Romania will enter a boom phase in 2014 or 2015, estimated Thursday, BNR Governor adviser, Adrian Vasilescu, at a conference on foreign investment.
"The transition phase is very accentuated in Romania. In Romania, we expect to come out probably in 2014 or 2015 from the transition phase and enter the boom phase, and then there will be more foreign investment," Vasilescu said, according to Agerpres.
He pointed out that very few companies were pioneering companies who invested when the "sands were shifting," and investors typically expect things to settle.
"What investors do not know however is that Romania is among the few countries in the world that are really very good payers. Many states have been faced with many payments termination. The situation is a gray one both with the Americans, Germans, and French, and English. Not to mention the Greeks, there are dozens and dozens of entries in payments termination. Romania had only two payments termination in 1931 and in 1981, under very special circumstances. Other situations whereby Romania would have not paid its debts or met its commitments in the investment contracts do not exist, " the NBR adviser said.
Adrian Vasilescu said that foreign direct investment in Romania amounts to 60 billion Euros, of which 60% are invested in the industry. Over 70% of Romania's exports are provided by companies in which foreign capital accounts for over 10%.
NBR adviser stressed that Romania's exports increased massively since 2014 and exceeded by 4-5 times the exports rate during Ceausescu, at which time they never exceeded 10 billion dollars.