Abstract
The main aim of this study is to build the investor’s profile in the Romanian chemical industry and to highlight the factors that influenced the decision of investing in Romania rather than other Central Eastern European countries. The data collection was performed in June 2019 and the list of the 150 foreign companies from the chemical industry was obtained from The National Trade Register Office. Data used in this research were collected using a questionnaire. Dependent variable represents the probability of investing in Romania, with the option of the other Central and Eastern European countries as reference group. The main part of our analysis focus on this question: “Which were the reasons that made you decide invest in Romania?” For analysis, a number of six main classes are used: Infrastructure, labor force, Agglomeration factors, Knowledge, Market Size and Cost factors (as independent variables). Main results consist in the presence of three factors with a positive impact. The paper also highlights that the main advantage considered by a foreign investor in Romania is represented by the cheap labor force. As a secondary conclusion, companies are also interested in other factors that are mentioned in the paper.
Highlights
The chemical industry was permanently considered a key sector for the economic development.The economic development of the states was influenced by the development of the society: From theStone Age, the Bronze Age, and the Iron Age to the industrial revolution
The paper highlights that the main advantage considered by a foreign investor in Romania is represented by the cheap labor force
We can observe the presence of three factors with a positive impact: the labor force (Fwork), the existence of universities and research centers (Fknow), the cost (Fcost), meaning that, Romania was preferred by the foreign investors rather than other Central and Eastern European countries (Table 9)
Summary
The chemical industry was permanently considered a key sector for the economic development. Stone Age, the Bronze Age, and the Iron Age to the industrial revolution. The delimitation of the industrial revolutions was based in criteria related to progress: The used energy; the succession of generations of technologies (from those based on the human physical work to those based on mechanics, electronics, electro-technical devices, chemicals, biology and informatics). An industrial revolution is preceded and engaged by scientific, technical and organizational progress (Table 1). The fact that the enterprises are ready to jump to the Industry 4.0 show the degree in which the SMMs built team of experts with the role of implementing the new technologies [1]. The chemical industry practically is at the base of all the economy sectors and its strategies have a direct impact on the aftermarket users of the chemical products. Worldwide in 2018, China dominated the global classification of the chemical’s producers, with sales of 1198 billion euro, more than the sum of the UE
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