Romania | News

Toy retailer Lego posted more than RON200 million sales in Romania in 2022, an increase of 28% year-on-year, public Finance Ministry data show.

The large organizations active in Romania begin to focus their efforts in the second half of 2023 on the human component, through an ever-increasing focus on ensuring a work environment in which the emotional safety of their employees comes first, according to an analysis carried out by executive search company Arthur Hunt Romania.

International law firm CMS advised HelleniQ Energy Holdings, one of the leading energy groups in South-East Europe with operations across the entire energy value chain, on the acquisition of four photovoltaic parks with a total capacity of 211 MW, developed in Romania by Mytilineos Energy & Metals.

Romania is shortly launching its first auction for a contract-for-difference (CfD) support scheme for renewable energy. Onshore wind power projects and solar photovoltaic (PV) projects with a total capacity of 2,000 MW will be supported through a CfD scheme for 15 years, the European Bank for Reconstruction and Development (EBRD) said in a statement.

A 211 MW solar portfolio developed in Romania by MYTILINEOS Energy and Metals has been acquired by Greece's energy group HELLENiQ ENERGY.

The number of foreign-owned companies newly established in Romania increased by 0.5% in the first half of 2023 to 3.493 units compared to the same period in 2022, as per data from the National Trade Register Office.

New car registrations in Romania increased by 23% on the year to a total 87,275 units in January-July 2023, data from the association of automotive manufacturers in Romania (ACAROM) showed on Wednesday (August 2).

Investment fund ACP Group wants to seal four-five deals this year in Romania, being in advanced talks for agreements in fields such as healthcare, retail and agribusiness.

The three largest mutual fund managers in Romania had RON11.2 billion worth of net assets under management at the end of June 2023, accounting for over 60% of the total net assets managed by the top ten mutual fund managers, up 14.1% in the first half of 2023, but down 28.2% in the last year ended on June 30, 2023.

Polish group CCC, owning the footwear brand of the same name, the second largest such retailer in Romania, but also epantofi and Modivo stores, has brought a new brand on the local market, namely HalfPrice, a low-price fashion retailer, active on the outlet segment.

UniCredit Bank is introducing in its portfolio a lending solution for micro-enterprises in Romania with a turnover of maximum EUR1 million.

Greek group Public Power Corporation (PPC), which in 2023 took over Enel’s Romanian assets, has signed an agreement with Lukoil’s European subsidiaries to entirely acquire Land Power SRL, which owns an 84-MW wind park in Romania.

Entrepreneurs and companies in Romania will have non-reimbursable funds worth more than EUR6.5 billion at their disposal this autumn, which can be used for investments in farming, green energy production or own consumption, recycling, food industry or building materials production.

Romania continues to rank 14th in the EU by the number of new cars registered in January-June, with a volume of 73,645 units, up 25.4% from the year-earlier period, of which 6,998 were full-electric ones and 20,933 hybrid ones, in line with data released by the association of automotive manufacturers in Romania ACAROM and the European Automobile Manufacturers Association ACEA.

Private equity fund BlackPeak Capital, founded in 2014 in Bulgaria, wants to make another portfolio investment in Romania this year after the investor completed a bolt on acquisition locally for euShippments, a services company of Bulgaria already part of the fund’s portfolio.

US giant Google has today launched in Europe, inclusively in Romania and the Romanian language, Google Bard, an AI-powered conversational chatbot that competes with the already highly popular ChatGPT and has similar capabilities, but also additional functionalities, such as reading messages in Romanian.

Romania’s insurers last year hit an all-time high in terms of total net profit, at RON773 million, double the 2021 level and more than 12 times higher than the 2020 one, in line with information published by Romania’s financial watchdog ASF in the report on the evolution of the insurance market in 1Q/2023.

IHG Hotels & Resorts (InterContinental) is expanding in Romania with the signing of the Indigo Hotel in Satu Mare, a brand debut in the country, according to the corporate website.

Orange, leader of Romania’s telecom market, part of the French group of the same name, will invest EUR200 million on the local market this year.

Romania’s trade gap in January-May 2023 shrank by 13.4% from the year-earlier period, to EUR11.05 billion, after exports rose by 7.5% and imports went up by 2.1%, in line with the country’s statistics board INS.