Nicolae CIUCĂ, President of the Romanian Senate, joins the “The big industry – Important contributor to Romania’S GDP” debate, on October 31

admin Posted On October 30, 2023

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Financial Intelligence, in partnership with ABIEC – Association of Large Industrial Energy Consumers from Romania, organizes the Debate “Big INDUSTRY – IMPORTANT CONTRIBUTOR TO ROMANIA’S GDP”, on October 31, 2023, from 10:30 a.m.

On this occasion, Vasile IUGA, Partner, Valorem Business Advisers, will present the Valorem Study “Impact of industry in the national economy”. The energy crisis generated significant challenges for the large industry in Romania, which was already affected by the blockages that occurred during the COVID crisis. In this context, some companies had to temporarily close or significantly reduce the activity of some production units, which led to an increase in imports and a deepening of trade deficits.

The large industry is among the main investors and contributors to Romania’s GDP, employing over 10% of the total number of employees in Romania and being among the main tax payers both at the national and local level. Downsizing of large industry could lead to: • Disappearance of key suppliers for essential sectors of the economy; • The appearance of strategic vulnerabilities in the economy; • Loss of strategic development opportunities in the industries of the future.

Participation to the events has been confirmed by: Nicolae CIUCĂ, President, Senate of Romania; Florin-Marian SPĂTARU, Councilor of State, Chancellery of the Prime Minister; Dan DRĂGAN, Secretary of State, Ministry of Energy; Tudor CONSTANTINESCU, Principal Advisor to the Director General for Energy, European Commission; Teodora PREOTEASA, Secretary of State, Ministry of Investments and European Projects; Lucian RUSU, Deputy General Secretary of the Government of Romania; Virgil POPESCU, President, Commission for Environment and Ecological Balance, Chamber of Deputies; Daniel ZAMFIR, President, Economic Commission, Industries and Services, Romanian Senate; Bende SANDOR, President, Commission for Industries and Services, Chamber of Deputies; Lorant ANTAL, President, Commission for Energy, Energy Infrastructure and Mineral Resources, Romanian Senate; Cristina PRUNĂ, Vice President, Industry and Services Commission, Chamber of Deputies; Radu Mihai POPA, Member of the Commission for Industries and Services, Chamber of Deputies; Lucian Ioan RUS, State Secretary, Ministry of Economy, Entrepreneurship and Tourism; Bogdan CHIRIȚOIU, President, Competition Council; Mircea MAN, Vice President, National Energy Regulatory Authority (ANRE); Marian NĂSTASE, President, Association of Large Industrial Energy Consumers (ABIEC); Frederic AUBET, Director General, ROMCIM; Ajay AGGARWAL, President, LIBERTY Steel Group Europe, and Chairman of the Board, LIBERTY Galati and Josh ZACHARIAS, CEO, Azomureș.