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Multinationals Continue to Choose Romania

Romania continues to attract large amounts of foreign investment from multinational companies. One of the latest companies to announce plans to expand its production into the country is Procter & Gamble.

Procter & Gamble (P&G) had been planning to open a plant in Eastern Europe for some time and Romania was a late addition to the shortlist. "Up until two years ago, Romania was not on P&G's radar for such investments," says Ramona Brad, External Relations Group Leader for the US based company. However, things changed rapidly when P&G examined exactly what Romania had to offer.

In 2006, the company opened a regional services centre in Hungary with possible plans for constructing a production facility in Poland, Turkey or the Ukraine. The US$100 million facility is now going to be built in the Romanian town of Ploiesti where it will produce hair products. P&G is also talking to the Romanian government about partnering in a personnel training programme.

James Gonzalez, Market Analyst at Obelisk, has been monitoring this trend for some while. "P&G is another in a long list of multinationals that find the economic situation in Romania extremely attractive. Not only does the country provide the right business environment but it is also very aggressively working to attract these companies so the trend will continue."

Romania's entry into the EU has improved its business profile around the world and recently the French car manufacturer, Peugeot, announced that it is seriously considering Romania for the site of a new engine plant. Jean-Phillippe Collins, chairman of the Peugeot Group, made the announcement, confirming what had been rumoured since April.

The city of Cluj-Napoca is another area which is becoming a magnet for foreign direct investment, attracting some high profile investors.

The mobile phone company, Nokia, has already invested €200 million in the city and has ambitious plans for an industrial village, which will mean further investment. The Austrian company, Immoeast, has invested €210 million in the Polus Center, close to the Fontana Residence apartments , where a large proportion of the commercial units are occupied by international brands such as Debenhams, Marks and Spencer, Zara and Mango.

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