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Foreign Investors Council: It's time to focus on economic growth

Autor: Claudia Medrega

14.04.2011, 23:52 20

The Foreign Investors Council (CIS), believes Romania's problemshave to do with a lack of priorities in resource allocation, ratherthan the lack of resources, and has resumed talks on the fivepriority investments that could add 9.5% percent to the GDP growthand lead to the creation of around 200,000 jobs.

"The Romanian economy is at a crossroads. An economic model basedon investments and exports is necessary, our goal is sustainabledevelopment, with higher revenues and improved competitiveness.Romania's problem is the lack of priorities in the allocation ofits resources rather than a lack of resources in absolute terms,"said Mariana Gheorghe, president of CIS and manager of the biggestcompany in Romania, Petrom.

The total investments calculated by CIS for the five priorityprojects would amount to 10 billion euros, with budget costsamounting to just 2.4 billion euros. The five projects would bring3.6 billion euros in additional state budget revenues.

At present there are 46,000 public investment projects in variousstages of implementation.

The Nădlac-Sibiu motorway should be the no. 1 priority on the listof five investment priorities for the next five years, consideringits impact in the economy, the budget spending and the EUco-funding. The investment, estimated at 3 to 4 billion euros,could raise the GDP by 3.6 percent on medium term and create 74,000new jobs.

Second on the list of projects is resumption of works on theBucureşti-Braşov motorway. The other top investment priorities areCraiova-Constanţa infrastructure projects, Tarniţa-Lăpuşteştihydro-power station and the recently launched Extreme LightInfrastructure pan-European project.

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