>> With 22,3 millions inhabitants and a surface of 237.500 km², somewhat smaller than Great Britain, Romania is one of the largest and most interesting markets in Eastern Europe. After a slowly starting reform process and the privatisation of the most important industrial sectors which has mainly already taken place in the period from 1998 to 2005, Romania was able to achieve an overall economic stability.

The accession to the European Union as per Jan 1st 2007 is accompanied from the necessity to accomplish further reforms, especially in the areas of the legal system, the fight against corruption and industrial basics for food safety. Because of these circumstances the EU implemented transitioning regulations and accompanying measures and obliged Romania to an ongoing reporting about the achieved results. 

Despite the fact that the overall economic growth decreased after the record result of  8,3% in 2004, the Romanian economy presents itself still as largely growing. Besides other facts this is definitely the result of a lot of foreign investments in the country. Also in Romania, Austria is the most important foreign direct investor.

Especially the construction industry expects a favourable development in the upcoming years due to a lot of necessary infrastructure projects in the fields of highway- and street-improvement, railway construction and seaport upgrading, all of them finacially aided by the EU.  Furthermore additional chances in the fields of machinery, plant construction, chemical and pharmaceutical industry, insurance business, tourism and furniture industry can be expected.

The new "flat tax" which was introduced in January 2005 with a general tax rate of 16% on profits and personal income, combined with further fiscal advantages and a still low wage level as well as a good educational structure make Romania an attractive market for foreign investors.