American Chamber of Commerce in Ro mania ANNUAL GENERAL MEETING March 29, 2012 Crowne Plaza Hotel, Crown Ballroom Buch

1. American Chamber of Commerce in Romania ANNUAL GENERAL MEETING March 29, 2012 Crowne Plaza Hotel, Crown Ballroom Bucharest, Romania

2. 2012 Annual General Meeting Agenda First Call: 17:30 (in case the statutory quorum of 50% will not be met – second call) Second Call: 18:00 • Welcome – Alexandra Gatej, AmCham President • Remarks U.S. Ambassador Mark Gitenstein, Honorary AmCham President • Remarks Lucian Croitoru, Advisor to the Governor of National Bank of Romania • Q&A • AmCham Advocacy Highlights 2011 • 2011 Activity and Financial Reports • 2012 Activity Plan and Budget Approval • Next on AmCham’s Agenda • How to use your AmCham Membership • AmCham Awards • Results of Elections for the 11(eleven) members of the Board of Directors and the 3 (three) members of the Auditing Commission • Networking Cocktail

3. American Chamber of Commerce in Romania ANNUAL GENERAL MEETING March 29, 2012 Crowne Plaza Hotel, CrownBallroom Bucharest, Romania

4. 2011 Overview • AmCham consolidated its position as leading representative of the business community in Romania • Main achievements in 2011: Advocacy activity • Visible success in selected advocacy efforts - 49 position doc. (vs. 34 in 2010) • Maintained open access to the Government • 58 events generated by committees + learning & innovation workshops Increased membership engagement • 58% - members actively engaged in committees work (50% in 2010) • 89 % of members (aprox. 1,540 persons) attending at least of one AmCham’s business events (+ 1,500 at the July 4th party) • 310 members (by end of Dec. 2011) – 35 lost members, 59 new members • 116% - annual membership retention rate (in revenues from dues) Development of new services for members (i.e. learning & innovation workshops) • Partnerships with other business associations and key players

5. AmCham Partnerships • Strategic Partnerships (not formalized, but functional on various areas related to AmCham’s advocacy agenda) • World Bank • IMF • FIC • ANIS • Romanian Competiton Council • Ministry of Education • Ministry of Labor • Ministry of Justice • U.S. Embassy & US Foreign Commercial Service • American-Romanian Business Council • Partnerships to support Members’ initiatives • ARC Romania – People for People Gala (CSR Awards) • Media Partnerships • Mediafax • The Diplomate • Business Review

6. Competitiveness Report 2011 Structure of the Policy Areas Economic policy was split into six areas covering specific aspects of policy making: • General - macro outcomes of the other five policy areas combined: the indicators listed represent the desired outcome of economic policy; • Legislative framework - effectiveness of legislation; • Public administration – public services and regulation enforcement; • Physical Infrastructure – physical infrastructure development; • Human Resources – aspects related to labor force, education and research; • Fiscal/Monetary policy – acces to capital, fiscal policy and capital markets. Benchmarking group : Austria, Bulgaria, Czech Republic, Hungary, Poland and Slovakia.

7. Competitiveness Report 2011 • Overall Competitiveness Score (1) • Romania may have to leverage some of its advantages to improve its performance across the board; • Indexed against the European Union average, Romania performs slightly above average in general indicators and public administration; • Below average in physical infrastructure, human resources and fiscal/financial; • Romania‘s score in the general indicators is heavily biased by one advantage: • a low comparative level of government subsidies. Otherwise, the country had 8 disadvantageous indicators to 5 advantageous; • Public administration - balanced: 10 advantages to 10 disadvantages; • Physical infrastructure and human resource results were less balanced: combined, the country has more than double the disadvantages (27) to advantages (10).

8. Competitiveness Report 2011 • Overall Competitiveness Score (2) • Within the benchmarking group, Romania performs around the average in general indicators, public administration and physical infrastructure, and below the average in human resources and fiscal/financial policy. The country‘s overall performance is at a slight competitive disadvantage to the other six countries in the regional subset. • Policies to address deficiencies in infrastructure and human resources. Increase the level of investment in both human capital and assets (tangible and intangible).

