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Romanian Retailers Displeased With Anti-Competition LawUpdated: 22-09-2009 |
The law regulating the selling of food products goes against the principle of competition and will lead to bankruptcies while also forcing foreign retailers to pull their direct investments from Romania, according to Romanian large retailers association AMRCR.
The law in question was enacted by the Chamber of Deputies on September 16 and it is now awaiting the president's approval.
"The first ones to feel the impact will be the end users. The anti-competition and obtuse nature of the law will reflect in the deterioration of the competition climate on the food products market, which will make prices grow," said a press release issued by AMRCR.
Also, the shrinking of supplier payment deadlines will render many vendors unable to keep the deadlines, which will cause delays and financial deadlocks which could end in bankruptcies, among retailers as well as suppliers.
"The jobs of the over 50,000 Romanians working in modern commerce are thus endangered by an irrational regulation," the document reads.
According to the association, the new restrictions imposed through the law will encourage retailers to drop traditional suppliers in Romania and seek suppliers from abroad, from countries where there are no such regulations.
The press release adds the normative act could prompt retailers to pull the FDI unfolded in Romania, as long as the legislative frame becomes so restrictive.
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