INTERVIEW: Andrei-Peter Haschi, president of the Federation of Young Romanian Farmers, says more young people need to enter the agriculture business. Only one in ten local farmers is younger than 40, statistics show »page 7
ROMANIA’S PREMIER BUSINESS WEEKLY
OCTOBER 22 - 28 / VOLUME 16, NUMBER 34
HALLOWEEN THE COUNTRY MAY HAVE GIVEN THE WORLD DRACULA, BUT HOW DO ROMANIANS LIKE TO CELEBRATE HALLOWEEN? BR SURVEYED THE PROVIDERS OF THE BEST COSTUMES AND PARTIES FOR THE UPCOMING SPOOKY HOLIDAY »PAGE 12
Energy players are concerned about controversial provisions in the new energy law that block power trading »page 10
LEGAL UNCERTAINTY CLOUDS ENERGY INVESTMENTS NEWS
NEWS
NEWS
PLUS
Valley venture
Swiss role
Lidl has big plans
Software services and solutions company iQuest, whose largest site is in Cluj, opens an office in Silicon Valley, where it already has four clients
Local technical engineering firm Adrem Invest has acquired Swiss engineering company MTAG Marti Technologie AG in a EUR 2 million deal
German discount retailer Lidl is set to reach 160 local stores by February of next year, mainly in towns with fewer than 20,000 inhabitants
Oldie but goldie? BR reviews The Best Exotic Marigold Hotel » page 13
» page 4
» page 5
» page 6
Find out what’s on in town with BR’s cultural agenda » page 14
www.business-review.ro Business Review | October 22 - 28, 2012
NEWS 3
NEWS in brief AGRICULTURE Romania planning to limit farmland purchases by foreigners after ban lifted in 2014 Non-resident foreign citizens will be able to buy Romanian farmland and forestry from 2014, under Romania’s Treaty of Accession to the EU, but the Romanian authorities plan to set some limits, said agriculture minister Daniel Constantin, quoted by Mediafax. He said that next year Romania will take measures to prevent a phenomenon which “has frightened a lot of people”. The topic has been debated often over the past few years, with local farmers and many politicians arguing that Romania must find solutions to prolong the period during which it can restrict the purchase of local agricultural land by non-resident foreign citizens beyond 2014, as local agricultural land is still very cheap compared to the rest of the EU. The average price of a hectare of farmland was EUR 1,900 last year while the European average reaches EUR 15,000. According to available data, some 7 percent of Romania’s farmland is owned by foreigners through companies set up in Romania.
AUTO
farm, located in the Dobrogea region, by year end. The total investment is set to reach some EUR 1.1 billion. CEZ acquired the farm project in 2008 from Continental Wind Partners LLC, and the first turbine was launched in June 2010. On completion the site will have 240 turbines up and running. Still incomplete, the wind park generated 655.9 GWh of power in the first nine months of the year, supplying electricity to more than 600,000 households in Romania.
FINANCING EIB lends EUR 65 million to local SMEs The European Investment Bank (EIB) is lending EUR 30 million to the local subsidiaries of Raiffeisen Bank and EUR 15 million to Raiffeisen Leasing to finance projects by SMEs, mid-cap companies and municipalities in Romania, the lender has announced. It is also advancing EUR 15 million to Intesa Sanpaolo Bank and another EUR 5 million to Intesa Sanpaolo Leasing to finance the same type of projects. The EIB funds will co-finance both investment and working capital projects in the areas of industry and services, including tourism, as well as small and medium-scale infrastructure schemes run by local authorities.
Romanian car registrations fall 31 percent The Romanian car market was the third worst performer in the EU last month, falling by 31.1 percent, above only Greece and Spain which posted falls of 48.5 percent and 36.8 percent respectively, according to the European Manufacturer’s Association (ACEA). Some 4,736 passenger cars were registered in Romania in September, down from 6,875 units in the same period of last year. Meanwhile EU registrations dropped 10.8 percent to 1,099,264 units. Nine months into the year, car registrations in Romania declined 12.1 percent to 49,128, while in the EU 27 they fell by 7.6 percent to 10.1 million units.
ENERGY Local CEZ wind farm becomes largest in Europe Czech utility CEZ last week connected the 216th wind turbine to the grid, taking the total installed capacity of the Romanian Fantanele-Cogeleac wind farm to 540 MW, making it the largest onshore wind project in Europe. CEZ aims to complete the 600 MW
INVESTMENTS E&Y: local M&A market soars 86 percent to USD 901 mln in H1 The M&A market in Romania grew by 86 percent to USD 901 million in the first semester with the average deal size up 67 percent, but analysts at Ernst & Young (E&Y) warn this is not a comeback and that deal-making is likely to lose steam in the second semester. The market experienced a slight increase in the number of sealed deals on H1 to 67, according to the M&A Barometer published by the professional services firm. Disclosed deals are up 74 percent to USD 384 million. The transaction value was made public only for 26 deals, a disclosure rate of 39 percent. The growth is sustained by large individual transactions, such as the acquisition of Prio Foods oil factory by Bunge, the purchase of Rombat by Metair Investments and the acquisition of MKB Romexterra Bank by the investment fund PineBridge Investments.
PROPERTY Sonae Sierra and Caelum Development revive on-off ParkLake Plaza mall project Portuguese shopping center developer and owner Sonae Sierra and Irish developer Caelum Development have announced they have sealed a 50:50 joint venture agreement for the development of the ParkLake Plaza shopping mall in the Titan neighborhood of Bucharest. The project will require a EUR 185 million investment. This is the second joint venture agreement the two companies have reached to build the same project after the first one, signed in 2008, was annulled. The now notorious ParkLake Plaza shopping mall was first announced in 2007, when it was supposed to be the largest retail center in Bucharest. Caelum Development had plans to invest EUR 500 million in the project, which was initially supposed to have a gross leasable area of 110,000 sqm. One year later, the Irish developer formed the first joint venture agreement with Sonae Sierra but this was later torn up.
Adama invests EUR 14 mln in 210 apartments in Bucharest Real estate developer Adama will invest EUR 14.11 million in building two more apartment blocks in Bucharest. The announcement that the firm will resume investments on the Romanian market comes after it was taken over by Austrian real estate investor and developer Immofinanz Group for EUR 42 million last November. The two buildings are part of the Edenia Titan and Evocasa Optima residential projects located in the Titan neighborhood and will consist of 210 apartments – studios, one-bedroom and two- bedroom flats.
