Rosapepe thinks Americans keep coming to Bucharest

Several renowned American companies are interested in participating in the privatisation of Petromidia refinery, of Alro Slatina and Electroputere Craiova companies, and of Banca Agricola (the Agricultural Bank), US ambassador to Bucharest James Rosapepe stated on Tuesday.

At the opening of the forum “Romania 2000-American Investment Forum”, Rosapepe said that US groups are to invest in Romania during the following six months in domains such as high technology, real estate services, agriculture and production.

“This is a good period for investing in Romania. The acceleration of economic reforms has opened new possibilities in privatisation,” the US official thinks.

He says that negotiations for Romania’s integration in the European Union offer US companies the possibility to identify new platforms for exports aimed at Europe.

“The local economy is growing after three years of restructuring,” the US ambassador maintains.

Mr. Rosapepe considers that the most important signal for the presence of US companies in Romania will be the stand-by accord with the IMF. American investments increased by 50 percent last year, the United States becoming the second largest investor in Romania. The most recent investment, announced one week ago, will be operated by Motorola firm, which will open a software development centre.

Over the last 11 years, US companies have invested over 300 million dollars in Romania, thus ranging among countries whose companies invested large amounts in Romania. On the other hand, during the forum, three US companies announced the launch in Romania of several businesses within the IT domain. Action Watch, an online tender services supplier, will open a subsidiary in Romania, which will create software applications for the company’s web site.

This site is among the first 200 visited in the United States, with over three million users and operates monthly transactions worth 40 million dollars.

Softwin Romania and Recognos US will launch an Internet portal, called “projects virtual market,” which will allow Romanian firms to offer their services on the Internet and find business partners.

Another US firm, International Machine Tool System, announced it would create an industrial consortium and a centre of applied research at the Polytechnic University of Bucharest, which will aim at improving performances that cut down the interaction and communication time between workers and the equipment they work with.