At the same time, it is necessary to find viable and sustainable solutions for the energy crisis in order to support all actors on the market and reduce cost pressure, for the stability of the fiscal
environment, and also for the reduction of red tape and the stimulation of digitalisation, according to the findings of a FIC analysis that considered the results of the latest edition of the Business Sentiment Index (BSI) held in September 2022.
The analysis shows the business environment takes a more cautious approach to new investments compared to last year’s edition when BSI revealed a maximum appetite for investment (since 2014), results which were included in the Romanian central bank’s report published at the end of September 2022 and which highlight the level of EUR8.9 billion in foreign direct investments in 2021, the second highest value of this indicator after the level recorded in 2008.
The investment plans of FIC companies have been impacted by current crises, nevertheless a significant proportion of respondents said they plan to continue investing (36.9%) and expanding workforce plans (35.1%) over the next 12 months. However, the number of those who will abstain from new investments (35.1%) has increased considerably compared to the March edition of the same index (10%).
In terms of the perception of business growth expectations (both domestic and export), 54% anticipate positive developments for 2023 and 61.4% expect revenue growth.
Romania continues to score low on infrastructure (58%), bureaucracy (72%), and transparency and consistency in policy implementation (76%), remaining uncompetitive in this respect from investors’ perception. The legal framework is deemed by most respondents to be less predictable (64.9%).
Moreover, the attractiveness of the Romanian market remains weak in investors’ perception, with a lower rating than previous editions (29.9% compared to 47.5% in March 2022).