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Corruption a major problem for British investors in Romania

The main problems faced by British investors in Romania are the lack of long term strategies of local partners, infrastructure and corruption which affects current activities like medical services, said the head of the British Romanian Chamber of Commerce.Raymond Breden, the new chairman of the British Romanian Chamber of Commerce, said he had received complaints from BRCC members about corruption cases in Romania and that corruption level had not changed lately, according to Mediafax.

On the other hand he said the nature of corruption cases had suffered some changes. While until the end of 2006 bribery was requested to introduce some products in the country, after 2007 corruption cases are most often met with public purchase procedures. He classified corruption into two categories, the former concerning public investment projects which involve big amounts of money and the latter about routine actions such a visiting a physician.

He showed that this year the Ministry of Justice has initiated measures to stop corruption.
Among advantages Romania has for British investors, the chairman of BRCC named low costs of labour force, the market size and potential and the entrepreneurial spirit.He added he had a meeting with representatives of the Finance Ministry on Monday in which representatives of AmCham Romania and of the Foreign Investors Council participated to send the authorities a set of suggestions about the Fiscal Code. According to the source, the requests did not have in view tax reduction but clarifications of the present law and more stability.