President Klaus Iohannis said on Saturday in Blaj that attracting foreign investment is a top priority for Romania, but Romanian capital should be equally supported.
"No doubt that attracting foreign investment is a top priority for Romania. Equally, however, we must also focus on supporting the Romanian capital and domestic investments which today are unfortunately in great pain," the head of state said according to Agerpres.
The President stressed that innovation does not occur anytime and in any way, but in particular there where there is free enterprise initiative and market economy.
"Guaranteeing property, freedom of contract, ease to start a business, free competition are essential elements in the innovation equation. We must promote and protect the institutions of the market economy for the benefit of us all," said Iohannis.
The head of state added that improving the investment climate and increasing transparency, stability and predictability of tax and regulatory framework must be an ongoing concern.
Iohannis said that we must not rely only on foreign investors' contribution in research, development and innovation.
"We primarily have a duty to support this area too. It is essential for Romania to increase spending on research and development. In fact it is essential to have a strategy of the government in this regard. It is also vital for Romania to step up efforts for improving economic competitiveness ", President Iohannis said.