BUSINESS AGENDA October 22 11:00 BCR Banca pentru Locuinte organizes a press conference to present the results of a survey on the Bauspar market outlook at the Antipa Cafe. By invitation only.
October 24 HART Consulting organizes the fifth edition of HART Strategic Conferences on talent management at JW Marriott Hotel. By invitation only.
October 25 10:00 Goodwill Consulting organizes a roundtable on state aid at Athenee Palace Hilton. By invitation only. 11:00 LeasePlan organizes a press conference to mark 5 years of activity on the Romanian market at Howard Johnson Hotel. By invitation only. 11:00 Magana organizes an event to mark the launch the Exteriors & Interiors Magna Factory in Craiova. By invitation only.
October 30 15:30 - 19:00 The Ministry of Agriculture and the Italian Embassy in Romania organize a seminar on agricultural development at Athenee Palace Hilton Hotel. By invitation only.
November 1 Pachiu&Associates Law Firm organizes the AEEC Autumn Conference on renewable energy at Capital Plaza Hotel. By invitation only.
November 8-9
RETAIL Carrefour to open six supermarkets in Constanta The six Aliment Murfatlar stores rented in Constanta by French retailer Carrefour earlier this month will be rebranded as Carrefour supermarkets, the firm has announced. The outlets will be opened “in the near future” providing a total sales area of 3,425 sqm. The company already has a hypermarket in Constanta. Locally, Carrefour runs 24 hypermarkets, 59 supermarkets and 8 proximity stores.
The European Commission and the Post-Privatization Foundation the ninth EMN Annual Conference Building sustainable Microfinance in Europe at Crowne Plaza Bucharest. By invitation only.
November 15 ∫EVENT 09:00 Business Review organizes the second edition of Focus on Agriculture, an event that will discuss the latest developments in the Romanian agricultural sector, at Ramada Plaza Bucharest. By invitation only.
www.business-review.ro Business Review | October 22 - 28, 2012
4 NEWS SOFTWARE
iQuest opens office in Silicon Valley, forecasts EUR 19 mln turnover for 2012
Corneliu Brody, CEO of iQuest, which has four clients in the US market
I
Quest, specialized in tailored software services and solutions, has opened an office in Palo Alto, Silicon Valley, to cater for several clients that it already has on the American market. The unit began operating six months ago. Currently the firm does not have a permanent team based in California. “We have people from Cluj and Brasov who go and work there for several months,” said Cornelius Brody, the company’s CEO. iQuest now has four clients on the US market, including a big telecom company, a financial-banking institution and a media advertising firm. This year’s turnover forecast for the company is EUR 19 million, up at least 20 percent on the previous year. Most of its revenues (90 percent) come from projects delivered to companies in Western Europe, especially Germany, Switzerland, Great Britain and the Scandinavian countries. iQuest currently has a total headcount of 450 employees involved in projects in areas such as telecom, life sciences, retail, financial services, logistics and media. The company has regional development centers in Brasov, Cluj-Napoca and Sibiu as well as consultancy offices in Bucharest, Gothenburg, Budapest and now Palo Alto. Its main headquarters are located in Frankfurt am Main. The firm has seen through 90 percent of its employment plans for this year, having already hired 93 people for its Romanian centers. In 2013 it will recruit 40 more people in Brasov, specialized in Java, .NET and SharePoint technologies. “One of the pitfalls for many software firms with several years of activity behind them is maintaining a generalist approach. As a company, you can specialize on the horizontal, by going into things that are independent from a cer-
tain industry such as big data or you can specialize on a certain vertical, by choosing an industrial sector. At the moment we are in a period of transition from an organization based on technologies to an organization across the horizontal and the vertical, and this is expected to take a few more years,” said the CEO. The center in Brasov, where iQuest is celebrating 10 years of presence, is mainly specialized in delivering solutions for clients in the telecom industry. “We made the first step towards this new type of organization last year with the telecom vertical and next year we will grow our life sciences business unit. The division for telecom is located mainly in Brasov, but we also have people working on this in Cluj. As for the life sciences division, most of our colleagues are in Cluj, so it is likely that it will be located there,” said Brody. At the moment, the largest client for which the team in Brasov is working is the Swiss company Sicap, which delivers solutions and services for the telecom industry. “We believe the market in Brasov is comparable from many points of view with the ones in Cluj and Sibiu. Compared to the size of the labor force in IT, given the companies in this area, Brasov is as competition-driven, it has welltrained people, and salary demands are aligned with those in the two cities where we are present. We believe Brasov is in continuous development and IT people are becoming better and better prepared,” said Brody. On foreign markets, iQuest faces competition from large multinationals as well as local players from those particular markets. “We are shortlisted quite often along with corporations such as IBM, Hewlett-Packard, Accenture, Tata Consulting and Infosys,” said the CEO. ∫ Otilia Haraga
www.business-review.ro Business Review | October 22 - 28, 2012
NEWS 5
ENERGY
Adrem Invest makes Swiss acquisition
Corneliu (left) and Adrian Bodea, vice-president and president of Adrem Invest
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drem Invest, a Romanian technical engineering firm, has acquired the Swiss engineering firm MTAG Marti Technologie AG in a deal worth EUR 2 million, in a bid to expand its industrial presence in Western Europe. The transaction included the acquisition of a US subsidiary and the takeover of around 30 Swiss and US specialists. Following the move, the company has been renamed MTAG and MTUS. MTAG holds 22 percent of the Swiss market in steel gassing in vacuum systems. It has worked with major players in the steel industry such as Russian TMK, Italian ASO and Austrian VAG. “We believe the Swiss acquisition will allow us to grow the export market,” said Corneliu Bodea, vice-president of Adrem Invest. He estimated the company will gain 37 percent in turnover to RON 171 million (around EUR 37 million) this year, with EUR 5 million coming from external markets. “Since the start of the crisis, the steel industry has been the worst hit. We were saved by the Chinese market and the fact that we have other activities,” said Bodea. The company has four divisions ranging from automatization services to renewable energy.
