The Venture Capital & Private Equity
Country Attractiveness Index
Alexander Groh, Heinrich Liechtenstein, Karsten Lieser and Markus Biesinger

Romania  
Rank: 36 · Score: 58.2  

Basic facts        
Population (millions) 19.0   IPOs and pulic issues (quartile) 3rd
GDP (US$ billions) 306.1   M&A volume (quartile) 3rd
GDP per capita (US$) 16,148.7   Venture capital investments (quartile) 2nd
GDP growth (per cent) 2.4   Private equity investments (quartile) 3rd
 
 
 
Performance Overview
Indicator   Rank / 125 Rank Trend Score
VC/PE Country Attractiveness Index 36 85, 84, 82, 87, 89 58.2
1 Economic Activity 36 91, 87, 88, 87, 89 79.5
2 Depth of Capital Market 37 83, 84, 80, 86, 88 53.4
3 Taxation 19 105, 105, 103, 104, 106 109.4
4 Investor Protection and Corporate Governance 49 79, 75, 76, 76, 76 73.0
5 Human and Social Environment 44 77, 78, 78, 79, 81 36.0
6 Entrepreneurial Opportunities 48 80, 77, 77, 75, 77 54.8


 
Historic performance, 2019-2023   Key driver performance, 2023
 

   
VC/PE Rank  
VC Rank  
PE Rank
Romania  
Eastern Europe
 
 
 
Peer Group Comparison
 
Regional Peers Economic Activity Depth of Capital Market Taxation Investor Protection and
Corporate Governance
Human and Social
Environment
Entrepreneurial
Opportunites
Poland 84.0 69.8 101.5 64.5 39.3 65.9
Czech Republic 79.4 53.5 104.0 73.8 41.3 69.3
Estonia 62.9 55.7 106.4 84.3 45.1 60.1
Romania 79.5 53.4 109.4 73.0 36.0 54.8
Turkey 70.4 68.2 95.5 65.7 31.9 50.6
Lithuania 67.0 41.6 114.8 79.3 37.6 56.8
Latvia 63.5 43.4 103.8 79.6 37.6 52.0
Last updated: 4 Nov 2023