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KeysFin: Multinationals control 60 per cent of the Romanian IT sector

Large foreign investors have reached a share of over 60 per cent of the local software industry, according to a study by local financial consultancy firm KeysFin.

2017-12-08 14:53:28

Local SMEs and startups are currently facing severe market conditions. These are caused by the fierce competition of multinationals, the controversial tax decisions and the lack of economic stimulus measures, according to KeysFin.

Overall, the Romanian software industry is on a positive trend. It currently generates six per cent of the GDP, but has the potential to contribute 10 per cent to the country's GDP in the next years.

Romania had 19,068 software companies in September 2017, up 1,000 compared to September last year. The number increased by more than 8,000 compared to 2012.

The sector had a total turnover of 4.8 billion Euro last year, compared to 3 billion Euro in 2012. The profit reached 571 million Euro in 2016, double compared to five years ago.

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