Strengthening the business environment – a sustainable project

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Viorel Ștefan, VP
Viorel Ștefan, VP

Romania needs a competitive business environment that is based on a stable and predictable regulation system, focused on entrepreneurship, innovation and creativity, which could take our country to the top of European economies. The desire to create a framework that favours the development of the Romanian business environment certainly doesn’t only belong to those governing today, but also to Romanian entrepreneurs.

It is understood that government and the business environment are interconnected and interdependent, and the SMEs sector is one of strategic importance, which must benefit from stimulating public policies from the state.

It is very important for us to promote the establishment and development of small and mid-sized enterprises, as well as help them improve their economic performance, create new jobs, introduce disadvantaged groups, the unemployed and graduates to the labor market, and invest more in innovative technologies.

The government’s actions are aimed at strengthening a stable and predictable business environment, eliminating economically unjustified state monopolies, consolidating the free market, and increasing the transparency of government policies that come to support and develop the entrepreneurial environment.

Thanks to the measures adopted so far, Romania today offers multiple business opportunities, as the government’s main objective is to promote Romanian investors by supporting their efforts and protecting trade interests.

One of the most successful programmes, which is well-known at the national level, is Start-up Nation. The 2017 edition had 8,444 winners. In this programme, a newly-formed company can receive up to RON 200,000 in non-reimbursable funds, as we’re trying to help young people choose the path of entrepreneurship and lay the foundations for a sustainable business.

In order to complete these efforts, the UNCTAD/EMPRETEC-Romania programme was recently approve to support the development of small and mid-sized enterprises. As part of the programme, UNCTAD/EMPRETEC workshops have been funded to support SMEs in sectors of interest by developing entrepreneurial skills, in order to help future entrepreneurs gain the theoretical knowledge along with the practical applicability they need to start and develop a business.
We want therecently-launched Business Romania platform to become the main place for the development of the Romanian business environment, for finding information regarding financing options and legislation, as well as for the promotion of greenfield and brownfield projects, which can be developed through public-private partnerships together with local public authorities.

At the same time, we want to support women’s entrepreneurship, and the Multiannual national programme for the development of women’s entrepreneurship in the SMEs sector creates a legal framework and facilitates the transfer of know-how by inviting women to take part in national and international business conferences.

In 2018, through the Multiannual national micro-industrialization programme, we’ve been supporting investments in priority economic sectors, as well as the increase in the activity and the competitiveness of the SMEs in these sectors.

Also in 2018, through the Market products and services trade activity development programme, we’ve taken important steps towards supporting economic operators, commercial enterprises and cooperative enterprises, by facilitating their access to financing, in order to improve their economic and technical performances and adapt to the requirements determined by Romania’s status as an European Union Member State.

The fact that Romania continues to have the most robust economic growth in the European Union isn’t any news. Exports, consumption power, and fund absorption efforts have all seen notable growth in 2018 as well. If we look at the important investors from the US, China and Europe who are planning to expand their businesses in Romania, we can conclude that there is trust in the evolution of the Romanian economy and, implicitly, in the stability of the business environment.
The government will continue these important programmes in order to develop the Romanian business environment, and it will ensure a favorable framework for investments in order to provide opportunities to entrepreneurs who want to turn their ideas into successful businesses.

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