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KPN International Strategic Advice

Assigned by: KPN Hogeschool van Amsterdam

Assesor: E.Halmans

Team 3: Jean Paul Vonk Tami Aboulghazi Michiel Stock Saskia Tollenaar Joost van der Lee

227680 513433 509863 237005 501622

-1- Contactpersoon: Tami Aboulghazi


Table of Contents 1. Executive summary ......................................................................................... 4

Romania 2. Country facts .................................................................................................. 6 2.1 Bureaucracy & Corruption ................................................................................................................... 6 3. Sectors .......................................................................................................... 7 3.1 Industry…..…………………………….……………………………………………………………………….7 3.2 Transport: ............................................................................................................................................ 9 3.3 Finance ................................................................................................................................................ 9 3.4 Watermanagement and water purification ........................................................................................ 10 4. Business Regions ......................................................................................... 12 4.1 West-Romania................................................................................................................................... 12 4.2 Northwest Romania ........................................................................................................................... 12 4.3 Bucharest .......................................................................................................................................... 12 4.4 Constanta .......................................................................................................................................... 13 5. Recommendation .......................................................................................... 13

Hungary 6. Country Facts ............................................................................................... 15 7. Sectors ........................................................................................................ 16 7.1 Transport ........................................................................................................................................... 16 7.2 Finance .............................................................................................................................................. 18 7.3 Industry.............................................................................................................................................. 19 7.4 Getronics ........................................................................................................................................... 19 8. Recommendations......................................................................................... 20

Norway 9 Country facts ................................................................................................. 21 10. Sectors....................................................................................................... 22 10.1 The Telecom Sector - Mobile .......................................................................................................... 22 10.2 Transport ......................................................................................................................................... 24 10.3 Industry............................................................................................................................................ 25 10.4 Finance............................................................................................................................................ 27 10.5 Geografic ......................................................................................................................................... 27 11 Recommendations ........................................................................................ 28

British Islands Guernsey 12. Country facts .............................................................................................. 29 13. Sectors....................................................................................................... 29 13.1 Transport sector .............................................................................................................................. 29 13.2 Finance............................................................................................................................................ 30 13.3 Industry............................................................................................................................................ 32

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Isle of Man 14. Country facts .............................................................................................. 33 14.1 Transport ......................................................................................................................................... 33 14.2 Finance............................................................................................................................................ 34 14.3 Industry............................................................................................................................................ 35

Jersey 15. Country facts .............................................................................................. 36 16. Sectors....................................................................................................... 36 16.1 Finance............................................................................................................................................ 36 16.2 Transport ......................................................................................................................................... 37 16.3 Industry............................................................................................................................................ 38 17. Recommendation......................................................................................... 39 17.1 Conclusion recommendation ........................................................................................................... 39 18. Sources ...................................................................................................... 40 19. Annex ........................................................................................................ 41 Annex 1 ................................................................................................................................................... 42 Annex 2 ................................................................................................................................................... 43 Annex 3 ................................................................................................................................................... 44 Annex 4 ................................................................................................................................................... 44 Annex 5 ................................................................................................................................................... 45 Annex 6 ................................................................................................................................................... 47 Annex 7 ................................................................................................................................................... 47 Annex 8 ................................................................................................................................................... 48 Annex 9 ................................................................................................................................................... 48 Annex 10 ................................................................................................................................................. 49 Annex 11 ................................................................................................................................................. 50

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1. Executive summary The assignment was to identify which part of the given countries were relevant for investment and if so where should KPN invest within that country. In this paper we have analysed four countries; namely Romania, Hungary, Norway and the British Islands. We have analysed each country according to three sectors, which are the most important ones according to KPN International. The three sectors are: transport, finance and industry. Finally we came to the following recommendations: Romania - We advice KPN International to invest and cooperate with local construction companies, because this sector will grow enormously in the following decade. Billions of euro‟s are invested by the European Union and the Romanian government in the expanding of the infrastructure. KPN can be of great value in this sector by assisting in communication between the companies involved in the large infrastructural projects. - The next important sector, we advice KPN to invest in, is the water management & purification sector of Romania. Romania is investing and upgrading its drinking and waste water infrastructure, because of the poor quality of these facilities. Because of the high knowlegde Dutch companies have in this area of expertise this development can be an opportunity for KPN International. For constructing these facilities a well developed data network and communication technology is required; therefore KPN can be of great value.

- In the finance sector the main interest for KPN should be in the growth of the internet services, such as internet banking. KPN could be of assistance in the development of internet banking and additional services. Therefore KPN should look for ways to help evolve these products by assisting the banking sector with communicational devices, technology and data-systems. Hungary - The most importance sector we advice KPN to invest in is the infrastructure. Just like in Romania, the government and the EU are investing billions of euro‟s in the infrastructure. The Hungarian government wants to double up the amount of roads. - The development of the railroad network was slowing down for a long time. On this moment MÁV (Hungarian Railroad Company) is investing in the development of the network and communication systems. We advice KPN International to investigate the possibillity to cooperate with MÁV. - Another opportunity for KPN is the e-banking market. In Hungaria there is one bank with the knowledge and capacity to serve 85% of the e-banking market. KPN should invest in smaller banks to make them more competitive in the financial sector. Norway - In 2007 Norway was worlds third oil-exporter. The biggest and most interesting company for KPN in the oil industry is STATOIL. Mainly STATOIL exports to the UK, the Benelux, Germany, French en the US. The export to these countries is interesting for KPN because of their data-network in Europe. - Mobile broadband is now a key market growth driver, as smartphones become more affordable, service costs fall and the fact that the range of mobile data applications grow is a positive trend. KPN should entrance the market like what they did in Germany and Belgium. - For KPN the increasing demand for corporate communications services from independent operators and service providers is very interesting. The major sectors are transport, industry and finance.

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British Islands On the three British Islands the most important sector is the financial sector. On Guernsey almost all all financial companies are located in the capital so all the companies are close to each other. So for KPN it is easy to reach more companies at once. Next to the financial sector on the Isle of Man there is also the low-carbon and clean-technology industry. This is Just like on the other islands the financial sector is also the most important one on Jersey. On Jersey there are two Dutch banks active. These banks are interesting for KPN International because they probably are already familiair with the services of KPN.

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Romania 2. Country facts1 Economy  Export partners: Germany 16.3%, Italy 15.4%, France 7.3%, Turkey 6.5%, Hungary 5%, Bulgaria 4.1% (2008)  Exports: $38.1 billion (2009 est.)  Import partners: Germany 16.1%, Italy 11.2%, Hungary 7.3%, Russia 5.9%, France 5.6%, Turkey 4.9%, Austria 4.8%, Kazakhstan 4.5%, China 4.2% (2008)  Imports: $49.2 billion (2009 est.)  Climate: temperate; cold, cloudy winters with frequent snow and fog; sunny summers with frequent showers and thunderstorms.  GDP: $256.3 billion (2009 est.)  GDP composition by sector: Agriculture: 12.4% Industry: 35% Services: 52.6% (2009 est.)  Labor force – by occupation Agriculture: 29.7% Industry: 23.2% Services: 47.1% (2006) Businesscentres: ...... Citizens  Population: 22,215,421 (July 2009 est.)  Age structure: 0-14 years: 15.5% (male 1,772,583/female 1,681,539) 15-64 years: 69.7% (male 7,711,062/female 7,784,041) 65 years and over: 14.7% (male 1,332,120/female 1,934,076) (2009 est.) Communications  Telephones – main lines in use: 5.036 million (2007)  Telephones – mobile telephone subscribers: 24.467 million (2008)  Telephone system: General assessment: the telecommunications sector is being expanded and modernized; domestic and international service improving rapidly, especially mobile-cellular services Domestic: more than 90 percent of telephone network is automatic; fixed-line teledensity exceeds 20 telephones per 100 persons; mobile-cellular teledensity, expanding rapidly, roughly 110 telephones per 100 persons International: country code - 40; the Black Sea Fiber Optic System provides connectivity to Bulgaria and Turkey; satellite earth stations - 10; digital, international, direct-dial exchanges operate in Bucharest (2008)  Internet hosts: 2.188 million (2009)  Internet users: 6.132 million (2008) country comparison to the world: 37  Most problematic factors for doing business in Romania (according to the World Economic 2 Form) ; see annex 3.  Stage of development; see annex 4. 3

2.1 Bureaucracy & Corruption Romania's "huge bureaucracy" means EU funds allocated to Romania are not being used, the country's President Traian Basescu told parliament in Bucharest on Monday (9 March). 1

www.cia.gov

2

Global Report – http://www.worldeconomicform.com

3

http://www.euractiv.com/en/euro/huge-bureaucracy-prevents-romania-eu-funds/article-180154

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After the collapse of communism, bureaucracy and corruption have dramatically increased in Eastern Europe and the former Soviet Union. Since both of them are "symptoms of fundamental institutional weakness" (Hellman et al., 2000b), their extent may be attributed to the specificity of the process of institutional change in a transition economy.

