$721.6 million in significant FDI

The foreign direct investments (FDI) likely to make a significant impact on the economy (i.e. those above $1 million) amounted to $721.6 million in the first 11 months of this year, up 8.8% from the same time last year, the Romanian Agency for Foreign Investments (ARIS) announced. From October 2001, when Law 332 on promoting FDI likely to make a significant impact on the economy enforced through late November 2003, a number of 243 investment projects worth nearly $2bn were submitted. Telecommunications are on top in terms of number of projects attracted – 20, with $389 million committed, and account for 19.6% of the total investments. Energy industry ranks second – 17 projects and $338 million committed, followed by the metallurgical industry – 10 projects, $183 million and the machine making industry – 15 projects and $138 million, as shown by ARIS data. ZF