9. Competitiveness Report 2011 • General Policy Competitiveness • Set up a Competitiveness Unit under PM’s office - link CoNaCo, to promote and implement policies and policy synergies that lead to an increased economic competitiveness for Romania; • Support integrity, quality and accountability of public administration to support the quality of public services; • Stimulate R&D and innovation.

10. Executive Survey • Offers a broad estimate of business environment perception of the main areas analysed (economy, public administration and business environment); • Expectations for a medium term horizon of 5 years; • Over 200 business leaders whose companies operate in Romania.

11. Government and Public Service • The government received fairly low marks in the various areas of economic policy; • On a scale of 1 (worst) to 10 (best), the government received an average score of: • 3.83 on the legislative and regulatory environment, • 3.08 for public administration, • 2.95 for physical infrastructure development, • 4.09 for human resources, • 4.54 for fiscal and monetary policy. • Findings are roughly in line with the statistical indicators analyzed previously, which indicate Romania needs considerable improvements in virtually all of these areas.

12. Legislative and Regulatory Framework • Scores ranging from: • a minimum average rating of 4.53 for environmental protection, • a maximum average rating of 5.50 for labor relations. • Compared to other European countries, public administration in Romania has received an average score of 3.19. • Physical infrastructure - a wide range of scores: • a low of 3.07 for transportation infrastructure and 3.27 for healthcare, • a high of 6.52 for commercial space and 7.58 for communications and ICT.

13. Human Resources • Generally received highly appreciated by CEOs; • Average ratings range from 5.37 for internationally experienced management and 5.99 for professional service and admin to 6.95 for advanced degrees in science and math and 7.33 for linguistic ability; • Qualities of the workforce receiving the highest marks include creativity and education, whereas discipline and decision-making are perceived as particularly problematic; • Lack of competitiveness that characterizes Romanian on the R&D and innovation front; • Average rating for government effectiveness in setting the direction and funding of innovative research that has commercial potential stands at 3.09.

14. Expectations for medium term • Over 57% of the CEOs surveyed have indicated their company will increase capital investment in Romania by either up to 50% or more over the next five years; • Approximately 64% of respondents have mentioned their average number of employees in Romania will increase by either up to 50% or more; • Almost 62% of the CEOs surveyed have indicated their company’s investment in Romania has met expectations, and 19.9% have indicated it has actually surpassed expectations; • Most of these decisions seem to be motivated by local demand for their products or services and local business environment.

15. AmCham Advocacy Highlights, 2011 Active Committees in 2011: • CAPITAL MARKETS • COMPETITION AND STATE-AID • CORPORATE GOVERNANCE • ENERGY & ENVIRONMENT • HEALTHCARE • INFORMATION AND COMMUNICATION TECHNOLOGIES • LABOR & EDUCATION • PUBLIC PROCUREMENT, PPP, INFRASTRUCTURE • STRUCTURAL FUNDS • TAXATION

16. Capital Markets CommitteeChairman: Peter Weiss, Bancpost 2011 Advocacy Report • Made available to the IMF – EC - WB delegation to Bucharest short term solutions to address issues related to privatizations and capital markets. • Elaborated the presentation of the capital markets in Romania, including recommended solutions. • Submitted through the Taxation Committee recommended amendments to the Fiscal Code to address cumbersome reporting requirements. • Met jointly with the Taxation Committee with representatives of the Brokers’ Association, Fund Administrators’ Association and Romanian Banking Association to identify generally accepted solutions to the necessity of removing the quarterly declaration and payment of capital gains tax. • Met with the IMF representative to Bucharest to find out about IMF’s priorities on the capital markets. • Started the elaboration of the Capital Markets position paper identifying short term and medium to long term priorities and solutions for the capital markets development in Romania.

