Industry of Romania
[6] The latest Global Emerging Markets Index from the foreign exchange company shows that Romania has made the top ten for the first time, reaching number nine.
The monthly index is based on the number of foreign exchange transfers undertaken by the firm to emerging market regions for property purchases.
Business Monitor International released Romania Infrastructure Report Q2 2007 in which they forecast an average industry growth rate of 6.84% over the 2007–2011 period.
Despite the drawbacks, BMI ranked Romania 12th out of the 13 states included from the Emerging Europe for the infrastructure business environment.
Manufacturers have been attracted to Romania due to the highly educated population with lower labour costs than the EU.
Romania's government-run healthcare system is also an important attraction, as it exempts companies from the high health insurance costs they must pay in the EU.
In Romania are produced a wide range of automobiles, minivans, sport utility vehicles, buses, and trucks.
[16] Romania planners realized that the country needed to advance quickly in such areas as high technology if the economy were to grow while matching foreign competition.
Accordingly, Romania selected its comparative advantage areas, including informatics—particularly information storage and retrieval and electronic data processing, fine chemicals, and precision machinery in the short term; biotechnology and new materials in the mid-term; public benefit areas, such as the environment, health, and welfare, as another group; and oceanography and aeronautics for the medium and long term.
In 2000 Romania announced an ambitious plan to promote science and technology so that high-technology activities would dominate the economy by the year 2007.
The Ministry of Science and Technology intended to coordinate technology-related projects between government and industry in a variety of fields including semiconductors, computers, chemistry, and new materials.
Romania is one of the most attractive markets in Europe for technology investment and outsourcing, with a highly skilled and diversified workforce, competitive prices, and a stimulating business environment with a sector worth as 40 billion EUR.
Romania's IT sector has seen continuous growth over the past decade, despite political turbulence and the economic crisis, which is a good indicator of its driving force.
Known for their broad technical expertise, their flexibility, enthusiasm and excellent language skills, Romania's software service providers are a great choice for long-term collaborations in both nearshoring and offshoring businesses.
[19] Its western-oriented culture and the high educational degree of its youth bring Romania forward as a huge potential market (the second largest software producer in Eastern Europe).
The Government has launched a program promoting construction of IT-oriented technology parks – special zones that have an established infrastructure and enjoy a favorable tax and customs regime.
The ICT industry has broadened its focus beyond manufacturing equipment to maintenance and management services as well as creating audio, video, print and digital content.
On the occasion of the World Electronics Forum (Paris 2000), the "Worldwide ICT Professionals Market Situation Study" showed that, by 2008, Romania will be the only European country to have excellent IT specialists.
Romania ranked the 6th in the world by number of certified professionals ("2003 Global Skills IQ Report", Brainbench) and has been awarded a bronze certificate in the category of "Most Certified Nation (Overall)" during the first annual Bench Games 2005 ("2005 Bench Games Report", Brainbench).
Furthermore, record high defense expenditure (currently at 5 billion €), which was considerably increased under the government of Prime Minister Călin Popescu-Tăriceanu.
[citation needed] In recent years, the Romanian Government has called, unsuccessfully, for the lifting of the EU weapons trade embargo on China.
