Austrian Cos Still Interested In Romania, But Require Transparency

Austrian companies are still interested to invest in Romania, but they ask for more transparency, efficiency and consistency in public administration, as well as the improvement of the legal system, according to Rudolf Lukavsky, representative of the Austrian Embassy to Bucharest.

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Austria is the largest investor in Romania, with an overall amount of EUR10 billion invested at the end of 2009, namely 20% of the total foreign direct investments in the Eastern European country.

According to Lukavsky, Commercial Counselor within the Embassy, Austrian companies are eager to develop investment in Romania, but they require a stable business environment.

There are over 5,800 Austrian-owned companies in Romania, and over 1,000 active Austrian investors.

The Embassy official went on saying that, despite difficulties on the local market, no major investor has withdrawn from Romania so far.

In his opinion, Austrian investors see potential in research and development, alternative energy, industrial equipment supply and the car parts industry.

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