The Foreign Investors Council, or FIC, in Romania put forth 12 steps it deems necessary for the economy to pick up speed once again. At a budgetary cost estimated at 860 million Euro per year, or 0.7% of the GDP, the plan would result in on overall economic growth of 11.6% by 2015, in 250,000 new jobs and in 8.5% higher revenues to the state budget.

Dominic Bruynseels, a member of the FIC board and executive director with the Banca Comerciala Romana, or BCR, likened the Romania's case with that of a car that was not running but was wasting its battery on keeping the lights on. "This package is designed to jump-start Romania's battery," Bruynseels said. He also commented that the current 3.5 billion Euro FDI would grow to 5 billion investments each year.

Mariana Gheorghe, president of the FIC and executive manager with Petrom, explained that FIC put forth an 80-step plan, the first 12 of which were of the utmost priority. She also explained that under the cloak of FIC stay companies which make a quarter of the national economy and one third of the foreign companies investing in Romania.

All steps put forth actually require the Government's implementation.

Take for instance the poor collection of revenues to the budget.

FIC suggested private companies to guard the customs, to improve the performance of the customs officials. Actually, private companies in the most hard hit industries, like the tobacco, alcohol and food processing industries, are ready to pay with their own money such guarding companies. Better tax collection at the customs would bring 460 million Euro to state coffers and create 46,500 new jobs, explained Toader Serban, senior partner with KPMG.

Or, consider the poor level of investment in housing, in spite of the dire need for new homes all over Romania. The FIC suggested the Government to start financin