Planned investments Adrem Invest plans to extend its process engineering division and has landed a EUR 5.5 million contract in China. It will supply the vacuum pump for the world’s largest installation for the degassing of liquid steel. The firm is researching hardware equipment and software solutions to accommodate the large-scale use of smart grid technology. This is done
through its own R&D center, which was allotted EUR 200,000 this year. The engineering firm is the leading supplier of SCADA solutions and provides automatization services for utilities, according to Bodea. Adrem Invest is planning EUR 1.5 million of investments by 2013 in developing the maintenance service of medium- and low-tension lines. It has invested EUR 700,000 in streamlining power meter operations. The firm handles the reading of electricity meters of Czech utility CEZ and partially for German E.ON. It has an ongoing pilot project with Italian utility Enel for one area of Bucharest and Dobrogea. In the green energy division, its largest project is the biomass-fueled cogeneration plant in Suceava. The investment exceeds EUR 90 million, and 70 percent of the financing comes from Raiffeisen Bank International. The equipment will be provided by the Austrian firm URBAS, while the biomass will be supplied by the Austrian wood-processing firm Schweighofer. The plant is expected to become operational by next winter and is set to provide thermal energy to 60,000 inhabitants of Suceava, mostly flats connected to the centralized heating system. Aside from the cogeneration project, Adrem is in the final permitting stages of a 10 MW photovoltaic park in the Buzau region, which it wants to sell. The company, which employs 835 people, has no plans to cut back on staff next year, but will be striving for more efficiency, according to its vicepresident. ∫ Ovidiu Posirca
www.business-review.ro Business Review | October 22 - 28, 2012
6 NEWS PARTNER CONTENT
RETAIL
The Ball Gets Rolling: The Romanian Spectrum Auction Results
Lidl to reach 160 local stores by February 2013
by Madalin Lazarescu Research Manager, IDC Romania
On September 24, 2012, ANCOM, the Romanian telecommunications regulator, announced the results of its auction of spectrum in the 800 MHz, 900 MHz, 1800 MHz, and 2600 MHz frequency bands. The auction's results confirmed the leading positions of the most significant mobile network operators in Romania, but should also provide the seeds for additional competition from several other mobile network operators and open the market to competition from mobile virtual network operators (MVNO). Nonetheless, the results suggest that the regulator will have to closely monitor market developments to ensure that the auction has its desired market effect. In line with IDC's expectations for the auction, the results of the spectrum auction have confirmed the leading positions of Orange Romania, Vodafone Romania, and Cosmote Romania, as these mobile operators collected most of the available spectrum. Still, RCS&RDS, a leading Romanian cable services provider, and 2K Telecom, a less well-known provider of enterprise telecom services, also obtained some spectrum, which should boost their capabilities. Positively, it stands as confirmation that the existing leading mobile players in the market are committed to the market and its prospects. Orange, Vodafone, and Cosmote have all invested in improving their 3G networks in recent years, especially in major urban areas, and consumers have benefitted from competition between these operators on both price and speed. Moreover, the auction results should bring MVNOs to the market, particularly over Cosmote's network. This should benefit both Romanian con-
sumers and Cosmote. Romanian consumers stand to benefit from the introduction of even stronger competition on price, which is important especially for mobile consumers with relatively low disposable incomes. Meanwhile, Cosmote, which is the third mobile operator in Romania by number of subscribers, can potentially enable MVNOs as a competitive move against its larger competitors. More negatively, the auction did little to change the overall trajectory of the Romanian mobile services market. Orange, Vodafone, and Cosmote still control nearly all available spectrum, and there is little reason to think that the minimal amounts of spectrum obtained by RCS&RDS and 2K Telecom will significantly change the competitive structure of the market. Moreover the rural coverage requirement of 356 Kbps minimum downlink speed that will be placed on 800 MHz and 900 MHz spectrum winners will still leave rural areas without true broadband coverage unless operators go beyond their obligations. Romania has one of the lowest fixed broadband availability rates for rural areas in all of Europe at 60%, which suggests that the country is already characterized by a significant digital divide. The auction's rural coverage requirement will bring some form of Internet access to nearly the entire country, but it is hard to imagine that a 356 Kbps connection speed will be sufficient in 2016, let alone in 2026 as the operators' licenses near expiration. Further, there is no guidance with regard to pricing this rural broadband coverage. Given rather low consumer spending power in rural areas in Romania, this could keep take-up rates low if operators do not price their services at a point that creates demand. This is especially likely to happen if only one operator covers a particular rural area and there is no competition between operators. Ultimately, the success of the Romanian spectrum auction now depends on how competitive conditions in the market evolve and drive investment in operators' networks.
Madalin Lazarescu Research Manager, IDC Romania
More in store: Lidl’s expansion plans target 160 branches by February 2013
G
erman discounter Lidl opened two stores in Bucharest and Oradea last week, taking its local chain to 148 outlets. Another 12 branches will be opened by the end of February 2013, confirmed Georgiana Tugearu, PR manager at Lidl. The retailer opened 107 stores last June after having invested in rebranding the local Plus Discount supermarkets under its own name. The change took place more than a year after it bought the low-cost chain Plus from German
owner Tengelmann in February 2010. Throughout 2011, 22 new Lidl stores were built. Another 19 have been opened so far in 2012 and others will follow by the end of the year. The company said it plans to maintain a similar expansion pace in the coming years but did not disclose the actual investment in a Lidl unit or its total expansion budget. When deciding the location of its stores the discounter chooses areas with a high population density, said Tugearu. At present, the Lidl chain is expanding from towns with a population of under 20,000 inhabitants such as Campulung Moldovenesc to the capital Bucharest where 11 stores have been opened so far and at least another one will follow. Lidl discount stores have sale areas of between 950 and 1,286 sqm. Some 80 percent of the products sold by the retailer are private labels, some of which are produced in Romania. The retailer also operates three logistic centers locally, located in Chiajna, Nedelea and one in Iernut, which was opened this September. Part of German Schwartz Group, Lidl is present in more than 20 European countries with a network of some 9,000 stores and over 100 logistics centers. It employs over 170,000 people. âˆŤ Simona Bazavan
LEGAL
Public acquisitions framework requires improvement and flexibility says ZRP
P
ublic acquisitions in Romania are worth tens of billions of euros each year and are important business for many companies. But while progress has been made in recent years with regard to their legal framework there is a need for further improvement and more flexibility, according to a recent report put together by law firm Zamfirescu Racoti Predoiu. This can also be seen from the value of contestations related to public acquisitions dealt with by the National Council for the Solving of Contestations (CNSC) which reached EUR 13 billion last year. According to the CNSC activity report for 2011, 39 percent of the contestations formulated last year were related to tender documentation while the remaining 61 percent had to do with the result of the tender. Some 32 percent of the contestations addressed last year were admitted. According to the report, some of the problems companies interested in participating in public tenders face in Ro-
mania include the setting of excessive participation conditions for bidders by the contracting authority and overestimating the value of the contract which leads to some offers being disqualified because they are considered excessively low, said Laura Iarca, senior associate with ZRP. Other issues are that sometimes the contestation options available to bidders are inefficient and the authorities can confuse the qualification criteria and the content of the technical offer. At present the authorities plan to bring several changes to the Emergency Ordinance 3/2006 including imposing the obligation that contracting authorities list all the qualification criteria in the tender documentation and publish the name of the public workers taking the decision in the public bid so that there is no conflict of interest. Also, the authorities want to change the share under which a bidding price is considered unusually low. âˆŤ Simona Bazavan
www.business-review.ro Business Review | October 22 - 28, 2012
INTERVIEW 7
Seed money remains chief issue for young farmers Only one out of ten farmers in Romania is younger than 40, according to some estimations. This must change and young people need to enter the industry, Andrei-Peter Haschi, president of the Federation of Young Romanian Farmers, told BR. But how easy is it for a young person to cultivate a local farming business?
