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152 new news items in the last 24 hours
  1. Home
  2. Economy

Kostas Salvaras (Philip Morris) underlines Europe's urgent need to catch up with the US and China in innovation, criticizing excessive bureaucracy

Călin Nicolescu
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3 June 2025, 13:51
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Economy
Foto https://www.facebook.com/profile/100064784164114/search/?q=Salvaras&locale=ro_RO
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In an interview, Kostas Salvaras, Area Vice President at Philip Morris International, points out that Europe needs to improve innovation to compete with the US and China. He says over-taxation and red tape are hurting economic growth, suggesting a more flexible framework to stimulate investment in technology. Salvaras underlines the importance of developing an innovation ecosystem, highlighting the positive impact of Philip Morris' investments in Romania, including job creation and contribution to GDP. The Otopeni plant is an example of re-industrialization, demonstrating Romania's ability to attract high-value investment.

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Q Magazine
Kostas Salvaras, Philip Morris International: Dacă Europa vrea să rămână competitivă, stimularea și expansiunea economică trebuie să fie prioritare

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Philip Morris International has invested over 1.1 billion dollars in Romania, mostly in the factory in Otopeni, converted for smoke-free products. Over 90% of production is intended for export.
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Corina Vasile, director of ANIS: The priority would be to regain the economic competitiveness of Romania, regardless of the new Government's formula.
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Philip Morris International and Andrea Bocelli launched 'Believe. Further', a platform dedicated to progress and positive change. The event took place on June 26 in Venice.
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Eugen Rădulescu, BNR advisor, warns about fiscal imbalances and political instability. "We are on a knife's edge!"
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Philip Morris Kostas Salvaras Europe Competitiveness USA Romania bureaucracy

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