3. Sectors 3.1 Industry The industrial market in Romania is characterized by high demand especially from Western European companies that consider Romania to be one of the best locations for placing their investment due to factors like: low rent costs, cheap labor force, strategic location and also a great number of incentives for investors. Still, Romania is one of the least developed industrial & logistics market in the region with only 1600 hectares of land dedicated to industrial parks, while there is strong demand from foreign investors. Seizing the great potential Romania offers on the industrial real estate market, a great number of investments are in the pipeline in the next 3 years Within the industry the construction industry is one of the most interesting sectors Romania has at this moment. The infrastructure in Romania is poor compared to the rest of Europe. This could be an opportunity for KPN. Infrastructure & Construction Market

4

Following its accession to the European Union,Romania is attracting increasing attention from companies in the construction sector. In the next few years, Romania will receive EU funds totalling nearly €20bn, which will very positively affect the future growth of the construction market in this country. However, local firms will not be able to handle the completion of large infrastructure projects, hence the expected expansion of international construction enterprises in that market. 5

In 2006, the value of the Romanian construction market stood at almost €12bn, i.e. 18% up on the 2005 rating. It was the highest result ever since Romania embarked on the path of transformation – as described in detail in the report “Construction Sector in Romania 2007 with forecasts for 2007-2009”, published in March 2007 by PMR, a market research company. The Romanian economy is growing at a high rate, and construction is one of the most rapidly expanding sectors. Development prospects are similarly optimistic for the upcoming years – in 2007, construction and assembly output will climb by about 15%, while in 2008-2009, the growth rate will further go up but to a lesser extent. The key-factors of the future of the Romanian construction market: - Projected sustained growth in the GDP and capital expenditure - Financial resources provided by EU funds and increasing Foreign Direct Investments - The availability of building materials and other inputs for the construction industry resulting from the presence of international manufacturers of construction materials on the Romanian market - Opening of the construction market and accession to the EU attracting foreign enterprises to the Romanian construction market – large scale investments and acquisitions are expected, which will improve the quality of offered services and boost production capacities

4

http://www.evd.nl/zoeken/showbouwsteen.asp?bstnum=216432 http://www.pmrpublications.com/press_room/en_Romanian-construction-market-_-dynamicgrowth-and-outstanding-prospects.shtml 5

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Civil engineering construction – large infrastructure projects As in other Central and Eastern European countries, roadwork construction represents the largest part of that segment of the construction market in Romania. The main problems concerning Romanian road infrastructure include an underdeveloped road network and the very bad state of the existing roads. It is estimated that over two-thirds of the total length of the roads are in need of renovation. Romania‟s road network comprises roads with a total length of about 78,500 km. This represents 330 km per 1,000 km2 of the country‟s area. Strategic roads (national roads) total about 14,800 km, while the network of regional roads is about 35,900 km. Other roads, totalling 27,800 km, are communal roads. The network of motorways is undersized, with the length of only 230 km (1 km of motorways per 1,000 km2).

Under the current EU budget, an amount of over €4bn in financing has been allocated to the implementation of transport infrastructure projects in Romania. The Romanian government has drawn up very ambitious plans, under which close to 1,300 km of new motorways will be built by 2013, and nearly 2,000 km of national roads will be modernized and constructed within the coming two years. “The majority of large infrastructure projects will be implemented by large international consortia or construction enterprises, which will engage Romanian firms as local contractors,” adds Szymon Jungiewicz. Opportunity for KPN: Concerning the high investments the EU is realising in the Romanian infrastructure this can be of great importance for KPN. KPN can offer great WAN, mobile services and data networks for the Romanian firms and local contractors. The construction companies will have to cooperate a lot in the coming years to finish the ambitious plans of the Romanian Government. These infrastructural projects will need a good communication network and a Wide Area Reach. For example it should be possible to connect the local building manager at the construction site. Infrastructural plans;

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3.2 Transport:

In 2008, over 50 billion tonnes of cargo was transported by road. This is approximately 66 percent of the total freight. In 2013 this is expected to be 70%. Romanian transporters are increasingly driving with modern trucks. The private companies have already gained a dominant share in the road: 90 percent of the transported tonnes-kilometers are accounted for private companies. A considerable number of foreign hauliers are operating in Romania, including the Dutch Wim Bosman, KLG Europe, Verduyn Logistics and Logistics Center. Waterways/Shipping and Marine transport As of 2006, there are 1,731 km of navigable waterways of which: 1,075 km on Danube River 524 km on secondary branches 132 km on canals In 2004, according to europaworld.com, 19 million passenger-km and 4 billion tonnes-km were carried through these waterways. Constanta is the main harbour and portway to Asia. In the coming years the government is going to invest a lot in Constanta to make it the main harbour in this area with a good distribution network to the hinterland (read: European Union). International sea-borne freight traffic - Goods loaded: 18.2 million tonness - Goods unloaded: 22.3 million tonness (2004) Traveling by train The national Romanian Railway Company is CFR, and the services improve year by year. The national railway network is large, about 11,000 km long, and it spans the entire surface of Romania. Logistics Services The logistics industry is developing rapidly and the demand for logistics services is growing. Unfortunately the number of logistical areas doesnâ€&#x;t meet the requirements. The most cities are facing a shortage of suitable sites. The bulk of the logistics business focuses around Bucharest. Overall, Romania has about 1 million acres of storage. Popular locations are primarily west of Bucharest on the Bucharest-Pitesti highway and north of the city, near the airport. With the future highway (Bucharest-Constanta) on the horizon, east of Bucharest will also become more popular.

Romania has about 26,000 companies in the transport and logistics sector. Approximately 3,000 companies also offer logistics services, but only 150 of these can meet the quality requirements of international customers. Top 5 transport companies; Romania6 In annex

3.3 Finance

7

Total assets: 43 billion (about 54% of GDP) • 61% of bank assets are held by the top-five banks

6 7

http://mcir.doingbusiness.ro/en/transport-cargo http://www.efma.com/index.php/efma_observatory/defaut/index/EN/3/246 -9-


• Solvency ratio: 17.9% • Shareholding comprising mostly foreign entities

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Financial services, ING and Fortis are in Romania. Especially Internet banking will evolve.

In December 2008 the industry comprised a total assets of 84 billion euros. This is an increase of 13.8 percent compared to the same period one year earlier. The growth rate in 2007 was still significantly higher, perhaps around 50 percent. The sector is expected to shrink slightly in 2011 and increase again in 2012. In 2013, the sector is predicted to have a size of 132 billion euros. Many foreign banks have been established in the country, including the Dutch banks ING and Fortis. The five largest banks have approximately 55 percent of the market. In the medium term, the smaller banks are expected to close or merge with larger banks, so the market will consolidate. The market for commodities, such as credit cards, is almost saturated. It is expected that especially the market for Internet services, including Internet banking, will increase in importance. Also, other financial products, such as pensions, insurance and investments will increase importantly. The demand for consumer loans will increase significantly the medium term, with an average growth rate for 2013 of 11 percent per year. Top 5 banks in Romania: (all centred in Bucharest) - Banca Commerciala Romana - Banca BRD - Raiffaisen Bank Romania - HVB-Tiriac - Banca Transilvania With a market share of 4.5% Banca Transilvania is the fifth largest bank in Romania.

3.4 Watermanagement and water purification Romania is undergoing remarkable progress with regard to the upgrading of its drinking and waste water infrastructure. The focus is however on urban areas, which means that many remote rural areas will possibly miss out on the large scale water infrastructure upgrading effort. To fill this gap, Dutch experts use a four day road show to present innovative decentralized water technology solutions for rural and residential areas. Market size Romania is a member of the European Union since 2007. To meet the European directives, the country is investing heavily in the water infrastructure the coming years. The total water network is 47,778 kilometers long. Only 65 percent of Romania's population has access to the drinking-water network. In rural areas this number is even lower: only 33 percent of the rural population has available water and only 21 percent of the available water is purified. Of the Romanian population 32 percent has no access to purified water and is not connected to a wastewater treatment plant. And slightly more than half of the population, 53 percent has access to the sewerage network. The current capacity is too small and the system and the technology of wastewater treatment are outdated. The Dutch water sector has many engineering and management knowledge in the field of sanitation. Romania is therefore a promising growth market. Given the fact that Dutch companies have much knowledge of sanitation and water management, this offers opportunities for the Dutch building and sanitation expertise. Dutch companies like Ballast Nedam 8(Construction Company) are experienced in building water supplies / port facilities and are working with integrated communications of KPN 8

http://www.ballast-nedam.nl/content/files/SITE1/jaarverslagen/jaarverslag2006_verslagraadvanbestuur.pdf

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International. In 2006 they signed a contract with KPN to the Wide Area Network (WAN) and mobile telephony and data. This is an example of the importance that KPN could have within this industry. Within the water sector in Romania there are many companies that will anticipate on the need of these projects. Therefore opportunities for KPN to respond to the need for WAN, mobile telephony and data (eg construction site) will occur.