CV Andrei-Peter Haschi
∫ SIMONA BAZAVAN Why did you decide to set up the Federation of Young Romanian Farmers and what are its long-term plans? There are already several other groups or associations representing the interests of young farmers but none of them had national coverage. We decided to set up this federation in order to represent the interests of young Romanian farmers. Similar national structures exist in all other EU states. We have also become members of the European Council of Young Farmers, which represents all those working in agriculture and rural development at EU level. The federation was founded this May, and for the beginning the objective is to reach national coverage. We already have branches in 23 counties. At the same time we are taking the necessary steps to be present in all the committees and working groups where decisions related to agriculture are taken at national level. Also, our members are running in the elections to select the leadership of the chambers of agriculture this autumn. Who is eligible for membership and what are the conditions for joining? We are talking about people under the age of 40 working in agriculture or rural development. The profile of our members varies a lot – from people involved in drafting and managing agricultural projects to actual farmers working the land. A very important condition for all of them, however, is to be active members. They have to be involved in what we do. Moreover, this will be monitored and it is a condition for those interested to evolve inside the association. We want to show that young people have a different approach. The most important thing for us is to offer our members access to important information in due time, information that they will be able to use in their daily activities. This is also why we are looking to have members from all possible areas related to agriculture and rural development. Of course, we will also work together with other associations. Is agriculture an attractive sector for young people and young entrepreneurs? Yes, of course it is interesting. On the other hand, so is flying a plane but this
2010 present – executive director at APIA, Harghita branch 2010 state secretary in the Ministry of Agriculture and Rural Development 2006 – 2010 deputy executive director at APIA, Harghita branch for the Agency for Payments and Interventions in Agriculture (APIA) and I have seen this a lot. Many begin by looking at what they can do in order to get the EU money available under some measures rather than coming up with a project and a business plan, starting with their own money and perhaps getting a loan and then considering further investments and looking at what EU funds can be accessed for their specific business.
does not mean everyone is qualified to do it! When we talk about young people and agriculture I believe that problems start very early, with the education system, which does not provide basic information about what agriculture is. What are the main challenges young local farmers face when looking to start a business? Getting the necessary financing is an important aspect. For example, to cultivate just one hectare of potatoes the necessary investment is RON 10,000 (e.n. approximately EUR 2,200). This is a very large investment for just one hectare. To set up an animal farm is also costly. Of course there are crops which require less money but, nevertheless, I think one needs a lot of money to start an agriculture business. This is not necessarily discouraging
but the truth is that in their relations with banks young farmers are disadvantaged compared to older ones simply because of their age. Not only this, but agriculture is seen as a risky business by banks in general. It is very difficult for them to get loans. On the other hand, when it comes to accessing EU funds, their age is actually an advantage and projects gain additional points based on this criterion. There are several projects dedicated to young farmers such as the young farmers’ installation scheme, which offers them between EUR 25,000 and EUR 40,000 to enter the agriculture sector. It may seem like a lot but this is not very much to start a business. But the biggest problem when it comes to young farmers, and not only them, is that there is some sort of backward planning when people are considering how to start a business. I also work
What is usually the background of young farmers in Romania and are they interested in accessing EU funds? Many young farmers start by helping their parents and later take over the holding or a small farm from them – especially when they see that when accessing EU funds they score additional points for the projects they submit because of their age. I think that those who take over a small holding from their parents – and I’m talking about 2 or 3 hectares of land or no more than 5 cows, can turn it into a business in 5 or 10 years. When talking about larger businesses, meaning more than 200 hectares of land or 100 cows, young farmers usually work with their parents in the business. I don’t have statistics but I don’t know of many young farmers starting a business from scratch. Usually they begin by inheriting a piece of land. As for EU funds, the demand often surpasses the available funds. For example this year in a single application session for Measure 112 (the young farmers’ installation scheme) projects worth EUR 272 million were submitted, equivalent to all the money available through that measure until the end of 2013. simona.bazavan@business-review.ro
www.business-review.ro Business Review | October 22 - 28, 2012
8
Telecom companies grapple with technical and cost-efficiency challenges With the launch of LTE (4G) in Romania come major technical challenges brought by the soaring number of devices and the hike in data traffic. Some coverage issues must also be dealt with as the remaining blank areas with no internet access are brought into the loop. And telecom operators will be faced with decreasing margins caused by the slashing of termination rates, it emerged at the Business Review event Focus on Telecom. LTE/4G deployment must deal with data demands
∫ OTILIA HARAGA Termination rates players concern
cause
“The next challenge for the Romanian market is the level at which termination rates are set,” said Jean-Francois Fallacher, CEO of Orange Romania, opening the discussion on a sensitive industry topic. Termination rates are the cost paid by a telecom operator (whether based in Romania or abroad) to another for finishing the calls of its clients in the latter’s network. This fall, the rates were slashed by 24 percent to 3.07 eurocents per minute, under European regulations brought in to benefit the end-user and boost competition. Overall revenues obtained by telecom operators from the termination of voice calls amounted to EUR 0.47 billion, 13 percent of the overall value of electronic communications, according to national regulator ANCOM. The chiefs of Cosmote Romania and Orange Romania appealed to ANCOM to set these rates taking into consideration operators’ future investments in the deployment of 4G and the coverage of blank areas, under the newly acquired licenses. “We’re talking about cents, but we must in fact multiply this by millions. Depending on the level of these tariffs in Romania, they will really impact us. We will need to invest in LTE in 2013 and probably 2014 as well. Give us the room to complete these 4G investments. If these rates go very low, we will have huge constraints,” said Fallacher. Stefanos Theocharopoulos, CEO of Cosmote Romania and Romtelecom, shared this view. “We have the lowest prices for customers in Europe. In view of the huge investments that we are making and have already made, we would like to see some relief so that we can use the money to deploy the networks,” he said. In response, Catalin Marinescu, president of ANCOM, explained that there are different termination rates across Europe. By the end of 2012, all EU national regulatory authorities should define a hypothetical efficient operator model and, based on this operator’s costs, calculate the termination rates in every country. “When termination rates drop, operators’ revenues will indeed decrease but their costs will decrease as well,” said Marinescu.
