President Basescu invites large companies to invest in Romanian intelligence

Romania's President Traian Basescu on Thursday called on large foreign companies to walk into the footsteps of Renault and Oracle and invest in Romania's intelligence.

Basescu attended the opening of a Renault technical centre at Titu, Dambovita County.

In his speech to the opening ceremony, President Basescu pointed out that Renault's investment in Romania was one of the success stories of the transition times in Romania.

'Renault's investment in Romania will be one of the highly successful achievements in the industrial future of Romania. The investment has already reached 1.4 billion euros and it is scheduled to reach 2.2 billion euro at the close of 2010,' he said.

He also mentioned that the opening of the centre at Titu is in fact the close of a chain.

'Romania is benefiting from Renault investments in a complete chain: research, production and distribution. If we take a look at today's automotive industry, we will see that nobody ever raises the question of competition among neighbours countries. Renualt, Dacia included, are in a global competition in which continuing to be competitive is the only chance of securing a place in the market,' said Basescu.

He mentioned that what Renault decided to do in Romania is guarantee to the fact that the Dacia factory of Pitesti will continue to be an important player on both the local and the external automotive markets.

Agerpres