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GOVERNMENT OF ROMANIA Romanian Agency for Investment and Foreign Trade Romania A Strategic Choice August 2024  Romania - Country overview Area: 238,391 km2 Capital: Bucharest Population: 19 M (1st Jan. 2023) Currency: Romanian leu (RON) Bucharest Metropolitan 1 Exchange rates Area: ~ 3 M RON/EUR: 4.9465 RON/USD: 4.5743 (averages 2023) 2023 2 GDP: €324.6 Bn FDI flows: €6.6 Bn GDP growth: 2.1% FDI stock: €113.6 Bn Memberships 3 2004 – NATO 2007 - EU At the crossroad of tree large markets: EU, CIS and Middle East. 4 Bridge between East and West for 450 M consumers market. Located in the GMT+2 time zone.  Romania at a glance  FDI flows: €6.6 Bn in 2023  2.1% GDP growth in 2023  FDI stock: €115.7 Bn (Mar. 2024) (Source: National Institute of Statistics) (Source: National Bank of Romania - interactive database)  16% standard corporate income tax  19% standard VAT  10% standard personal income tax  8% dividend tax  0% tax on reinvested profit in new technological equipment  0% tax on reinvested profit in supporting vocational-dual education  0% income tax for employees in R&D  0% *income tax for employees who work in the IT&C, construction field, agriculture and food industry *Note: Exemption on the income for the employees involved in IT sector (software creation), construction, agriculture and food industry that do not exceed a monthly gross income of 10,000 lei inclusive. The exemption applies where the basic function is located, based on an individual employment contract. The part of the monthly gross income that exceeds 10,000 lei does not benefit from tax benefits.  Macroeconomic forecasts GDP growth (%) 8.2 6.0 5.8 4.1 4.7 3.9 4.3 3.2 2.9 3.3 2.1 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024* 2025* -3.7 (Source: European Commission) * European Commission, Spring Forecast 2024  Inflation & Unemployment 12.0 Inflation rate (HICP) (%) 9.7 5.9 4.1 3.9 4.1 2.3 4.0 1.4 1.1 -0.4 -1.1 2014 2017 2018 2019 2020 2021 2022 2023 2024* 2025* 2015 2016 Unemployment rate (%) 8.6 8.4 7.2 6.1 5.3 6.1 5.6 5.6 5.6 5.5 5.5 4.9 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024* 2025* (Source: European Commission) * European Commission, Spring Forecast 2024  Minimum wage in EU 2571 2134 2146 Gross Minimum Wage in EU (€/month) 2054 2070 July 2024 1767 1323 1254 957 968 998 1000 924 925 820 840 700 743 750 755 675 477 (Note: These provisions do not apply in the construction sector, agricultural and the food industry in Romania. All values are rounded. Denmark, Italy, Cyprus, Austria, Finland and Sweden - no national minimum wage.) (Source: Eurostat, July 2024)  FDI Flows & Stock 120.0 12.0 (Bn €) 100.0 10.0 10.0 9.5 9.1 8.9 80.0 8.0 7.3 6.6 60.0 6.0 5.2 5.2 5.3 5.2 4.5 4.8 40.0 4.0 3.4 3.5 2.7 3.0 2.3 2.5 2.4 20.0 1.9 1.7 2.0 10.0 15.0 21.9 34.5 42.8 48.8 48.8 51.4 53.7 57.9 60.0 60.2 64.4 70.1 75.9 81.1 88.3 90.8 100.3107.9113.6 0.0 0.0 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023* FDI stock FDI flows (Source: National Bank of Romania) *NBR, provisional data In 2022, Romania ranked 6th by inflow FDI and 16th by FDI stock, among EU counties. By the number of on the pipe greenfield FDI projects, Romania ranked 15th in EU, with 69 projects. (Source: UNCTAD - World Investment Report 2023)  FDI Stock by Sector €107,944 million at December 31st, 2022 mill. € / % of total FDI 32,577 / 30.2 Manufacturing 19,139 / 17.7 Manufacturing sector - largest Trade recipients: Construction and 18,588 / 17.2  22.1% transport equipment real estate transactions  21.1% oil processing, Financial intermediation 14,285 / 13.2 chemical, rubber & plastic and insurance products  12.2% food, beverages and Electricity, gas and 5,651 / 5.2 tobacco water supply IT&C 4,356 / 4.0 (Note: National Bank of Romania, Report: ”Foreign Direct Investment in Romania in 2022”, published in September 2023)  Talent Pool Largest University Centers in Romania Botosani Iasi - 7 Universities Cluj-Napoca - 9 Universities Baia Mare Suceava Iasi 54,672 enrolled students 68,918 enrolled students Satu Mare 11,422 graduates 14,916 graduates Bistrita Piatra Neamt Roman Zalau Vaslui Targu Mures Bacau Birlad Cluj-Napoca Timisoara - 7 Universities Oradea Turda Onesti 43,423 enrolled students Medias Alba Iulia Sfantul Gheorghe 9,033 graduates Arad Deva Focsani Galati Sibiu Brasov Hunedoara Braila Tulcea Timisoara Ramnicu Valcea Buzau Ploiesti Resita Targu Jiu Targoviste Slobozia Constanta - 5 Universities 21,135 enrolled students Students in 2022 Pitesti Calarasi Drobeta-Turnu Severin Bucharest Constanta 4,809 graduates Enrolled 538,720 Slatina Giurgiu Graduates 125,580 Craiova Bucharest - 30 Universities 169,493 enrolled students = City > 100,000 inhabitants 41,883 graduates = City 50,000 – 100,000 inhabitants (Source: National Institute of Statistics)  Talent Pool Professional education Graduates in the vocational, post high school and foremen education in 2022 (number of persons) Special post-secondary schools 132 Foremen schools 2110 Post-secondary schools 27915 Special vocational schools - 2nd cycle 1100 Vocational schools - 2nd cycle 29953 0 5000 10000 15000 20000 25000 30000 35000 (Source: National Institute of Statistics)  Communication skills Languages studied by Romanian students • 97% of Romanian high school students study two or more foreign languages 97% • Predominant languages: English, French, German and Spanish, yet initiatives as regards Japanese, Nordic languages or the entire Latin language family University students in Romania are proficient in (% of total): 90% 26% 17% 8% 5% (Source: ANIS, NIS, Eurostat)  BOSCH Cluj-Napoca SIEMENS Cluj-Napoca Centers DAIMLER Sebes of SONACA Turda Excellence ELI – NP Magurele PORSCHE Engineering HELLA Technical Center Romania / Cluj-Napoca Craiova Romania, Harvard University competitive Fixed Broadband economic complexity ranking (133 countries) # 13/181 Ahead of Belgium (20), Denmark (24), market 212.53 Mbps for download 134.24 Mbps for upload Poland (25), Estonia (27), Netherlands (26), Lithuania (30), Croatia (31) and Spain (34) (Source: Speedtest Global Index, (Source: Harvard, The Atlas of Complexity 2021) February 2024) 2 19 Hourly labor costs 2023 Natural gas prices One of the most S1 2023* competitive labor force in EU27 ranking the EU (€11) #20 (Source: Eurostat, April 2024) 0.1074€/KWh *Excluding VAT and other recoverable taxes and levies (Source: Eurostat dataset, Apr. 2024)  Value for money BUCHAREST BERLIN LONDON Consumer Prices* €100 €156 €191 Rent Prices €100 €263 €436 Restaurant Prices €100 €132 €189 Groceries Prices €100 €157 €171 Standard of living €2615 €4702 €6993 equivalency net salary (Source: Numbeo, avril 2024) *without rent Numbeo is the world’s largest cost of living database. Numbeo is also a crowd-sourced global database of quality of life information including housing indicators, perceived crime rates and quality of healthcare, among many other statistics.  