Sunday, July 22, 2007

Car firm 'enters Romania'

Ready2invest.co.uk

A second major carmaker is set to enter the Romanian market, after Ford acquired new property there, according to reports.

It is to take on the Daewoo plant in Craiova, thus making the area an automotive centre, reports zf.ro.

Now, it is believed that the development will lead to the greater economic transformation of the area, something that may be of interest to potential property investors in the country.

Ford's investment should have a knock-on effect and make Romania seem an attractive proposition, stated the national Agency for Foreign Investments.

However, the organisation did not specifically outline the amount of investments that it was predicting in the coming months.

Such a move by Ford follows similar investment from Renault in the country, the publication said. Unemployment rates have decreased in Mioveni since the arrival of the firm, the paper added.

In related news, Acvatot construction recently stated that it is to make further investments in Romania.

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