“LTE is a matter of evolution. We will have much faster internet access and the applications that we already use will be more user-friendly. Obviously the faster speeds will also give ground to new applications that will be developed. But I don’t believe that from one day to another, we will see a huge difference in terms of applications. We will see a huge difference in terms of service quality,” said Theocharopoulos. With the introduction of LTE, one of the major challenges will be the explosive volume of traffic which mobile networks must carry. “In 2015, based on Alcatel-Lucent studies, we expect operators to have to carry 10 times more traffic than Google is doing per month today, due to the number of smartphones, tablets and other inter-connected devices,” said Florin Petolea, CEO of Alcatel-Lucent Romania. To connect all these devices, major infrastructural challenges must be addressed. The traditional model of installing a new radio site or tower on top of a building is no longer feasible with 4G/LTE deployment, because of the high density of mobile devices per sqm. “This is also very expensive for the operator. It takes too much time, you need to have a work permit, you need to build the site and there are more concerns regarding health and the environment,” explained Petolea. “This is why we believe 4G/LTE will also bring a shift in how the mobile networks are deployed.” The new telecom architecture deployment model should consist of small cells on the side of the building or street poles. “You will have a low-power, small device for 16, 24, 32 users, which will be a very localized way of carrying the traffic from the subscriber,” added Petolea. “It is better to have one cell which is shared between a few users than to have a macro-cell like today, which is shared by 1,000 or 2,000 users.” Today, the number of smartphones per square meter is around 300. “We expect there will be 13,000 such devices connected to LTE in 2015,” said Petolea. In terms of local handset sales, the market is “more or less stagnant. However, on the smartphone segment, the growth is really fast,” said Sorin Manea, telecom division manager for Romania & Bulgaria, Samsung Electronics Romania. “I estimate that in December, one
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1. Stefanos Theocharopoulos, CEO Cosmote Romania and Romtelecom (left) and Jean-Francois Fallacher, CEO Orange Romania (right) 2. Catalin Marinescu, president, National Authority for Administration and Regulation in Communications (ANCOM) 3. John Gole, director of the Telecoms Practice, Central and Eastern Europe, Middle East and Africa, IDC 4. Florin Petolea, CEO Alcatel-Lucent Romania 5. Alexander Benczek, lawyer focusing on telecom, ICT, IP, media and competition law
www.business-review.ro Business Review | October 22 - 28, 2012
out of three handsets will be a smart- ble terminals. “I estimate there will be phone, which means about 30 percent between 50,000 and 100,000 terminals that will have NFC in Romania,” said of the Romanian handset market.” Tablets are also a fast-growing seg- Manea. However, there are still certain ment. “In H1, sales of tablets were equal obstacles in the way of NFC implemento total sales last year and I expect that tation. “To implement NFC, you must in the second half of this year it will be have banks, mobile telephony compadouble compared to H1,” predicted nies, POS providers and others on board,” said Voinea, adding that retailers are still Manea. At the moment, Romanians are not familiar with this technology. Moreamong the “champions” in nomopho- over, banks are not always willing to get bia, where people dread being out of on the bandwagon. “We have already mobile phone contact. Some 80 percent led discussions with banks which can of Romanians are dependent on having be split into two categories: the innovatheir mobile phone on them all the time, tors and the followers, who only align to according to Doina Costache, business a trend after the critical mass is already development official at Google Roma- onboard,” said Voinea. nia. By comparison, only 53 percent of users suffer from this in the UK. Blank areas dilemma – fixed On top of that, Romanians are very or mobile coverage? active on their smartphones. Some 73 With their newly won telecom licenses, percent access the internet from their operators will be under the obligation to smartphone and 94 percent of these roll out internet infrastructure to previusers act within 24 hours after search- ously uncovered regions. At the moing. Furthermore, 70 percent called a ment, these blank zones consist of local business after searching and 66 approximately 676 small villages split percent visited a business in person among the new owners of the licenses after looking on the internet, she said. in the 800 MHz and 900 MHz bands. Nowadays it is vital for businesses to “This is a measure to allow the provision have a mobile-friendly website, as 67 of services in Romania on the mobile percent of users are more likely to buy side because as far as fixed services like from such a website. Furthermore, 61 optical fiber are concerned, owing to percent would quickly turn to a com- the past conditions in Romania it is not petitor’s website after a bad mobile ex- possible to do in the next few years,” perience, said Costache. One of the said Marinescu. conclusions from these statistics is that However, costs are a very sensitive mobile-based services will grow wings. topic for operators who are considering Already, such services have been intro- which technologies can be deployed in duced on the Romanian market. the more cost-effective and optimum “Mobile payment transactions have manner in remote regions. soared by 15 percent compared to the “Romtelecom has quite an extensive same period last year. Public utilities presence in rural areas: I dare say we are services such as means of transporta- the operator with the most extensive tion, parking, and other payments will presence there right now. The big quesbe easier to monetize via SMS on the tion is which technology – fixed or momobile,” said Gabriela Voinea, senior bile – is better and most cost-effective?” partnership manager at Orange Roma- asked Theocharopoulos. Cosmote is nia. under the obligation to cover about 192 In the future, “concepts such as mo- blank areas with internet, said Maribile wallet and mobile payment will be nescu. something that will happen right under “I have to say that deploying fixed our eyes,” said Antonio Eram, founder networks is very expensive, very diffiand CEO at mobilPay.com and Netopia cult to maintain and lengthy to impleSistem. “In three years, payments via ment. So maybe the strategy will switch mobile phone will be a common thing, at some point from fixed to wireless beespecially in a country like Romania cause it seems that wireless is more cost where more than 80 percent of the pop- effective and you can deploy it more ulation suffers from nomophobia,” said easily and faster,” said TheocharopouEram. los. On this theme, worth mentioning is Orange is under the obligation to that conditions are auspicious for the cover 223 blank areas in Romania, anlaunch of near-field-communication nounced Fallacher. “I think in Romania (NFC) in Romania, which facilitates wireless and mobile is extremely imporcontactless transactions with the mo- tant because it is a way that will open bile phone. “On other European mar- the coverage of rural areas and blank kets, there are already very interesting zones,” said Fallacher. initiatives in this direction,” said Voinea. Romania already has NFC compati- otilia.haraga@business-review.ro
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Photos: Silviu Pal
1. Panelists in the second session of BR Focus on Telecom 2. Andreea Belenes, consumer division manager Orange Romania 3. Panos Makris, chief commercial officer, Cosmote Romania 4. Razvan Pirvu, head of marketing and strategy, SouthEastern Europe, Ericsson 5. Antonio Eram, founder & CEO, mobilPay.com and Netopia Sistem 6. Gabriela Voinea, senior partnership manager, Orange Romania 7. Vasile Voicu, director product management B2B, Romtelecom 8. Sorin Manea, telecom division manager (Romania & Bulgaria), Samsung Electronics Romania 9. Doina Costache, Business Development, Google Romania
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www.business-review.ro Business Review | October 22 - 28, 2012
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Energy sector hit by legal setback Players in the energy business are growing concerned as the new energy law contains some controversial provisions that block power trading. The country needs fresh generation capacities and smart grids could make the sector more efficient. These were some of the pronouncements made by energy and banking specialists who attended the third edition of Focus on Energy, organized by Business Review last week. ∫ OVIDIU POSIRCA
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In July Romania enforced the energy law that transposed EU regulation of the third deregulation package for the natural gas and electricity markets. However, certain issues have arisen in the law that may force foreign investors to reconsider their investments in Romania, warn specialists.
