According to the latest survey conducted by the Foreign Investors Council (FIC), approximately 83% of companies are considering cost reductions, and only 16% plan to increase their teams, marking the lowest expansion intention since the COVID-19 pandemic. In terms of the perception of the business climate, 68% of respondents believe it has deteriorated, but the figure represents a slight improvement, of 4 percentage points, compared to the spring edition of the Business Sentiment Index (BSI).
The BSI results from October 2025 highlight the urgent need for Romania to improve legislative predictability and reduce fiscal pressures —by eliminating measures such as turnover taxation— in order to regain investor confidence.
Investor sentiment remains reserved, with many companies postponing the allocation of new capital resources until clearer signals emerge regarding the economic direction and regulatory stability in Romania.
The main findings are as follows
Investment outlook: Only 25% of companies plan to increase capital investments in the next 12 months – a 10% decrease compared to the spring edition and the lowest level recorded in the last decade. Meanwhile, 49% will maintain current investment levels, while 26% plan to reduce them.
Revenue expectations: Only 46% of respondents expect revenue growth from their Romanian operations in 2026, down from 55% in the previous edition. Although this development indicates a downward trend, it still reflects a relatively positive outlook on the potential of the Romanian market, especially compared to the more reserved expectations in other regional markets.
Market perception: On the domestic market, 40% anticipate growth and 47% expect stagnation. Export expectations are more modest, with only 29% forecasting growth and 62% expecting stagnation.
Competitiveness: Romania is perceived as uncompetitive in several areas: bureaucracy (78%), regulatory burden (78%), transparency and consistency of policy implementation (73%), tax burden (58%) and infrastructure (53%). Availability of adequate workforce is the only area considered competitive (64%).
Cost management and workforce plans: 83% of companies are considering cost reductions. Only 16% plan to increase their teams, marking the lowest expansion intention since the COVID-19 pandemic.
Business climate perception: 68% of respondents believe that the business environment has deteriorated, a slight improvement of 4 percentage points compared to the spring edition.
Regulatory predictability: 69% of FIC members consider the regulatory environment to be less predictable. However, 9% now consider it to be more predictable – a modest but positive change compared to the last four editions.
Challenges: Regulatory uncertainty (76%), inflation and interest rates (70%) and taxation (65%) remain the most pressing concerns. Political instability is also cited by 58% of respondents as a major obstacle to business and investment planning.
Impact of tax measures: Recent tax packages have increased taxation, added complexity to compliance and introduced frequent legislative changes. These have increased operational costs, reduced profitability and demand, forcing companies to prioritize liquidity and postpone long-term growth projects.
Advantages: Despite the challenges, companies identify growth potential in exports and market expansion, development and transition of the energy, agriculture and defense sectors. At the same time, operational efficiency and customer-oriented services — including cost reduction, restructuring processes and innovative solutions — are among the main advantages mentioned. They reflect a clear orientation towards resilience and adaptability through innovation.
FIC reaffirms its commitment to a long-term strategic approach in attracting and retaining foreign investment, underlining the importance of policy consistency, fiscal stability and workforce competitiveness as essential pillars of sustainable economic growth.