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4. Business Regions 4.1 West-Romania This is an attractive region including the cities Timisoara, Arad and Resita with respectively 325.997, 191.473 and 83.985 inhabitants Number of companies (Timisoara): 50,669 This area has seen a highly concentration of IT companies in the last decade. - High degree of urbanization. - High level of education. - Good infrastructure. - Hungarian and Slovak borders are close. - Silicon Valley of Romania, because of a highly concentration of IT companies. 4.2 Northwest Romania This region includes cities as Satu Mare, Oradea, Cluj-Napoca with 115.142, 206.614, 342.112 inhabitants respectively. Cluj-Napoca is an important economic centre in Romania. Famous local brands that have become wellknown at a national, and to some extent even international level, include: Banca Transilvania, Farmec, Jolidon, and Ursus breweries. The American online magazine InformationWeek reports that much of the software/IT activity in Romania is taking place in Cluj-Napoca, which is quickly becoming Romania's technopolis and thus overtaking that position of Timisoaraâ€&#x;s region. - Major University city; Cluj-Napoca - Many German and Hungarian investors. - Number of companies (Cluj): 60,906 4.3 Bucharest This is the most populated area with about 2.082.000 inhabitants and is the most economically-developed and industrialised city in Romania, producing around 21% of the country's GDP and about one-quarter of its industrial production, while only accounting for 9% of the country's population9. Almost one third of national taxes is paid by Bucharest's citizens and companies. Based on local purchasing power, Bucharest has a per-capita GDP of 83.8% that of the European Union average10 (2006), and more than twice the Romanian average. Based on the fact that Bucharest produces around 21% of Romanian GDP for a population of around 2 million, the GDP (PPP) per capita of the city would be US$30,057. The city's strong economic growth has revitalised infrastructure and led to the development of many shopping malls and modern residential towers and high-rise office buildings. In September 2005, Bucharest had an unemployment rate of 2.6%, significantly lower than the national unemployment rate of 5.7%.11 Bucharest's economy is mainly centred on industry and services, with services particularly growing in importance in the last ten years. The city serves as the headquarters of 186,000 firms, including nearly all large Romanian companies. An important source for growth since 2000 has been the city's property and construction boom, which has resulted in a significant growth in the construction sector. Bucharest is also Romania's largest centre for information technology and communications and is home to several software companies operating offshore delivery centers. 9

Joint Inclusion Memorandum of Romania

10 11

Danuta HĂźbner pays a visit to Romania (European Commission Press Release, 14 July 2005) Major economic indicators of Romania in the period 1 January 2005-30 October 2005, National Institute of Statistics of

Romania, 9 December 2005 (Romanian)

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- Good infrastructure. - Major business concentration. - Highest FDI (foreign direct investment). - Bucharest-most attractive East European city - Number of companies: 304,143 4.4 Constanta - Much business activity. - Transit port to and from Asia. - Number of companies: 55,066

5. Recommendation The growing economy, the high foreign direct invesments (the Netherlands is the top investor in Romania), the good relationship with the hinterland (70% of the export goes to EU-countries) and the geographic position of Romania make it an interesting opportunity for KPN. The sectors that will benefit the most from economic growth or major investments are the most interesting for KPN International to cooperate with. These opportunities are within the water management sector, the construction market (infrastructure and industrial parks) and the finance market. KPN should also keep in mind the interesting economic regions, such as the harbour area of Constanta, Bucharest, the area of Cluj and the area of Timisoara. More information about these areaâ€&#x;s can be found above. Recommendation 1 Concerning the major investments the EU and the Romanian government are planning for an expanding network of infrastructure, many local construction companies (see annex for examples) will work together with large international construcution enterprises. KPN can be of value for these companies when looking at communication, data networks and Wide Area Network. Recommendation 2 The drinking water facilities in Romania donâ€&#x;t meet the European directives and therefore Romania is

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investing and upgrading its drinking and waste water infrastructure in the coming years. Because of the high knowlegde Dutch companies have in this area of expertise this development can be an opportunity for KPN International. The connection of Dutch companies that work together with local contractors in Romania can be an advantage for KPN International. For constructing these facilities a well developed data network and communication technology is required; therefore KPN can be of great value. Recommendation 3 In the finance sector there is one aspect that can be of great interest for KPN International. The internet services of the banking industry will evolve greatly in the coming years. KPN could be of assistance in the development of internet banking and additional services. Other financial products, such as pensions, insurance and investments will increase importantly. Therefore KPN should look for ways to help evolve these products by assisting the banking sector with communicational devices, technology and data-systems.

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Hungary 6. Country Facts 

Export partners: Germany 25.4%, Italy 5.2%, Romania 5.1%, Austria 4.7%, Tawian 4.5%, Slovakia 4.5%, France 4.5%, UK 4.4% Import partners: Germany 24.6%, Russia 8.7%, China 7.2%, Austria 6%, Tawian 4.9%, Netherlands 4.4%, France 4.2%, Italy 4.1% Exports: $78.61 billion Imports: $74.56 billion GDP: $186.3 billion GDP composition by sector:

agriculture: 3.4% industry: 34.3% services: 62.4% Labor force: 4.2 million

Labor force – by occupation:

 

agriculture: 5% industry: 32.4% services: 62.6% Import from the Netherlands: 2.1 billion12 Export to the Netherlands: 1.8 billion13

Businesscentre: Central-Hungary (Budapest)

   

Citizens  Population: 9,905,596  Age structure: 0-14 years: 15% 15-64 years: 69.3% 65 years and over: 15.8% Communications  Telephones – main lines in use: 3.094 million  Telephones – mobile cellular: 12.224 million Telephone system: “General assessment: the telephone system has been modernized and is capable of satisfying all requests for telecommunication service domestic: the system is digitalized and highly automated; trunk services are carried by fiber-optic cable and digital microwave radio relay; a program for fiber-optic subscriber connections was initiated in 1996; competition among mobile-cellular service providers has led to a sharp increase in the use of mobile cellular phones since 2000 and a decrease in the number of fixed-line connections international: country code - 36; Hungary has fiber-optic cable connections with all neighboring countries; the international switch is in Budapest; satellite earth stations - 2 Intelsat (Atlantic Ocean and Indian 14 Ocean regions), 1 Inmarsat, 1 very small aperture terminal (VSAT) system of ground terminals” 12

CBS Internationale handel; in- en uitvoer naar goederengroepen CBS Internationale handel; in- en uitvoer naar goederengroepen 14 https://www.cia.gov/library/publications/the-world-factbook/geos/hu.html 13

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 Internet hosts: 2.261 million  Internet users: 5.873 million Bureaucracy The bureacracy in Hungaria is one of the most problematic factor for doing business.(annex 6) The taxes in Hungary get more and more complex. Corruption Hungary has a huge problem with corruption. In novembre 2009 nine ambassades in Budapest wrote a letter to the Hungarian government about the corruption. Large investors will pull back from Hungaria when they don‟t get a transparant investment policy. Language The language in Hungaria is another problem. Most Hungarian people don‟t speak English very well, 58% of the citizen of Hungaria don‟t speak a second language. But in the future it will and has to improve, already 34% of the Hungarian people get English on their first school. Compared to the European 15 standard of 24% it‟s quite high. European funds Between 2007-2013 Hungaria will receive European funds 16 with a total amount of €22,4 billion Infrastructure The development of the infrastructure, and roadconstruction as most important, has priority in government programmes. Before 2015 the road network has to grow with at least 2.500 km.

7. Sectors 7.1 Transport Hungary is located in Central Europe, between seven other countries; Croatia, Austria, Ukraine, Romania, Serbia, Slovenia, and Slovakia. (Annex 8) Hungary is a country that has the opportunity to be one of the most important distributors between al other parts of Europe. The Hungarian government wants to develop this opportunity so they can have a leading position in the distrubution and trading between other countries. This prioirity of th Hungarian government brings also some opportunities for companies. Especially companies that are specialized in huge infrastructure projects but it also brings opportunities for the financial sector. For this development the Hungarian government reserved a huge part of European funds (2007-2013) for the infrastructure. The total amount of these funds is €22.4 billion. To be an important distrubute country 17 they invest approximately €7,32 billion in transport.(annex 7)

15

http://www.culturescope.nl/content/view/366/47/lang,nl/ http://www.evd.nl/zoeken/showbouwsteen.asp?bstnum=212384 17 http://www.evd.nl/zoeken/showbouwsteen.asp?bstnum=212389 16

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Transport of goods (x1000 kiloton)

Road transport Rail transport Water transport Total transport

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2007 243.299 53.983 8.410 331.518

2008 258.380 51.542 8.829 343.954

Road Road transport is the most important way of transport. At least 60% of the total transport is road transport. In the coming years road transport will only grow with the investments Hungary makes, The Hungarian road network has a length of 170.000 km. In the coming years there is a priority to develop the roads that connect the European roadnetwork. In 2015 the Hungarian government wants their road network doubled up. In the future the rail roadnetwork will take over a part of the transport. Railroad The Hungarian railway network is executed by MÁV. They sold their cargo department to an Austrian company; RCA. The development of the rail roads in Hungary slowed down because there was no money to invest. In the coming years they want to invest and develop the Hungarian rail roads. Before the end of 2013 they want to complete a few projects. The most important project is the railroad between Budapest and the border with Austria. Air traffic Just like the railway network the airport at Budapest- Ferihegy is privatized. It is the only one airport that is available for cargo. Air transport is not the most important part of transport of Hungary. It‟s only 0,02% of the total transport of cargo. The Hungarian government is investing in small existing civilian and military airports. Because the airport Ferihegy is privatized the government will not invest in it, before the end of 2011 the organization of the airport wants to expand and invest €260 million for a new terminal Water The only way of transport cargo over water is the river Donau. The second important Hungarian river, the Tisza, is not yet available for cargo transport. In 2007 the government began with construction near both rivers.They also connect the Donauharbors with the road network, with this comination Hungaria can 19 increase their transport. Opportunity KPN: To develop and construct these roads within 5 years, companies have to work together to reach these goals. KPN can have a great influence on the communications between these companies. KPN can offer great WAN, mobile services and data networks for the Hungarian companies. KPN can also offer a traffic centre for the whole road network in Hungary. To develop the Hungarian railway KPN can offer several data-systems and a communication centre. In Western-Europe there are still problems with the railroad network. An example was the collision of two trains in Belgium. So the data systems are very important for the safety of the travelers. To get contracts to deliver data systems for the railroads KPN has to make sure that they can deliver high-developed and safe systems.

