PLANNED MEETINGS FOR THE FIC MEMBERS
(Please confirm your participation at : office@fic.ro)

Meeting of TF Environment
on 16 March at 17:00 at FIC office
 
Meeting of TF Infrastructure
on 18 March at 09:00 at Holcim HQ
 
Meeting of TF Labour
on 22 March at 17:00 at FIC Office
 
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The key roles of Foreign Investors Council are:

• to contribute positively to the improvement of the Romanian legal framework for commercial and tax matters;

• to promote sound business ethics;

• to project a good image of foreign investment and of business in general.

 


March 10, 2010

  FIC
• No news for today
  Financial News
• Banca Transilvania lowered by 0.5% its interest for RON-denominated savings account
• Commercial banks paid RON 1.2 billion worth of profit taxes to the budget last year
• EBRD invested more than 70% from the EUR 1 billion financing agreed with Romania for 2009 and 2010
• Credit Europe Bank saw transactions of RON 168 million on CardAvantaj credit cards in 2009
• ProCredit Bank launched a financial package for SMEs
  Macroeconomic News
• Clearstream connected to the NBR's trading system
• Marco Walde, CEO of the Romanian-German Chamber of Commerce, says enforcing a minimum tax could have a negative impact on the Romanian market
• Mandatory private pension funds posted profits amounting to RON 362 million
• Bad loans account for a third of the NBFI's portfolios
• AAFBR members estimate the monthly inflation rate reached 0.3% in February 2010
  Investment News
• The net assets of open investment funds jumped 5.7% in February
• Agricola Bacau to sell more of its output abroad
• Teraplast Bistrita wants 10% increase in turnover this year
• Cotnari Iasi expects 5% increase in sales this year
  Legislative News
• Senators postpone again signing of ANCOM order
  Politics
• Victor Ponta, PSD: Implementing the 16% flat income tax by the liberal government was one of the worst economic mistakes
• DNA wants PSD Senator Catalin Voicu arrested

 

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Gilbert Wood
Director Hall Dickler

Since its establishment in 1997, the FIC has continued to develop as an influential organization. The FIC is a respected partner for dialogue with the Government. Participation in our organization by our Members is through their most senior country manager, many of whom had experience in other emerging markets prior to being posted in Romania. As a group, these managers have a wealth of knowledge. They altruistically devote their time individually or in working groups identifying problems and proposing solutions to policy makers on issues of concern to investors in general.

 
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