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Romanian Labor Costs Will Soon Climb – Romanian PM

Romanian Prime Minister Calin Tariceanu said he is convinced the labor force in Romania will not continue to remain cheap, but several sectors of activity need to be developed, even the research sectors, areas in which Romania needs to become competitive.
Romanian Labor Costs Will Soon Climb - Romanian PM
16 mai 2008, 16:07, English

"I want you to understand that I am convinced Romania must not remain interesting for investors only through the cost of its labor force, which is currently low. Economic growth will be the support for the increase of salaries, therefore we have to seek to represent competitiveness and not just low-cost labor," Tariceanu said in a press conference.

Tariceanu announced he spoke with German investors, to whom he told not to have high hopes for the costs of labor, because these costs will soon climb.

"Still, we have to take care of research, innovation, the design of products where human capital can be valued and through which we might become more competitive. There also have to be changes in the education system so that we might have competent people for these sectors," Tariceanu said.