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| Newsletter 8 November 2003 Download Archive |
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| NEWS & EVENTS | |
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| Introduction to Bucharest Bucharest is the capital and largest city of Romania. The city lies on a generally level plain and, including suburban districts, occupies an area of about 300 sq km. The city is divided into two sections by the Dambovita river and is crossed by two wide boulevards (north - south and east - west). It consists of seven administrative districts ("sectors"): six in the city proper and the seventh being the adjacent rural area. 
A major industrial centre, Bucharest accounts for one-fifth of Romania's industrial production. Industries include heavy machinery, aviation, precision machinery, agricultural tools, furniture, electronic components and equipment, chemicals, textiles, leather goods, wire, soap, cosmetics, and processed food. Bucharest is also the financial and trade centre of Romania. Most industrial areas are placed in the suburbs, whilst the city itself is primarily residential. After the collapse of the Soviet Bloc in 1989-91, Bucharest wes left with an obsolete industrial base and a pattern of industrial capacity wholly unsuited to its needs. In February 1997, Romania embarked on a comprehensive macroeconomic stabilization and structural reform program, but reform subsequently has been a stop-and-go process. Restructuring programs include liquidating large energy-intensive industries, and major agricultural and financial sector reforms. Today, the Bucharest economy is continuing its difficult transition to a market-based economy. |
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