Value for money BUCHAREST PARIS BRUSSELS Consumer Prices* €100 €180 €162 Rent Prices €100 €215 €226 Restaurant Prices €100 €166 €160 Groceries Prices €100 €210 €170 Standard of living €2615 €5490 €4608 equivalency net salary (Source: Numbeo, April 2024) *without rent Numbeo is the world’s largest cost of living database. Numbeo is also a crowd-sourced global database of quality of life information including housing indicators, perceived crime rates and quality of healthcare, among many other statistics.  Tax system Standard Corporate Income Tax Income Tax 16% 10% Reinvested Profit Tax 0% Dividend Tax Rate 8% Employer Employee Social Security 2.25% Social Security 19% 35% Standard VAT 0% income tax for employers and employees that exclusively perform R&D and innovation activities or related activities, 0% 0% income tax for employees involved in: IT&C (software profit tax for the first 10 years of activity creation), construction, agriculture & food industry. The Specific deduction for R&D eligible expenses: exemption applies for the monthly gross income that does not - accelerated depreciation of R&D equipment exceed 10,000 lei inclusive, in compliance to the law in force. - additional corporate tax deduction of 50% of the eligible expenditure for these activities  Comparative tax in EU 2023 Corporate income tax rates (%) 35 20 20 20 20.6 21 22 22 23 24.9 25 25 25.8 25.8 27.8 29.9 31.5 15 16 18 19 19 19 9 10 12.5 12.5 HU BG CY IE LT RO HR CZ PL SI EE FI LV SE SK DK EL AT LU BE ES FR NL IT DE PT MT Standard VAT rate (%) 19 19 19 20 20 20 20 21 21 21 21 21 21 22 22 22 23 23 23 24 24 25 25 25 27 17 18 LU MT RO CY DE AT BG FR SK BE CZ LV LT NL ES EE IT SI IE PL PT FI EL HR DK SE HU Dividends (%) 51 42 29 30 30 34 7 23 26 26 27 28 28 28 28 5 5 17 19 21 8 12 15 15 BG EL SK RO HR HU LT CY PL LU CZ IT DE NL AT SI PT ES FI BE SE FR DK IE (Source: Tax Foundation)  Investment support STATE AID - GD 300 / 2024 2024-2026 Total Budget: ~ € 450 Mill. Annual Budget: ~ € 150 Mill. Managed by: The Ministry of Finance Financial support aimed at regional development through investment stimulation Minimum € 10 Mill. in eligible costs Eligible expenses:  any type of new constructions  technical installations, new machines and equipment  depreciable assets associated with the initial investment such as patents, licenses, know-how or other intellectual property rights The beneficiary must secure a financial contribution of at least 25% of the eligible costs, either through his own resources or through external financing, in a form that is not subject to any other public aid. The investment must be maintained for at least 5 years after its completion.  BT SM MM SV SJ BN IS 30% BH NT CJ 40% Intensity AR MS HR BC VS 50% Map AB SB CV STATE AID - GD 300 / 2024 TM HD BV VN GL 60% BZ 70% CS VL AG PH GJ BR TL DB Ineligible IF IL MH Bucharest 30%-40% OT CL CT DJ TR GR (Source: The Official Monitor, April 4th, 2023)  Investment support STATE AID - GEO 68 / 2023 ConstructPlus 2023-2026 Total Budget: ~ € 596 Mill. 2024 Budget: ~ € 149 Mill. Managed by: The Ministry of Economy, Entrepreneurship and Tourism Financial support of investments for the establishment and/or development of production capacities for construction products and materials Eligible expenses: investment in tangible assets (buildings, land, technical installations, machinery and equipment) and intangible assets (patents, licenses, know-how or other intellectual property rights) related to the establishment of a new unit, expanding the capacity of an existing one or diversification of a production unit. Maximum amount: € 50,000,000 depending on the county where the investment is located. The investment must be maintained in the beneficiary region for a minimum of 5 years after its completion or, at least 3 years for SMEs.  BT SM MM SV SJ BN IS 30% BH NT CJ 40% Intensity MS HR BC VS AR Map AB CV 50% GEO 68 / 2023 TM HD SB BV VN GL 60% ConstructPlus BZ 70% CS VL AG PH GJ BR TL DB Ineligible IF IL MH Bucharest 35%-45% OT CL CT DJ TR GR (Source: The Official Monitor, July 7th, 2023)  Investment support STATE AID - GD 959 / 2022 2022-2027 Total Budget: € 300 Mill. Annual Budget: € 150 Mill. Managed by: The Ministry of Economy, Entrepreneurship and Tourism Financial support for investments in the manufacturing industry, in the forms of grants for Greenfields or for projects favoring a new economic activity Minimum € 3 Mill. investment value Eligible expenses:  Starting a new unit / new activity  Expanding the capacity of an existing unit (except for large enterprises from Ilfov)  Diversifying the production through products that were not previously manufactured in the unit  Fundamental change of the general production process of an existing unit (except for large enterprises from Ilfov)  Acquisition of the assets from a closed unit or from a unit that would have been closed in case an independent investor had not been acquired the assets  Creating new jobs The investment must be maintained in the beneficiary region for a minimum of 5 years after its completion or, at least 3 years for SMEs.  BT SM MM SV SJ BN IS 30% BH NT CJ 40% Intensity AR MS HR BC VS 50% Map AB SB CV STATE AID - GD 959 / 2022 TM HD BV VN GL 60% BZ 70% CS VL AG PH GJ BR TL DB Ineligible IF IL MH Bucharest 35%-45% OT CL CT DJ TR GR (Source: The Official Monitor, August 4th, 2022)  The Public-Private Partnership (PPP) The mechanism of PPP  cooperation between the public and the private partner, in order to implement a public project  the duration of contractual relationships exceeding 5 years, to allow the private partner the recovery of the investment and the achievement of a reasonable profit  financing the project, mainly from private funds and, as the case may be, by merging private and public funds  achievement of the public and the private partner’s goal  risks-sharing between the public and the private partner, depending on each party’s ability to assess, manage and control a particular risk  The Public-Private Partnership (PPP) The forms of PPP  The contractual public-private partnership, concluded between the public partner and the private one, with the contract being implemented through a project company owned entirely by the private partner  The institutional public-private partnership, concluded between the public partner and the private one, whereby a new company is set-up by both, to act as a project company that, after its registration at the Companies Register, becomes a party itself to the public-private partnership contract in question As regards both contractual and institutional public-private partnership, if another public entity intends to support the implementation of the project by assuming payment obligations or guarantees towards the private partner, for the benefit of the public one, it can only do so if the payment obligation or guarantee has been provided for specifically, in both the substantiation study and the tender documentation, with clear indication of the conditions that must be met for its fulfillment.  The Public-Private Partnership (PPP) Financing investments within the PPP framework:  in full, from financial resources provided by the private partner from its own sources or acquired from various financiers  from financial resources provided together by the private and public partner  from financial resources provided by sovereign development and investment funds, privately managed pension funds, as well as investment funds and investment companies  by corporate bonds issued by the project company for implementing the PPP project The PPP contract is concluded in accordance with the Romanian law, regardless of the private partner’s nationality.  