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1 Timişoara, Romania, Str. Agricultorilor nr. 40 Tel: Fax: Pagina1

2 Pagina2 INVEST IN ROMANIA Timişoara, Romania, Str. Agricultorilor nr. 40 Tel: Fax:

3 Pagina3 AGRICULTURA IN ROMANIA Romania is a country with a huge agricultural potential from wich more than 50% is untapped. Among the EU countries, Romania has 15 million ha of agricultural land, of which 9.3 million ha arable, 0.6 million hectares vineyards and orchards, over 4.8 million ha of natural grasslands, most the areas with high fertility. From the early 20th century and until 1989 Romania was considered "the breadbasket of Europe" because of major agricultural production, it is always in the top cereal production in Europe. Romania is the second largest agricultural producer in Central and Eastern Europe after Poland. We have a rural population of 10 million inhabitants, of whom 3.3 million are active farmers, which places us in the second place in Europe. EU standards require that the workforce in the agricultural sector to be less than 5%. New agricultural active population is six times higher than the European average, while the share of agriculture in GDP is about 11 times higher in Romania than in the EU. Significant surplus of labor, with chronic lack of capital represents some of the main problems facing Romanian agriculture in transition. Net exporter of agricultural products in international markets before 1990, Romania became a Timişoara, Romania, Str. Agricultorilor nr. 40 Tel: Fax:

4 Pagina4 net importer today. The deficit is 4.6 billion dollars over the past 12 years. The decline occurred as a result of declining agricultural production and rising domestic demand for food variety and quality. The study shows that over the medium term Romania will remain in the same situation. It is possible that 80-85% of the domestic market to be covered by imports of vegetables, fruits,dairy, beef, chicken and sugar. After 1990, for example, the entire area was in collective ownership (PAC or IAS) since 1991 (under Law 18) many owners have regained their old land, getting back 9.34 million ha of arable land, but not more than 10 hectares per family. They formed 3.9 million small agricultural properties. This led to fragmentation of agricultural properties by drastically reducing the number of large agricultural areas. Due to lack of capital, peasants could not make new investments to modernize farming in intensive agriculture and thus practiced subsistence agriculture, more than 50% of production is for own use. Small properties hold approximately 66.5% of the country's agricultural area. They haven t got the ability to make investments necessary to use irrigation and fertilization of soil systems and apply modern technologies. By following this trend, agriculture could not have productivity gains and exit from a state of subsistence to market relations. Optimal concentration of land will be done soon, by selling small properties, and by association. This will occur because the current legislation in Romania permits it to happen. Today large areas are merged and companies own and cultivate up to 50,000 hectares. The private sector is the main owner of agricultural land, taking into operation on thousand hectares of arable land out of thousand hectares, 210,200 hectares of vineyards in total ha, 174, fruit-growing 6000 ha of the total 254,900 hectares and thousand hectares of pastures and meadows of the total ha. Private agricultural holdings are organized as follows: holdings with an area of million hectares, with an average of ha and million households, with an area of 10,311,000 hectares, with an average of 2, 47 ha each. An important advantage that investors have in Romania is the low price of agricultural land, which costs between 2000 and 4000Euro / ha depending on location. Of course besides the attractive land prices, wages in Romania are often lower than in western Europe. Minimum wage for a laborer in Romania is 600 Lei aprox.150 Euro plus 40% taxes since the employer pays their salary to the state budget. Total expenditure of the investor with an employee in agriculture should not exceed 210 euros per employee including all taxes. Although the price of agricultural land is low, fertility is high, it is well known that Romania has some of the most fertile land for agriculture in Europe due to a large hydrographic river system and extended irrigation that feeds much of the country's agricultural area. To buy land in Romania, foreigners need to set up a company with legal personality with which to transact. The costs of setting up a limited liability company [limited liability] are around 500 euros all taxes included. Utility costs in Romania are among the lowest in Europe, here we mention the energy price is 9 cents / kwh, oil price is 1 Euro per liter, the price of gas is about 1 cent / kwh and wood cost for heating farm / greenhouse is 8 euro / ton. Romania has a temperate continental climate transition specific to central Europe, with four distinct seasons, spring, summer, autumn and winter. The average annual temperature in the Timişoara, Romania, Str. Agricultorilor nr. 40 Tel: Fax:

5 Pagina5 plains is degrees Celsius, with rainfall between mm / year. Romania is located in Area B of the European sunlight with a solar radiation of 1322 kwh/m2/an. These climatic characteristics together with the national irrigation system which covers 3 million hectares recommend Romania as a perfect destination for intensive agriculture. In Romania, taxes are low and there is one profit tax, flat tax of 16% to be paid regardless of size and turnover, VAT [VAT] is 19%. There is an option for micro companies, with up to nine employees and annual income below 2000,000 to pay income tax of 3%. All benefits listed above mean one thing for investors: greater profits and better return on investment. No wonder Romania is considered one of the most attractive destinations for investors in Europe. In 2010, Romania is forecasted to have an economic growth of 2% while most European countries will be in recession. Romania's GDP in 2009 is 272 billion $ and GDP per capita $ 12,200 while the European average is somewhere in the $ 33,000 per capita. According to estimates, Romania, with its high economic growth rate will overrun countries like Italy in terms of GDP per capita by This can be achieved by developing the full capacity of agriculture and the productive sectors. For a farmer who wants to establish a farm / nursery or plantation in the European Union, Romania is the best destination and Armand Consulting Ltd will be your best partner on the road to success. Since 2007, Romania is a member of the European Union and will be granted over 32 billion Euros by 2013 in the form of funds and assistance. For agriculture were allocated more than 8 billion Euros trough the National Rural Development Programme to finance the establishment and modernization of agricultural and livestock farms and processing units of agricultural products and livestock, agricultural machinery and equipment acquisition, establishment of agricultural crops, forests and vineyards, creating micro-companies in rural areas, establishment of hostels, recreation and tourism base. The grant begins at 50% and can reach up to 75% of the total eligible project. Armand Consulting LLC comes to you through professional project management services, consulting and design created especially for foreign investors that don t have the time and the legal and technical knowledge to achieve an investment project for obtaining EU funds in Romania. With best regards, Armand Doru Domuţa Director Tel: Timişoara, Romania, Str. Agricultorilor nr. 40 Tel: Fax:

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