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Tuesday, September 28, 2004

Romania sees FDI of $2.5 billion in 2004

Bucharest, Romania, Sep. 24 (UPI) -- Romania expects foreign direct investment to reach $2.5 billion in 2004, the Rompres news agency reported Friday.

Alexandru Popa, head of the Romanian Agency for Foreign Investments, was reported as saying foreign direct investment would improve on last year's $1.8 billion because of reforms to the customs code, the taxation system and business registration procedures.

In August the central bank said increased foreign direct investment would inevitably lead to a gradual appreciation of the Romanian currency, the leu. In the January to May period, foreign direct investment inflows were up 38 percent compared to the same period last year.

The Romanian economy grew 6.6 percent in the first half of 2004 over the same period last year and is forecast by the government to grow by 5 percent or more in each of the next four years.

Posted by Mihai : 9/28/2004 04:52:00 pm