Romania recorded an 86% increase in the number of Foreign Direct Investment projects

Romania recorded an 86% increase in the number of Foreign Direct Investment (FDI) projects in 2022, making it the fifteenth most attractive European investment destination, up seven places from the previous year.

Thus, FDI totaled EUR 10 billion in 2022, 12% higher than the prior year’s record of EUR 8.9 billion, according to the 2023 edition of the annual report EY Romania Attractiveness Survey.

FDI projects were highly concentrated in 2022, with five cities accounting for 71% of all projects. Bucharest (35%) remained the preferred location for investors, followed by Iasi (13%), Cluj (12%), Timisoara (7%).

Investment in four of these cities was also highly concentrated in one sector; software and IT services: 63% in Cluj, 60% in Timisoara, 48% in Bucharest and 33% in Iasi.

In 2022, Germany ranked first among the countries investing into Romania, both in terms of the number of projects and number of jobs created. The top-3 in terms of the number of projects was rounded-up by the US and Switzerland.

Romania still lagged Poland and Serbia among the CEE markets. But despite this, investors are increasingly confident about the outlook, with 63% of those surveyed saying they plan to invest in Romania during 2023.

SEE ALSO: Portuguese EAD, provider of archives digitalization solutions, enters the Romanian market

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