The number of new companies set up in Romania rises only 0.7% owing to the crisis

Publish date: 04-12-2008
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The number of newly-set companies in Romania increased only 0.7 percent this year until November 17 over the similar period last year, while bankruptcies doubled, because of the financial turmoil, data from Trade Registry Office (ONRC) show.

Most companies were created in retail (36,808) and constructions (22,562), while the least in cleaning (69).

However, at the same time, retail and vehicle repairing industry saw 5,326 bankruptcies over 3,046 last year. In the processing industry the number of insolvencies reached 2,601 from last year's 1,200 and in constructions it doubled to 900.

Other fields affected by bankruptcies were hotels and restaurants, transports and agriculture. Also, most insolvency cases were registered in October this year, a 79 percent over October last year


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