BNR Exchange Rates
21.05.2012- 1 EUR
4.4408 RON - 1 USD 3.4767 RON
- 1 CHF 3.6976 RON
- 1 GBP 5.5015 RON
- 1 gr. aur177.7840 RON
Out of work in the West, starting business in RomaniaUpdated: 22-09-2009 |
A few hundred thousand Romanians, who lost their jobs in Spain, Italy or the Scandinavian countries, refuse to return to Romania for lack of a decently-paid job. They can either sign up for unemployment benefits, which in some cases amount to several thousand lei, or return to Romania to start their own companies.
"Since the economies in the developed European countries collapsed, many are interested in bringing their money and expertise they gained there back to start a business in Romania. Lately, the economic climate in Romania has not provided many opportunities for this, but, even if they are few, serious Romanians still want to do business in Romania," Marius Bostan, Senior Partner of VMB Partners advisory company, said.
Remittances to Romania by people who work abroad fell by one fifth in the first seven months, to €3.7 billion. In July alone, the decline was sharper, at 47 percent, to €372 million from €705 mln.
For lack of a well-paying job in Romania, some Romanians who decide to return prefer starting their own businesses with money they saved when they were away.
Fields returnees are interested in investing their money are construction, renewable energy, infrastructure, and waste management. The highest unemployment benefits paid in Romania go to Romanians who worked abroad, who earned this right in the countries in which they worked.
Latest News:
- Millennium Bank increases uncollateralized cash loans maximum amount
- Customers Benefit from Satisfaction Guarantee with All Consumer Banking Products from Citibank
- Call for Entries for Deloitte Central Europe Technology Fast 50 2012
- Millennium Bank offers term deposits with monthly interest payment
- Deloitte European Salary Survey: Sweden, Belgium and the Netherlands, at the top of the pyramid of the tax systems
- Citibank Romania Announces New Partnerships Extending its ATM and Repayment Network by 500 Locations Countrywide
- NBR delivers a silver coin dedicated to Sergiu Celibidache – 100 years since his birth.
- MILLENNIUM BCP NAMED BEST BANK IN PORTUGAL FOR SECOND STRAIGHT YEAR BY EMEA FINANCE
- PwC Romania awarded by the Babes-Bolyai University
- COSMOTE Romania launches a new advertising campaign promoting its Business Portfolio
- On April, National Bank of Romania's foreign exchange reserves stood at EUR 34,336 million
- BCR achieves solid quarterly operating result despite economic slowdown
- The National Bank keeps unchanged the monetary rate
- Tomas Spurny begins mandate as BCR CEO
- PIC reorganization plan approved by creditors and confirmed by the syndic judge
Most Popular News
- Three billion euros to be invested in energy private-public partnerships
- Romanian state plans to keep 8 pct of Petrom, at least
- IMF mission extends stay in Romania till May 9
- IMF, FinMin Vladescu discuss Government revenues collection
- Videanu admits that he is in conflict of interests in connection to Marmosim
- Greece gets 110 billion euros, biggest bailout in history
- BNR governor Mugur Isarescu: Situation is quite complicated
- Romanian-German meeting on fresh cooperation opportunities
- Gov't to earmark 6.4pc of GDP for investment
- FinMin Vladescu: Cutting 25pc off public wages pool will not generate needed savings