17. Capital Markets CommitteeChairman: Peter Weiss, Bancpost 2012 Advocacy Priorities • Promote the recommendations detailed in the Capital Markets position paper with relevant authorities. • Organize an event with Romanian officials to share the expertise and actions taken by other countries in Europe that led to the development of capital markets. • Get into partnerships with organizations that have similar goals as AmCham in order to have a better impact in promoting measures to develop the capital market. • Jointly promote with the Taxation Committee recommendations to further amend the Fiscal Code. • Generate dialog within the Ministry of Finance, with the participation of all stakeholders, to identify solution to the declaration and payment of capital gains tax issues.

18. Competition and State-Aid CommitteeChairman: Tibor Pandi, Citibank 2011 Advocacy Report • Up-dated position paper on EO 75/2010 amending the Competition Law. • Proposed amendments to the Draft Guidelines on file access. • Proposed amendments to the Draft Regulations regarding complaints. • Proposed amendments to the Draft Guidelines regarding sanctions. • Proposed amendments to the Draft Regulations on contraventions. • Proposed amendments to the Draft Regulations regarding economic concentrations. • Up-dated recommendations to the Draft Regulations regarding economic concentrations. • Up-dated recommendations to the Draft Guidelines regarding sanctions. • Made recommendations to the Draft Unfair Competition Law. • Organized the workshop on Legal Aspect and Economics of Vertical Restraints with the Competition Council. • Organized several technical meetings with the representatives of the Competition Council to detail on the recommendations advanced by the committee.

19. Competition and State-Aid CommitteeChairman: Tibor Pandi, Citibank 2012 Advocacy Priorities • Organize specialized competition related workshops with the participation of Competition Council’s representatives and prominent international and national competition experts. • Provide feedback on draft competition related legislation. • Continue the cooperation with the Competition Council and organize technical meetings with them. • Support other AmCham committees on aspects related to restrictions which might affect competition. • Support AmCham member companies on competition related issues.

20. Corporate Governance CommitteeChairman: Anda Todor, Salans 2011 Advocacy Report • Organized an event to present the new provisions of the Civil Code impacting the business environment. • Formulated a position to the consultation launched by the European Commission that addressed the ways in which corporate governance of European companies can be improved. • Organized a series of seminars on corporate governance and New Civil Code issues which are relevant for companies (currently ongoing). • Formulated suggestions to amend the Companies Law (Law no. 31/1990). • Formulated suggestions for enactment on corporate governance in public companies (E.G.O. 109/2011).

21. Corporate Governance CommitteeChairman: Anda Todor, Salans 2012 Advocacy Priorities • Define a set of guidelines on anti-corruption/bribery for AmCham members. • Continue the training sessions on corporate governance and New Civil Code issues. • Continue the work on insolvency issues in collaboration with the Justice Ministry’s working group. • Explain new provisions impacting the business environment of the other 3 new codes expected in the near future (Civil Procedure Code, Penal Code and Penal Procedure Code).

22. Energy and Environment CommitteeChairman: Carmen Neagu, General Electric 2011 Activity Report • Advocated for the enforcement of Law 220/2008 on renewable energy: submitted jointly with RWEA and FIC a position letter to the Prime Minister, made an inventory of secondary legislation needed to enforce Law 220/2008. • Advocated for the elaboration of a comprehensive Energy Strategy: • Provided the Ministry of Economy with a position letter highlighting a set of general principles and observations related to the proposed Energy Strategy. • Elaborated the table of contents of the Energy Strategy and presented it within the Consultative Council of the Committee for energy security (CISE) where AmCham is a member. • Promoted the proposed Table of Contents for the Energy Strategy with EBRD to find out the conditions to get an EBRD grant for the elaboration of the Energy Strategy. • Introduced thermal energy focus as major energy efficiency resource. Elaborated a stakeholders’ map for the thermal energy sector to serve as basis for further initiatives in 2012. • Organized a focused event on Smart Grids with the participation of targeted private and public sector representatives. • Organized meetings with Leonard Orban, Minister Ion Ariton, MAI on district heating, IMF representatives to Bucharest.