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http://www.evd.nl/home/landen/landenpagina/land.asp?bstnum=2397&land=hog&location=/hom e/landen/landenpagina/land.asp?land=hog&highlight=# 19 http://www.diplomatie.be/nl/press/expresstelexdetails.asp?TEXTID=94426 -17-


7.2 Finance Hungary was the first country in Central- and Eastern Europe that was in recession. The GDP in Hungary decreased with 1,5% last year. The most important reason of the recession was the crisis which involved the whole world, but another reason was the decrease of the domestic demand due to the austerity policy. In Octobre 2008 the Hungarian government asked for help of the IMF. They received an amount of €20 billion. With a few adjustments, the wages of officials etc, Hungary wants their federal budget deficit below 3%. Foreign investments

The total amount of foreign investments was €2.5 billion in 2007. Before these years the investments in Hungary were at least €5 billion.

6 5

Billion €

Banking 4 Since the worldwide financial crisis the banking in Hungary has huge liquidity 3 problems. Due to the privatization (19951996) of the financial sector it was known as 2 the most advanced in Central-Europe. Foreign banks own at least 90% of the 37 1 existing banks. Only two banks are state banks; Hungarian Development Bank and 0 the Eximbank. The Hungarian state has also 2005 2006 2007 a share of 0,3% in the OTP Bank. Almost every bank offers the possiblity to use e20 banking. The OTP bank is the largest with a market share in e-banking of 85%.

Foreign investments

2008

Almost every bank wants to expand their traditional banking activities with other services like leasing and factoring. Just like in other countries there will be changes due to e-banking. Insurance Hungary has a high competitive market in the insurance market, in 2007 there were 31 insurance companies. Most of these companies are foreign companies. In 2006 the total insurance marktet increased with 20,9%, with a total amount of €3.3 billion. Companies registred at Hungary have access to creditinsurance of Mehib, a state insurance company. Another state company is the Eximbank. Besides credits they also provide exportrelated guarantees for lower interest rates then the marketlevel. The market leader is Allianz Hungaria Insurance Rt and has a share of 20%. The second largest insurance company is Generali Providencia Rt with a share of 15%. Due to the strong position in life insurances ING 21 Insurance Private Co is the third largest insurance company. Opportunity KPN The OTP Bank is the bank with the highest market share in e-banking. KPN has the opportunity that they can offer smaller banks the possiblity of e-banking. On this way the smaller banks in Hungary can compete better with the OTP Bank.

20

http://www.hongarije-vastgoed.nl/Marktorientatie.html

21

http://www.evd.nl/zoeken/showbouwsteen.asp?bstnum=79835&location=&highlight=Dienstense ctor -18-


7.3 Industry The Hungarian industry has declined since the last two years. Another indicator of the worse economic circumstances is the decrease of the domestic sales. In 2009 the industry decreased 17,7% compared to 2008. In the past the Hungarian mining industry was very important. But since the collapse of the communism the mining industry declined. For heavy industry you need commodities. Hungary has a shortage of these commodities. Thatâ€&#x;s why Hungary is concentrated on the development and producing of electrical equipment. The industry is highly concentrated around Budapest. (Annex 9) Manufacturing is the most important component of the Hugarian industry. A few years ago at least 70% of the Hungarian industry was from manufacturing, and this will still be the same. The most important companies are in the automotive (Audi/VW, Suzuki). They are responible for about 1/3 of the industrial output. Active companies in manufacturing are especially worldwide players. They already have good datasystems where KPN cannot play a leading role anymore. 7.4 Getronics

22

KPN is already active with Getronics in Hungary.Getronics established their Global Serivce Center (GSC) in Budapest (2004). In 2006 Getronics moved their Network and Security Opereation Center from Brussel to Budapest and is now part of GSC). Thanks to their experience already in Hungary it wonâ€&#x;t be hard for KPN to becomem more active in this market.

22

http://www.netherlandschamber.hu/index.php?option=com_content&task=view&id=26&Itemid= 43 -19-


8. Recommendations

Recommendation 1 The OTP Bank is the bank with the highest market share in e-banking. KPN has the opportunity that they can offer smaller banks the possiblity of e-banking. On this way the smaller banks in Hungary can give the same service as the OTP Bank. Recommendation 2 Hungary has a special fund of â‚Ź2 billion to develop the railroad network and almost â‚Ź1.5 billion to develop the roadnetwork. To develop and construct the new roads within 5 years, companies have to work together to reach these goals. KPN can have a great influence on the communications between these companies. KPN can offer great WAN, mobile services and data networks for the Hungarian companies. KPN can also offer a traffic centre for the whole road network in Hungary. To develop the Hungarian railway KPN can offer several data-systems and a communication centre. In Western-Europe there are still problems with the railroad network. An example was the collision of two trains in Belgium. So the data systems are very important for the safety of the travelers. To get contracts to deliver data systems for the railroads KPN has to make sure that they can deliver high-developed and safe systems.

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Norway 9 Country facts

Facts about the economy, the citizens and the communications in Norway Economy  Export partners: UK 27%, Germany 12.8%, 10.4% France 9.4%, Sweden 6.5%, US 4.5%, Netherlands 2.3%.  Exports: $122 billion  Import partners: Sweden 14.3%, Germany 13.4%, Denmark 6.8%, China 6.4%, UK 5.9%, Netherlands 4.1%.  Imports: $64.5 billion  Climate: temperate along coast, modified by North Atlantic Current; colder interior with increased precipitation and colder summers; rainy year-round on west coast  GDP: $276,5 billion  GDP composition by sector: Agriculture: 2.2% Industry: 45.1% Services: 52.7%  Labor force – by occupation Agriculture: 2.9% Industry: 21.1% Services: 76%  Businesscentres: In Oslo and Trondheim. Citizens  Population: 4,660,539  Age structure: 0-14 years: 18,5% 15-64 years: 66,2% 65 years and over: 15,2% Communications  Telephones – main lines in use: 1.928 million  Telephones – mobile telephone subscribers: 5.287 million  Telephone system: General assessment: modern in all respects; one of the most advanced telecommunications networks in Europe Domestic: Norway has a domestic satellite system; moreover, the prevalence of rural araeas encourages the wide use of cellular-mobile systems instead of fixed-wire systems International: country code – 47; 2 buried coaxial cable systems; submarine cables provide links to other Nordic countries and Europe; satellite earthe stations – NA Eutelsat, NA Intelsat (atlantic Ocean), and 1 Inmarsat (Atlantic and Indian Ocean regions); note – Norway shares the Inmarsat earth station with the other Nordic countries (Denmark, Finland, Iceland, and Sweden) (1999)  Internet hosts: 3.198 million  Internet users: 3.935 million Norway has relatively the third most internet users in the world.

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Ranks out of the Global Competitiveness Report 2009: - Availibility of latest technologies, widely available ranked fourth of the whole world - Firm-level technology absorption, aggressively absorb, ranked eighth - Laws relating to ICT, well developed ranked sixth

10. Sectors

Is the telecom sector interesting for KPN?

10.1 The Telecom Sector - Mobile

Opportunities for KPN - TeliaSonera and Tele2 are the key foreign investors in this sector. - There are only two mobile network operators active in Norway - Mobile broadband is now a key market growth driver, as smartphones become more affordable, service costs fall and the range of mobile data applications grows.

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Threats for KPN - Mobile average revenue per user rates appear to either be flat or falling, could be related to the reduction of termination fees. - Telenor Mobil has a market share of 55% and NetCom has a market share of 31%, the other (MVNO) has a market share of 13%. - Mobile Norway entrance the market in 2010 with a combined 2G/3G offering.

The telecom sector – Wireline Industry

Opportunities for KPN - Fixed-wireless broadband services are likely to increase in popularity following the recent auctions of spectrum to facilitate such offerings. - There is an increasing demand for corporate communications services from independent operators and service providers, though much of this comes from Swedish multinationals doing business in Norway. Threats for KPN - Incumbent Telenor retains a dominant presence in all markets as alternative operators prefer to resell capacity on its networks and facilities, thus boosting Telenorâ€&#x;s indirect shares of interconnection traffic and revenues. - There wonâ€&#x;t be a big growth in the number of Internet users.

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10.2 Transport

Domestic transport In 2006 was 347 million tonnes of goods transported in Norway. Road transport is by far the most used transport with 253 million tonnes, followed by sea transport with 85 million tonnes. Because of the relatively small rail network with only 4000 kilometers of railroads only 4 percent of the goods are transported by rail. The transport sector is responsible for 4.6 percent of GDP and employs 127,000 people. International transport Most of the goods, to and from Norway, are transported over sea. Of the 271 million tonnes of goods in 2005 184 million tonnes was transported by ship. Nearly 70 percent of all the export was oil.

What’s interesting for Getronics in the transport of Norway? Getronics is constantly extending their networks and partnerships agreements. They simplify international contract management for their customers, providing connectivity wherever it‟s needed. In Europe is the network completely covered. The export partners of Norway are mostly Europeans, which is good for Getronics. Export partners: UK 27%, Germany 12.8%, 10.4% France 9.4%, Sweden 6.5%, US 4.5%, Netherlands 2.3%. 67% of the total transport is transported by ship. The transport companies would helped by a good network, especially when it‟s covered overseas. The other way of transport, transportation by trucks, is 46% held by Norway and 30 percent by Swedish trucks. This type of transport characterized by numerous small transport companies and some multinationals. In the second table below 23 the most interesting transport companies are.

