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Gov't approves technical-economic indicators for construction of first 4-lane bridge between Romania and Moldova
Tuesday, May 16, 2023
The executive approved the technical-economic indicators related to the investment objective "Bridge over the Prut at Ungheni", Romania - Iasi County, Republic of Moldova - Ungheni District, part of the Unirii Highway - A8, the government informs in a press release sent on last Wednesday.The bridge over the Prut in Ungheni will be the first 4-lane bridge between Romania and the Republic of Moldova, the investment cost being 198.21 million RON, European funds ...
Trade: Analysis: 75% of online retailers want to expand their product ranges
Tuesday, May 16, 2023
Against the backdrop of high inflation, 75% of online retailers in Romania have as their main business objective the expansion of their product ranges, to meet consumer needs, satisfy customers’ desire for diversity, and increase sales, according to an analysis conducted by a local digital marketing agency. At the same time, to achieve growth in their business and keep up with market trends, ...
Real Estate: Romanian investors purchased 1.1 billion EUR worth of real estate, in last five years
Tuesday, May 16, 2023
The Romanian investors have made, in the last five years, purchases of real estate properties worth 1.1 billion EUR, equivalent of 28pct of the volume traded in this period, becoming the most active buyers of income-generating assets in Romania, according to data from a real estate consulting company.According to the analysis, in Romania, the ranking is completed by investors from South Africa (with purchases of 600 million EUR, 15pct of the volume), Austria ...
Telecom.IT: Romania will have a committee for artificial intelligence
Tuesday, May 9, 2023
The Minister of Research, Innovation and Digitization, Sebastian Burduja announced that Romania will have a Committee for Artificial Intelligence (AI) in which the “brilliant minds” from the country and the diaspora will be attracted and who will have the task of coordinating the development of this field, but also of fixing some ethical limits.” Sebastian Burduja signed the order ...
Real Estate: Housing deliveries slowed down considerably in the last quarter of 2022, especially in the Capital area
Tuesday, May 9, 2023
The number of homes delivered last year in Bucharest and the metropolitan area was 21,328, 3% below the 2021 level, estimate consultants Colliers, who credit the unexpectedly slow performance in the last three months of 2022 for the decline, when a third fewer homes were delivered compared with the same period last year. At the national level, the residential market in Romania registered a record number of ...
Cars : 25pct increase in new car registrations, four months into 2023
Tuesday, May 9, 2023
Registrations of new cars in Romania increased 25% in the first four months of the year, compared to the same period in 2022, to a volume of 37,447 units, according to data from the Directorate of Driving Licenses and Vehicle Registration (DRPCIV), quoted by the Romanian Automobile Manufacturers Association (ACAROM).In April 2023, the number of new car registrations increased 16.48% compared to the same month last year, reaching 9,865 ...
Downward trend for share of imported second-hand cars in Q1 total new registrations
Tuesday, May 9, 2023
New registrations of passenger vehicles were 3.5 percent up in Q1 2023 compared to the same period of 2022, while the share of imported second-hand cars in total new registrations was 67.2 percent, down 6.3 percentage points year-over-year, shows data released on Friday by the National Institute of Statistics (INS) that cite a statistical report of the Driving Licenses and Vehicle Registration Department.In a YoY comparison, new registrations of passenger ...
Healthcare: Romania seeks EU-wide solution to address shortage of doctors
Tuesday, May 9, 2023
Despite massive migration to the West, Romania has seen an increase in the number of doctors, but the current ratio (346 doctors per 100,000 inhabitants) is still not enough, and stakeholders say EU-wide solutions should be found with the proper implementation of the post-pandemic Recovery Fund, euractiv.com reports. “Over the last five years, there has been an increase in the number of doctors in ...
Agriculture: Romania implements CAP 2023-2027 through measures to develop resilient, sustainable and competitive agricultural sector
Tuesday, May 9, 2023
Romania is putting into practice the Common Agricultural Policy (CAP) post 2023 through measures to develop a resilient, sustainable and competitive agricultural sector, which aims to ensure fair incomes for farmers, the Minister of Agriculture, Petre Daea said on Wednesday at the first meeting of the Monitoring Committee for the PAC 2023-2027 Strategic Plan."Romania is putting into practice the CAP post 2023 through the Strategic Plan, through measures to ...
Official: Romania's food security is a question of distribution not of availability
Tuesday, May 9, 2023
“Romania has a high farming potential proved by the farming area used, which was 13.6 million ha in 2020, of which over 65%, about 9 million ha, is arable land, according to Eurostat data. Lately, I have travelled a lot in the country but I did not like what I saw. There was too much yellow in fields, which means rape. I don't know if it is a good thing for us and for food security”, said Nicolae Istudor, the rector of the Academy of Economic Studies, ...
