Loading ...Romania went up 20 places in investors’ eyes in 2007, ranking 40 out of 121 in the classification of the best countries for business, according to Forbes magazine.
The classification made by Forbes based on the economic data from 2007 includes 121 states.
The taxes on profit, the freedom of trade, the investors’ protection and less bureaucracy pushed Romania 20 places up. On the other hand, it lost points at the assessment of the monetary freedom indicator that depends on the inflation level and the state’s intervention in maintaining some administrated prices, of the type of the utility prices. Moreover, fewer points were received for property rights, innovation, corruption and technology.
According to Forbes magazine, the Romanian business environment is more attractive than the one in Turkey (41st place), Croatia (42), Bulgaria (44), Greece (53), Ukraine (75), Russia (86) or Moldova (90). Before Romania comes Germany (21), Austria (23), France (25), Slovenia (27), Italy (28), the Czech Republic (29), Lithuania (30), Hungary (31), Latvia (32), Poland (33) and Spain (35).
Forbes classification puts Romania in a better position in the competition for the election of the biggest investment in the Black Sea space (the Austrian iron and steel corporation Voestalpine, of 5 billion euros). Forbes places Romania on the best position, before its three competitors Bulgaria, Turkey and Ukraine.
"Romania’s macroeconomic gains have only recently started to spur creation of a middle class and address Romania’s widespread poverty. Corruption and red tape continue to handicap its business environment. Inflation rose in 2007 for the first time in eight years, driven in part by the depreciation of the currency, rising energy costs, a nation-wide drought affecting food prices, and a relaxation of fiscal discipline, " the magazine reads.
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