“Unfortunately for BNR, the FDI level increase will lead to RON appreciation, thus, this summer, we could have a RON 3.3 – 3.4/ EUR exchange rate,” continued Copos.
However, regarding the SMEs, they are not ready for the EU rigours.
“The SMEs represent the engine and the soldiers of the national economy, but if we fail in attracting the best investors, after 2007, approx 20-30 per cent of the SMEs might disappear,” also asserted Copos.
Much more pessimistic on SMEs future once Romania joins EU were the representatives of the National Council of Private Small and Middle-Sized Enterprises from Romania (CNIPMMR), who said the European accession will affect 40-55 per cent of the SMEs.
Florea Parvu CNIPMMR Vice-president accused the commercial banks of operating too high interests.
BNR Spokesman Mugur Stet said the interests within the banking system are normal for the current economic stage of the Romania, but, as from 2007, SMEs with foreign capital will replace the 60 per cent of the local SMEs that will disappear once the likely European integration, a thing that will favour significantly the Romanian economic situation.
Incentives for projects exceeding eur 50 m in the new law of investments
According to Vice-Premier Gheorghe Copos, the new law of investments, which stipulates the assigning of state-funded aid for projects exceeding EUR 50 M, will be finalised and sent for Government’s approval in two weeks.
“This law, which will be finalised in maximum two weeks, will include several facilities which will be assigned to big investors and I refer to the investments which can reach EUR 300 M – 400 M,” stated Copos.
Among the big investors which will enter the Romanian market this year, Copos mentioned the Japanese company Calsonic Kansei, which will assign over EUR 220 M for auto spare parts plant in Ploiesti and the Austrian company Egger in the wood processing field, which announced investments of EUR 500 M.
Underground economy - eur 20 bln per year
The authorities will not have to increase the VAT or the flat rate tax if they manage to diminish the underground economy that is evaluated at over EUR 20 bln per year, Minister of State George Copos stated.
“We have not discussed in the Government the increase of the VAT. We must diminish the underground economy amounting to more than EUR 20 bln per year. If we manage to do that, we shall not need to increase the VAT or the flat rate tax”, said Copos.