Romania's improved cereal crops could limit Ukraine's place in Constanta port
Tuesday, May 9, 2023
A recovery of Romania's cereal production this year may limit the Unrainian cereal delivery place trough Constanta port, an important hub for Kiev after the Russian invasion, says Comvex, a port operator, Reuters writes. Ukraine, one of the largest world exporters of cereals and oil seeds, saw its Black Sea ports blocked following the Russian invasion in February 2022 and had to find alternate shippinf ...
Total compensation package worth 50 ml euro for Romanian farmers
Tuesday, May 9, 2023
Romanian farmers will receive a total of compensation package of 50 million euros, to cover for the losses suffered amid the surge in grain imports from Ukraine, Prime Minister Nicolae Ciuca said on Thursday.The European Commission proposes the grant of a second compensation installment for Romanian farmers, estimated at approximately 30 million euros, Ciuca said at the beginning of the government meeting. This money adds to the amounts approved by ...
Tourism : Arrivals in tourist reception structures, increasing by 24.3% in the first quarter
Tuesday, May 9, 2023
- Compared to March 2022, in March 2023 the arrivals in the establishments of tourists’ reception with functions of tourists’ accommodation, including apartments and rooms for rent, increased by 18.6% and the overnight stays increased by 17.0%. - Compared to March 2022, in March 2023 customs registered a decrease in the arrivals1) of foreign visitors of 13.2% and an increase of 24.7% in the departures1) ...
Infrastructure: Minister Grindeanu: 139 million euros to develop infrastructure projects in Drobogea
Tuesday, May 9, 2023
139 million euros will be used to develop infrastructure in Dobrogea, investments being directed to Mihail Kogalniceanu Airport in Constanta and Constanta port, according to Sorin Grindeanu, the minister of transports. “Six new investment contracts with the Large Infrastructure Operational Program (POIM) financing for 139 million euros will be used for projects meant to develop infrastructure in ...
HiSky introduces direct flights from Bucharest to Barcelona
Tuesday, May 9, 2023
HiSky announces the introduction of a new route departing from Bucharest. Starting this July, Romanian passengers will be able to travel with HiSky to Barcelona as well. This is the seventh destination operated from Henri Coanda International Airport and the eighteenth in the portfolio. The flights will ...
Agriculture: Romania, high agricultural potential, too much rapeseed not good for food security
Tuesday, May 2, 2023
The agricultural area used in 2020 in Romania was nearly 13.6 million hectares, of which nearly 9 million hectares is arable land, Nicolae Istudor, rector of the Bucharest University of Economic Studies (ASE), said on Tuesday at the annual National Bank of Romania (BNR)-ASE conference on "Navigating through overlapping crises", noting that lately he has seen too much yellow on the fields, namely rapeseed."As a specialist in agricultural economics, please ...
Transit of Ukrainian cereals: Brussels has found an agreement with 5 EU member states
Tuesday, May 2, 2023
The European Commission has announced on Friday the signing of a principle agreement with five member states in the EU among which Poland, Romania and Hungary to guarantee the transit of Ukrainian cereals after the import interdiction imposed by some of these countries and considered as ‘unacceptable’ by Brussels, informs France Presse.The EU suspended, in May 2022 for one year, the customs taxes to all products imported from Ukraine and ...
Real Estate: Investments on the real estate market in Romania increased by 39% in 2022
Tuesday, May 2, 2023
During a tumultuous 2022, marked by global political and economic instability, the Romanian real estate market has been put though a set of trials, with some outperforming sectors while others struggling to adapt to changes which no longer seem temporary. 2023 has started on a temperately optimistic note, with an overall approach governed by cautiousness and well-thought business decisions. With a declining inflation rate, at 14.5% in March, 2023 seems to be, so far, ...
Residential building permits in Romania, down 23.7pct in Q1 2023
Tuesday, May 2, 2023
Almost 8,000 residential building permits were issued in Romania in Q1 2023, down 23.7% y-o-y, according to data published on Friday by the National Institute of Statistics (INS).According to the official statistics, decreases in the number of building permits were registered in the following development regions: Bucharest-Ilfov (-535 permits), Nord-Vest (-447), Sud-Muntenia (-378), Sud-Est (-302), Vest (-284), Sud-Vest Oltenia (-277) and Nord-Est (-273). ...
The first quarter of 2023 was one of the slowest in the post-pandemic period in terms of demand for the office market
Tuesday, May 2, 2023
Leasing activity in the Bucharest office market recorded a slowdown in the first quarter of 2023 by comparison to the recovery phase of the post-pandemic period, with new demand almost halving compared to last year’s first quarter, while total demand also declined by about 25%, according to data from Colliers. Even so, given the robust pipeline of deals, Colliers’ consultants remain cautiously optimistic and ...