Energy needs predictability
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sory services, energy & resources, corporate finance at professional services firm Deloitte Romania. “The bankers said that with this provision, the files they are analyzing have been set aside. (They say) until this provision is clarified, we can't finance,” said Binig. Ioana-Anca Gheorghiade, executive director, project finance at BCR, stated that contracts for power and green certificates are needed to make the project revenue predictable. She said BCR has
1. Lucian Palade, electrical energy market consultant 2. Otilia Nutu, energy and infrastructure expert, Expert Forum 3. Catalin Micu, managing associate, Zamfirescu Racoti Predoiu 4. Cristina Setran, program director, Projects Development and Implementation, OPCOM 5. Alexandru Sandulescu, general director, General Directorate for Energy, Oil & Natural Gas, Ministry of Economy 6. Valeriu Binig, director, Financial Advisory Services, Energy & Resources, Corporate Finance, Deloitte Romania 7. Emil Constantinescu, project manager, Enel Romania 8. Ioana-Anca Gheorghiade, executive director, Project Finance, BCR 9. Calin Vilt, independent expert 10. Florin Anghel, vice-president, Schneider Electric Romania 11. Nicola Bogdanović, manager Generation Development, Repower Vanzari Romania 12. Lusine Caracasian, director, Cooperation and Programs Department, ANRE
Contracts need helping hand The buoyant renewable sector has been severely hit as the law hinders the closing of Purchasing Power Agreements (PPAs), which makes projects unbankable. “Producers can’t sign contracts that facilitate the financing,” said Catalin Micu, managing associate at law firm Zamfirescu Racoti Predoiu (ZRP). He added the law further states companies in the same group can’t use the electricity produced by group companies. This will lead to an artificial spike in prices. “Investors are reluctant to invest in Romania as they can’t set business plans that ensure reasonable predictability for the investment recovery,” warned Micu. The off-exchange provision affects both renewable and conventional sources and banks are waiting to see what happens with the law, according to Valeriu Binig, director, financial advi-
All photos: Mihai Constantineanu / Hadas Eldar
Power producers are now obliged to trade their output on the centralized OPCOM platforms. Authorities argue this will make trading more transparent and this has certainly happened for state-owned companies. Hidroelectrica, the largest hydro-power producer in Romania, was able to sell electricity at market prices for the first time in years, after it dropped disadvantageous contracts with several private firms. Hidroelectrica was also able to cancel supply contracts of cheap energy after entering insolvency, but it impacted investors’ perceptions of the company. “A few hundred million euros have gone down the drain due to the Hidroelectrica deal. This is forgone money,” said Nicola Bogdanovic, manager of generation development at Repower Vanzari Romania, a Swiss-based utility. The firm plans to make the first acquisition of a generation asset next year. Bogdanovic said that most of the good projects in large hydro power are still under the influence of Hidroelectrica.
www.business-review.ro Business Review | October 22 - 28, 2012
financed grid investments and is open to funding co-generation projects. BCR has financed 125 MW in renewable, including three projects in wind, several in small-hydro and one photovoltaic park. The PPA issue could be solved either through clarifications in the secondary legislation or through the setting-up of a special market for these contracts at OPCOM, according to Alexandru Sandulescu, general director, general directorate for energy, oil & natural gas at the Ministry of Economy. The energy firms, backed by the American Chamber of Commerce, the Foreign Investors Council and other business association, are currently negotiating a draft bill to accommodate the PPAs with the energy regulator ANRE. A special license could be set up for PPAs or a special platform could be implemented on the OPCOM that allows long-term trading, according to Lusine Caracasian, director of the cooperation and programs department at ANRE. However, it still remains uncertain when and how is the law going to change. “The law looks like this because a special law for state-owned companies to sell at competitive prices wasn’t desired,” said Otilia Nutu, energy & infrastructure analyst at Expert Forum, a Romanian think tank. “The regulation shouldn’t have applied to private consumers.” Lucian Palade, electrical energy market consultant, stated the main issue of the law is that producers can’t
11 export as they are stuck in the wholesale market. “As the law is right now, no matter how many national champions we may have, they can’t export,” stated Palade.
Grids can be smart Romania doesn’t have flexibility in the grid and around 70 percent of the local renewable problems could be solved by looking at this, stated Bogdanovic of Repower. Worldwide power consumption is expected to double by 2050 from the 1990 level, while carbon emissions need to be halved, so a smart grid has become a necessity, according to Florin Anghel, vice-president of Schneider Electric Romania, the energy management firm. “In Romania, up to now, we have done substation automation, secondary distribution systems and the connection of renewable projects to the national system,” said Anghel. The smart grid system facilitates an easier integration of renewable sources, keeping power consumption efficient and allowing electrical mobility, according to Emil Constantinescu, project manager at Enel Romania. The Italian utility operates tens of millions of smart meters, designed to increase the quality of service to customers, while reducing operational expenses.Constantinescu said that 80 percent of the power meters in Europe should turn smart by 2020, according to an EU directive.
