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WELCOME to BUCHAREST

INVEST NORTHERN IRELAND TRADE MISSION TO ROMANIA 4-6 November 2012


Good to know about

ROMANIA

Invest Northern Ireland Trade Mission to Romania and Bulgaria, Bucharest 4 November, 2012


ROMANIA SIMPLY SURPRISING?

Invest Northern Ireland Trade Mission to Romania and Bulgaria, Bucharest 4 November, 2012


ROMANIA OR SIMPLY CONFUSING?

Invest Northern Ireland Trade Mission to Romania and Bulgaria, Bucharest 4 November, 2012


ROMANIA 

If you ask a Romanian consultancy company with 20 years experience in the market, we’ll tell you ‌

It is a Little Bit of Both !

Invest Northern Ireland Trade Mission to Romania and Bulgaria, Bucharest 4 November, 2012


ROMANIA Country & market overview

Invest Northern Ireland Trade Mission to Romania and Bulgaria, Bucharest 4 November, 2012


ROMANIA            

Area (sq km) Population (mil.) Capital Language Currency Current exchange rate Highest point Lowest point GDP growth (2011) Average inflation GDP per capita (2011) Unemployment

           

237.500 kmp 19.5 ( estimates 2011) Bucharest Romanian RON Romanian Lei 1Euro=4.5RON Moldoveanu Peak 2500 m Black Sea 0 m 2.5% 2.4% (6 months 2012) 8.700 USD 7.5%

Invest Northern Ireland Trade Mission to Romania and Bulgaria, Bucharest 4 November, 2012


ROMANIA 

Ranks 63 on the ease to start a business‌

Source: World Bank Doing Business Report, 2012

Invest Northern Ireland Trade Mission to Romania and Bulgaria, Bucharest 4 November, 2012


ROMANIA ‌ and 72 on the ease for doing business

Source: World Bank Doing Business Report, 2012

Invest Northern Ireland Trade Mission to Romania and Bulgaria, Bucharest 4 November, 2012


ROMANIA 



Manufacturing counts for 32% from total FDI in industry Other Foreign Direct Investments:   

19.1% Financial services & insurance 12.4 % Trade 7.4% Electricity, natural gas and water

Invest Northern Ireland Trade Mission to Romania and Bulgaria, Bucharest 4 November, 2012


ROMANIA Trade Export



45 billion Euro (+25%, 2010)

Main groups: vehicles and transport, manufacturing

Import

54.7 billion Euro (+20.5%, 2010)

Main groups: manufacturing, equipment, chemicals

Invest Northern Ireland Trade Mission to Romania and Bulgaria, Bucharest 4 November, 2012


ROMANIA Leading sectors: 1.

2. 3.

4.

Automotives: 4th largest manufacturer in CEE ( 9 billion Euro share , 2011) IT & C: 7 billion euro share in 2011 (GDP) Green Energy (18 billion euro projects investments by 2020) Oil & Gas ( 1st oil &gas producer CEE)

Invest Northern Ireland Trade Mission to Romania and Bulgaria, Bucharest 4 November, 2012


ROMANIA 5.

6. 7. 8. 9. 10.

Pharmaceutical Industry ( 2.4 billion euro market value in 2011) Telecom Industry ( 3.6 billion Euro in 2010) Food & beverages Tourism Aeronautics Shipyards

Invest Northern Ireland Trade Mission to Romania and Bulgaria, Bucharest 4 November, 2012


ROMANIA The Trade Mission Reports and Itineraries already give you the valuable inside information on opportunities for your business in Romania but also…cultural differences and local specifics can influence your business… ….so here’s what’s also good to know:

Invest Northern Ireland Trade Mission to Romania and Bulgaria, Bucharest 4 November, 2012


ROMANIA 

Romanians – “A Latin island in a Slavic see”



Business culture:   



 

Flexible (Italian Style) Creativity without borders Personal relations matter Fair English speakers (German language also popular in Transylvania) High business education profiles (in cities) High bureaucracy in government institutions

Invest Northern Ireland Trade Mission to Romania and Bulgaria, Bucharest 4 November, 2012


WHAT IMPRESSES ROMANIANS



   

Knowing the real Romania is different than media image. Using common ground statements Being open and practical Not avoiding price discussions Using Romanian words (makes an excellent impression!)

