DaimlerChrysler might build bus factory in Romania

American-German automotive manufacturer DaimlerChrysler could build a bus factory in Romania, George Copos, the state minister in charge of coordinating the activities related to the business environment and small and medium-sized enterprises, yesterday said.

He added he had discussed this possibility in a meeting with one of the DaimlerChrysler vice-presidents, but did not care to reveal further details.

“Romania needs a bus factory. We will need several thousand buses soon,” Copos stated.

The vice-premier yesterday said that direct foreign investment would exceed seven billion euros this year, taking into account the amount the state will get from the privatisation of Banca Comerciala Romana.

“Investments in the first two months of the year came to one billion euros. Multiply that by six, and you get six billion, add to that the money from BCR”s privatisation, the foreign investments will exceed seven billion euros this year,” Copos said at the Small and Medium-Sized Enterprise Fair.

The privatisation contract for BCR was signed last December, with the winner being Austrian Erste Bank, for 3.75 billion euros, of which the Romanian state is to get some 2.2 billion euros upon completion of the deal, scheduled for June.

The provisional data from the National Bank of Romania for the first two months of this year pointed to a direct foreign investment of one billion euros, an increase from the 515 million euros witnessed from January through to February 2005. Most of the foreign capital attracted was in form of loans granted by parent companies to subsidiaries in Romania, approximately 43% of the total.

Authorities anticipated 5.8-6.2 billion euros in foreign direct investments this year.

NBR”s provisional data for 2005 indicated 5.2 billion euros in investments, and the Romanian Agency for Foreign Investments estimates the revised level to exceed six billion euros.