Connectivity 17 International Airports with more Romania owns 1/3 of the Danube River, than 100 direct flights worldwide. also standing as the most significant gateway to the Black Sea through Suceava Constanta Port, the largest and deepest Satu Mare Baia Mare Iasi one (25 meters) at the Black Sea (with a 6 days time saving competitive advantage against the biggest European port, Oradea Rotterdam, as concerns Asian goods Cluj-Napoca Bacau Targu Mures transportation by sea). Arad Galati Sibiu Sulina Brasov Braila Tulcea Timisoara Drobeta M.Kogalniceanu Turnu-Severin Constanta Bucharest, Otopeni Bucharest, Aurel Vlaicu Mangalia Craiova International Fligths Giurgiu Ports (Source: National Institute of Statistics)  Industrial parks  112 modern industrial parks spread across Romania, with both private and public ownership, totaling 3,466.76 ha  Access to utilities & benefits packages according to their focus 24  Exemption on land, building and urban 9 planning taxes 18 14 5 27 8 7 (Source: Ministry for the Public Works, Development and Administration, April 2024)  Agriculture Market size evolution (Bn €) 23.8 22.2 Investment opportunities 21.1 18.6 19.0 16.8 17.2 16.8  Digitalization of the agriculture sector 15.5 15.4 15.0 14.6 14.7  Irrigation infrastructure, drainage and 13.2 13.3 11.0 11.6 10.9 soil erosion 9.8 10.1  Mechanization and the extensive use of modern technology  Collecting, storage systems and processing of agriculture products 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023  The Organic Farming segment Total Crop output  Romania is the country with the highest number of farmers in the EU, amounting to almost 3.5 million.  Romania is one of the biggest producers of cereals in the EU and the largest producer of sunflower seeds, honey and plums  The area in Romania used for agriculture constitutes almost 13.5 million ha  23% of the Romanian labour force are employed in agriculture, which is the highest percentage of people employed in agriculture in the EU (Source: Eurostat) Energy Romanian renewable energy market  Bioenergy  Hydropower  Solar energy  Hydrogen  Wind  Nuclear Future projects with Government Support  Offshore wind parks of 300 MW  Power Plants Combined Cycle Gas Turbine  Smart grids and digitalization of electrical transport network  Photovoltaics parks of 700 MW Romania will include in its national system for energy production the small modular reactors (SMR) by 2028, thus strengthening the partnership with the USA in the civil nuclear field. Large companies for new investments (clients/suppliers) Largest IT&C companies in Romania  Key facts for top tech oriented industries in 2022 INDUSTRY SIZE KEY PLAYERS NEW KEY PROJECTS  Dacia €60 M project for the manufacture of a new model AUTOMOTIVE  Ford Otosan €490 M project to produce electric cars  Nokian Tyres €650 M new passenger car tire factory €31 Bn  Daimler (Star Assembly) €135 M e-vehicle engine factory (starting 2024)  Continental €180 M investment in 2022 (R&D extension center & megafactory in Timisoara)  Amazon €120 M new corporate office to develop IT&C innovations across areas like product safety, compliance, cloud computing, machine learning, and information security (2023) €15.8 Bn  Siemens has opened a regional service hub in the field of energy, IT and cyber security (2022)  Siemens software developers worked on the Mars Rover  Microsoft opened a Technology Development Center in Iasi (2020) AEROSPACE  Premium Aerotec €100 M investment  Sonaca €100 M investment €678.9 M  Airbus Helicopters €15 M investment  UAC Europe €100 M investment  InvestRomania in a nutshell “one-stop-shop” for foreign investors, assisting and advising international companies for project implementation in the country Promoting and facilitating foreign investment in Romania Main interface between foreign companies and central / local authorities Assisting worldwide entrepreneurs in project implementation Tailored and individually custom-made solutions for developing new or current units Consultancy and guidance during all stages of the decisional process (state aid & fiscal incentives)  National Contact Point InvestRomania hosts the Romanian National Contact Point for Responsible Business Conduct (NCP) responsible with encouraging the observance of the OECD Guidelines for Multinational Enterprises and related information dissemination within the business communities and others interested parties. National Contact Point for Responsible Business Conduct for the OECD Guidelines for Multinational Enterprises https://mneguidelines.oecd.org/ncps/ The National Contact Point for Responsible Business Conduct (NCP) for the implementation of the recommendations made by the Organization for Economic Cooperation and Development (OECD) in the Guidelines for Multinational Enterprises was established by Government Decision no. 420 of May 12, 2005. The mandate of the National Contact Point for Responsible Business Conduct, presented in the Guidelines for Multinational Enterprises of the Organization for Economic Cooperation and Development (OECD) is two fold:  Promote and increase awareness on the OECD Guidelines for Multinational Enterprises and handle enquiries by organizing and participating in events related to RBC to raise awareness of the Guidelines and to address questions about the Guidelines  Provide a grievance mechanism to resolve cases (known as “specific instances”) relating to non observance of the recommendations of the Guidelines The National Contact Point for Responsible Business Conduct provides a discussion forum and supports the business community, the employer’s organizations and other interested parties in reviewing the subject matter in an effective and timely manner and in accordance with the legislation in force. Contact National Contact Point for Responsible Business Conduct E-mail: [email protected]  The OECD Guidelines for Multinational Enterprises on Responsible Business Conduct The OECD Guidelines for Multinational Enterprises on Responsible Business Conduct contains a series of recommendations for national governments of multinational enterprises, voluntary principles and standards for responsible business conduct in a global level, in accordance with the existing legislation. The Guidelines aim to ensure that the operations of these enterprises are in harmony with government policies, to strengthen the basis of mutual confidence between enterprises and the societies in which they operate, to help improve the foreign investment climate and to enhance the contribution to sustainable development made by multinational enterprises. The OECD Guidelines for Multinational Enterprises on Responsible Business Conduct cover fields such as:  Employment and Industrial Relations  Environment  Human Rights  Combating Bribery, Bribe Solicitation and Extortion  Consumers Interests  Science and technology  Competition  Taxation “OECD GUIDELINES FOR MULTINATIONAL