Romania Open to Direct Foreign Investment: A...
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Romania Open to Direct Foreign Investment: A liberal new law allows full foreign ownership, capital protection, repatriation of profits and tax breaks to boost the transition to a market economy. The government has also slashed the red tape that held up foreign investments in the past. Investors will apply to a new body, the Romanian Development Agency, to register investment projects. If they get no reply within 30 days, the application will be considered as approved and they may proceed. The Foreign Investment Law will take effect later this month.
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