about us | newsletter | contact | archive | members area
Marius Nedelcu, TransferGo
Cash will become obsolete and this will be the result of digital finance advancement»
  Features:      COUNTRY FOCUS   |   SECTOR ANALYSIS   |

Prospects of Further Development

Western Romania is a success story, considering the current and real development perspectives. The city on Bega maintains the traditional role of triggering the national development countrywide, shown by statistics ranking Timisoara as second after Bucharest in terms of business growth Text courtesy of Nicolae Robu, mayor of Timisoara

2016-06-20 17:45:00 - From the Print Edition

Both the overall GDP and the GDP per capita indicators recorded a yearly evolution compared to the national average. In this context, one can say that the growth prospects are real.

The current development comes from the fact that Timisoara continues to be attractive for investors, by offering fiscal facilities welcomed by the companies in the region, in line with their investment volumes and the created job pool. Also, the city is experienced in project development based on European funds, with a 95.34 per cent absorption rate and 100 per cent success rate for these EU funds-financed projects. This adds to multiple local projects financed by the local budget. We take great pride in the fact that the city hall of Timisoara enjoys a good reputation in terms of transparency and money spending reports and this has also resulted in a great competition among the companies, either local or international, to access the funding.

The opportunities and benefits enabling the business growth locally comprise a modern and complex infrastructure, the good connectivity due to the close highway and the international airport, the high-rated workforce, besides the fiscal facilities offered by local administration. For us, the greatest challenge is to fully develop the local capacities in terms of business development, together with the neighbouring county Arad, in order to consolidate our position as a development pole in Romania.

The dialogue between the private and public structures is considered to be efficient, because at the city hall we try to meet the need for the business development voiced by companies, by offering and enabling all the tools that are our responsibility. For instance, at the demand of the large companies operating at Timisoara in the automotive sector, we developed a local centre for training and work skill development, financed by EU funds. Also, we created the IT&C business centre. However, there is still room for improvement, especially in the sector of public-private partnership projects, to better answer the needs of the business environment. Also, at the national level, we need more predictability and stability in legislation and a simpler regulatory structure. So far, there are many rules that contradict themselves or are subject to interpretation when they have to be implemented.

At the city hall, we developed a Consultative Economic Council, where representatives of local administration and business people meet and discuss the matters that affect the business environment and where the dialogue is meant to result in concrete projects to empower the business development and the entrepreneurial education. The council is formed by 40 representative institutions operating in financial and economic sectors, from business clubs, clusters, development agencies and banks, to universities and diplomacy. The council functions as a workgroup. The short and medium term priorities are to enable the support tools for the Excellency Centre in the automotive sector and the IT&C business centre, to attract a larger commitment from universities and professional schools into the business environment, after the German model of dual education system.



COMMENTS
There are 0 comments:

 
ADD A COMMENT
 
Name
Email
Comment
Validation Code
   
 
 

0 Comments  |  42489 Views
Daily Info
Romatsa buys insurance policy for 8.4 million Euro

Romatsa, the state company that manages the air traffic control activity in Romania, has purchased insurance policies worth 39 million RON (8.4 million Euro) for its employees...

Romania's new cars sales hit 10-year record

Sales of new cars in Romania rose by 27.8 per cent in the first four months of this year, to 51,853 units, a 10-year high, according to the Automotive Manufacturers and Import...

Employees in Bucharest, Cluj, Timis and Ilfov best paid in 2018

Employees in Bucharest and the counties of Cluj, Timis and Ilfov are the best paid this year in terms of net average monthly earnings. At the opposite end are employees in the...

BearingPoint reaches 560 employees in Romania

Dutch management and technology consultancy firm BearingPoint has reached 560 employees in Romania and plans to continue hiring, local Profit.ro reported.

Taxify Comfort launches in Bucharest to compete with Uber Select

Taxify is launching a new service in Bucharest for all its users, Taxify Comfort, which will include cars of a superior class compared to its regular service, such as Audi A6,...

 
 
   
advertising

advertising

advertising

advertising

advertising

More on Features
High potential for sustainable growth on Romanian FM market

Facility Management is still a developing market in Romania, with a lot of challenges to overcome. The Romanian Facility Management Association (ROFMA) analyses the relevan...

Rising potential for green developments

With GDP growth outperforming neighbouring CEE countries by a significant extent, 2017 was very good for the real estate market in Romania, especially for the office, inves...

EnergyPal: The market must invest in innovation and develop worker qualifications

Romania's facility management sector in 2017 has seen changes in terms of increased market dynamic due to new office developments and also logistic sector growth, according...

Romanian office market ripening, in both leasing and acquisition

From the investment standpoint, lower rates of return and increased liquidity lure the investors, Andreea Paun, Managing Partner, Griffes said in an interview for The Diplo...

ISS: External FM market volume will grow as more Western European FM companies open subsidiaries in Romania

In the last few years as well as in 2017, the Romanian FM market has been in the process of maturing, focusing more and more on quality, efficiency and added value, demandi...

Digital Finance - driving force for the banking industry

Digitalization is radically transforming the banking industry, enabling new products, services and business models. This transformation will take time to complete, forcing ...

Global efforts to develop low-carbon, energy-efficient solutions

Interview with Robert Tudorache, Secretary of State, Ministry of Energy