Foreign investors are one step away from winning the battle they have been fighting for more than half a year to modify labour legislation, which is considered a hindrance to investments. The possibility of hiring (as well as firing) more easily will lead to a rise in the number of legally-employed workers in a very short time and will restore foreign investors' confidence in Romania, says the Foreign Investors Council (CIS), an organisation that came up with most of the provisions used by the Boc Government in the draft law.

"A flexible labour market is a draw for investors and we appreciate the Government's efforts in this respect. According to CIS, "the modification of the Labour Code is a step forward towards adjusting employment relationships to the current conditions of the economy. But we believe the dynamic of the Romanian and international market needs to be monitored on a permanent basis and reflected in labour legislation," said Mariana Gheorghe, CEO of Petrom, the biggest company in Romania, with 4.4 billion euros in turnover last year, who is also head of CIS.

The Constitutional Court will discuss the constitutionality of the new Labour Code on Wednesday, this being one of the most controversial draft laws in the past few years - which will enter into force 30 days after its publication in the Official Gazette.

None of the members of the CIS board has given a concrete answer to ZF's question on how many new employees they intend to hire in the coming period (and based on what type of contract - temporary or permanent) as a result of the enforcement of the new provisions of the Labour Code.

Foreign investors are one step away from winning the battle they have been fighting for more than half a year to modify labour legislation, which is considered a hindrance to investments. The possibility of hiring (as well as firing) more