Austria is the largest foreign investor in Romania with a 10 billion Euro capital investment. Approximately 30% of all foreign investments in Romania originate in Austria. The Austrian economy represents about 4200 firms and some of the largest ones are already present in Romania: OMV, Bank Austria Creditanstalt, Raiffeisen Bank, Erste Bank, Siemens, Strabag etc.
Erste Bank won the race for the privatization of the Banca Comerciala Romana – Romania’s largest commercial bank – paying a hefty 3.75 billion euro for it - the largest foreign transaction in Romania. Currently, the bank has over 330 branches and 12,000 employees, over 4.5 millions customers and a turnover of 7.5 billion euro. Erste – Banca Comerciala Romana commands a respectful 27% and tops a rather crowded Romanian banking market.
In December 2004 OMV transferred around 1.5 billion euro in the Romanian state’s coffers and bought 51% of the Romania’s largest oil company Petrom (a vertically integrated company with oil and natural gas upstream and refining operations, petrochemical facilities and the largest gas distribution network in the country).
Alongside Erste Bank and OMV, one could also mention Raiffeisen, BA-CA, Volksbank, Wiener Städtische, Grazer Wechselseitige, die Kaindl-Gruppe, Holzindustrie Schweighofer, Immorent, Immoeast, die Brau Union, Agrana, Baumit, Austrotherm, Wienerberger, Lasselsberger, Bramac, etc.
Swietelsky heavyweights of the Austrian economy have a significant input into the Romanian economy.
Almost 4,000 companies with Austrian capital are already registered in Romania. Furthermore, Austrian exports into Romania grew by 31% 2006 reaching 1.885 billion euro in 2006. On the other hand, Austria imported Romanian goods worth 792 millions euro, a dynamic but rather unbalanced bilateral trade. |