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Nov 24, 2017 16:29 EEST
November 24 (SeeNews) - Romania should continue to reform and simplify its legislation in order to help small and medium sized enterprises (SMEs) grow and become more competitive, the European Commission said.
Further reforms should continue, together with consolidation and enforcement of existing ones, with a view to promoting internationalisation, fostering innovation and ICT skills, and boosting SMEs’ confidence in e-commerce transactions, the European Commission said on Thursday in a report reviewing the performance of SMEs in member states.
Romania needs to simplify and modernize its business environment and ensure faster resolution of insolvency proceedings to help its SMEs to grow, the report showed.
Romanian SMEs’ value added increased by 44.6% between 2012 and 2016, while employment grew by 3.9 % from 2012 to 2016.
The forecast shows that in 2016-2018 value-added growth of about 16.5 % is expected in all SME size classes. The outlook for SME employment is somewhat weaker, with projected growth of 2.2% in the same period. Overall, 59 200 new jobs are predicted to be created in SMEs between 2016 and 2018, almost all of them in micro firms and small firms, the report showed.
(1 euro=4.6536 lei)
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