23. Energy and Environment CommitteeChairman: Carmen Neagu, General Electric 2012 Advocacy Priorities • Maintain the position of cooperation catalyst among energy and environment stakeholders and continue to present AmCham’s recommendations within CISE. • Keep advocating for the elaboration of a comprehensive Energy Strategy. • Monitor the transposition of the 3rd energy package. • Strengthen collaboration with authorities to contribute to legislative initiatives and channel public resources towards strategic sectors. • Increase AmCham’s educational role regarding technologies, impact, best practices, and also cultivate a relationship with the mass-media to avoid further speculations. • Focus on Energy Efficiency in light of the National Plan for Energy Efficiency to be drafted. Continue the focus on thermal energy. • Use members’ expertise to expand committee’s activity in the area of energy resources from the exploitation point of view and increase committee’s expertise in the gas area. • Further advocate for the smart grids concept and solutions in the Romanian energy sector. • Collaborate with other AmChams in the region to launch a regional energy program.

24. Healthcare CommitteeChairman: Pascal Prigent, Glaxo Smith Kline 2011 Advocacy Report • Contributed to the National Strategy for Health Technology Assessment (HTA) project, in collaboration with the Ministry of Health. • Organized a conference regarding the Value of Innovation and HTA, in partnership with LAWG (October 2011). • Attended (as AmCham HTA subcommittee/ MoH working group representative) the meeting organized by the European Commission team in Romania & CNAS – Assessment of the transposition of Directive 2011/24/EU on the application of patients’ rights in cross-border healthcare (October 2011). • Submitted 4 position papers on the clawback tax throughout the year. • Call for consultations on the new Healthcare Law to various stakeholders, including the Presidential Healthcare Advisor, Virgil Paunescu and the Presidential Healthcare Commission President, Cristian Vladescu • Participated to a series of meetings with MoH representatives: SoS Adrian Streinu Cercel (on HTA Strategy and the new Healthcare Law), SoS Vasile Cepoi (on the new Healthcare Law). • Submitted contributions on the new Healthcare Law, as part of the ongoing consultation process with MoH. 

25. Healthcare CommitteeChairman: Pascal Prigent, Glaxo Smith Kline 2012 Advocacy Priorities • Define, submit & advocate for a general set of principles agreed by Committee members to be included in the new Healthcare Law, in order to ensure a functional & sustainable law which puts the patient in the centre. • Continue the dialogue with key stakeholders in order to ensure a transparent and predictable decision making process. • Provide support in the implementation of the HTA legislation.

26. ICT CommitteeChairman: Ronald Binkofski, Microsoft 2011 Advocacy Report • Ellaborated a position paper having as anchor the setting up of a CIO Office under the Prime Minister direct coordonation. • Elaborated a position paper on KBES (Knowledge Based Export Services) to promote the incentives and development of this sector. • Organized meetings with Mr. Emilian Zahan, Cabinet Director at MCSI to discuss the Ministry’s priorities. • Organized a meeting in partnership with the Energy & Environment Committee on smart grids issues. • Organized another edition of an open day event within House of Parliament on e-Government issues.

27. ICT CommitteeChairman: Ronald Binkofski, Microsoft 2012 Advocacy Priorities • Advocate for the setting-up of the CIO Office, as part of a modern state development. • Continue the promotion and helping the implementation of the KBES task force objectives. • Increase the percentage of the EU funds allocated for the IT&C sector, through strategic programs.

