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I I am very pleased to address the the the readers of of Number One right in the the the the the first issue of of of the the the the the periodical
I I welcome
on on on this occasion the the the the enrichment of of the the the the local media landscape with a a a a a a a a a a a a publication that aims to promote
the the performances of Romanian entrepreneurs
I appreciate that this new publication meets the the the the interests of of the the the representatives of of the the the business environment in in in in in in in Romania increasingly involved in in in in in in in the the the the public debate of of topics relevant to to the the evolution
of of the the Romanian economy and society We are are certainly living interesting times and we are are witnessing significant developments in in in in in in the the global economy The speed with which they succeed and sometimes the the the unpredictability that characterizes them make it it it more than ever necessary for concerted action at at the the the institutional level and greater openness for dialogue with citizens from the the the governments parliaments and institutions that represent their interests The profound transformations on on on on the the the international stage such as the the the change change of of global power structures or or the the the the political changes that take place in many countries around the the the the world make their mark on on on on on the the the domestic economic environment Under these conditions Romanian executives must show ambition and determination to succeed in in in in foreign markets
that are increasingly competitive For the the the wise observers of the the the current global economic landscape the the the outlook seems certainly more worrying than in in in in previous years Although we are not close to to recession and and the the global economy continues to expand the the pace of development has slowed lately and and and some major economies especially in Europe and and and Asia have had a a a a a a a a a a a a a a weak growth or or even quasi‐stagnation Even the the US economy – – which has benefited from steady economic growth in in in in the the last decade – – shows signs that it it may be close to a a a a a a a a a a turning point amid increased vulnerabilities caused by trade disputes Repeated warnings from the the International Monetary Fund and the the World Bank should be an an an an important signal for policymakers from all countries to to cooperate in a a a a a a a a a a a constructive manner to to solve trade disagreements and ensure a a a a a a a a a a a level playing field for all global market participants Increasing trade tensions political uncertainty strengthening protectionist or economic unilateralism tendencies tightening financial conditions high levels of of public and private debt environmental degradation resource deficit the prospect of of a a a a a a a a a a “no agreement” Brexit and a a a a a a a a a a slower than expected slowdown in in China represent major risks that that can further destabilize
a a a a a a a a a global economy that that is is already losing speed The complex problems we face today impact both developed countries and and consolidated democracies as as well as as emerging markets
and and developing economies However we we must not forget that globalization has a a a a a a a a a a a substantial potential to bring more prosperity development and stability provided it it it is managed according to to key principles principles These principles principles refer
to to openness transparency dialogue free market and fair competition multilateralism international law peaceful dispute resolution and a a a a a a a a a a a a a a serious commitment to achieving the the sustainable development agenda
for 2030 At the the the same time we must strategically address the the the disadvantages of globalization as as as increased increased interdependence means at at at the the same time increased increased vulnerability and volatility It is undeniable that Romania has benefited from the the the alignment with the the the the tendencies of the the the the economic openness the the the the the the integration among the the the the the the big European families and and the the the the the deepening of of the the the the the degree of of participation in in in the the the the the commercial and and investment flows at at global level In the the the last years the the the Romanian economy has seen remarkable developments proving an increasing resilience to to to external factors This was largely due to to to to to the the contribution of the the most dynamic sectors as as as well as as as to to to foreign investments that have a a a a a a a a a a a major impact on the the the development of the the the branches in which they are carried out Romanian exports have made an an an an important contribution in in in in placing the domestic economy in in in in a a a a a a a a a a a a a favourable position The industrial branches that performed against the the background of investment inflows and intensified integration into the the the international production chains sustained them We can speak of of of such favourable positioning of of of of some branches of of of of the the the the the Romanian industry with the the the the the potential of of of strengthening the the the the the competitiveness indexes and and the the the the the market shares both at European and and global level I am referring to to to the the the performance of sectors such as the the the the automotive and related industries electrical equipment or or the the the the the furniture industry At the the the the the same time the the the the rise of the the the the IT&C sector whose share in in in in in GDP
is is is increasing is is is noticeable with Romania having
the the the potential to to successfully fit into the the the trends of the the the digitalization era Rapid global advances in in in fields such as biotechnology artificial intelligence robotics and remote‐controlled systems also bring many opportunities
including for Romanian entrepreneurs
In the the the context of of of the the the evolution
of of of domestic consumption (which induces the the the the danger of of of deepening Romania’s current account deficit) it it is all the the the more important that the the business environment be supported to expand Number One 3