(ANSA) - BELGRADE, 05 APR - More than 70% of foreign investors in Romania said that their trust in the local business environment has lowered due to the events of the last six months, the Foreign Investors Council (FIC) Business Sentiment Index carried out in March revealed.

Fic noted recalled that "2017 has been marked by a fiscal revolution which the business community opposed almost unanimously." Moreover, "a great deal of energy has been consumed on debates regarding judicial reform without taking into consideration the needs of the business community," FIC added.

The Foreign Investors Council (FIC) is one of the biggest business organizations in Romania. Its members registered a total turnover of 187 billion RON in 2016 and employ approximately 200.000 people.

The Business Sentiment Index survey is carried out every six months among FIC members.

The latest Index revealed that 68% of respondents believe the available workforce is not competitive enough compared with other locations; 85% of the respondents said the Romanian fiscal system is uncompetitive. Among other constraints, the fiscal system and infrastructures seen as uncompetitive and the burden of bureaucracy. In a statement, Fic noted that in 2017 foreign investments reached 4,5 billion euro in Romania, with a slight growth compared to 2015 and 2016, but still half the volumes compared with the pre-crisis period. Fic noted, however, that a significant part of its members expects their business to grow in 2018 and that short term data look good. (ANSA).