28. Labor and Education CommitteeChairman: Radu Enache, HP 2011 Advocacy Report • Elaborated and promoted recommendations to the Social Dialog Law. • Presented AmCham’s opinions in interviews and press articles related to the amendment of the labor legislation. • Put together questions regarding the new provisions of the Labor Code and the Social Dialog Law and shared them with ITM and the Ministry of Labor. • Organized 3 roundtable discussions with ITM (2) and the Ministry of Labor  to get clarifications on the application of the new provisions of the labor legislation. • Provided feedback on Social Marginalization Law, Social Services Quality Assurance Law, Social Economy Law, Law regarding Subsidies to the Social Assistance Units. • Met with Ministers of Labor Sulfina Barbu and Claudia Boghicevici to present AmCham’s labor related priorities and contribute to the Ministry agenda. • Signed partnerships with the Ministry of Education and Ministry of Labor • Elaborated proposed amendments to the Labor Code and Social Dialog Law at one year of implementation.

29. Labor and Education CommitteeChairman: Radu Enache, HP 2012 Advocacy Priorities • Advocate for the implementation of AmCham’s proposed amendments to la Labor Code and Social Dialogue Law. • Based on input from member companies, initiate specific activities to address the competitive disadvantages identified by AmCham’s Competitiveness Report in the Labor and Education areas. • Organize meetings with labor and education authorities to promote AmCham’s recommendations in these two areas. • Contribute with priorities to the elaboration of Romania’s strategy for 2014 – 2020 financial cycle. • Identify specific issues with the functioning of REVISAL program and raise them with ITM representatives.

30. Public Procurement, PPP, InfrastructureChairman: Bogdan Balaci, IBM 2011 Activity Report • Elaborated and promoted the position paper on  the PPP mechanism in Romania, highlighting the economic arguments in favor of a PPP mechanism, the main inconveniences of the Romanian PPP legislation and the bankability of the PPP projects. • Elaborated recommendations to the EO 39/2011 amending the PPP Law • Made an inventory of successful PPP projects across Europe to be used as a supportive document in AmCham’s efforts to address the inapplicability of the PPP law.   • Contributed to the assessment of the public procurement system in Romania conducted by Deloittee and monitored legislatives changes in the field of secondary public procurement legislation in view of organizing meetings with ANRMAP in order to improve such legislation. • Organized meetings with the representatives of the Ministry of Transportation, Ministry of Finance, head of the PPP Unit under SGG, members of the IMF-EC delegation.

31. Public Procurement, PPP, InfrastructureChairman: Bogdan Balaci, IBM 2012 Advocacy Priorities • Keep advocating for a functional PPP legislation in Romania. • Organize an event with CNSC to clarify complaint procedure related aspects of relevance to the business community. • Focus on green public procurements. • Advocate for the combination of public-private-partnerships and EU funds for the 2014 – 2020 financial period. • Analyze and give feedback on the bidding and awarding documentation standardization project carried out with EIB funds.

32. Structural Funds CommitteeChairman: Wolfgang Schoiswohl, BCR 2011 Advocacy Report • Identified the EU funds related priorities within the committee and met with PM’s Councilor and the ACIS team to promote them. • Met World Bank experts and shared committee’s priorities to be taken into consideration for the EU funds assistance program that was to be designed. • Provided Minister Orban with the position paper on Measures to Increase Absorption and met with him and his team of experts to further substantiate the recommendations. • Initiated the AmCham internal consultation process, cross-committees, to identify business community’s priorities for the 2014 – 2020 financial exercise. • Organized a business breakfast with Minister Orban and discussed measures already taken by MAEur to address EU funds management issues, as well as plans for the 2014 – 2020 programming period. • Attended through its members the conference organized by the MAEur to launch at the national level the EU funds programming process for the period 2014-2020.

33. Structural Funds CommitteeChairman: Wolfgang Schoiswohl, BCR 2012 Advocacy Priorities • Provide the Ministry of Finance with suggestions to expand the scope of GD 1680/2008 to R&D and high-end technologies, as a follow up to the findings of the Romania Competitiveness Report. • Advocate for canceling the grant contracts that recorded significant delays in implementation, in order to avoid the risk of funds de-commitment. • Advocate for improved physical infrastructure in conjunction with the Public Procurement, PPP, Infrastructure Committee and encourage the combination of public-private-partnerships and EU funds for the 2014 – 2020 financial period. • Advocate for the implementation of JESSICA mechanism in the current financial exercise to avoid the risk of funds de-commitment. • Collect and harmonize across AmCham committees priorities for 2014 – 2020 financial period and promote them with authorities. • Organize business meetings with officials and authorities involved in the EU funds management. • When appropriate, initiate or get into partnerships for an improved impact.  

