WELCOME to BUCHAREST
INVEST NORTHERN IRELAND TRADE MISSION TO ROMANIA 4-6 November 2012
Good to know about
ROMANIA
Invest Northern Ireland Trade Mission to Romania and Bulgaria, Bucharest 4 November, 2012
ROMANIA SIMPLY SURPRISING?
Invest Northern Ireland Trade Mission to Romania and Bulgaria, Bucharest 4 November, 2012
ROMANIA OR SIMPLY CONFUSING?
Invest Northern Ireland Trade Mission to Romania and Bulgaria, Bucharest 4 November, 2012
ROMANIA
If you ask a Romanian consultancy company with 20 years experience in the market, we’ll tell you ‌
It is a Little Bit of Both !
Invest Northern Ireland Trade Mission to Romania and Bulgaria, Bucharest 4 November, 2012
ROMANIA Country & market overview
Invest Northern Ireland Trade Mission to Romania and Bulgaria, Bucharest 4 November, 2012
ROMANIA
Area (sq km) Population (mil.) Capital Language Currency Current exchange rate Highest point Lowest point GDP growth (2011) Average inflation GDP per capita (2011) Unemployment
237.500 kmp 19.5 ( estimates 2011) Bucharest Romanian RON Romanian Lei 1Euro=4.5RON Moldoveanu Peak 2500 m Black Sea 0 m 2.5% 2.4% (6 months 2012) 8.700 USD 7.5%
Invest Northern Ireland Trade Mission to Romania and Bulgaria, Bucharest 4 November, 2012
ROMANIA
Ranks 63 on the ease to start a business‌
Source: World Bank Doing Business Report, 2012
Invest Northern Ireland Trade Mission to Romania and Bulgaria, Bucharest 4 November, 2012
ROMANIA ‌ and 72 on the ease for doing business
Source: World Bank Doing Business Report, 2012
Invest Northern Ireland Trade Mission to Romania and Bulgaria, Bucharest 4 November, 2012
ROMANIA
Manufacturing counts for 32% from total FDI in industry Other Foreign Direct Investments:
19.1% Financial services & insurance 12.4 % Trade 7.4% Electricity, natural gas and water
Invest Northern Ireland Trade Mission to Romania and Bulgaria, Bucharest 4 November, 2012
ROMANIA Trade Export
45 billion Euro (+25%, 2010)
Main groups: vehicles and transport, manufacturing
Import
54.7 billion Euro (+20.5%, 2010)
Main groups: manufacturing, equipment, chemicals
Invest Northern Ireland Trade Mission to Romania and Bulgaria, Bucharest 4 November, 2012
ROMANIA Leading sectors: 1.
2. 3.
4.
Automotives: 4th largest manufacturer in CEE ( 9 billion Euro share , 2011) IT & C: 7 billion euro share in 2011 (GDP) Green Energy (18 billion euro projects investments by 2020) Oil & Gas ( 1st oil &gas producer CEE)
Invest Northern Ireland Trade Mission to Romania and Bulgaria, Bucharest 4 November, 2012
ROMANIA 5.
6. 7. 8. 9. 10.
Pharmaceutical Industry ( 2.4 billion euro market value in 2011) Telecom Industry ( 3.6 billion Euro in 2010) Food & beverages Tourism Aeronautics Shipyards
Invest Northern Ireland Trade Mission to Romania and Bulgaria, Bucharest 4 November, 2012
ROMANIA The Trade Mission Reports and Itineraries already give you the valuable inside information on opportunities for your business in Romania but also…cultural differences and local specifics can influence your business… ….so here’s what’s also good to know:
Invest Northern Ireland Trade Mission to Romania and Bulgaria, Bucharest 4 November, 2012
ROMANIA
Romanians – “A Latin island in a Slavic see”
Business culture:
Flexible (Italian Style) Creativity without borders Personal relations matter Fair English speakers (German language also popular in Transylvania) High business education profiles (in cities) High bureaucracy in government institutions
Invest Northern Ireland Trade Mission to Romania and Bulgaria, Bucharest 4 November, 2012
WHAT IMPRESSES ROMANIANS
Knowing the real Romania is different than media image. Using common ground statements Being open and practical Not avoiding price discussions Using Romanian words (makes an excellent impression!)
