Foreign investments down 25%

The foreign investments in Romania had come to total $9.54bn by late May, $420 million more than early in the year. Still, the foreign investments actually made in the first five months of 2003 are 25% lower than in the corresponding period of 2002 ($556.4 million). Marian Saniuta, chairman of the Romanian Agency for Foreign Investments (ARIS) blames this decline on the lack of major deals, such as a privatisation. “The monthly average of the investments made between January and April 2003 was more than double the one in 2002, but May 2002 saw nearly $400 million due to a significant deal (which he did not name, i.e.), while this May saw only $75 million invested,” Saniuta said. May was actually the slowest month of this year in terms of investments thus far. Saniuta maintained his $1.8bn full-year investment estimate, adding, however, that this level would not be possible to attain in the absence of a major privatisation. ZF