Invest Northern Ireland Trade Mission to Romania and Bulgaria, Bucharest 4 November, 2012


ROMANIA           

HELLO = Buna ziua GOODBYE = La revedere PLEASE = Va rog THANK YOU = Multumesc YOU’RE WELCOME = Cu placere YES = Da ; NO = Nu I WOULD LIKE A BEER = As dori o bere WHERE IS THE TOILET? = Unde e toaleta? I WOULD LIKE TWO BEERS = As dori doua beri I HAVE A HEADACHE = Ma doare capul I LOVE ROMANIA = Iubesc Romania

Invest Northern Ireland Trade Mission to Romania and Bulgaria, Bucharest 4 November, 2012


WHAT IMPRESSES ROMANIANS Daring to eat local food (don’t miss “sarmale cu mămăligă”)

& appreciating Romanian wines

Take your chance tonight at La Mama! Invest Northern Ireland Trade Mission to Romania and Bulgaria, Bucharest 4 November, 2012


WHAT OFFENDS ROMANIANS Nothing really but good to avoid: 

Calling the capital city BUDAPEST instead of BUCHAREST



Claiming Romanian language sounds like Russian or Hungarian.



Romania = Dracula, Ceausescu, gypsies, orphans and dogs in the streets



Not knowing who Nadia Comaneci, Hagi or Eugen Ionescu are



Gifting bouquets with even number of flowers

Invest Northern Ireland Trade Mission to Romania and Bulgaria, Bucharest 4 November, 2012


ROMANIA also good to know: 

Dracula is not real!



Romanians like to make fun of everything and most of all of themselves



Romanians are frequently late but hardly will announce



Business meetings may end with follow-up plans that are not always followed



Traffic follows no rules, everything is possible on the street keep your eyes open and your sense of humor at the highest level



and‌Dracula is not real!

Invest Northern Ireland Trade Mission to Romania and Bulgaria, Bucharest 4 November, 2012


ROMANIA Everybody in Romania is more than willing to talk about football, politics, and‌women Football: any subject will do‌

Politics: referendum and parliamentary elections on 9th December, 2012

Women: Beautiful (and) mind

Invest Northern Ireland Trade Mission to Romania and Bulgaria, Bucharest 4 November, 2012


Northern Ireland in Romania 

Habitat for Humanity NI people working team up with Romanians for building houses in Central Romania



Sunshine Foundation Romania Longer-term objective to build up to ten houses for the children living in Barsa Mica orphanage.

Invest Northern Ireland Trade Mission to Romania and Bulgaria, Bucharest 4 November, 2012


SURVIVING BUCHAREST 

Don’t be shocked if the streets of Bucharest look like the aftermath of a bombing – it’s just the eternal infrastructure work in progress…



Only use yellow taxis that have a company name and tariffs clearly written on



Always make sure the taxi meter is running



Just because the crossing light is green, it doesn’t mean that the drivers care



Use only banks to exchange currency or draw cash from ATMs

Invest Northern Ireland Trade Mission to Romania and Bulgaria, Bucharest 4 November, 2012


IF EMERGENCY SITUATION ANYWHERE IN ROMANIA DIAL

Invest Northern Ireland Trade Mission to Romania and Bulgaria, Bucharest 4 November, 2012


TAXI IN BUCHAREST 

Cobalcescu  



FLY TAXI ( VISA )  



0040 745 600 945 0040 21 9451 0040 747 99 9440; 0040 21 9440

Meridian   

0040 730 33 9444; 0040 21 9444; 0040 21 9888

Invest Northern Ireland Trade Mission to Romania and Bulgaria, Bucharest 4 November, 2012


Your meetings in Romania Andrei Sarau M: 0040 726740181 

   

BDP PDE MALLAGHAN TRACKARS

Claudiu Banu M:0040-720 720 613 

   

ABP ASSA ACKSEN GEMS

Ciprian Nanu, Partner BDGroup M:0040 744 298803 Invest Northern Ireland Trade Mission to Romania and Bulgaria, Bucharest 4 November, 2012


QUESTIONS & ANSWERS

Invest Northern Ireland Trade Mission to Romania and Bulgaria, Bucharest 4 November, 2012


Presentation BDGroup for the Northern Ireland companies , November2012