Competition’s website –

premiere performance (Winner of the 1991

the special session of the Semifinals and

www.festivalenescu.ro.

George Enescu International Competition,

Finals in May 2021.

All participants will be safe at home. For

www.business-review.eu Business Review | September 2020

www.business-review.eu

36 ARTReview | May 2016 Business

COVER STORY 14

Romania’s first Art Nouveau Museum opens in Oradea While many cultural initiatives have been put on hold by the coronavirus crisis, some are just blooming right now. Romania’s first Art Nouveau Museum has opened in Oradea, after a major facelift, following an EU investment. What’s behind the doors? The museum’s tour starts from the first floor

By Oana Vasiliu

he Darvas-La Roche House in Oradea, a symbolic building of the northwestern Romanian city, is now home to the first Art Nouveau Museum in the country. Since 2012, the city of Oradea

has been included in the European Art Nouveau network, along with other cities with such heritage buildings such as Vienna, Budapest, and Barcelona. The museum is a sub-section of the Oradea City Museum and it includes permanent exhibitions dedicated to “La Belle Epoque” interiors from Oradea – recreating the city’s bourgeois life with original objects such as furniture, decorations, documents, temporary exhibitions, and video mapping projections. The entire building is organised around Kitchen from “La Belle Epoque”

local artist workshops, conference rooms, theatre and event spaces. Each visit starts with the first floor of the museum, where visitors are taken back to the early 20th century. The entrance hall, dressing room, living room, gentlemen’s lounge, ladies’ lounge, maid’s room, kitchen, pantry, and the bathroom all look the way they did back in the day. At this point, access to the bedroom is restricted, but visitors can still see the white painted maple wood furniture, inherited from the last owner. The Darvas-La Roche House was built between 1909 and 1912 by the brothers László and József Vágó. The building reopened its doors after an extensive restoration project, using European funds, which started

Beautiful details in every piece of furniture

in January 2018. The new Art Nouveau Museum is open for the public from Tuesday to Sunday.

www.business-review.eu Business Review | September 2020

TOURISM 37

Spectacular accommodation in Romania for a perfect gateway With international travel restrictions still in place, vacation-goers need to focus on local tourism offers. Although Romania is not necessarily recognised as a top tourism destination, some private initiatives have managed to challenge this label. Where to, then?

By Oana Vasiliu

DISCOVER PRINCE CHARLES’S HIDDEN SPOTS IN TRANSYLVANIA

MANORS AND CASTLES Daniel Castle (Talisoara village, Covasna

INFINITY POOLS WITH SPECTACULAR VIEWS

While Viscri village has become a well-known

county) dates back from the beginning of

Cabana Barlogu (Somesu Rece, Cluj county) is

destination for any tourist who wants to enjoy

the 17th century, built by Mihály Daniel,

has an infinity pool with a breathtaking view

a bit of Transylvanian hospitality, Prince

deputy captain of Three Chairs (later Covasna

over the mountains, but the home can only

Charles and Count Kalnoky’s guesthouse in

county). Each room is different, where

be booked entirely for EUR 750/night, while

the remote village of Zalanpatak will offer

century-old wooden elements are combined

Pensiunea Ecaterina (Berzasca, Caras Severin

you a real journey back to a couple hundred

with traditional style in a modern way. Prices

county) brings you an infinity pool near the

years ago, with no Wi-Fi, radio or television

start at EUR 120/night. Polizu Manor (Iasi) is

Danube river. Prices here start from EUR 60/

to entertain yourself; just nature. Prices start

also an option: a luxury domain built in the

night.

from EUR 100 per night.

19th century, lying on top of the picturesque hills of Moldova. Prices for one night start from EUR 100.

THE WONDERS ON DANUBE RIVER Egreta complex is situated on the shores of Danube, in Caras Severin county, and the view is really breathtaking. Accommodation

ON THE WATER Bungalows near water or even on the water

OUTDOOR 5-STAR EXPERIENCE

is in individual guesthouses suspended on

are also a big hit in Romania. Zaga Zaga

Glamping resorts are the perfect new trend

pillars above the Danube, a long pontoon be-

Resort near Tecuci is almost sold out for the

for those who want to experience luxury

ing their connection with the Romanian bank

summer, but you can check out other options

tent accommodation. Check out Ursa Mica

of the river. Each bungalow is composed of

such as the Egreta Complex on the Danube

Glamping Resort or Sunrise Glamping Resort.

bedroom, living room, television, AC, terrace

river, a unique project in Europe. Prices start

Wegloo is also a new entry, with igloo accom-

and private bathroom with shower. Free Wi-

from EUR 60/night.

modation available in Azuga.

Fi access is available throughout.

www.business-review.eu Business Review | September 2020

www.business-review.eu

38 CITY Business Review | May 2016

COVER STORY 14

Cultural calendar

By Oana Vasiliu This year, the Pelicula Film Festival will be streamed online, but will also take place offline, with events happening in the openair cinema evenings at Cinema Elvire Popesco. There will be 5 films screened for the first time in Romania from September 9-13. The opening film will be Los Dias de la Ballena, the debut feature film of Colombian director Catalina Arroyave Restrepo. A story full of the colours of graffiti on the streets of Medellin, which talks about the young people’s desire to change the world. There will also be some surprises dur-

Gradina Urbana Every day

ing the festival.

Art Safari September 11-18, several locations The Art Safari series continues this September, welcoming art lovers to several spaces: the Museum Pavilion invites the public to rediscover the work of Gheorevents. What’s more, visitors of

ghe Petrascu, one of the biggest

the ASTRA Museum, the largest

masters of Romanian painting,

open-air museum in Romania,

the Central Pavilion (Bucharest

If you’re looking for live events,

Over 100 restaurants are join-

will for the first time get the

School) brings contemporary art

stand-up comedy, music, and DJ

ing ialoc Fest, and they will all

opportunity to watch films from

from the ’90s and onwards, the

sets, the recently opened Gradina

feature discount offers or special

boats floating on the lake, from

International Pavillion premieres

Urbana is the place to be. The

menus for those who want to go

Saturday to Monday, as part of

the rebellious art of anonymous

event schedule can be found on

out to eat. The festival is aimed

the festival.

feminist group Guerrilla Girls,

their Facebook page, and the

at helping out the restaurant in-

location also offers food and

dustry, which has been severely

drinks.

hit by the pandemic, and to bring in new customers for a meal. All

ialoc Fest August 31- Sept 30, at over 100 restaurants in Bucharest & Brasov

while the Sabin Balasa exhibi-

Pelicula Film Festival September 9-16, Cinema Elvire Popesco

tion celebrates a contemporary painter who is famous for his shades of blue and fairy tale-like

discounts and offers are available

characters. Meanwhile, Art Safari

on ialocfest.ro.

Kids and the Children’s Pavilion will host artworks made by the

Astra Film Festival Sept 4-14, Sibiu

little ones during lockdown,

The 27th edition of the Astra Film

dedicated to Israel and repre-

Festival will feature six world

sented by contemporary artist

premieres, nine national pre-

Gili Avissar, and the Night Tours

mieres, a film that’s eligible for a

visiting experience includes a

2021 Oscar nomination, meet-

guided tour of the exhibitions,

ings with directors, and special

live performances, and music.

the Guest Country section is

BR/09/2020

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