June 2017
OPINION
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The public institutions have a strong focus for the developing workforce. In 2016, a governmental initiative incentivised unemployed people to relocate for work, through a mobility package that covered travel expenses for commuters and it was well appreciated by foreign investors. Moreover, the current government is committed to stimulating companies to invest in the workforce. For example, firms which accept to train apprentices and trainees are reimbursed with the minimum salary. The expected upgrade for Romania from a frontier market to an emerging market will open the country to many large investors and will also improve the local financial ecosystem. Romania is attractive, of course, on fiscal side, with one of Europe’s friendliest tax regimes: corporate income and personal income tax are at 16 per cent, one of the lowest in Europe. The new 1 per cent tax rate that is applicable for micro-enterprises with at least one employee became a magnet for small and medium foreign investors. Moreover,
the corporate income tax exemption for taxpayers that exclusively perform innovation, research and development activities is well perceived by investors, after last year’s decision concerning individuals who work in research and development or the technological development fields, and who benefited from a complete exemption from tax on their employment income that was attributable to these activities. Macroeconomic indicators and financial incentives confirm the comparative advantages of Romania in the eyes of foreign investors, but we need to create a fresh story in order to reach two visionary objectives: Romania, in the top ten countries for expansion and co-location projects and Romania becoming the economic star of the CEE-based on our reputation and new investments. Our new story will be based on running faster than our neighbours, not the lion. We, the private environment, teamed with public institutions, should better be at running.
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