Renault, which owns Romanian car producer Dacia, plans to invest EUR500m in a design and development centre in southern Romania, the government said on Wednesday.
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According to Reuters, the Black Sea state slated for European Union entry next year is becoming increasingly attractive for car makers, lured by cheap labour, cut-rate taxes, institutional stability provided by EU membership and prospects for fast productivity growth.
The notoriously bureaucratic country plans to set up a network of government officials to help Renault finds its way through a web of red tape, the news agency said.
“The government decided to create a work group to collaborate with Renault to ensure it receives support from local and central authorities for a large-scale project,” government spokeswoman Oana Marinescu reportedly told a news briefing.
According to the news agency, the government said Renault would invest over EUR450m ($US574m) between 2007 and 2015 in the facility.
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By GlobalData“It will give an important boost to the Romanian economy,” Marinescu reportedly said, adding the centre would employ 3,000 people.
