British investors' trust is not encouraged by the tax system in Romania whose unpredictability keeps them from placing money on the market, president of the British Romanian Chamber of Commerce (BRCC), Brian Davies said in a press conference.
- Publicitate -
The official said British investors need predictability and the unexpected taxes undermine their confidence. Simpler taxes could spur investors' trust to place money on the market, honorific president of BRCC, Lord Lamont of Lerwick, former finance minister said.
Currently there are approximately 3,200 British companies on the Romanian market, totalizing 630 million euros capital. Romanian exports to UK exceeded 180 million euros in the first quarter of the year while British exports to Romania reached 171 million euros.
British investments in Romania totalize 3.5 billion euros. The key fields which drew investments are electronics, IT, agriculture, infrastructure, aircraft industry, financial services, textiles, telecommunications and real estates.
Among the main investors from UK are Vodafone, Fonebak, Marks&Spencer, Aviva, Halewood, GSK, Cadbury, Alison Hayes, Linklaters, Provident Financial, BAE Systems, Coats, GKN, Boots, Costa Coffee, Debenhams, Mothecare and the Recas wine cellars.
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