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
Patriciu: "In Georgia, I double my money twice as fast"Updated: 23-09-2009 |
After confirming yesterday in Tbilisi the takeover of a 91 percent share package of the Popular Bank of Georgia together with Georgia's former Prim e Minister, Vladimer Lado Gugenidze, for €15 million, Romanian businessman Dinu Patriciu said that he chose Georgia because this is one of the most liberal countries in the world economically.
"In terms of the ease to do business, the World Bank places Georgia in 11th place. We [Romania] rank 55th. The Georgian economy is so liberal that this country in the Caucasus will become a new Switzerland."
When asked if he expects a profitability rate higher than in real estate or media, the businessman said: "I plan to invest in things I enjoy. I enjoy starting a new restructuring with my partner, Lado Gurgenidze, like so many other restructurings I have engaged in. We know very little about countries such as Georgia, Malaysia, Rwanda, Botswana, and many others, about 20-25 countries in which the principle of governing actually leads to prosperity."
Regarding the possibility of him further investing in the Romanian financial sector, Patriciu said that he will only invest in Romania when this country is determined to progress, and tries to be a free market economy, with no constraints. The reason is not related to low risk investments, but rather to "growing with economies that grow. If GDP [gross domestic products] in such extremely liberal countries grows 10 percent, the population's deposits increase 50 percent."
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
