There are still too many business taxes in Romania, says ambassador TaubmanPublish date: 12-12-2007
In a recent interview to weekly Capital, US ambassador in Bucharest Nicholas Taubman talks about the Romanian business environment, which he terms dynamic, about the need to cut through red tape, Romania's picture with US business people, and a change in perception over how personal wealth is gathered in Romania.
Taubman says he is delighted with the creative entrepreneurial spirit existing in Romania. Without naming any company, he says he is really impressed by the Romanian IT companies that have turned their innovations into world famous products.
About the business environment in Romania, Taubman says it is dynamic. Romania's accession to NATO and the EU, he says, has brought about many positive changes in the local business milieu, and success there is increasingly more tangible given the existence of many private companies and sustained growth over the past years. Change has generated new institutions and new ways of doing business, and all these assets should be further consolidated, says Taubman. In his opinion, a more intense dialogue is needed between the Government and business organisations, such as the Am-Cham American Chamber of Commerce in Romania and the Foreign Investors' Council, for the system to work efficiently.
Romanian companies are still under the obligation to seek too many various authorisations and pay to much different taxes in order to stay in business, says Taubman, arguing that cutting through red tape will be necessary if small and medium-sized companies, fundamental to strong and sustained growth, is to be promoted. He points out that success has to be capitalized on while it happens and this moment for Romania is now. Romania, he adds needs a strong administration that will encourage and coordinate the business sector.
In another line of thought, Taubman mentions that US business people are today talking about Romania in the superlative. There are many Romanians on administration boards of many important US corporations, from the Silicon Valley to the Wall Street. There are also many Romanians on the boards of Romanian branches of US companies instead of expats, says Taubman. The ambassador adds that Romanians are also known for their professionalism and linguistic skills, quoting Bill Gates as saying Romanian is the second most widely spoken language at the Microsoft headquarters in Seattle, as it is spoken by over 300 Romanian employees working there.
- Insurance market stagnated in 2013 while GDP chare dropped to 1.3%
- The Romanian Leasing Market as of December 31, 2013
- Millennium Bank reports best results since its launch, helped by stronger banking income and cost cuts
- BCR cheapens First Home loans and lowers interest loans for loans in lei
- Millennium Bank's new Salary account clients receive up to 600 lei bonus and their utility bills' payment
- GarantiBank and Seamless introduce SEQR in Romania: the newest mobile payment solution
- Bancpost telecom services, now provided exclusively by Romtelecom and COSMOTE Romania
- Millennium Bank cards offer discounts in Domo stores
- BCR Supervisory Board reshuffles Management Board
- NBR decide to lower the monetary policy rate to 4.25 percent per annum
- Common appointments in Romtelecom and COSMOTE Romania
- Up to 5.5% annual interest rate for Millennium Bank's promotional three-month lei deposit
- Eurozone in recovery mode but gap between North and South still widening
- UniCredit Tiriac Bank and RBS Romania announce the successful completion of the retail clients' migration
- Millennium Bank grants First House loans in lei