ENTERPRISES ON RESPONSIBLE BUSINESS CONDUCT” can be downloaded at: https://read.oecd-ilibrary.org/finance-and-investment/oecd-guidelines-for-multinational-enterprises-on-responsible- business-conduct_81f92357-en#page1  GOVERNMENT OF ROMANIA Romanian Agency for Investment and Foreign Trade 9-11 Promoroaca Street, District 1 Bucharest, Romania E-mail: investromania.gov.ro [email protected] THE ROMANIAN AGENCY FOR INVESTMENT AND FOREIGN TRADE KEYPOINTS Investors are looking for competitive profit margins and a favorable business climate for the development of medium and long-term projects. Romania is an attractive business destination, that can offer a competitive Return On Investment. That is why it is most vital to promote and capitalize on the competitive advantages of our country that can place us ahead of our regional peers in attracting foreign investment. Economy on the rise: GDP  Following a contraction to -3.7% in 2020, the Romanian economy has returned to a positive trend starting with 2021, an economic growth of 5.8% compared to 2020 (according to the *NIS, December 21, 2022).  In 2022 the GDP went up by 4.7%, compared to 2021 (according to the *NIS, April 7, 2023).  Romania ranks 12th in the EU27 in terms of GDP growth in 2022 compared to 2021, up by 3 positions compared to the previous year when it ranked 15th (according to Eurostat dataset, September 20, 2023).  In Q2 2024, the GDP registered an increase by 0.1% compared to Q1 2024. In Q2 2024 vs. Q2 2023 the GDP increased by 0.8% for both unadjusted and seasonally adjusted series (according to the *NIS, August 14, 2024).  In Q1 2024 compared to Q1 2023, Romania’s GDP had increased by 1.8%, ranking 7th in the EU27. In Q1 2024 compared to Q4 2023, Romania’s GDP had increased by 0.5%, ranking the 8th position in the EU27 (according to Eurostat dataset, June 5, 2024).  In S1 2024, as compared to S1 2023, the GDP increased by 0.7% for the unadjusted series and by 1.5 % for the seasonally adjusted series (according to the *NIS, August 14, 2024).  In 2023, the estimated Gross Domestic Product was, in real terms, higher by 2,1%, as compared to 2022 (according to the *NIS, April 9, 2024).  According to the Spring Economic Forecast 2024 of the National Strategy and Forecast Commission , an economic advance of 3.4% is expected for 2024. On medium term, the forecast is: 4.0% in 2025, 4.4% in 2026 and 4.1% in 2027 (The medium-term forecast 2024-2027, spring version 2024).  The Gross Domestic Product at market prices in 2023: EUR 324.6 billion (Eurostat dataset July 10, 2024). * INS / NIS (Institutul Național de Statistică / The National Institute of Statistics) ** BNR / NBR (Banca Națională a României / The National Bank of Romania) ***ABSL - Asociația Business Service Leaders în Romania / Association of Business Service Leaders in Romania  THE ROMANIAN AGENCY FOR INVESTMENT AND FOREIGN TRADE FDI  In 2020 the COVID-19 pandemic highly impacted the domestic economy, but in 2021 Romania's foreign direct investment began to soar together with the economic recovery. Thus, in 2021, the inward FDI registered 8,940 million euros, which is approximately three times higher as against 2020 (197.5%) (according to **NBR Report - ”Foreign Direct Investment in Romania in 2021”).  FDI stock at December 31st 2021 was EUR 100.3 millions.  In 2022, FDI amounted EUR 10,039 million, up by 12.3% compared to 2021 (according to **NBR Report ”Foreign Direct Investment in Romania in 2022”, published in September 2023). This value exceeds the record level of 2008 (EUR 9,210 million).  FDI stock at December 31, 2022 was EUR 107.9 billion.  In January-June 2024, FDI amounted EUR 3,219 million (compared with EUR 2,801 million in January – June 2023) (according to the **NBR’s press release „Balance of payments and external debt - June 2024”, August 13, 2024”). (increased by 14,92%).  FDI stock at June 30, 2024 was EUR 116,939.94 millions. (**NBR - Interactive database, August 15, 2024).  Non-residents’ direct investmente in Romania in 2023 totalled EUR 6594 million, of which equity (including the provisional net reinvestment of earnings) recorded net values of EUR 1065 million. (NBR - Monthly report, March 2024) Inflation  The annual inflation rate in July 2024 compared to July 2023 was 5.4% (according to the *NIS, August 12, 2024).  The annual inflation rate in July 2024 compared to July 2023 measured by the HICP was 5.8% (HICP - The Harmonised Index of Consumer Prices = indicator for determining inflation across the EU) (according to the *NIS, August 12, 2024). Unemployment rate  In June 2024, the unemployment rate was 5.5% on the seasonally adjusted series. The number of unemployed (aged 15-74 years) estimated for June 2024 was of 447.1 thousand persons (according to the *NIS, August 1, 2024).  Unemployment rate in Q1 2024 was 5.3%, decreasing as against the one recorded in the fourth quarter of 2023 by 0.5 percentage points (according to the *NIS, June 14, 2024). * INS / NIS (Institutul Național de Statistică / The National Institute of Statistics) ** BNR / NBR (Banca Națională a României / The National Bank of Romania) ***ABSL - Asociația Business Service Leaders în Romania / Association of Business Service Leaders in Romania  THE ROMANIAN AGENCY FOR INVESTMENT AND FOREIGN TRADE Others  Romania owns 114 titled industrial parks - with both private and public ownership, 26 greenfield, 14 under construction and 76 operational, with the surface totalling of 3,497.67 ha (M.D.L.P.A. - Ministry of Regional Development and Public Administration, July 2, 2024).  In the Speedtest Global Index ranking (July 2024), Romania holds the 13th position worldwide out of 162 countries and the 4th in EU in terms of internet speed at fixed connection (a speed of 203.54 Mbps for download and 136.62 Mbps for upload data) (Speedtest Global Index ranking, July 2024).  As for the mobile connection, Romania ranks 41th out of 111, with a speed of 62.50 Mbps for download and 14.22 Mbps for upload data (Speedtest Global Index ranking, July 2024).  Romania enjoys one of the largest domestic markets in Central and Southeast Europe, being strategically positioned at the cross-roads of the traditional commercial and energy routes between the EU27, Asia and the CIS countries (Commonwealth of Independent States). Romania holds 1/3 of the Danube river, 200 km sea shore, as well as the largest and deepest port at the Black Sea – Constanta. Our country ranks 8th in terms of size and 6th in terms of population in the EU27, with almost 19 million inhabitants.  Romania offers those aiming development and growth expansion access to one of the largest single markets in the world. The entrepreneurs who consider our country for investment development can benefit from all the advantages deriving from the European investment status.  Romania is acknowledged a safe country, a fact confirmed by the 0.000 impact of terrorism value of the global index of terrorism ("no impact" category) - according to the annual report "Global Terrorism Index 2024", published by the Institute for Economy and Peace (IEP).  