34. 2014 – 2020 EU Financial Framework Thematic objectives in line with the Europe 2020 Strategy (WHAT) • Strengthen research, technological development and innovation. • Enhance access to and use and quality of information and communication technologies. • Protect the environment and promote resource efficiency. • Promote sustainable transport and remove bottlenecks in key network infrastructures. • Enhance the competitiveness of small and medium-sized enterprises. • Enhance institutional capacity and an efficient public administration.

35. 2014 – 2020 EU Financial Framework Institutional architecture adjustments (HOW) • Design a flexible institutional architecture for managing and implementing structural funds (structure of OP’s, reimbursement channels, adequate balance between centralization of funds management and local instruments etc). • Create tailored disbursement mechanisms according to the needs of EU funds beneficiaries (including private IB’s, involving banks in funds disbursement, using financial engineering instruments etc). • Introduce revolving loans-grant blended scheme with a reimbursable component, for certain measure/operations, along with simple grant schemes and outsource their management and implementation to private entities. • Introduce innovative financial tools, e.g. portfolio guarantees, interest rate subsidy, blending of loans and grants. • Use Jessica mechanism for urban infrastructure projects. • Combine PPP projects with EU funds.

36. Taxation CommitteeCommittee Chair: Ionut Simion, PwC • 2011 Advocacy Report • Advocated for the modernization of the fiscal legislation, for the re-writing and republishing of the Fiscal Code by: • Coordinating the third edition of proposing amendments to the Fiscal Code and Fiscal Procedures Code jointly with other business associations. • Proposing amendments to several pieces of legislation amending the fiscal legislation. • Identifying and promoting with the MoF the top five fiscal priorities that should be solved. • Including in WB’s agreement with the Government the obligation for the MoF to re-write and republish the Fiscal Code by October 2012. • Advocated for the modernization of ANAF and for improving tax collection by: • Organizing meetings and roundtable discussions with ANAF leadership. • Meeting with WB’s representatives to voice business community’s concerns and availability to get involved. • Advocated to maintain the flat tax and reduce social security contributions by: • Having meetings with MF representatives and sustaining these principles. • Issuing a press release highlighting the opportunity to cut social contributions. • Meeting with the President of the Fiscal Council and IMF to discuss these aspects. • Became a member of the Social Dialog Commission at the MoF. • Advocated for a functional Fiscal College, as the relevant consultation body with MoF.

37. Taxation CommitteeCommittee Chair: Ionut Simion, PwC 2012 Advocacy Priorities • Keep advocating for a modern, rewritten and republished Fiscal Code. • Give input to World Bank’s project on the modernization of the fiscal administration. • Monitor and react to relevant tax related initiatives at national level, as well as at EU level. • Maintain an open dialog with decision makers and international organizations to promote committee’s views and recommendations. • Continue the advocacy efforts to address the portfolio of receivables issues. • Continue the dialog with authorities on the top fiscal priorities identified by the business community. • Communicate committee’s views in the media when appropriate.