The biggest transport companies in Norway are:    

Nor-Cargo (eigendom van Norway Post): www.norcargo.no Schenker Norge (v/h Linjegods): www.schenker.no Danzas/DHL (Deutsche Post): www.dhl.no Tollpost Globe (DFDS & Sweden Post): www.tollpost.no

Goods from Norway

Goods to Norway Total goods To The Netherlands Imports 2003 3.159.400 76.581 5.663.067 2004 3.486.146 80.652 6.150.698 2005 3.693.346 84.108 6.272.168 Transport of goods from and to Norway by road (in tonnes) Source: Statistics Norway ( www.ssb.no )

23

Marjella Wingelaar Market Adviser EVD -24-

From the Netherlands 103.773 105.979 115.206


Interesting transport companies for Getronics Company Turnover (in Number of million euro) employees Haakull 20 50

Services Active in South- and WestNorway. Sending every week 60 trucks to Europe. Transporting a lot to Germany. Stortlading en groupage

Waagan Transport

20

90

Blomquist Bulk Cargo Kingsrød Transport Universal Spedisjon

14

82

40 24

85 53

30 own and 80 hired Trucks Transports to many European cities

Cargopartner J.P. Strøm Shipping

20 6,5

70 18

Road-, sea- and airtransport Sea- and roadtransport

Norsk Trailer Express (Nortrail)

11,2

40

AS Fellestransport

10

23

Terminal in Oslo. Roadtransport across Europe. Road-, sea- and airtransport

J.Marten AS

42

76

B.H. Ramberg

15

58

Road-, sea- and airtransport, expedition and logistic. Expedition, transport and logistic.

Information about Dutch agents Agent in Holland : Road Air Transport BV (Oldenzaal)

Local distribution in many European countries. The director is Dutch honorary consul in Trondheim Agent in Nederland: Wim Bosman Expedition Agent in Nederland: Geodis Vitesse

Mainly domestic transport

Their contacts can be found in the annex. 10.3 Industry The share of industry to the gross domestic product is approximately 26% and 23% of the workforce find work. In Norway there are several numbers of industries. The aluminum and petrochemical industries are the largest.

Aluminum Industry The aluminum industry is besides the oil and gas industry the most important. After Russia Norway is the biggest aliminum producer of Europe. The most important companies:  Elkem (metal / chemical)  Norsk Hydro (electricity waterpower)  Orkla Group (chemical/Financial) 24  Tinfos (chemical) Oil industry Norway was in 2007 one of the three biggest oil-exporters in the world. Norway becomes more important for other countries because of the fossil fuel. Norway exported 3 million barrels of oil daily in 2007. Mainly 24

http://www.vakantienaarnoorwegen.nl/bedrijvendatabasenoorwegen.html -25-


Norway exports to the UK, the Benelux, Germany, French en the US, the export to this countries are interesting for KPN International because of their network in Europe. The biggest and most interesting company for KPN International in the oil industry is STATOIL. This giant is property of the Norwegian Government. Most companies operates near Stavenger. Stavenger is one of the most important offshore cities in 25 Norway. Biotechnology Market size – and development There are over the hundred biotechnology companies, the most are small and medium businesses. In 2007 they achieved a combined turnover of almost 1,34 billion euro. More than 80 percent of the Norwegian biotechnology is focused on researching cancer and is established near Oslo. Opportunity A very interesting project for Getronics is the Oslo Cancer Cluster (OCC). It is internationally recognized as „centre of excellence‟ in cancer research. Oslo belongs to the best 20 places for biotechnology in Europe. In June 2007 the Oslo Cancer Cluster was awarded the status of „Norwegian Expertise Centre” (NEC) by the government and was given the long term financing. The NEC-programme wants innovations and internationalising in clusters strengthen based on cooperation between companies, research organizations, educational and the public sector. The Dutch embassy in Oslo maintains good relations with the cluster, it could help Getronics for connecting with the cluster. Perhaps they can outsource the network division of KPN International. The information they send is sensitive and important, they need a 26 professional and high quality network, maybe there is a chance for KPN International.

25

http://www.vakantienaarnoorwegen.nl/olienoorwegen.html

26

www.oslocancercluster.no

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10.4 Finance

Norway, one of the richest countries in the world, has a small well-developed financial system. The Norwegian banking sector was dominated by huge commercial public banks. The most headquarters of the largest banks in Norway are established near the business centres in Oslo en Trondheim. In Norway DnB NOR Bank is the most interesting bank for KPN International. It is Norway‟s largest bank, offering services to the corporate, retail and securities markets and the public sector. DnB NOR has the largest customer base in the Norwegian financial market and is a leader in most domestic market segments. In Norway, DnB NOR has more than 2.2 million retail customers and more than 198,000 corporate clients, with the bank represented at 200 locations. The DnB NOR group‟s activities are primarily focused on Norway; however it is one of the world‟s foremost shipping banks and a major international player in the energy sector. It has an international network of 13 branches and representative offices, which is very interesting for KPN International, including Helsinki, Copenhagen, Hamburg, Luxembourg, London, New York. The Bank also operates on the Cayman islands to increase its profit. 27 DnBNORBank has in 2008 a turnover of 123.239 in million euro. KPN International could be an interesting partner for the banks in Norway partly because they successfully qualified for its ISO security certification, completing the long list. This certification is important for banks.

10.5 Geografic

From south to north Norway has a length of almost 2000km. It‟s also a country with one of the most mountains in Europe. Vestlandet (the west) is known because of the fjords. The main town of this area, with the most companies, is Bergen. Sørlandet (the south). Most important city is Kristianstad. Trøndelag is the area around Trondheim. Trondheim is the third largest city in Norway in size and got a 28 business centre. In the annex you will find a map with the locations of the economic activities in Norway.

27 28

www.dnbnor.com www.landweb.com -27-


11 Recommendations For KPN it is interesting to entrance the mobile market in Norway. Because there are only two key foreing investors active in the Norwegian market KPN could invest in a network in Norway. Mobile broadband is now a key market growth driver, as smartphones become more affordable, service costs fall and the fact that the range of mobile data applications grow is a positive trend. KPN should entrance the market like what they did in Germany and Belgium. For KPN the increasing demand for corporate communications services from independent operators and service providers is very interesting. The major sectors are transport, industry and finance. Norway is a real export country, 122 billion export against 64 billion import. The most export is transported by ship. And 70 percent of the export is oil. In the chapter transport you will find a list of interesting companies for KPN (the most of these companies have got an agent in the Netherlands) and the transport organizations that export to Europe. KPN can be of value for these organizations in the form of communications and data-networks. In 2007 Norway was worlds third oil-exporter. The biggest and most interesting company for KPN in the oil industry is STATOIL. Mainly STATOIL exports to the UK, the Benelux, Germany, French en the US. The export to these countries is interesting for KPN because of their data-network in Europe. In the biotechnology sector there is a project called Oslo Cancer Cluster. It is internationally recognized as „centre of excellence‟ in cancer research. Oslo belongs to the best 20 places for biotechnology in Europe. In June 2007 the Oslo Cancer Cluster was awarded the status of „Norwegian Expertise Centre” (NEC) by the government and was given the long term financing. The NEC-programme wants innovations and internationalising in clusters strengthen based on cooperation between companies, research organizations, educational and the public sector. The Dutch embassy in Oslo maintains good relations with the cluster. This could help KPN International making a connection with the cluster. Perhaps they can outsource the network division of KPN International. The information they send is sensitive and important, they need a professional and high quality network, therefore KPN International can be of great value.

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The British Islands Guernsey 12. Country facts

Guernsey is a British Crown Dependency in the English Channel off the coast of Normandy. It is situated 30 miles (48 kms) west of the coast of Normandy and 75 miles (121 kms) south of Weymouth, England. The island of Guernsey itself, it also includes Alderney, Herm, Jethou, Brecqhou, Burhou, Lihou. Guernsey is not part of the U.K. but rather a separate possession of the Crown, comparable to the Isle of Man. Guernsey is also not part of the European Union. The island of Guernsey is divided into 10 parishes. Together with Jersey, it is included in the collective grouping known as the Channel Islands. Guernsey belongs to the Common Travel Area. English is the main lanquages and is spoken by the majority of the population. The currency of Guernsey is the pound. The population of Guernsey is estimated to be 65.870 (2009). Saint Peter Port is the capital of the island. According to data from 2001, Saint Peter is the most populated parish of Guernsey with 16.488 inhabitants. The second most populated parish, Vale, has inhabitants 29 underneath the 10.000. Financial services, banking, fund management, insurance, account for about 23% of employment and about 55% of total income in this tiny, prosperous Channel Island economy. Tourism, manufacturing, and horticulture, mainly tomatoes and cut flowers, have been declining. Financial services, construction, retail, and the public sector have been growing. Light tax and death duties make Guernsey a popular tax haven. The evolving economic 30 integration of the EU nations is changing the environment under which Guernsey operates. Telecommunications of Guernsey Guernsey Telecoms which provided telecommunications was sold by the States to Cable & Wireless Newtel was the first alternative telecommunications company on the island and now provides a wide range of residential and business telecommunication services as well as high specification data centers. Wave Telecom, (owned by Jersey Telecom) also provides some telecommunications excluding local loop 31 services.