Romania has joined the group of countries that offer digital nomad visas to remote workers. State Aid  State aid scheme GD no. 300/2024 with the objective of regional development by stimulating the realization of investments  2024-2026 Total Budget: ~ € 450 Mill.  Annual Budget: ~ € 150 Mill.  Minimum EUR 10 M investment in eligible costs  Managed by: The Ministry of Finance  Eligible expenses:  any type of new constructions,  technical installations, new machines and equipment  depreciable assets associated with the initial investment such as patents, licenses, know- how or other intellectual property rights * INS / NIS (Institutul Național de Statistică / The National Institute of Statistics) ** BNR / NBR (Banca Națională a României / The National Bank of Romania) ***ABSL - Asociația Business Service Leaders în Romania / Association of Business Service Leaders in Romania  THE ROMANIAN AGENCY FOR INVESTMENT AND FOREIGN TRADE  The beneficiary must secure a financial contribution of at least 25% of the eligible costs, either through his own resources or through external financing, in a form that is not subject to any other public aid.  The investment must be maintained for at least 5 years after its completion.  State aid scheme GEO no. 68/2023 ConstructPlus - Financial support of investments for the establishment and/or development of production capacities for construction products and materials  2023-2026 Total Budget: ~ € 596 Mill.  2024 Budget: ~ € 149 Mill  Managed by: The Ministry of Economy, Entrepreneurship and Tourism  Eligible expenses: investment in tangible assets (buildings, land, technical installations, machinery and equipment) and intangible assets (patents, licenses, know-how or other intellectual property rights) related to the establishment of a new unit, expanding the capacity of an existing one or diversification of a production unit.  Maximum amount: € 50,000,000 depending on the county where the investment is located.  The investment must be maintained in the beneficiary region for a minimum of 5 years after its completion or, at least 3 years for SMEs.  State aid scheme GD no.959/2022 for investments in the manufacturing industry acting in support of Romanian companies to enhance the production potential for materials/products/ equipment and services by ensuring the financing and production capabilities  Minimum 3M € investment - Eligible costs include: starting a new unit, expanding the capacity of an existing unit, diversifying the production of a unit through products that were not previously manufactured in the unit, fundamental change of the general production process of an existing unit, creating new jobs Taxation:  16% standard corporate tax  0% tax for the profit reinvested in new technological equipment  0% - corporate tax relief on reinvested profit has been extended to cover investments made in assets used in production and processing activity and in assets representing reinvested profit  0% - corporate tax relief on expenses incurred in relation to theoretical/practical training of students in vocational and technical education, as well as dual (practical and academic) pre-university and university education, including depreciation of fixed assets or investments used for this purpose  8% dividend rate  19% - standard VAT rate * INS / NIS (Institutul Național de Statistică / The National Institute of Statistics) ** BNR / NBR (Banca Națională a României / The National Bank of Romania) ***ABSL - Asociația Business Service Leaders în Romania / Association of Business Service Leaders in Romania  THE ROMANIAN AGENCY FOR INVESTMENT AND FOREIGN TRADE  5% VAT – will apply to: - Supply of housing below the 450,000 lei threshold, if, before 1 January 2023, parties signed contracts mentioning the payment in advance for such properties - Supply of housing between 600,000 lei and 700,000 lei, if, before 1 January 2023, parties signed contracts mentioning the payment in advance for such properties  9% VAT rate for: food delivery, water supply for irrigation in agriculture, delivery of fertilizers and pesticides used in agriculture, seeds and other agricultural products intended for sowing or planting, as well as supply of services of the specific type used in the agricultural sector, water supply and sewerage services;  19% TVA - excise duties for alcoholic beverages and cigarettes  10% income tax for the employee  Social contributions for the employee: 35% (25% CAS - pension, 10% CASS - health)  Employer contributions: 2.25% work insurance contribution  Basis for calculating CASS (social health insurance contribution): - The social health insurance contribution is calculated based on the obtained net income - The calculation basis of CASS cannot be lower than minimum 6 salaries nor higher than 60 salaries  Tax exemption on land, construction and urban planning for investments implemented in industrial, science or technology parks  Starting 2024 VAT  The VAT rate increases from 9% to 19% for: - foods with added sugar (more than 10g/100g product), except cookies and biscuits - delivery of alcohol-free beer  The VAT rate increases from 5% to 9% for: - the delivery of housing with usable surface area of a maximum of 120 sqm, that does not exceed 600,000 lei (exclusive of VAT) - delivery and installation of photovoltaic panels, solar thermal panels, heat pumps and other high- efficiency, low-emission heating systems, including installation kits, as well as all necessary components purchased separately for housing/central public administration buildings or local administration buildings with the exception of commercial companies; - the delivery and installation of components for the repair and/or expansion of systems as a component part of construction deliveries, or as extra options when delivering a construction; - access to fairs, exhibitions, cinemas and cultural events, other than tax-exempt ones - delivery of high-quality food, i.e. mountain, eco, or traditional products * INS / NIS (Institutul Național de Statistică / The National Institute of Statistics) ** BNR / NBR (Banca Națională a României / The National Bank of Romania) ***ABSL - Asociația Business Service Leaders în Romania / Association of Business Service Leaders in Romania  THE ROMANIAN AGENCY FOR INVESTMENT AND FOREIGN TRADE CASS (Health Contribution)  Starting with the income related to January 2024, holiday vouchers and meal vouchers are subject to CASS and thus, in addition to the 10% tax, they will also be subject to the 10% health contribution. Profit tax  A Minimum tax on turnover has been introduced starting with the fiscal year/amended fiscal year 2024, for commercial companies paying profit tax (so not for other legal entities such as foundations, associations, private schools/universities/tenant associations etc.), if the turnover exceeds EUR 50 million in the previous year of calculation (for example, in 2023 for tax assessment in 2024). Companies in this category, if in the calculation year they determine a profit tax lower than the minimum turnover tax, are required to pay profit tax at the level of the minimum turnover tax. Businesses that exclusively carry out activities involving distribution/supply/transport of electricity and natural gas and that are regulated/licensed by the National Energy Regulatory Authority are exempt from this tax regime.  