The annual increase of the added value produced by foreign companies in Romania was of just 2.6 pc between 2003 and 2008, while in the case of local companies the growth topped 5.9 pc, according to data released by the World Bank (WB), quoted by Mediafax.

In such conditions, local companies had the second highest increase of the added value across the region, over the interval submitted to the analysis, only outpaced by Polish companies, with 7.1 pc.

On the other hand, foreign companies active in Romania had the lowest annual growth rate of added value in Central Europe, behind those of the Czech Republic (4.3 pc), Poland (12.4 pc), Slovenia (10.1 pc) and Estonia (2.9 pc). The added value created by foreign companies in Romania is lower than that of local firms, and the lowest in Central Europe, which shows that foreign investments did not contribute too much to the national economy, Donato de Rosa, senior economist with the World Bank said Thursday.

In a different move, a quarter of the 760 existing state companies are losing money, have unviable assets and are ‘de facto’ in bankruptcy, so almost 100,000 employees might lose their jobs if these companies closed gates. Some of the biggest companies considered as being bankrupt ‘de facto’ are RADET, CFR SA, Oltchim, CFR Marfa, Termoelectrica, Compania Nationala a Huilei, CET Iasi, Electrocentrale Oradea, CET Brasov and Apaterm.

Source: Nine O'Clock