No sector without Austrian companies in Romania

Austrian companies are still interested in Romania, despite the economic hurdles the country is still facing, but they want increased transparency from authorities, as well as steps to modernise infrastructure.

“Each day six Austrian firms are looking at the Romanian business environment,” stated Rudolf Lukavsky, the commercial advisor of Austria’s Embassy in Romania about a month ago. “Virtually, there is no field where Austrian firms should not operate in Romania”.

At present, in Romania there are 5,830 Austrian-held companies, of which 1,000 are active Austrian investors. These companies have created around 100,000 jobs domestically. The respective companies invested 500m euros in Romania last year, and the officials of Austria’s Embassy in Bucharest expect a similar value of investments this year, too.

The total investment amount, namely the overall investments Austrian players have operated in Romania after 1990, stands at 10bn euros, or 20% in total investments carried out in Romania in this period. Austria thus leads in the ranking of foreign investors in Romania.