Romanian-owned companies dominate the top 5,000 largest companies in Romania, accounting for 53% of the total, but the figures show significant differences between the country's regions, according to PwC Romania An overview of Romanian entrepreneurship. The distribution of the top 5,000 companies in Romania's historical regions shows a remarkable concentration of local entrepreneurship in Moldova, Dobrogea and Oltenia, where local companies account for more than three-quarters of the total. By contrast, in the Bucharest-Ilfov region, foreign companies are in the majority, while in Transylvania the ratio between foreign and local capital is balanced, says Ionuț Simion, Partner PwC Romania.
At the level of development regions, the North-East (North of Moldova) stands out with a share of Romanian capital of 80% out of the total number of companies from this region present in the top. This is followed by the South-East region (South of Moldova and Dobrogea), with 77%, and the South-West region (Oltenia), also with 77%.
The lower presence of foreign-owned companies in these regions can be correlated with their poor infrastructure and their low ranking in terms of GDP per capita. On the other hand, it is precisely the absence of a larger number of high-caliber foreign investors in these regions that seems to have favored the development of strong entrepreneurial companies.
High concentration of Romanian private capital in Moldova
Moldova stands out not only for the high percentage of locally-owned companies, but also for their size, with some of them leaders in their industries.
Four of the top ten Romanian entrepreneurial companies by turnover in 2024 are based in Moldova. They are Dedeman - the local DIY market leader, and the three companies of the UMB group (SA&PE Construct, UMB Spedition and Tehnostrade) - the detached leaders in the construction sector, all of which are registered in Bacău county. Another company in the top ten - Altex - started in Piatra Neamț, but is no longer included in the regional statistics, as it is now based in Bucharest.
By development regions, the North-East region, which comprises six counties in the north of Moldova, is represented in the Top 318 companies with a cumulative turnover of 75.9 billion lei and 69,400 employees. Within the region, there are two important hubs for local entrepreneurial companies, namely Iași and Bacău counties.
A higher concentration of companies with local capital can be observed only in the Bucharest-Ilfov region, where 847 Romanian entrepreneurial companies are registered, with a combined turnover of 171.6 billion lei and 169,700 employees. But these are dominated by foreign companies, which are much better represented in the capital.
The North-West region, which includes Cluj county, is also an important hub for local capital, with 327 Romanian companies present in the Top 5,000, with a combined turnover of 57.9 billion lei and 64,900 employees.
In contrast, the West region, where the most important economic center is Timis County, has only 164 companies with Romanian private capital in the top, with a turnover of 25.8 billion lei and 22,900 employees. Here too, foreign companies dominate in terms of number and level of business.
Entrepreneurial companies in the North-East region leaders in three sectors
In terms of industries, the North-East is the second most attractive region for local entrepreneurs in the trade sector, after Bucharest-Ilfov, with 145 companies and a combined turnover of 33.2 billion lei.
Also in the manufacturing industry, the North-East region ranks second in terms of cumulative business of companies with local capital present in the Top 5,000, with 60 companies and business of 12.1 billion lei. The North-West is in first place, with 72 companies with a combined turnover of 13.6 billion lei.
Another industry where the North-East region dominates the entrepreneurship map in Romania is the construction industry, where the top 50 companies have a turnover of 21.4 billion lei. The biggest contributions come from infrastructure companies.
With the completion of the Moldova highway (A7), which connects the region with Bucharest, and the Unirii highway (A8), which will facilitate access to Transylvania and Western Europe, foreign investment in the region could increase, bringing new development opportunities for entrepreneurial companies that are now sufficiently solid.