Romania currently has 44,000 smart meters for 9 million power consumers, according to Calin Vilt, an independent expert and member of the smart grids coordination committee set up by the Ministry of Economy. He added that the main issue Romania has to face is an increase in power consumption, but specialists have already come up with solutions. “The output from wind farms in Dobrogea could be used in irrigation systems, for consumption at nighttime,” said Vilt. He suggested the acquisition of electrical appliances needs to be stimulated in households as another measure to increase consumption. Smart grids allow software consumers to use electricity in a more efficient manner, during a period when the prices are expected to rise. Romania should have 7.7 million smart meters by 2020, covering electricity, centralized heating, gas, water, waste and other utilities, according to the smart metering roadmap. Vilt said the ANRE had carried out a cost-benefit analysis of smart meters and concluded the technology is economically wise.
Dobrogea needs cautious approach Most of the wind farms in Romania are concentrated in the Dobrogea region, south-east Romania, where the winds are strong. This year the Czech utility CEZ will complete the Fan-
tanele-Cogealac wind farm, which is the largest in Europe. The 600 MW farm is located some 17 km off the Black Sea coast. However, the difference between the investment speed of the power generation sector and the grid development is visible in Dobrogea, according to Binig at Deloitte. “We have thousands of MW concentrated in an area that is practically a peninsula, an area where excessive power needs to be exported to the rest of the country, through a few lines that have a limited thermal capacity,” said Binig. “These projects are moving forward, and the grid operator can't cope with the speed of setting up new lines to evacuate the power.” Binig said that investors that are now connecting projects in Dobrogea receive a connection agreement warning them that fewer capacities may go online. Under certain conditions, it can be reduced to zero. Furthermore, investors will have to contribute financing to strengthening the grid and in future power lines, which are not in the area. “Investors want to know what they have to pay and when. Transelectrica says that it hasn’t completed the feasibility studies for the respective lines,” said Binig. Romania had 1,300 MW of incentivized wind capacities by August, according to Transelectrica. ovidiu.posirca@business-review.ro
www.business-review.ro Business Review | October 22 - 28, 2012
12 CITY
Trick or treating in the land of Dracula Halloween fever has been taking over Romania for a few years now, although it is still considered an event mostly for young people and expats. BR surveys the providers of the best costumes and throwers of the fanciest Halloween party in the country.
Courtesy of Party Factory
Creepy clothing: Halloween costumes
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Jack,” who invited the Devil to have a drink with him. True to his name, Stingy Jack didn’t want to pay for his drink, so he convinced Satan to turn himself into a coin that Jack could use to buy their drinks. Once the Devil did so, Jack decided to keep the money and put it in his pocket next to a silver cross, which prevented the Devil from changing back into his original form. Jack eventually freed Satan, under the condition that he would not bother him for one year and that, should Jack die, the Devil would not claim his soul. The next year, Jack again tricked Satan into climbing into a tree to pick a piece of fruit. While he was up in the tree, Jack carved a sign of the cross into the tree’s bark so that the Devil could not come down until he promised Jack not to bother him for ten more years. To mark this Irish myth, children aged from 8-12 are invited to Antipa Museum over October 26-27 to design their own Halloween decorations. Quilling and decoupage workshops will help improve their do-it-yourself abilities.
aybe Romanians don’t celebrate Halloween with colorful festivities like the United Kingdom, Mexico or America, but we do have one special ingredient that Halloween party in appears in Halloween parties all over Dracula’s homeland the world and it is authentically Ro- The Transylvanian Society of Dracula manian: Dracula. According to Cristina (TSD) is organizing for the 21st year a Lungoci, event manager at the Party “Classic Dracula” Society Tour, which Factory company, last year the Dracula starts on October 27 and finishes on costume was the number one choice November 3, in the city of Sighisoara. among trick-or-treaters. After this For those in search of adventure, TSD “most-rented” costume for both gen- promises that the Count will be meetders, women dressed as witches or ing everyone on October 31 to intronurses. The Star Wars Darth Vader duce his New Countess. The tour character was popular in 2011, as were comprises sightseeing in Bucharest, a sexy dresses, said Virginia Petrescu visit to Peles Museum in Sinaia, then of Fabrica de Magie. discovering the buffer-zone prior to For kids, last year’s bestsellers Count Dracula’s domain (Bistrita were the ghost groom costume (RON County), following in Jonathan 143) for boys, and purple witch cos- Harker’s footsteps – as the only tume (RON 195) for girls, said Alexan- known way to the castle, Sighisoara, dru Stefanut, logistics manager of the birthplace of Prince Vlad Dracula, Jokeshop. Children also went for the and last stop, Arefu village, near vampire girl costume (RON 103), Bat- Curtea de Arges, a small community man (RON 184) and Spiderman (RON that used to serve Prince Dracula. 184), added Petrescu. The tour costs EUR 895 and But Halloween isn’t all about the includes transport, accommodation, costumes. One of the best known meals, a Halloween party and symbols of this event is the pumpkin, museum fees. more precisely pumpkin carving. For Halloween Bucharest parties, People have been making jack please check out www.business-reo’lanterns at Halloween for centuries. view.ro/calendar. The practice originated from an Irish myth about a man nicknamed “Stingy oana.vasiliu@business-review.ro
www.business-review.ro Business Review | October 22 - 28, 2012
CITY 13
FILM REVIEW
The Best Exotic Marigold Hotel
Magnificent seven: the best of British veterans add a touch of class to the film
DEBBIE STOWE Director: John Madden Starring: Judi Dench, Bill Nighy, Penelope Wilton, Maggie Smith, Tom Wilkinson, Ronald Pickup, Celia Imrie, Dev Patel On at: Cinema Union It sucks, getting old. Hairs sprout out of your ears, it’s a struggle just to stand up and technology is unfathomable. But no matter your age, if you have retained an appetite for life, you can still savor the pleasures that living affords. Such is the lesson awaiting seven elderly Brits – a high court judge with a secret (Tom Wilkinson), an impoverished widow (Judi Dench), a ghastly social climber and her longsuffering husband (Penelope Wilton and Bill Nighy), a racist Cockney (Maggie Smith), a well-heeled man eater (Celia Imrie) and an incorrigible roué (Ronald Pickup) – who pack their bags for a new life in India. Our graying crew pitches up in Jaipur to find that the promised luxury of their accommodation has been rather over-fabled, a la Carry On Abroad. But the hapless manager (an overacting Dev Patel) persuades them all to stay on, and our seven sexa- and septuagenarians set about adjusting to the subcontinent. The group divides neatly into the sympathetic (are friendly to Indians, try the food, visit temples) and the unsympathetic (are rude to Indians, insist on British food, sulk back at the hotel). The characters’ adventures are played variously for
tears (the judge’s search for someone from his past), laughs (the sexploits of the two amorous singletons) and warmth (the hard-up widow’s entry into the local workforce). Meanwhile a subplot involving the manager’s modern girlfriend and traditional overbearing mother develops predictably. The Best Exotic Marigold Hotel is as sweet and gloopy as mango chutney and the various arcs are obvious from about ten minutes in. Some of the characters are one-dimensional, and the film is guilty of presenting a rather patronizing, stereotypical image of India and its people. But a stellar cast and very funny script full of laugh-out-loud lines turn what could have been a trite little film into a pleasure. Wilkinson’s troubled judge and Smith’s sardonic bigot are probably the highlights, but all the veteran actors deliver enjoyable turns. You don’t have to be in your dotage to sympathize with the protagonists’ frustrations with the modern world (estate agents and call centers are among the admittedly easy targets): “Is wireless the same as Wi-Fi, and what do either of these have to do with broadband?” Dench’s baffled widow asks an unhelpful operator. The regrets, wistful nostalgia, defeats, losses, looming mortality, loneliness and hopes of old age await us all, and it’s refreshing to see a film where the elderly are the focus. Like the eponymous establishment, The Best Exotic Marigold Hotel has a raft of flaws, but its heart is bang in the right place.
