With Eastern Europe’s largest Chinese trading area and an energy project being developed in collaboration with the U.S., solid international partnerships are transforming the way Romania does business
One of Romania’s grand interests lies in its foreign business relations, such as those forged by its homegrown Niro Investment Group. The company’s international relationships have promoted Romanian business abroad and enabled the enterprise to grow to its current position of employing more than 1,000 people and having over 5,000 shops. The Romanian holding group, whose various investments now exceed €300 million ($430 million), has spent a significant amount of time building relations with China.
|ROMANIA’S FIRST CHINATOWN, 10 MILES FROM THE CAPITAL WILL COMBINE WITH THE RED DRAGON TRADING COMPLEX IN COLENTINA TO BECOME EUROPE’S MAIN HUB FOR THE SALE OF CHINESE PRODUCTS|
THE U.S. AND ROMANIA ARE DEVELOPING THE BIOMASS PROJECT IN THE HOPE OF IMPROVING SEWAGE CONTROL AND FARM MANAGEMENT PRACTICES WHILE LOWERING GREENHOUSE GASES FOR ENVIRONMENTAL GAIN
In Bucharest, the group has developed the Red Dragon (Dragonul Rosu) trading area, which holds the China Business Center and the China Towers residential area. The entire development is part of the new Chinatown Romania project in Bucharest, which was partially inspired by the Chinatowns in Los Angeles and New York. Nicolae Dumitru, president of Niro Investment Group, views the project as one of the investment group’s most important business endeavors, despite their dealings being spread across a wide range sectors.
“The saying is that you never forget your first love, and in terms of business, the first that I undertook was through our relationship with the Chinese businessmen,” says Mr. Dumitru. “Aside from being the most important business partner over these past 18 years, we have also developed important friendship connections with the Chinese community in Romania and the Embassy of the People’s Republic of China, along with many other institutions of the Chinese state.”
With this immense project under way, the investment potential and partnership with Chinatown is now clearly open, with business and political relations between the two countries seeing a great improvement.
“For us the most important relationships are those with the Chinese people and community here in Romania because we have accomplished not only a business relationship, but also one of friendship and trust,” says Mr. Dumitru.
Another relationship being cultivated is that between Romania and the U.S. The two nations are developing the Biomass Project, which the U.S. has identified as an important initiative that is both good for the economy and the environment. The scheme is being developed with hopes of improving sewage control and farm management practices while lowering greenhouse gases for environmental improvement.
Romania is in full support of agricultural development and the U.S. Department of Energy estimates that this project in Romania could create approximately 869 direct and indirect jobs in fields such as transportation, maintenance, construction, agriculture, husbandry, management, logistics and engineering.
Overall, this agri-energy project will help Romania’s economic development, environmental stewardship, and social development.