1. Dynamic Regional Economy
The industrial sector of the region covers nearly all branches: information and communication technology, machine building, electronic parts, wood processing, mining industry, chemical industry, medicine production, textiles, food industry, ceramics and glassware, etc. With 50,048 industrial, construction and service operational companies (9.3% of all companies in Romania), West Region has a density of 26.04 enterprises for each 1000 inhabitants, above the national average (24.82 enterprises for each 1000 inhabitants). Therefore to foreign investors, West Region is a promising investment location, where the substantial opportunities of an emerging market can be turned into a good account in a modern and continuously expanding business environment.
West Region is considered to be a growing region, with macroeconomic results above the national average. The GDP/inhabitant ratio has been above the national average each year, usually second only after the Bucharest-Ilfov Region. The GDP of West Region is 50.5% of the EU average.
West Region attained a total turnover of 65 975 mil lei in 2009, a significant percentage being held by the SMEs with a turnover of over 29 359 mil lei (approx 6827 mil Euro), indicating a strong entrepreneurial spirit capable of capitalizing the opportunities offered by the foreign investments in the region.
Another significant part in the structural transformation of West Region was played by the foreign investors that encountered, on this emerging market, mentalities and attitudes similar to those on the more mature Western European markets.
Business Locations Opportunities in West Region
Investments in the business infrastructure in West Region have materialised in the establishment and development of diverse industrial zones and parks. On the other hand, the land offer of the public administration brings in wide opportunities for greenfield projects. Nevertheless, big investments in office buildings were made (e.g. City Business Centre, Fructus Plaza Timişoara), which are targeting the services/BPO sector in Timişoara and Arad. Logistics is an actual successful domain in terms of investments. In the last two years for example, 6 logistics zones were built around Timişoara and all of them are privately- owned facilities.
Innovation & Clustering
The Regional Innovation Strategy 2009-2013 is the strategic document elaborated in close connection with the Regional Development Plan of West Region. Essentially, the Regional Innovation Strategy is the document that aims to involve all the RTDI resources available in order to increase the competitiveness of West Region. Moreover, in order to achieve these specific aims, a special attention was paid to the following 3 strategic axes in the new West Region RIS document:
1. Supporting the innovation infrastructure, which generates added value in terms of RDI products/solutions/technologies
2. Supporting innovation in enterprises, also relying on their internationalization
3. Promoting the innovation culture at regional level
The following entities are a direct result of the RIS measures implemented in West Region Romania:
Automotivest Association - Cluster initiative
in the automotive sector
Tehimpuls - Regional Centre for Innovation
and Technological Transfer
Regional Cluster for Information and Comunication Tehnology - West Region Romania
17/10/2018 / “Open4Business” Matchmaking Event, 4-6 October 2017, Pécs, Hungary
03/08/2017 / “Match4Industry Business Matching Event”, 6th ed., Matchmaking Event, 2-3 November 2017, Kocaeli, Turkey
31/07/2017 / “EU-China Business & Technology Cooperation Fair”, Conference and Matchmaking Event, October 24th - 31st 2017, Beijing, China
11/07/2017 / “Business Internationalization Forum”, Conference and Matchmaking Event, November 3rd 2017, East Sarajevo, Bosnia and Herzegovina
With clients as Bosch, Yazaki, and Siemens, Soplast is a plastic injection company delivering as second tier supplier in automotive industry. RDA West organized their first visit to Region West in...