38. AmCham Membership

39. AmCham Visibility in 2011 • AmCham’s visibility in 2011 was enhanced by way of three main channels: • Press releases related to AmCham advocacy projects as well as regarding other areas of its activity, interviews of AmCham representatives, AmCham tehcnical opinions requested by the business media • A total of 7 press releases issued in 2011 • A significant number of requests for interviews with AmCham representatives from the business media . • Most of AmCham’s exposure came in light of the advocacy efforts made towards increasing Romania’s competitiveness (starting with May, 2011 and up to December, 2011 when the Romania Competitiveness Report was released). • AmCham Press Meetings & Conferences • May 12, 2011 – Press meeting on the priorities set by the newly appointed Board of Directors in view of improving Romania’s competitiveness and further attracting foreign investments • September 13, 2011 – Press Conference on the joint efforts of AmCham Romania and Foreign Investors Council (FIC) to re-write and update the Fiscal Code and the Fiscal Procedure Code • October 11, 2011 – Press meeting to expose AmCham’s position regarding the Clawback Tax, a highly limitative agent for all pharmaceutical companies in Romania. • Partnerships with members/event organizers/media

40. AmCham Visibility in 2011 AmCham atrage atentia asupra limitarilor procedurii de esalonare AmCham, îngrijorată de strategiile rămase pe hârtie din sectorul energeticAmCham: Avem nevoie de victorii mărunte şi dese ca să atragem din nou atenţia investitorilorAmCham in favoarea reducerii CASAmCham: Prioritatile pentru cresterea competivitatii economice a Romaniei Alexandra Gatej, AmCham: Iesirea din recesiune, un semnal important pentru investitori Investitorii străini cer un Cod fiscal modern Alexandra Gatej elected president of AmCham Romania, new board in place AmCham și CIS: Procesul de consultare cu Ministerul Finanţelor este deficitarAmCham: Taxa clawback va ţine investiţiile din farma departe de România AmCham prezinta impactul taxei clawback asupra mediului de afaceri localMark Gitenstein: Investitorii americani îşi vor majora investiţiile în România, posibil cu 50% în cinci aniAMCHAM LANSEAZĂ RAPORTUL DE COMPETITIVITATE A ROMÂNIEI. Ţara noastră are 25 de avantaje competitive şi 49 dezavantaje.Camera de Comerţ Americană despre avantajele şi dezavantajele competitive ale României. Cât de mult contează cheltuielile de la SănătateAmCham: Doar un numar redus de companii va putea apela la esalonarea datoriilor catre Fisc Businessmen vs. authorities over lowering social contributions AmCham: Reducerea contribuţiilor sociale ar creşte colectarea pe termen lung Investitorii straini cer un cod fiscal mai sanatos. Vezi aici solutiile lor AmCham: Clawback Tax Discourages Investment on Pharmaceutical Market

41. One-off Achievements • New Office Space (innaugurated in July 2011) • Melania Roman (born March 1, 2012)

42. Services for Members • Advocacy • Business Networking (@ events, workshops, trade missions) • Members2Members Services (special discounts) • U.S. Business Visa Facilitation • Learning & Innovation Center • Market Access (AmCham network worldwide) • EU Funded Projects

43. AmCham Patron Members 2011 (I)

44. AmCham Patron Members 2011 (II)

45. AmCham Patron Members 2012 (I)

46. AmCham Patron Members 2012 (II)

47. 2011 Audit Reports Our Special Thanks to: • RSM Scot, Audiconsult si George Vascan for their continuous accounting assistance and internal audit. • Ernst & Young for the external audit.

48. American Chamber of Commerce in Romania ANNUAL GENERAL MEETING March 29, 2012 Crowne Plaza Hotel, Crown Ballroom Bucharest, Romania

49. AmCham AGM Decisions • Approve 2011 Activity & Financial Report • Approve 2012 Budget

50. 2012 Preview • Advocacy Leads AmCham will pursue in 2012: • Romania’s position within the next EU Financial Framework (2014-2020). • Transparency, predictability, stability for the business environment. • Elaborate antibribery & corruption set of rules • Prepare AmCham members to apply the norms for the new Civil Procedure Code and Criminal Code • Planning , coordination and implementation to comply with EU engagements assumed in the pre-accession negotiations. • Coherent & coordinated vision and strategy for Romania’s growth and increased competitiveness. • Healthcare Legislation. • Modernization of fiscal administration and fiscal legislation.