13. Sectors 13.1 Transport sector Guernsey belongs to the Common Travel Area, that allows passport-free travel to and from the UK. Railways There are currently no railway services on Guernsey. The Guernsey Railway closed in 1934. Air 29

30 31

http://en.wikipedia.org/wiki/Guernsey http://www.theodora.com/wfbcurrent/guernsey/guernsey_economy.html http://en.wikipedia.org/wiki/Guernsey#Economy

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Guernsey Airport is located 3 miles south-west of St Peter Port, the island‟s capital. Airlines operating scheduled services to and from Guernsey are Aurigny Air Services (owned by the States of Guernsey), Blue Islands, FlyBe and Air Southwest. Buses Bus services are operated by Island Coachways on behalf of the Environment Department of the States of Guernsey (the islands government). Since 2000, the number of passenger journeys by bus has been steadily increasing. The total increase over the seven years to 2007 has been 64%. Scheduled services 32 now carry over 1.4 million passengers. Sea Ferry travel is a key mode of transport in and out of Guernsey. Frequent sailings operate to England via Poole and Weymouth as well as to St Malo and Jersey. The Ferry terminal is situated in St Peter Port and is just a short walk from the centre of town. There are 33 short and long term parking facilities with space for disabled drivers. Condor Ferries operate services to Poole, Portsmouth and Weymouth in England, Cherbourg and St Malo in France, and to Jersey. Condor Ferries became the main operator to the UK following the closure of British Channel Island Ferries in 1994. Previously Sealink (and its railway ferries predecessors) had been the main operator for many decades. HD Ferries operate ferries to Jersey, St Malo and Cherbourg. The French company Manche Îles Express operates a summer passenger-only ferry service between Guernsey and three small ports in Normandy, France: Barneville-Carteret, Diélette and Granville. Not every port is served daily. The Isle of Sark Shipping Company operates small ferries to Sark. The service takes 45 minutes for the 9mile crossing. Roads Traffic in Guernsey drives on the left. Roads are generally narrow, with speed limits of 25 miles per hour in urban areas and 35 miles per hour elsewhere. Motor tax will be abolished in Guernsey from 1 January 2008. There are six taxi ranks in St Peter Port.

13.2 Finance Financial sector is the most profitable sector for the National Income of Guernsey. 40% of the profits are responsible within the financial sector. Guernsey is widely recognised as one of the world's premier international finance centres. The Island has a unique mix of talent, independence and natural assets which has enabled financial services to flourish for almost 50 years. Banking International banking groups with head offices in Switzerland, Europe, USA, the United Kingdom and a number of other international locations have established subsidiaries on the Island. Some of the most highly respected names in international finance have chosen to place their operations in Guernsey alongside independent, boutique providers. The sector provides products ranging from retail banking and savings through international wealth management to institutional business and specialist lending. Importantly it services the other financial 34 services sectors (trust, insurance, investment funds) on the Island. 32

http://www.gov.gg/ccm/navigation/government/facts---figures/facts-and-figures-booklet/ http://www.allaboutguernsey.com/harbour.asp?page_id=41 34 http://www.guernseyfinance.com/banking 33

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The top 5 of the largest international banks in Guernsey are:  The Royal Bank of Scotland (Edinburgh)  Deutsche Bank (Frankfurt)  Barclays (London) 35  BNP(Banque Nationale de Paris) Paribas (Paris) The capital of Guernsey, St. Peter Port is where these banks and many other banks are located. It is the biggest financial centers of Guernsey. Insurance The Island‟s international insurance sector comprises pure captives and commercial insurers using flexible vehicles such as protected cell companies and incorporated cell companies to write an extensive range of different business and where major growth areas are:     

ATE insurance Credit insurance Professional indemnity Reinsurance Transformer cell

Guernsey plays host to subsidiaries of major companies such as:         

35

AIG, Aon Barbican Catlin Generali Hiscox Jardine Lloyd Thompson Marsh, Old Mutual Royal & SunAlliance, SCOR and Wil

http://www.bankersalmanac.com/addcon/infobank/bank-rankings.aspx

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Independent, boutique operators such as Heritage Insurance Management and Alternative Risk Management (ARM) are also present, providing a holistic environment for insurance solutions. Indeed, approximately 40% of the UK FTSE 100 and 95 of the Global 1500 companies have captives in the Island. In addition to UK companies a number of firms in Europe, USA, Middle East, Asia, South Africa, Australia and the Caribbean have established captives in Guernsey. The financial sector is the biggest sector in Guernsey.

13.3 Industry Among the most common occupations in Guernsey are Service occupations, 23%. Production, transportation, and material moving occupations, 20%. and Sales and office occupations, 18%. Approximately 63 percent of workers in Guernsey, Wyoming work for companies, 25 percent work for the government and 5 percent are self-employed. The leading industries in Guernsey, Wyoming are Transportation and warehousing, and utilities, 21%; Educational, health and social services, 17%; and Arts, entertainment, recreation, accommodation and food services, 15%. Simply Hired's Guernsey job listings indicate that the following industries in Guernsey are hiring the most workers: Food Service Contractors, Catering Services, Hospitals, Commercial Banking and Industrial Loan Companies. The most popular companies to work for on Guernsey Island are:  Cisco Systems  Family Dollar Stores  Western History Center  Pizza Hut 36  Banner Health

36

http://www.simplyhired.com/a/local-jobs/city/l-Guernsey,+WY

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Isle of Man 14. Country facts

The Isle of Man is a self-governing British Crown Dependency, located in the Irish Sea between the islands of Great Britain and Ireland. The island is not part of the United Kingdom but its foreign relations, defence, and ultimate good governance are the responsibility of the Government of the United 37 Kingdom. The Isle of Man have 76.512 inhabitants. Offshore banking, manufacturing, and tourism are key sectors of the economy. The government's policy of offering incentives to high-technology companies and financial institutions to locate on the island has paid off in expanding employment opportunities in high-income industries. As a result, agriculture and fishing, once the mainstays of the economy, have declined in their shares of GDP. Banking and other services now contribute 42% to GDP. Trade is mostly with the UK. The Isle 38 of Man enjoys free access to EU markets. The government has invested in especially:  Energy infrastructure  Commercial sector Social and housing sectors to reduce our dependency on imported energy and to improve our economic competitiveness Telecommunications of Isle of Man The main telephone provider on the Isle of Man is Manx Telecom. At present, the island has two mobile operators: Manx Telecom, previously known as Manx Pronto, and Sure. For a short time, Cloud9 operated as a third mobile operator on the island, but has since withdrawn. Broadband internet services are available through four local providers which are Wi-Manx, Domicilium, Manx Computer Bureau and Manx Telecom. In December 2007, the Manx Electricity Authority and its telecommunications subsidiary, e-llan Communications commissioned the lighting of a new fibre-optic link that connects the island to a worldwide 39 fibre-optic network. 14.1 Transport Sea The island has a total of 688 miles of public roads, all of which are paved. Many of the roads on the island have no speed limit.The Isle of Man Sea Terminal in Douglas is served by frequent ferries to and from Liverpool and Heysham and more limited summer-only services to and from Belfast and Dublin. All ferries are operated by the Isle of Man Steam Packet Company. Air The only commercial airport on the island is the Isle of Man Airport at Ronaldsway. There are scheduled and chartered flights to numerous mainland UK airports, as well as to airports in France, Ireland, the Netherlands, Spain and Switzerland.

37

38 39

http://nl.wikipedia.org/wiki/Man_(eiland)

http://www.worldfactsandfigures.com/countries/special/man_isle_of.php http://en.wikipedia.org/wiki/Isle_of_Man -33-


Railway The island has a total of 68.5 km of railway, of which 43.5 km (27.0 miles) is electrified. There are six separate rail systems on the island:  Isle of Man Steam Railway - operated by Isle Of Man Heritage Railways  Manx Electric Railway - operated by Isle Of Man Heritage Railways  Snaefell Mountain Railway - operated by Isle Of Man Heritage Railways  Douglas Horse Tram - operated by the Douglas Borough Council  Groudle Glen Railway - operated by the Isle of Man Steam Railway Supporters' Association  Great Laxey Mine Railway - operated by the Laxey & Lonan Heritage Trust  Beginning at Peel, on the west coast of the island, one can make a 'circular tour' of the Isle of Roads Roads are named using a numbering scheme similar to those used in the numbering of roads in Great Britain and Northern Ireland; each road is assigned a letter, which represents the road's category, and a subsequent 1–2 digit number. A roads constitute the main roads of the 40 island whilst roads labelled B to D will decrease in size and or quality. 14.2 Finance The booming economy of the Isle of Man is largely due to the success of the financial services industry - the largest sector on the Island. The main activities of the sector include deposit-taking, asset protection and management, packaged investments such as unit trusts, life assurance and also corporate management. Markets for these services are world-wide and the Isle of Man has built an exceptional reputation as a centre of excellence for expatriate banking. Regulation of the finance sector in the Isle of Man is carried out by the Financial 41 Supervision Commission and the Insurance and Pensions Authority. Banking The majority of banks in the Isle of Man are engaged in providing private banking services to expatriates of the United Kingdom and to foreign nationals. The services offered by banks often extend beyond deposit taking to establishing and administering trusts and managing the underlying companies and assets held by those trusts, including investment management. A significant array of wealth management solutions have evolved to meet a growing demand. Corporate and institutional clients, such as captive insurance companies, life assurance companies and fund managers all require sophisticated banking services, particularly in the money markets, and this has led to an expansion in the continuing growth in 42 the provision of such services. The top 5 of the largest banks in Isle of Man are:  AIB Isle of Man  Alliance & Leicester International Limited  Anglo Irish Bank Corporation  Bradford & Bingley International Limited  Zurich Bank International Limited The capital of Isle of Man, Douglas is where these banks and many other banks are located. It is the biggest financial centers of Isle of Man. Insurance Over the last 25 years, the Isle of Man has developed one of the largest and best respected offshore insurance centres. The Insurance and Pensions Authority is charged with the 43 regulation of the insurance sector.

