PM Ciuca: A 2023 tax strategy to be unveiled in April

A tax strategy for 2023 will be unveiled in April this year, Prime Minister Ciuca on Friday assured officials of the Foreign Investors Council (FIC), an organisation that brings together over 120 of the largest Romanian companies running on foreign capital, in a meeting at the Government House, Agerpres reports.

According to a government press statement, the attendees underscored the importance of investment to the recovery of the economy and the need to boost foreign investment, which is a key component in economic growth.

"I want to welcome the initiatives of the Foreign Investors Council and to say that we are committed to achieving the same goal: developing and improving the Romanian business environment. (...) Creating such a formal consultation framework between the government and the business community helps us with our efforts to consistently attract the investment of foreign-owned companies, which is expected to result in the completion of a predictable legislative process and public policies based on data, analysis and impact studies, all key elements in building a trusting relationship with investors," Ciuca is quoted as saying in the statement.

It is necessary to identify the public policies and the necessary tools to capitalise on the investment considered by the government and also by the foreign investors that are developing in our country, Ciuca said.

"We have allocated the largest amount of investment this year - 88 billion lei. We will invest another 80 billion euros from European money in the coming years. In order for these ten billion euros a year to produce effects, the government must have the capacity and mechanisms to concrete projects. We will set up a government structure that will deal with foreign investments in Romania, but also with the promotion of Romanian exports. Let's invest together," the prime minister said.

In their turn, the attending representatives of foreign investors pointed out that boosting investment can increase Romania's economic development potential by 4.5 times by 2040. To that end, willingness for a partnership to ensure a sustainable direction towards the social environment and corporate governance was expressed.