The American Chamber of Commerce in Romania (AmCham Romania) calls for the timely completion of the National Recovery and Resilience Plan (PNRR) and the continuation of reforms to take precedence over the responsible exercise of any political and governmental mandate, in the legitimate interest of the entire society.

“Our business community firmly demands that the timely completion of the PNRR, the continuation of reforms, the correction of twin deficits and strategic economic development take precedence over the responsible exercise of any political and governmental mandate, in the legitimate interest of the entire society,” reads a statement from AmCham Romania.

According to the organization, financial markets and economic partners evaluate results, not intentions, and from the perspective of the business environment, Romania is going through a decisive moment for its credibility.

The American Chamber of Commerce reminds that there are only a few days left until the deadline for meeting the milestones and targets assumed through the PNRR and for accessing the last tranche of financing, essential for fiscal-budgetary sustainability.

“Rating agencies continue to assess the Romanian economy. Just one year after reconfirming the “investment-grade” rating, based on a trajectory of fiscal consolidation and deficit reduction, the danger of downgrading returns. At the same time, the process of accession to the OECD enters its final stage. All of these have in common a careful and rigorous analysis of Romania from the point of view of macroeconomic fundamentals, influenced by the level of predictability, credibility and the capacity to deliver the undertaken reforms”, claims the cited source.

The business environment representatives also emphasize that the business environment and the population have already borne the costs of urgent fiscal-budgetary recovery measures, with the legitimate expectation that decision-makers will adopt and implement the programmed structural reforms and complete the assumed investment projects. In this context, AmCham believes that failure to comply with the assumed commitments discredits Romania, with immediate negative effects, but also in the long term.

“A cross-party mobilization is needed for Romania to remain on a sustainable economic trajectory, by making maximum use of the non-reimbursable financing from the PNRR, by maintaining the country rating and by consolidating the advantages for attracting investments. It is necessary for the interest for the common good and for the good of Romania to lead the agenda of the entire political, decision-making spectrum and administratively, for the implementation of reforms and the completion of assumed projects”, the press release emphasizes.

Amidst the prolonged domestic uncertainty and unclear direction, investors are increasingly cautious in launching new projects, and companies’ efforts to maintain operations and jobs are becoming greater, claims AmCham Romania.

With over 30 years of presence in Romania, AmCham currently brings together over 600 American, international and Romanian companies with cumulative investments of over 30 billion US dollars in Romania.

AmCham member companies together provide over 250,000 jobs and generate a cumulative turnover of over 65 billion euros.

AmCham Romania members operate in 32 economic sectors. AmCham Romania is an accredited member of the US Chamber of Commerce and is part of the European network of American Chambers of Commerce.