40

http://en.wikipedia.org/wiki/Transport_in_the_Isle_of_Man http://www.isleofman.com/businessandfinance/financesector.aspx 42 http://www.isleofman.com/businessandfinance/financesector/banking.aspx 43 http://www.gov.im/IPA/ 41

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14.3 Industry

Energy The council of Minister‟s Energy & Climate Change Sub-Committee (ECCC) is to ensure the 44 islands policy on energy is sustainable for the future. The three key aims are :  To maintain the security of energy supply;  To secure the efficient use of affordable energy and  To minimize the impact of our energy use on the Environment. Isle of Man is the centre of excellence for the low carbon and Clean-Technology sector. An efficient natural gas power station that has substantially reduced the CO2 emissions of Island of Man now produces electricity that is 20% cleaner than the UK grid. The island is very environmentally conscious. The most important companies on the Island of Man are:  SITA Isle of Man (a recycling and resource management company). SITA UK delivers sustainable and increasingly innovative solutions for the public, local government, industry and commerce, enabling their customers to minimize the impact of their 45 waste on the environment .  The Manx Electricity Authority (MEA) is a providing the population with a safe, reliable and economic electricity supply.  “Manx Gas Ltd is jointly owned by two partners being the International Energy Group, with gas utilities in Guernsey, Jersey and Portugal and Calor Gas Plc the principal supplier of Liquefied Petroleum Gas (LPG) products in the UK with similar interest 46 throughout main land Europe ”.  “The Isle of Man Water Authority is a statutory body and is charged with ensuring the economic, efficient and effective provision of the services and infrastructure necessary to meet the Island's needs in terms of a wholesome supply of drinking water. The principal objective is to provide a safe, reliable and high quality water supply to customers' homes backed by an equally efficient customer service. The 47 vision of the future is Crystal Clear Drinking Water for the Island's population ”. E-business Isle of Man offers:  Excellent telecoms and power infrastructures  Zero rate of corporate tax  The support of generous financial packages and a committed Government all add up to a proposition that is hard to beat. These points are oppurtunaties for companies to come over to the Isle of Man. The Isle of Man offers a great location to facilitate the growth of global e-business. With a first class telecommunications structure and a low-tax environment, it‟s able to attract e-businesses from around the globe. It is also a great location for high-tech financial services. Isle of Man offers comprehensive support services such as:  Website design  Software and hardware suppliers  Internet payment gateway facilities

44 45 46 47

http://www.gov.im/dti/Energy/energywelcome.xml http://www.sita.co.im/about-us http://www.gov.im/IsleOfMan/energy.xml http://www.gov.im/IsleOfMan/energy.xml

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Jersey 15. Country facts

Jersey is a parliamentary democracy which is a dependency of the British Crown. It is a British Island, but is not part of the United 48 Kingdom or the European Union, nor is it a colony. The island covers 45 square miles and is located 100 miles of Britain and 14 miles from its coast. Jersey is the most southerly island of the British Isles. Below the facts of Jersey: Population (juli 2009) Capital Official languages Trade language Currency

91.626 Saint Helier English, French English Pounds (£) 49

The table below describes the sectors were the most the employment is (2010) .

16. Sectors 16.1 Finance Jersey has in a few high-return sectors a lot of specialization. This is why the island has a high economic output per capita and is substantially ahead of all of the world‟s developed economies. The economy of Jersey is very depending on financial services, electronic commerce, agriculture and tourism. The financial services contribute about 60% of Jersey‟s economy. 50 Jersey is one of the world‟s leading offshore financial centers . The international financial services & legal services accounted for 53% of the total Gross Value Added (GVA) in 2007. In

48

http://www.jersey.com/english/aboutjersey/theisland/peopleandgovernment/pages/default.aspx

49

http://www.gov.je/SiteCollectionDocuments/Industry%20and%20finance/R%20Retail%20Framework%2020100323%20EDD.p df 50

http://en.wikipedia.org/wiki/Jersey#Economy

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2008 the financial sector counted around 12.000 full-time employed people. The profit of the sector in 2007 was about £ 1,5 billion; representing a real-term increase of 12% on 51 2006. The Jersey‟s Gross National Income (GNI) per capita in 2008 has been amongst the highest in the world. The Gross Domestic Product (GDP) of Jersey in 2005 was estimated at US rd $ 57.000 accoridng to the CIA World Factbook. Jersey had taken the 3 place; the other places were taken by Luxembourg and Bermuda. Banks Over one in nine of Jersey‟s population are financial services professionals and many banks, investment management companies and brokers have chosen for the centre (Saint Helier) as a base. The centre of Jersey is politically and economically stable. Although Jersey is a very small island, Jersey counts 47 registered banks. The biggest bank has 900 people in service on March 2009 and is The Royal Bank of Scotland (RBSI). Other banks in Jersey are: Employees Bank Profit Jersey Bank of Scotland International £ 39,4 Barclays Bank Finance Company (Jersey) Limited 151.3bln ING Bank (Jersey) Limited € 499 mln Kleinwort Benson £ 21 bln ABN Amro (Jersey) Limited € 3,6 bln Standard Bank Offshore

$182 bln

Where x World 500 World World x UK and islands x World Jersey, Isle of Man, x Mauritius

Tax haven Jersey is known for a tax haven; the island has no Value Added Tax (VAT) and the income tax is much more lower than in Europe. The (flat) rate for the income tax is 20%. The law of inheritance and also the exempted part of entering is more favorable for taxes. 16.2 Transport In Jersey most goods are imported and exported by Huelin-Renouf, Ferryspeed, and other smaller operators via Jersey Airport of Saint Helier. Saint Helier is the capital of the island and has a population of about 28.000 (2001), roughly 31.2% of the total population in Jersey. It is 52 also the place where the most companies are located. The import and export of goods to and from the UK were done by the British Channel Island Ferries between 1984 and 1994. Since 1952 Jersey is part of the Common Travel Area along with all of the three Channel Islands, Isle of Man, Great Britain and Ireland. The Common Travel Area implies that the 53 inhabitants of the countries can travel with a minimum of identity documents. Projects The construction of the new Energy from Waste (EFW) plant started at the beginning of 2009 with completion in 2011. This project is a complex and demanding project. Due the EFW system the advantage for Jersey is the exceptional volume reduction of waste. In other countries in the world, waste is compacted into a landfill site and buried; Jersey doesn‟t have the space for a non inert landfill site. At the moment, there is a New Energy from Waste Plant, currently under construction. This is the biggest capital project ever undetaken on the island. In 2010 and the coming years the island has the priority segregating the most harmful elements of the waste stream in order improve the enviroment. The next other transport taskes will be performed in 2010:

51

http://en.wikipedia.org/wiki/Economy_of_Jersey http://www.hoovers.com/free/geo/index.xhtml?location=/Channel+Islands/Jersey/ http://uk.local.yahoo.com/Jersey/St._Helier/Credit_%2526_Finance_Companies/uk100000139-s-538540.html 53 http://en.wikipedia.org/wiki/Common_Travel_Area 52

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  

Introduction of a Sustainable Transport Policy Provision and management of public parking facilities Improvement of access and mobility for all

Jersey is working on four major stratgies in 2010 for the island:  Solid Waste Strategy  Sustainable Transport Policy  Liquid Waste Strategy  Inert Waste Strategy The conclusion of these strategies is that the island works on the waste. The follow companies are the biggest and most important companies in Jersey in the trasnport sector:  3i Infrastructuur (investment company that invests in infrastructure businesses and assets).  PDFS LTD (provider of shared user services to all the UK‟s offshore islands and to Northern and Southern Ireland). Telecom infrastructure 54 Most of the telecoms infrastructure is owned by Jersey Telecom . Jersey Telecom, a fully incorporated private company, had a turnover in 2008 of £91.1 million, an increase of 4.8% 55 compared with 2007 . The States of Jersey owns Jersey Telecom since 2003. Aviation There is one airport in Jersey. Jersey airport is located in Saint-Peter nearby the capital Saint Helier. Jersey Airport transported 1.6 million passengers in 2008. The airport is working on an 56 improving of services for passengers . 16.3 Industry Agriculture The most important export crops in Jerseyare potatoes, cauliflower, tomatoes and flowers .These products are mostly shipped to the UK. In 2009 the Jersey Royal potato is the biggest crop export. Construction sector During 2007 the construction sector represented 5,2% of the GVA. De grew of the sector from 2006 till 2007 was 8%. In June 2008, 4.980 people worked in the construction and quarrying sector. Retail & Wholesale In June 2008 there were 6.610 persons in the retail & wholesale trades. Retail & wholesale grew by around 5% during 2007. Tourism Tourism is one of the main sources of revenue Jersey. In 2006 there wer 729.000 visitors who visit the island; this is a decreasing of 3%.

