The distribution of companies in the top 5,000 across Romania's historical regions highlights a remarkable concentration of domestic entrepreneurship in Moldavia, Dobrogea and Oltenia, where local companies account for over three quarters of the total, while in the Bucharest-Ilfov region foreign companies are in the majority, according to an analysis by PwC Romania.
In Transylvania, the ratio between foreign and domestic capital is balanced, according to the report called "An overview of the Romanian entrepreneurship" which shows that companies with Romanian capital dominate the top 5,000 largest companies in Romania, representing 53 percent of the total number.
At the level of development regions, the North-East (northern Moldavia) stands out with Romanian capital accounting for 80 percent of the companies in this region featured in the top. It is followed by the South-East region (southern Moldavia and Dobrogea) with 77 percent, and the South-West region (Oltenia), also with 77 percent.
Moldavia stands out not only for the high percentage of locally owned companies, but also for their size, with some being leaders in their industries. Four of the ten largest Romanian entrepreneurial companies by turnover in 2024 are based in Moldavia. These include Dedeman - the leader of the local DIY market and the three companies of the UMB group (SA&PE Construct, UMB Spedition and Tehnostrade) - clear leaders in the construction sector, all registered in Bacau county. Another top-ten company, Altex, started in Piatra Neamt, but no longer falls within the regional statistics, as its headquarters are now in Bucharest.
By development regions, the North-East region, which includes six counties in northern Moldavia, is represented in the top 5,000 by 318 companies, with a combined turnover of 75.9 billion lei and 69,400 employees. Within the region, there are two key hubs for local entrepreneurial companies: Iasi and Bacau counties.
A higher concentration of locally owned companies is noticed 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. However, these are numerically dominated by foreign companies, which are far better represented in the Capital.
The North-West region, which includes Cluj county, is also an important hub for domestic capital, with 327 Romanian companies in the top 5,000, generating combined turnover of 57.9 billion lei and employing 64,900 people.
By contrast, the West region, where Timis county is the main economic centre, has only 164 Romanian privately owned companies in the top 5,000, with a combined turnover of 25.8 billion lei and 22,900 employees. Here too, foreign companies dominate in both number and business volume.
By industry, the North-East region ranks second in attractiveness for local entrepreneurs in the trade sector, after Bucharest-Ilfov, with 145 companies and a combined turnover of 33.2 billion lei.
In the manufacturing sector, the North-East region is also second in terms of combined turnover of locally owned companies in the top 5,000, with 60 companies generating 12.1 billion lei. The North-West region leads, with 72 companies and total turnover of 13.6 billion lei.
Another industry where the North-East region dominates Romania's entrepreneurial landscape is construction, with 50 companies in the top ranking generating a combined turnover of 21.4 billion lei.
"With the completion of the Moldavia Motorway (A7), which connects the region to Bucharest, and the Union Motorway (A8), which will improve access to Transylvania and Western Europe, foreign investment in the region could increase, bringing new development opportunities for entrepreneurial companies that are already sufficiently solid," PwC underscored.
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