The Foreign Investors Council elected a compelling group of CEOs as Board of Directors

The 117 Foreign Investors Council (FIC) member companies are important players in the Romanian economy by the contribution of over 30% to the creation of the national revenue and investments of approximately EUR 30 billion.

The FIC has as its main objective the promotion of the dialogue between investors and policy makers for improving the business environment in Romania, which recently proved to be a difficult and multipurpose task.

The FIC analyzes fundamental issues of the current economic climate, both from the standpoint of overcoming the financial crisis and the measures necessary for strengthening the administrative capacity of the State institutions.

Recent developments in the Romanian economy and its perspectives had a great impact on the decisions made on 18 May 2010 by the FIC's General Assembly.

As a result, the FIC member companies elected a compelling group of 15 CEOs, and General Managers with significant international expertise in relevant industries for the Romanian economy as Board of Directors.

Mr. Shachar Shaine, the President of FIC, stated that "the new Board of Directors primary mission is to foster dialogue and consultation in a structured, institutionalized and professional manner with the President of Romania, Prime Minister Cabinet and Parliament members in order to secure our investments and to attract new investments for the coming years".

The 15 prominent representatives of the business community, members of the FIC Board of Directors for a one year mandate, are committed to support those measures and actions that the Government will consider in consultation with the stakeholder, as plan of action to meet the international and national commitments that Romania needs to observe. The contemplated measures, even if they shall also have a social impact, must be taken without delay.

The absence of firm measures or the postponement of certain decisions shall continue to induce a state of uncertainty to the business environment and shall delay Romania' s opportunity to overcome the effects of the crisis.

It is essential for the authorities and the political parties to be aware of the seriousness of the situation. By the election of the new Board of Directors performed by the General Assembly, the FIC confirms that it is prepared to assist decision-makers in improving business environment, within a framework of strong social responsibility and sustainable development.

The FIC Board of Directors elected on 18 May 2010 includes (listed in alphabetical order of the name):

*Name/Position*	*Company*
1. Mr. Dominic Bruynseels Chief Executive Officer	Banca Comerciala Romana
2. Ms. Mariana Gheorghe Chief Executive Officer	OMV Petrom SA
3. Mr. Steven van Groningen President & CEO	Raiffeisen Bank SA
4. Mr. Frank Hajdinjak Chief Executive Officer	E.ON Romania SRL
5. Mr. Patrice Lespagnol Executive Director	Carrefour Romania
6. Ms. Claudia Pendred Director, Romania	EBRD
7. Mr. Shachar Shaine President	URBB (Tuborg Romania)
8. Mr. Wilhelm Simons Partner, Assurance Leader Romania and SEE	PricewaterhouseCoopers
9. Ms. Liliana Solomon President & CEO	Vodafone
10. Mr. Serban Toader Senior Partner	KPMG
11. Mr. Jean Valvis President & General Manager	Valvis Holding
12. Mr. Markus Wirth Country Manager	Holcim Romania
13. Mr. Gilbert Wood Managing Director	Hall Dickler
14. Mr. Yilmaz Yildirimlar General Manager	Radisson Blu
15. Mr. Claudio Zito President & Country Manager	Enel

The Foreign Investors Council (FIC) is an association of the leading foreign investors in Romania. The FIC was established in 1997 when it officially started its activity with 26 companies as members. Today FIC accounts about 110 companies whose cumulated investments in Romania represent approximately two thirds of the total foreign direct investments made since 1990. FIC includes multinational companies providing the Romanian economy with a variety of goods and services.

The member companies of the FIC believe that the dialogue between policy makers and the investors lies at the very heart of successfully improving the climate for investment while stimulating the development of the Romanian economy.

The FIC is well positioned to provide constructive input to policy makers given the breadth of its membership, both in terms of their international experience and their substantial investment in Romania.

The management of the member companies devotes its time individually or in work groups, proposing solutions to the decision makers. FIC has produced six "White Books", setting out detailed improvements which it felt were needed in the business and investment climate, based on research and debate by FIC members.

Foreign Investors Council (FIC) - www.fic.ro

For more details, plase contact Mrs. Doina Ciomag, Executive Director, at office@fic.ro