Vietnamese businessmen mull investing in Romania

Since the inception of Romania into the EU on January 1, 2007, the country has undergone a drastic change in its political structure, said Ms Oana Bizgan, a guest speaker from Romania.

Ms Bizgan, who currently serves as an Advisor to Deputy-Prime Minister Costin Borc and as chief of staff at InvestRomania for State Secretary Manuel Costescu, said “today, Romania is one of the most politically and socially stable countries in Europe.”

She said one of the most significant advantages of investing in Romania is its strategic geographic location.

Its central location in Europe provides an easy gateway for foreign investors to access other markets within the EU and, in addition, the lucrative markets of Middle-Eastern countries.

Its highly qualified labour force is top rated in the EU and workers possess highly skilled technical qualifications while wages and salaries are some of the most reasonable in Europe.

With a gross domestic product (GDP) amounting up to approximately US$271 billion and a GDP per capita of about US$12,600, Romania is considered to be upper-middle income economy.

Ms Bizgan suggested the segments of the economy that might be of interest to Vietnamese businesses are hi-tech, electronics, telecommunications, information technology, agriculture as well as the oil and gas field.

Vo Tan Thanh, director of the Vietnam Chamber of Commerce and Industry in HCM City, in turn said the volume of trade between the two countries has not come close to its fullest potential.

One sure-fire way to bolster trade is for Vietnamese businesses to boost FDI in Romania, said Mr Thanh.

He said he was confident that increased investment combined with comprehensive marketing strategies would pay huge returns for ambitious enterprising Vietnamese entrepreneurs who are interested in expanding their footprint into the EU market.