Additional tax on turnover for credit institutions - Romanian legal entities and Romanian branches of foreign legal entities (1) Credit institutions, in addition to the profit tax, must pay a turnover tax calculated by applying a rate of 2% (in 2024 and 2025), and 1% (from 2026) on the turnover. (2) The turnover subject to tax includes:  interest income;  income from dividends;  revenues from taxes and commissions;  gains (losses) from the derecognition of financial assets and liabilities that are not valued at fair value through profit or loss, net;  gains or losses related to financial assets and liabilities held for trading, net;  gains or losses related to financial assets not intended for trading, necessarily valued at fair value through profit or loss, net;  gains or losses related to financial assets and liabilities designated as being valued at fair value through profit or loss, net;  gains or losses from hedge accounting, net;  exchange rate differences (gain or loss), net;  gains or losses from the derecognition of non-financial assets, net;  other operating income. Thus, credit institutions will have to pay the two taxes (profit tax and additional turnover tax) simultaneously, so they will pay the sum of the profit tax and the turnover tax with the rate of 1%, not just one of these obligations. In addition, in the case of these institutions, it does not matter if the turnover is lower or higher than EUR 50 million. The turnover tax will be payable on the 25th of the month following a quarter, and for the last quarter up to and including March 25th of the following year. The turnover tax expense is not deductible when calculating the taxable profit.  Specific tax for the oil and natural gas sector - Legal entities with activities in the oil and natural gas sectors, which in the previous year register a turnover of over EUR 50,000,000 will pay a specific turnover tax in addition to the profit tax, at a rate of 0.5% of turnover. The calculation base is established identically to the calculation base of the minimum turnover tax detailed above. * INS / NIS (Institutul Național de Statistică / The National Institute of Statistics) ** BNR / NBR (Banca Națională a României / The National Bank of Romania) ***ABSL - Asociația Business Service Leaders în Romania / Association of Business Service Leaders in Romania  THE ROMANIAN AGENCY FOR INVESTMENT AND FOREIGN TRADE - The specific turnover tax is a non-deductible expense when determining the fiscal result of these companies.  Microenterprise income tax The tax rates on the income of micro-enterprises: - 1%, for micro-enterprises that earn income that does not exceed 60,000 euros and that do not carry out the activities for which the 3% rate is due - 3%, for micro-enterprises that: 1. earn income of over 60.000 de euro; or 2. carry out activities corresponding to CAEN codes: 5821 - Computer games publishing activities, 5829 - Other software product publishing activities, 6201 - Custom software development activities (customer oriented software), 6209 - Other service activities on information technology, 5510 - Hotels and other similar accommodation facilities, 5520 - Holiday and short- term accommodation facilities, 5530 - Caravan parks, campsites and camps, 5590 - Other accommodation services, 5610 - Restaurants, 5621 - Food activities (catering) for events, 5629 - Other food services n.e.c., 5630 - Bars and other beverage serving activities, 6910 - Legal activities - only for companies with legal status that are not fiscally transparent entities, constituted by lawyers according to legislation, 8621 - General medical assistance activities, 8622 - Specialized medical assistance activities, 8623 - Dental assistance activities, 8690 - Other activities related to human health. Income tax from wages (IT, Construction, Agriculture, Food Industry) Exemptions for IT, construction, agriculture and food industry activities have been eliminated or reduced.  IT Sector – for software creation activities - Exemption on the income for the employees involved in software creation that do not exceed a monthly gross income of 10,000 lei inclusive. The exemption applies where the basic function is located, based on an individual employment contract. The part of the monthly gross income that exceeds 10,000 lei does not benefit from tax benefits. - Also, for the exempted income, they will be exempted from paying the contribution to Pillar II for pensions (3.75% for 2023 and 4.75% starting 2024), but they will be able to opt for paying the entire contribution (25%), based on a written option to the employer.  Construction - Exemption on the income for the employees involved in construction activities that do not exceed a monthly gross income of 10,000 lei inclusive. The exemption applies where the basic function is located, based on an individual employment contract. The part of the monthly gross income that exceeds 10,000 lei does not benefit from tax benefits. - 10% health contribution (CASS). - 20.25% social insurance contribution (individual pension contributions-CAS) - reduced by 4.75% compared to the standard rate of 25%  Agriculture and food industry - Exemption on the income for the employees involved in agriculture and food industry activities that do not exceed a monthly gross income of 10,000 lei inclusive. The exemption applies where the basic * INS / NIS (Institutul Național de Statistică / The National Institute of Statistics) ** BNR / NBR (Banca Națională a României / The National Bank of Romania) ***ABSL - Asociația Business Service Leaders în Romania / Association of Business Service Leaders in Romania  THE ROMANIAN AGENCY FOR INVESTMENT AND FOREIGN TRADE function is located, based on an individual employment contract. The part of the monthly gross income that exceeds 10,000 lei does not benefit from tax benefits. - 10% health contribution (CASS). - 20.25% social insurance contribution (individual pension contributions-CAS) - reduced by 4.75% compared to the standard rate of 25% The facilities specific to all these industries are valid until 31 December 2028, including those for employees in the IT sector. Human resource: Skilled labour force at competitive prices:  Starting July 1st 2024, the gross national guaranteed minimum wage is 3.700 lei/month established as income, without including allowances, increments and other additions. These provisions do not apply in the construction sector, agriculture and the food industry.  The projects we are aiming at attracting are no longer labor intensive as we are shifting towards high value-added investment projects.  In the construction field, the guaranteed minimum gross basic salary is 4,582 lei per month, without including other bonuses, for a regular work schedule, amounting 27.714 lei/hour  In the agriculture sector and food industry, the guaranteed minimum gross basic salary is 3,436 lei per month, without including other bonuses, for a regular work schedule, amounting 20.782 lei/hour.  In June 2024, the gross average income was 8,480 lei, with 125 lei higher against May 2024 (+1,5%) (according to the *NIS/August 12, 2024).  