Representatives of six German and Romanian companies have recently explored the business potential of the Bucovina region, with local administration officials in Suceava County and central administration officials pledging support for companies interested in expanding their businesses or making investment in the area, the Romanian-German Chamber of Commerce and Industry (AHK Romania) reported on Tuesday.
Among the areas where investment can be made in the area, the Nord-Est development region, are technologies for agricultural equipment and machinery, for the textile industry, in the biorefinery area, in the automotive industry, healthcare industry, especially in imaging equipment, energy, construction materials, and design services.
The two-day field trip to Bucovina was organized by AHK Romania, in partnership with Siret City Hall and with support from the Suceava County Council.
„We are wide open to reindustrialising this area. The county I represent is unfortunately a champion in the export of labour. However, businesspeople are starting to look more closely in this part of the country. I want investors to cross the Carpathians, you have the guarantee that we are partners, and we know what you want,” said Gheorghe Flutur, chairman of the Suceava County Council, in the opening of the conference „Hotspot Bucovina,” an event that took place at the new Scientific and Technological Park of Siret.
He added that the administrations are preparing the development of the area, including by opening new border crossings with Ukraine and through railway and motorway projects to help in the future the reconstruction of Ukraine.
In his turn, AHK Romania Director General Sebastian Metz voiced confidence that the business ties between Moldova and the rest of Romania are showing up. „We hope to increase our activity and increase the German presence. We all want people not to leave for other areas in Romania or abroad, but for that we must give them reasons to stay. We see in today’s event a step forward in trying to stimulate people to stay here,” he said.
One of the measures taken to draw investments is the construction on European funds of the Siret Science and Technology Park, completed last December.
Senior official with the Ministry of Finance Alin Marius Andries said that investors will find a partner in the ministry he represents and the Romanian Government: „Romania’s advantages are political and social stability, economic growth, which is due to investments. For 2024, we have allocated 7% of GDP for investment, mostly directed towards infrastructure. The A7 motorway is very important for all Moldova, but local investments are also needed,” said the official.
Debated at a discussion panel focused on the investment potential of the region, moderated by Sebastian Metz were mainly the economic advantages of Bucovina, the reasons why an investor would come here. One of the companies already present in Radauti for many years, Egger, has found locally the necessary raw material and human resources, as well as the possibility to meet its energy demand from biomass.
Sebastian Popescu, partner within EY Romania, highlighted the support offered by the local administrations, along with the possibility to get significant non-reimbursable European funds, state aid, fairly low costs in general, as well as a local young workforce.
According to AHK Romania, the in-depth capitalisation of the links established at regional and central level, the development of transport infrastructure, more predictability in the fiscal field, doubled by an open dialogue between all parties involved will lead to increasing Romania’s visibility on the strategic map of international investments.
AGERPRES