www.business-review.ro Business Review | October 22 - 28, 2012
14 CITY
CULTURAL EVENTS CALENDAR PERFORMANCE Masquerade Ball at the Opera October 26, 18.00 Bucharest National Opera An exclusive, elegant and amusing fundraising event is taking place at Bucharest National Opera in the form of a masquerade ball, held in the foyers. In the first part of the evening, guests will attend the performance of Un Ballo in Maschera by Giuseppe Verdi. The masquerade ball itself will start at 21:00, and will include champagne toast, dinner, costume parade, raffle, dancing and live classical music, both vocal and instrumental, in the background. Participants’ period costumes can be inspired by any historical era. Bucharest Early Music Festival October 24-28 Romania Radio Corporation, Cotroceni Museum, Anglican Church The event, which is organized under the patronage of Phillippe Beke, the Belgium ambassador to Bucharest, aims to expand its audience from a high-brow, baroque music public to a wider demographic. On its seventh run this year, the festival will immerse attendees into European baroque music, through concerts by Hopkinson Smith, Menno van Delft, the Il Gardellino ensemble, and Ketil Haugsand.
FILMS Les Filmes de Cannes a Bucharest Until October 25 Cinema Studio, Elvira Popescu Cinema Les Films de Cannes a Bucharest features 15 films from the famous French festival, including eight prize-winning movies from Cannes 2012. Seven Days in Havana, seven short films by seven different directors set in the Cuban capital, will open the festival on October 19 and Cristian Mungiu’s Beyond the
ISSN No. 1453 - 729X
WHO’S NEWS BR welcomes information for Who’s News. Submissions may be edited for length and clarity. Get in touch at simona.bazavan@business-review.ro
Claudiu Saftoiu
Hills will close the third edition of this event. Premiers Hotel Transylvania Opens October 19
has had his position of president and general director of the public television service (SRTV) approved by Parliament. He had served as presidential adviser since 2004, from the first term of Traian Basescu, until 2006 when he was appointed director of the Foreign Intelligence Service. Saftoiu was proposed as member in the administration board of the national television service by the PNL.
Romeo Cazanescu
Dracula (Adam Sandler) is giving a warm welcome to the Hotel Transylvania, a lavish five-stake resort, where monsters and their families can live it up, without humans to bother them. On one special weekend, Dracula has invited some of the world's most famous monsters such as Frankenstein and his bride, the Mummy, the Invisible Man, a family of werewolves and a few others, to celebrate his daughter Mavis's 118th anniversary. Director: Genndy Tartakovsky Starring: Adam Sandler, Kevin James, Andy Samberg On at: Movieplex Cinema Plaza, Grand Cinema Digiplex, Grand VIP Studios, Hollywood Multiplex, The Light Cinema, Cinema City Cotroceni, Cinema City Cotroceni VIP, Cinema City Sun Plaza, Glendale Studio, Patria.
FOUNDING EDITOR Bill Avery EDITOR-IN-CHIEF Simona Fodor SENIOR JOURNALIST Otilia Haraga JOURNALISTS Simona Bazavan, Ovidiu Posirca, Oana Vasiliu COPY EDITOR Debbie Stowe COLLABORATORS Anda Sebesi ART DIRECTOR Alexandru Oriean PHOTO EDITOR: Mihai Constantineanu PHOTOGRAPHER Laurentiu Obae LAYOUT Beatrice Gheorghiu
is the new country manager of Herbalife Romania and Bulgaria. He is replacing Edyta Kurek, VP for Central and Eastern Europe & the Middle East. Over the past 18 years Cazanescu has amassed extensive professional experience in sales, marketing, strategy, business development and joint venture management. He has worked in various industries for companies such as Nestle Romania, Cosmos Trading and First Romanian Distribution. Over the past few years he has
CLASSIFIEDS BR is hiring a Sales Account Manager Business Review is looking for an Account Manager in charge of advertising sales and events sponsorships
served as GM of Conarg Real Estate.
Odette Costoiu has been appointed sales director at Howard Johnson Grand Plaza Bucharest. She has seven years of professional experience in the hospitality industry, mainly in sales and marketing. Costoiu has previously worked for JW Marriott (2005-2007), Athenee Palace Hilton (2007-2008), Radisson Blu (2008-2012) and Angelo Airport Hotel (2012). She has a bachelor’s degree in international economic relations from Spiru Haret University.
Alina Ghita has joined the GAV advertising agency as group account director. She has more than eight years of professional experience in advertising and communication. Ghita has previously worked for Graffiti BBDO and Odyssey where she was responsible for accounts such as Romtelecom, Danone Romania and Wrigley Balkan East. - Meets targets and deadlines; - Knows all the characteristics of Business Review products and competitors ones and makes educated recommendations to clients. Desired Skills & Experience - University Degree; - Previous experience in selling advertising and/or a good knowledge of the Media market; - Customer and results oriented, negotiation skills, ability to complete all administrative tasks; - Excellent command of English
Job Description Represents Business Review in its relations with its clients; - Manages and increases the portfolio of clients both on print advertising as well as event sponsorships; - Is able to take the role of Project Manager for some special advertising projects such as guides, supplements, inserts;
Please send your CV to Ana Maria Nedelcu: anamaria.nedelcu@businessreview.ro
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