Romania needs specific strategy

In the absence of an aggressive and specific economic strategy, Romania will remain non-competitive on the international markets, Peter Kraljic, a consultant for McKinsey, the world’s leading management consulting firm, said while in Romania for a seminar.

“Slovenia has conducted a more aggressive export policy than Romania over the last few years. The Czech Republic had agencies created such as Czech-Invest that did nothing but attract foreign investors or CzechTrade that opened export promotion offices abroad. Hungary did the same,” Kraljic explained.

He believes Romania’s big problem is that its approach of the foreign markets is too passive.

“How many Romanian companies have their own sales networks abroad? How many have their own stores? How many Romanian companies consider acquisitions abroad? Not that many,” Kraljic says.

He says the initiative for a national economic strategy must not fall solely on the government.

“Last year a council was created in Croatia that brought together the main trade associations on the market, as well as research and statistics institutes, universities, union and employer representatives and specialists trained abroad. Six months from establishment, 20 experts in this council came up with a series of economic recommendations for the authorities,” he says.

He added the strategy needed to be as detailed as possible.

“The macroeconomic and political stability, the inflationary goals and the annual growth of the gross domestic product, which are indeed very important, are not strategy. The economy needs to be most thoroughly analysed and niche sectors that have potential identified. Then comes the second step, the organisation. What financial resources, what human resources are necessary and where to get them,” the McKinsey consultant said.
georgiana.stavarache@zf.ro