54

http://en.wikipedia.org/wiki/Economy_of_Jersey 55 http://www.jerseytelecom.com/templates/LayoutB.aspx?id=2368 56 http://en.wikipedia.org/wiki/Jersey_Airport

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17. Recommendation Guernsey The analysis showed that the financial sector is the largest and important sector of Guernsey. This sector is also the most interesting sector for KPN. The advantage is that Guernsey is a small island and the most of the largest financial companies are located in the capital. So it is easier and quicker to reach these companies. Advances in communications technology are making the world a smaller place to do business. A simple mouse click can transfer millions of dollars to the next hemisphere in an instant. Today there are rapid shifts in the world and companies need increaslingly faster data. Possible opportunities are available here for KPN. Isle of Man Isle of Man is the centre of excellence for the low carbon and Clean-Technology sector. The booming economy of the Isle of Man is largely due to the success of the financial services industry - the largest sector on the Island. The main activities of the sector include deposittaking, asset protection and management, packaged investments such as unit trusts, life assurance and also corporate management. Markets for these services are world-wide and the Isle of Man has built an exceptional reputation as a centre of excellence for expatriate banking. Regulation of the finance sector in the Isle of Man is carried out by the Financial 57 Supervision Commission and the Insurance and Pensions Authority. KPN should invest in these financial areas and develop and sell there business systems to these companies. Jersey Jersey is an island that has many opportunities in certain sectors. The financial services contribute about 60% of Jersey‟s economy. The island is in terms of financial services, particularly in the fund management sector where Jersey is a world leader. If KPN will do there business in Jersey they have to work with banks and other financial institutions, because of the impact of the financial sector. When KPN will go to Jersey and do business with a bank they should first choose:  Standard Bank Offshore  Kleinwort Benson  ING Bank (Jersey) Limited  ABN Amro (Jersey) Limited The first two banks are operating in Jersey, Isle of Man, Mauritius and the UK. KPN should also have to choose for the Dutch banks that are located in Jersey. KPN is originally a Dutch company. These two banks are probably known with the services KPN offers. This can lead to a good and efficient collaborations. 17.1 Conclusion recommendation The British Islands have a lot of oppurtunaties especially in the financial sector, this is why KPN should go to these islands. The oppurtunaties of the three islands are:  There is almost no competition on the islands for KPN in the telecommunication sector.  Guernsey is widely recognised as one of the world's premier international finance centres.  Jersey is in terms of financial services, particularly in the fund management sector where the island is a world leader.  Isle of Man is the centre of excellence for the low carbon and Clean-Technology sector and has a lot of opportunities in the energy market. KPN can offers these banks a variety of telephone and internet data network services.

57

http://www.isleofman.com/businessandfinance/financesector.aspx

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18. Sources

http://www.hollandtrade.ro/content.aspx?id=8 http://www.evd.nl/zoeken/showbouwsteen.asp?bstnum=206824&location=&highlight=Roeme nie http://www.ccimechelen.be/docu/ERGON%20ROEMENIE.ppt#291,4,Slide 4 http://www.doingbusiness.ro/ http://www.eastwards.com http://rbd.doingbusiness.ro/ro/5/evolutia-principalelor-sectoare-economice/all/257 http://rbd.doingbusiness.ro/ro/5/evolutia-principalelor-sectoare-economice/1/48/overview-ofromanian-financial-sector http://nederland.ro/vraagbaak.htm http://www.wereldinformatie.nl http://www.euractiv.com/en/euro/huge-bureaucracy-prevents-romania-eu-funds/article180154 http://findarticles.com/p/articles/mi_6773/is_2_9/ai_n36509561/ http://www.evd.nl/zoeken/showbouwsteen.asp?bstnum=216432 investeringen Orange, ECI telecom, Vodafone in Roemeense bedrijven. http://search.bnet.com/index.php?q=Romania http://www.investmentrealestateromania.eu/roemenie_europese_structuurfondsen_en_cohesi efonds_2007_2013_subsidies_roemenie

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19. Annex

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Annex 1

Construction companies ACI CLUJ S.A. Strada Dorobanţilor, Nr. 70 400609 Cluj-Napoca, CLUJ tel:+40-264-40.52.02 fax:+40-264-41.01.65

Turnover 37,434,214 EURO (2008) Employees 587

APOLODOR COM IMPEX S.R.L.

Turnover 95,514,551 EURO (2008) Employees 459

Bulevardul Theodor Pallady, Nr. 45 032258 Bucureşti, Sector 3 Tel:+40-21-345.50.30 Fax:+40-21-345.00.00 COLAS S.A. FRANTA SUCURSALA ROMANIA Strada Tudor Vianu, Nr. 3 011635 Bucuresti, Sector 1 Tel: +40-21-203.80.33 Fax:+40-21-203.80.35 CONSTRUCŢII FEROVIARE IAŞI - GRUP COLAS S.A. Strada Sergent Grigore Ioan, Nr. 10 700440 Iaşi, IAŞI Tel: +40-232-22.19.69 Fax: +40-232-22.17.27 ELECTROMONTAJ S.A. Strada Candiano Popescu, Nr. 1 Bucureşti, Sector 4 Tel: +40-21-336.75.93 Tel: +40-21-336.75.84/90 Fax: +40-21-336.74.92 Fax: +40-21-336.75.20

Turnover 80,444,092 EURO (2008)

Turnover 49,976,559 EURO (2008) Employees 1,116 Turnover 52,289,141 EURO (2008) Employees 1,491

HIDROCONSTRUCŢIA S.A. Calea Dorobanţilor, Nr. 103-105 Bucureşti, Sector 1 Tel: +40-21-208.14.00 Fax: +40-21-208.14.01

Turnover 249,477,531 EURO (2008) Employees 7,493

ROMSTRADE S.R.L. Şoseaua Giurgiu-Bucuresti, Km. 19+500 087005 Adunaţii Copăceni, GIURGIU tel: +40-246-28.20.49 fax: +40-246-28.20.49

Turnover 218,168,413 EURO (2008) Employees 1,140

SPEDITION UMB S.R.L. Strada Mărăşeşti, Nr. 145 Bacău, BACĂU Tel: +40-234-20.82.00/01/02 +40-234-20.82.03 Fax:+40-234-20.82.29

Turnover 176,363,693 EURO (2008) Employees 22 -42-


TEHNOLOGICA RADION S.R.L. Strada Dâmboviţa, Nr. 59-61 Bucureşti, Sector 6 Tel: +40-372-11.83.00 Fax: +40-372-11.83.30

Turnover 180,810,131 EURO (2008) Employees 2,329

Annex 2

Transport Companies58 AQUILA PART PROD COM S.R.L. Strada Malu Roşu, Nr. 105A 100491 Ploieşti, PRAHOVA Tel: +40-244-59.47.93 Fax: +40-244-59.47.93

COMPANIA NATIONALA DE AUTOSTRAZI SI DRUMURI NATIONALE DIN ROMANIA S.A. Bulevardul Dinicu Golescu, Nr. 38 010873 Bucureşti, Sector 1 Tel: +40-21-318.66.01 Fax: +40-21-312.09.84

EDY INTERNATIONAL SPEDITION S.A. Calea Zarandului, Nr. 258 Deva, HUNEDOARA Tel: +40-254-20.68.00 Fax: +40-254-20.68.18

PA & CO INTERNATIONAL S.R.L. Strada Principală, Nr. 557 Oituz, BACĂU Tel: +40-234-33.77.00 Fax: +40-234-33.77.05

REGISTRUL AUTO ROMÂN R.A. Calea Griviţei, Nr. 391A Bucureşti, Sector 1 Tel:+40-21-202.70.00 – centrala Fax:+40-21-318.17.54/72

58

http://mcir.doingbusiness.ro/en/transport-cargo -43-

Turnover 92,883,811 EURO (2008) Employees 1,427

Turnover 74,611,762 EURO (2008) Employees 1,428

Turnover 185,279,486 EURO (2008) Employees 6,405

Turnover 63,619,401 EURO (2008) Employees 715

Turnover 57,918,437 EURO (2008) Employees 1,531


Annex 3

59

Annex 4

60

59 60

http://www.weforum.org/en/index.htm http://www.weforum.org/en/index.htm -44-


Annex 5

61

61

http://www.pmrpublications.com -45-


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Annex 6

62

Annex 7

63

62 63

The Global Competitiveness Report 2009-2010 World Economic Forum http://www.evd.nl/zoeken/showbouwsteen.asp?bstnum=212389 -47-


Annex 8

Annex 9 Industrial parks Hungary (concentrated at Budapest).

64

64

http://www.itdh.com/engine.aspx?page=Itdh_IndustrialParks -48-


Annex 10

Map of the locations of the industries in Norway

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Annex 11 Contact transport companies Norway 

Håkull AS Stokkamyrveien 22, 4313 Sandnes Telefoon: +47 5163 6060 Fax: +47 5163 6050 E-mail: haakull@haakull.no Internet: www.haakull.no Waagan Transport AS Blindheim Industrivei 4, 6020 Å lesund Telefoon: +47 7019 7000 Fax: +47 7019 7001 E-mail: post@waagan.no Internet: www.waagan.no Blomquist Bulk Cargo AS P.O.Box 46 , 3960 Stathelle Telefoon: +47 3596 8980 Fax: +47 3596 8981 E-mail: jan.heramb.karlsen@bbc.as Internet: www.bbc.as Kingsrød Transport P.O.Box 513, 1703 Sarpsborg Telefoon: +47 6911 1500 Fax: +47 6916 4266 Internet: www.kingsrod.no Universal Spedisjon P.O.Box 706, 0106 Oslo Telefoon: +47 2321 3400 Fax: +47 2321 3480 E-mail: mail@unisped.no Internet: www.unisped.no Cargopartner AS P.O.Box 63 , 0915 Oslo Telefoon: +47 2413 4000 Fax: +47 2413 4001 E-mail: cargopartner@cargopartner.no Internet: www.cargopartner.no J.P. Strøm Shipping Pir II Nr. 10, 7412 Trondheim Telefoon: +47 7353 9300 Fax: +47 7353 9373 E-mail: firmapost@jps.no Internet: www.jps.no Norsk Trailer Express AS P.O.Box 3 , 0614 Oslo Telefoon: +47 2280 1700 Fax: +47 22 80 1770 E-mail: nortrail@nortrail.no Internet: www.nortrail.no

AS Fellestransport P.O.Box 213, 0614 Oslo Telefoon: +47 2290 6200 Fax: +47 2290 6300 E-mail: firmapost@fellestransport.no Internet: www.fellestransport.no

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Strategic plan KPN  

KPN Romania, Hungary and Norway

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