The highest values of the average net earnings were recorded in publishing activities (11614 lei), while the lowest in manufacture of wearing apparel (2798 lei) (according to the *NIS/August 12, 2024).  In Q1 2024 compared to Q4 2023, the adjusted hourly labour cost (working days adjusted) registered an increase rate of 1.85%. In Q1 2024 compared to Q1 2023, the adjusted hourly labour cost (working days adjusted) registered an increase rate of 16.45% (according to the *NIS/June 4, 2024).  The hourly labour cost in 2023 was 11 euros, the second lowest after Bulgaria (9.3 euro), and 2.9 times lower than the EU27 average (EUR 31.8). The hourly labour costs by main activities: construction (8.9 euros), industry (10.2 euros), business economy (10.8 euros), services (11.6 euros), mainly non-business (11.8 euros) (according to Eurostat - March 2024).  Introduction of the dual education at secondary school level - in this sense the Vocational Training Authority in Dual System was established and partnerships were created with the major universities in the country. * INS / NIS (Institutul Național de Statistică / The National Institute of Statistics) ** BNR / NBR (Banca Națională a României / The National Bank of Romania) ***ABSL - Asociația Business Service Leaders în Romania / Association of Business Service Leaders in Romania  THE ROMANIAN AGENCY FOR INVESTMENT AND FOREIGN TRADE  Romania has a significant pool of educated talent, enjoying a great creative potential and a highly skilled workforce; 97% of Romanian high school students learn at least two foreign languages, 90% of graduates are English speakers. Many of them also speak German, French, Spanish or Italian - which indicates a good ability to cross the cultural and linguistic barriers.  49.0% of persons aged 18-69 years know at least one foreign language (according to *NIS/December 8, 2023).  The number of IT engineers per capita is higher in Romania than in India, the United States, Russia or China. Sectors: Automotive  Key sector, enjoying a long tradition in Romania  With a contribution of aprox. 12% to the GDP, the turnover registered by the automotive sector was EUR 31 billion in 2022  In 2021, the value of exports from the automotive sector was 21.8 billion Euros, representing 29.8% of the national exports. In 2022, the automotive sector contributed to 29% of total national exports.  2022 came as a record year for car production in Romania, with 509,915 units (DACIA 314,678 units and FORD 195,237 units). According to ACEA - State of the EU auto industry, full-year 2022, Romania's car production increased by 20.6% in 2022, Romania ranking 6th of EU vehicle manufacturers top.  In 2023, 513,050 units were assembled (DACIA 322,086 units and FORD OTOSAN 190,964 units) (ACAROM), a new record for the Romanian automotive industry: production in 2023 was 0.7% higher against 2022, 22% higher against 2021 and 17% higher against 2020. Even compared to 2019 - an unaffected by the pandemic and the semiconductor crisis year - an increase of 4.7% was registered.  It is expected that 2024 will be a new record year for Romania's car production, given the fact that new products will enter the assembly lines at both plants, Dacia and Ford Otosan - the third generation of Dacia Duster and the facelift version of Ford’s Puma SUV, in addition to the new Transit and Tourneo Courier whose assembly began at the end of 2023.  More than 630 supplying companies, with more than 230.000 direct employees  The regions with significant supplier network: Argeș (Dacia), Oltenia (Ford), West, Center, North-West (export Germany)  The R&D in the domestic automotive sector continues to grow by new investments and relocations of high tech activities (Continental, Renault, Bosch, Porsche, Delphi, Siemens, Schaeffler)  Top 3 exporting companies: DACIA, FORD, DAIMLER (Star Assembly)  Two of the world's largest car manufacturers are present on the domestic market: Dacia Renault and Ford;  Romania is profiling itself as one of the regional hubs in automotive  The highest quality level in terms of auto parts manufacturing in Eastern Europe  The Romanian Automotive Industry - suppliers: Robert Bosch, Continental AG, Magna International, Faurecia, Adient, Delphi, Valeo, TRW, Lear Co., Yazaki Corp, Sumitomo, Calsonic Kansei, Autoliv * INS / NIS (Institutul Național de Statistică / The National Institute of Statistics) ** BNR / NBR (Banca Națională a României / The National Bank of Romania) ***ABSL - Asociația Business Service Leaders în Romania / Association of Business Service Leaders in Romania  THE ROMANIAN AGENCY FOR INVESTMENT AND FOREIGN TRADE Source: ACAROM (Association of Automotive Manufacturers of Romania) Services sector - SSC, BPO, ITO, R&D (Shared Services Center, Business Process Outsourcing, Information Technology Outsourcing, Research and Development)  Growth driver and an important contributor to Romania's GDP (2-2.5% of GDP and 5.4% of GDP in 2021) (***ABSL)  Romania is one of the most appealing near-shore locations, capitalizing on a sound educational system, with a strong focus on IT, finance and accounting, thus providing a steady and competitive flow of skilled resources to meet the growing demand of SSC/BPO entities  Some of the most preeminent international companies in the field, including global players like IBM, HP, Oracle, Microsoft, Adobe, Endava etc.  131,000 employees in BSS in 2020 (1.5% of the total employees in the Romanian economy), reaching aprox.180,000 employees in 2021.  280 companies in BSS;  1st position in mature outsourcing markets  More than 64,000 university graduates form the talent pool of the sector (Source ***ABSL)  Cultural compatibility and wide range of foreign language skills, covering English, French, Spanish, Italian, German, Portuguese, Hungarian, Czech, Slovak, Bulgarian and Russian, provide a competitive edge to the Romanian work force (Source ***ABSL);  €4.5 Bn industry size in 2020 and €9 Bn in 2021 (***ABSL, June 2022);  Wages offered at the entry level in the business services industry are 30% higher compared to the minimum wage, for employees with higher education. (Source ***ABSL)  About 45% of the companies in the industry are SSCs (Shared Service Centers – companies which clusters certain activities, such as IT, accounting, purchasing, etc. in an entity specialized in shared services). 