Invest Northern Ireland Trade Mission to Romania and Bulgaria, Bucharest 4 November, 2012
ROMANIA
HELLO = Buna ziua GOODBYE = La revedere PLEASE = Va rog THANK YOU = Multumesc YOU’RE WELCOME = Cu placere YES = Da ; NO = Nu I WOULD LIKE A BEER = As dori o bere WHERE IS THE TOILET? = Unde e toaleta? I WOULD LIKE TWO BEERS = As dori doua beri I HAVE A HEADACHE = Ma doare capul I LOVE ROMANIA = Iubesc Romania
Invest Northern Ireland Trade Mission to Romania and Bulgaria, Bucharest 4 November, 2012
WHAT IMPRESSES ROMANIANS Daring to eat local food (don’t miss “sarmale cu mămăligă”)
& appreciating Romanian wines
Take your chance tonight at La Mama! Invest Northern Ireland Trade Mission to Romania and Bulgaria, Bucharest 4 November, 2012
WHAT OFFENDS ROMANIANS Nothing really but good to avoid:
Calling the capital city BUDAPEST instead of BUCHAREST
Claiming Romanian language sounds like Russian or Hungarian.
Romania = Dracula, Ceausescu, gypsies, orphans and dogs in the streets
Not knowing who Nadia Comaneci, Hagi or Eugen Ionescu are
Gifting bouquets with even number of flowers
Invest Northern Ireland Trade Mission to Romania and Bulgaria, Bucharest 4 November, 2012
ROMANIA also good to know:
Dracula is not real!
Romanians like to make fun of everything and most of all of themselves
Romanians are frequently late but hardly will announce
Business meetings may end with follow-up plans that are not always followed
Traffic follows no rules, everything is possible on the street keep your eyes open and your sense of humor at the highest level
and‌Dracula is not real!
Invest Northern Ireland Trade Mission to Romania and Bulgaria, Bucharest 4 November, 2012
ROMANIA Everybody in Romania is more than willing to talk about football, politics, and‌women Football: any subject will do‌
Politics: referendum and parliamentary elections on 9th December, 2012
Women: Beautiful (and) mind
Invest Northern Ireland Trade Mission to Romania and Bulgaria, Bucharest 4 November, 2012
Northern Ireland in Romania
Habitat for Humanity NI people working team up with Romanians for building houses in Central Romania
Sunshine Foundation Romania Longer-term objective to build up to ten houses for the children living in Barsa Mica orphanage.
Invest Northern Ireland Trade Mission to Romania and Bulgaria, Bucharest 4 November, 2012
SURVIVING BUCHAREST
Don’t be shocked if the streets of Bucharest look like the aftermath of a bombing – it’s just the eternal infrastructure work in progress…
Only use yellow taxis that have a company name and tariffs clearly written on
Always make sure the taxi meter is running
Just because the crossing light is green, it doesn’t mean that the drivers care
Use only banks to exchange currency or draw cash from ATMs
Invest Northern Ireland Trade Mission to Romania and Bulgaria, Bucharest 4 November, 2012
IF EMERGENCY SITUATION ANYWHERE IN ROMANIA DIAL
Invest Northern Ireland Trade Mission to Romania and Bulgaria, Bucharest 4 November, 2012
TAXI IN BUCHAREST
Cobalcescu
FLY TAXI ( VISA )
0040 745 600 945 0040 21 9451 0040 747 99 9440; 0040 21 9440
Meridian
0040 730 33 9444; 0040 21 9444; 0040 21 9888
Invest Northern Ireland Trade Mission to Romania and Bulgaria, Bucharest 4 November, 2012
Your meetings in Romania Andrei Sarau M: 0040 726740181
BDP PDE MALLAGHAN TRACKARS
Claudiu Banu M:0040-720 720 613
ABP ASSA ACKSEN GEMS
Ciprian Nanu, Partner BDGroup M:0040 744 298803 Invest Northern Ireland Trade Mission to Romania and Bulgaria, Bucharest 4 November, 2012
QUESTIONS & ANSWERS
Invest Northern Ireland Trade Mission to Romania and Bulgaria, Bucharest 4 November, 2012