Romania | News

Total average income per household in Romania rose by 12.1% in the first quarter of 2023 vs the same period of last year, to RON6,979/month, namely RON2,797 per person, up 13%, in line with data from the country’s statistic board INS.

Romania’s M&A market registered 132 deals in the first half of this year, with a total estimated value of $3.7 billion, slightly up in terms of number, from 131 deals in 1H/2022, but down 11% by value, reveals an EY Romania analysis.

DS Private Equity (DSPE), a private equity firm based in Seoul (South Korea) has signed the term sheet agreement with Nuclearelectrica and Nova Power & Gas (part of the E-Infra Group), the shareholders of RoPower, which is the project company developing the Doicesti SMR Power Plant in Romania, with the intention to invest EUR75 million for the development of FEED 2 study.

Brillio, a US-based multinational company that has been present in Romania since 2020, is expanding its presence in Europe with the acquisition of CloudStratex, a London-headquartered advisory services company that helps clients build smarter, more agile, and efficient cloud infrastructure to accelerate digital transformation.

New car registrations in Romania increased by 19.03% on the year to a total 13,173 units in June 2023, data from the association of automotive manufacturers in Romania (ACAROM) showed on Tuesday (July 4). DRPCIV.

French-held TotalEnergies has bought a portfolio of five solar projects with a total capacity of more than 200 MW located in north-western Romania from Germany’s PNE, after taking over a similar portfolio in Poland this year.

Rinf Outsourcing Solutions (rinf.tech), a local company specializing in software development, consulting and BPO, has opened its third office in Romania, in the city of Cluj-Napoca, and intends to recruit 100 IT experts, company representatives said in a statement.

UniCredit analysts expect the economies in EU-CEE and the Western Balkans to grow by around 1.6% in 2023 and 3.1% in 2024, with Romania outperforming, and Czech Republic and Hungary lagging, the bank says in its latest quarterly Central and Eastern European report.

The Board of Executive Directors of the World Bank Group (WBG) on Monday (July 3) approved the second Inclusive and Green Growth Development Policy Loan (DPL) for Romania in the amount of EUR591.9 million.

US company Lockheed Martin, which produces Black Hawk helicopters and F-16 and F-35 aircraft, together with Aerostar Bacau, will open an MRO center for Black Hawk in Romania, in Bacau.

Austria's brick manufacturer Wienerberger neared a RON400 million turnover in Romania in 2022 due to a 25% year-over-year increase.

German fashion retailer Peek & Cloppenburg will open two new units in Romania this autumn, in Craiova and Iasi.

Minister for Foreign Affairs Dmytro Kuleba has said that Romania supports Ukraine's membership in NATO.

Mihai Draghici will be taking over the position of Partner of EY Romania in the Consulting department, starting July 2023.

Glovo, one of the leading actors on the fast delivery market in Romania, has seen more than 66 million orders in its first five years in Romania, its officials said during an event celebrating this milestone.

Irish fashion retailer Primark, famous for its large format stores and low pricing strategy, on Tuesday (June 20) opened its second store in Romania, in Bucharest-based AFI Cotroceni shopping center, following an investment of EUR10 million.

P3 Logistic Parks (P3), a long-term investor, owner, developer and manager of logistics properties in Europe, announced that Andrzej Wronski, Group Head of Asset Management within the company, will be taking over the role of Managing Director for P3 Romania, starting July 1, 2023.

Dacia Mioveni and Ford Otosan Craiova, the two car plants in Romania, manufactured 51,0125 vehicles in May 2023, 28.38% more than 39,822 units produced in May 2022, as per data from the country's carmakers association ACAROM.

Central and Eastern Europe, including Romania, is benefiting from the relocation of production activities from more far away countries, such as Asian ones, closer to consumers, particularly owing to the significantly lower costs compared to Western Europe, reads a report drawn up by real estate consultancy Cushman & Wakefield.

The largest actor in Romania’s economy is OMV Petrom (SNP.RO), which posted RON55 billion revenue in 2022, an increase of 137% year-on-year, followed by a company of the same group, OMV Petrom Marketing, which operates about 600 Petrom and OMV gas stations, and generated RON27 billion revenue.