44% are active companies in the BPO industry (Business Process Outsourcing – specializes in providing services to external customers), the remaining 11% of companies are hybrid. Most companies operating on the local market come from France, Germany, Romania and USA. (Source ***ABSL - January 2020);  Estimated number of jobs in the next 5 years: 220,000. IT&C  Significant contributor to Romania's GDP in 2022 (1.3% of GDP growth)  IT&C - 7.1% to the GDP formation in 2023 (estimated data, according to the *NIS, April 9, 2024)  IT&C - Q1 2023: 8.0% contribution to the GDP formation and 0.5% to the GDP growth (according to the *NIS, July 7, 2023) * INS / NIS (Institutul Național de Statistică / The National Institute of Statistics) ** BNR / NBR (Banca Națională a României / The National Bank of Romania) ***ABSL - Asociația Business Service Leaders în Romania / Association of Business Service Leaders in Romania  THE ROMANIAN AGENCY FOR INVESTMENT AND FOREIGN TRADE  IT&C - Q2 2023: 7.0% contribution to the GDP formation and 0.4% to the GDP growth (according to the *NIS, October 12, 2023)  IT&C - S1 2023: 7.5% contribution to the GDP formation and 0.4% to the GDP growth (according to the *NIS, September 7, 2023)  In recent years, software development outsourcing has been increasingly popular in Romania. Romania’s IT market value reached EUR 6 billion in 2022 (Rinf.tech, ”A Complete Guide to IT Outsourcing in 2023”)  Technology is considered a primary growth driver for Romania, enjoying a EUR 20 million investment yearly growth, according to ANIS (Employers’ Association of the Software and Services Industry)  The IT&C services sector fostered a 9% yearly growth rate of the large companies’ revenue, 73% of the revenue being generated by companies with foreign capital, according to the ***ABSL  Romania has all the prerequisites to remain a center of excellence in IT. The largest national and foreign IT&C companies have their headquarters in Bucharest  64% of Romania’s IT firms are financed by outside investors, demonstrating the country’s appeal to overseas investors. (Rinf.tech, ”A Complete Guide to IT Outsourcing in 2023”)  Lots of innovation labs and tech hubs are in the main cities in Romania: Bucharest, Cluj-Napoca, Iasi, Brasov, Timisoara and Sibiu  Romania has the sixth highest number of certified IT specialists per capita in the world, ahead of countries like the USA, India or China (Source – microsoft.com, 2022)  The IT specialists represent a significant category in Romania's economic ecosystem, bringing their value-added contribution to the development of other sectors as well through a horizontal implementation of the concept of "Industry 4.0";  The development of the IT sector has made it a enabler for the automotive sector, the aerospace industry, the chemical industry, agriculture and many others. By creating new partnerships or consolidating the existing ones between universities and the business environment, we become part of the Industry 4.0 revolution. Thus, Romania is increasingly positioning itself as a regional hub in the IT field.  Romania ranks 3rd in the Digital Nomad Index by CircleLoop’s with one of the fastest-growing information technology markets in Central and Eastern Europe, enjoying some of the cheapest average monthly costs of fixed-line broadband packages ($8.15) and a cheap and reliable internet access.  University graduates are perfect candidates for IT outsourcing. Some of the most used technologies in Romania: JavaScript, Java, Python, C#, .NET, C++, C, SQL, PHP and cybersecurity. (Rinf.tech, ”A Complete Guide to IT Outsourcing in 2023”) * INS / NIS (Institutul Național de Statistică / The National Institute of Statistics) ** BNR / NBR (Banca Națională a României / The National Bank of Romania) ***ABSL - Asociația Business Service Leaders în Romania / Association of Business Service Leaders in Romania  THE ROMANIAN AGENCY FOR INVESTMENT AND FOREIGN TRADE R&D  Pillar of strength in putting Romania on the map of innovation  0% income tax for employees in R&D and innovation, in compliance with the Romanian current legislation, for all persons included in a research-development and innovation project team  In the near future, Romania will turn into a regional R&D center, capitalizing on its enormous capacity to innovate, the latest generation ELI laser being produced here.  Numerous international companies, including Google, Amazon, Samsung, Huawei and Accenture have established R&D facilities in Romania. Construction:  8.0% to the GDP formation in 2023 (estimated data, according to the *NIS, April 9, 2024)  Until December 31st, 2028 the tax regime for income in construction sector is: o minimum gross wage for construction: lei 4,582/per month (without including additional performance bonuses) o the income from the salaries are exempted from the payment of the income tax, within the 10,000 lei from the gross salary. The exemption applies where the basic function is located, based on an individual employment contract. The part of the monthly gross income that exceeds 10,000 lei does not benefit from tax benefits. o 10% health contribution (CASS) o 2.25% work insurance contribution (CAM) o 20.25% social insurance contribution (individual pension contributions-CAS) - reduced by 4.75% compared to the standard rate of 25% * INS / NIS (Institutul Național de Statistică / The National Institute of Statistics) ** BNR / NBR (Banca Națională a României / The National Bank of Romania) ***ABSL - Asociația Business Service Leaders în Romania / Association of Business Service Leaders in Romania Saatja: "Helsinki Economic" <[email protected]> Teema: InvestRomania Country Presentation&Keypoints Kuupäev: 2024-09-18 14:00 Tähelepanu! Tegemist on välisvõrgust saabunud kirjaga. Tundmatu saatja korral palume linke ja faile mitte avada. Good afternoon, Please find attached a material (Invest Romania - Key points) that presents the main competitive advantages Romania offers to potential foreign investors. Romania is interested to attract Estonian investors and would like to ask for your assistance by sharing the information attached among members, stakeholders and authorities that might be interested in future investments and foreign trade with Romania. For further information, please contact InvestRomania, part of The Romanian Agency for Investment and Foreign Trade. InvestRomania is the government body dedicated to providing professional support and advice to foreign investors in Romania. Its main goal is to attract and facilitate inward FDI into the country. InvestRomania is also the “one-stop-shop” for foreign investors, assisting and advising international companies for project implementation in the country. Foreign Investment Directorate contact details are: Website: <http://investromania.gov.ro/web/> http://investromania.gov.ro/web/ Address: 9-11 Promoroaca Street, 1st District, Bucharest, Romania Emails: <mailto:[email protected]> [email protected] <mailto:[email protected]> [email protected] Best regards! Olivia PETRE Minister-counsellor for Economic Affairs Embassy of Romania to the Republic of Finland Stenbäckinkatu, 24 Helsinki 00250, Finland Tel.: +358 (9) 241 44 14 Mobile: +358 45 186 61 28 Web: <http://www.helsinki.mae.ro/> www.helsinki.mae.ro E-mail: [email protected] <mailto:[email protected]> Follow us on <https://twitter.com/maeromania> <http://www.facebook.com/mae.romania> <http://www.youtube.com/maeromania> This message is confidential and is property of the Romanian Ministry of Foreign Affairs. It is exclusively destined to the person mentioned as addressee, as well as to any other person authorized to receive it. In case you are not the intended addressee, we hereby inform you that the disclosure, copying or distribution of the present i nformation, or the initiation of any action based on it are strictly forbidden and determine legal responsibility. If you have received it by mistake, please notify the sender and delete it from your system. Thank you.