RAAPPS makes 11.3m euro eight-month profit

Regia Autonoma Administratia Patrimoniului Protocolului de Stat (RAAPS), the authority for administration of state owned property, made a 465bn ROL (11.3 million euro) profit in the first eight months of the year, 32% higher than for the same period of 2003. “Although this may come as something of a surprise, our most profitable business has been in producing documents like passports, driver’s licences, vehicle registration certificates, residence permits for foreigners or visa stickers,” said Mihai Stanculescu (photo), RAAPPS general manager. The next most profitable business for RAAPPS was rental of office space to diplomatic missions, consular offices, offices of the international intergovernmental organisations accredited in Romania and foreign individuals and legal bodies in Romania. ZF