US ambassador to Bucharest about the Romanian business environment

According to the US Ambassador to Bucharest, Hans Klemm, Romania must break the cycle of political influence in economic decision-making.

Roxana Vasile, 14.10.2015, 13:37

Europe
continues to be the most profitable destination for American investments in the
long run, and Romania must capitalise on its strengths and strategic
advantages. This is one of the conclusions of the debate held on Tuesday by the
American Chamber of Commerce in Romania, attended by the US Ambassador to
Bucharest, Hans Klemm, who made a very lucid analysis of this country.

According to the newly appointed ambassador, Romania is
blessed with considerable resources. With a highly educated, multi-lingual,
tech savvy population, Romania is well positioned to attract investors, and to
serve as an investor’s launch pad for the region. Romania is also
fortunate to have diversified natural resources – energy, agriculture,
forestry. Lastly, Romania’s strategic location offers great
potential. At the border of the European Union, it is also at a crossroad
– North, South, East and West. Realizing that Romania’s location offers
the promise of increased economic ties with EU aspirant nations and beyond, smart
investors would seek out a transparent, stable and predictable Romania. Romania therefore should seek, incentivize and secure investments that would
ultimately benefit its citizens through jobs and access to secure energy.

Therefore,
according to the US Ambassador, Romania should keep on making efforts to
implement those structural reforms that will increase labour market
participation, reduce regulatory barriers, encourage greater entrepreneurship
and open sectors to more international competition and investment. These
reforms, Hans Klemm said, include improvements to the country’s
infrastructure, a deepening of the technical and administrative capacity of the
fiscal and public administration, and the privatization of state owned
enterprises through initial public offerings.

Moreover,
the US Ambassador stressed the need for Romania to break the cycle of political
influence in economic decision-making. As the year 2016 is a double election
year – local and parliamentary – Romanian politicians are invited to put aside
short-sighted political concerns and focus on the long term good for the
country, so that all Romanians reap the benefits. Also, politicians should
protect and publicly defend those prosecutors that pursue corrupt actors, and
vocally support an independent judiciary, the US official also said.

Hans Klemm
also stressed the fact that Romania’s ongoing anti-corruption efforts are a
testament to the country’s commitment to democratic values, and to ensuring
that all citizens can prosper through honest, hard work, rather than nepotism
or membership in unscrupulous patronage networks. Finally, the US Ambassador
Hans Klemm stressed the fact that in Romania, a country that has made
significant contributions to international peace, security is not just a matter
of military cooperation. Security also encompasses rule of law and sustainable
economic growth.