Austria-Romania Roundtable Business Conference & Awards 2015

In a recent interview with Business Arena, His Excellency Gerhard Reiweger, the Ambassador of Austria, emphasized the positive economic, political and cultural relations between Austria and Romania. He said: “Austria is the second largest investor in Romania. The accumulated investments of Austrian companies amount to more than 11 billion Euro, accounting for almost 20 per cent of overall foreign direct investment. There are currently more than 6,800 companies with Austrian capital in the Romanian company registry, which have created roughly 100.000 jobs. Politically, we share the same goals concerning the European integration of the Western Balkans and cooperation in the Danube and Black Sea regions. Both Romania and Austria are also strong supporters of the Eastern Neighborhood Policy of the European Union. As a consequence of our historic ties, which are particularly close in the Western part of the country, Austria and Romania share a lot of cultural traditions. We try and keep these traditions alive and we are also happy to note a strong interest by our Romanian friends in the contemporary cultural achievements of Austria. Last year, the Cultural Office of the Embassy organized more than 60 events that were attended by 45.000 people overall.”

Referring to the opportunities offered by Romania’s economy, the Ambassador said: “Romania is the largest market in South East Europe, a region where Austrian investors are particularly active. Romania has great potential, there is an abundance of projects in infrastructure and ambitious modernization plans. EU-structural funds provide the necessary funding to implement these projects. Competitive labor costs and an attractive tax regime are also strong arguments for Romania as an investment location. There is also an undoubtable cultural similarity between Austria and Romania that has deep historical roots. Such cultural components should not be underestimated. After all, it is people who do business and cultural similarities are a major factor when it comes to building a sincere and trusted business relationship.”

The event will look at latest economic trends and their impact on Austrian investments in Romania, bilateral trade, growth prospects and challenges. Other proposed topics include EU’s cohesion policy and investment opportunities, energy security and development, new areas of growth in banking and finance.