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New York Times: Romania has the opportunity to become a



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Romania has the chance to become an energy power in the region, according to an analysis by the New York Times. American journalists talk about the Cernavoda nuclear power plant, but also about the Black Sea gas fields. At the same time, they believe that the tax system in Romania is the toughest in Europe and discourages investors, according to Digi24.

The Cernavoda nuclear complex was designed during the Ceausescu regime. He wanted to isolate Romania from the influence of the Soviet Union, generating its own electricity. More than 30 years after the fall of the regime, Romania benefits from this thinking, write the New York Times journalists. The two reactors supply very cheaply about 20 percent of Romania’s electricity.

The nuclear complex is owned by Nuclearelectrica, a state-controlled company that plans to spend up to 9 billion euros on nuclear initiatives during this decade, according to Romanian officials.

However, the New York Times warns:

“The activity in Romania will probably prove to be a challenge for companies from the United States and other western countries. The government has a reputation for welcoming foreign investors with high taxes and harsh regulations. “

The tax system in Romania is considered the toughest in Europe, writes the author of the article, which comes with the example of Exxon Mobil. Last month, the company sold its 50 percent stake in the Neptun Deep project, presented as the largest new natural gas field in the European Union.

In 2020, encouraged by the Trump administration, Romania discontinued negotiations with China and turned to Washington as the main source of nuclear support, according to the New York Times. For a country like Romania, with a cheap and well-trained workforce, making equipment for this new type of reactor could turn into an export industry, say the experts with whom the American journalists spoke.

The New York Times article also includes a not at all flattering perception for our country:

“Apart from the faded elegance of some neighborhoods in Bucharest, Romania is a relatively poor country – revenues place it in last place in the European Union.”