According to a market analysis, companies with Romanian capital represent 53% of the total of the largest 5,000 companies in Romania, but their distribution varies significantly between regions.
Companies with Romanian capital are the majority in the top 5,000 largest companies in Romania
The distribution of companies from the top 5,000 in the historical regions of Romania highlights a remarkable concentration of domestic entrepreneurship in Moldova, Dobrogea and Oltenia, where local companies represent more than three quarters of the total, according to the PwC Romania analysis An overview of Romanian entrepreneurship. Conversely, in the Bucharest-Ilfov region, foreign companies are in the majority, and in Transylvania the ratio between foreign and domestic capital is balanced.
At the level of development regions, the North-East (North of Moldova) stands out with a share of Romanian capital of 80% of the total number of companies from this region present in the top. It is followed by the South-East region (southern Moldova and Dobrogea), with a percentage of 77%, and the South-West region (Oltenia), also with 77%.
The lower presence of companies with foreign capital in these regions can be correlated with the poor infrastructure and their ranking at the bottom of the national ranking in terms of GDP per capita. On the other hand, it is precisely the absence of a larger number of high-quality 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 companies with local capital, but also for their size, some of them being leaders in their industries.
Four of the ten largest Romanian entrepreneurial companies by turnover in 2024 are based in Moldova. It is about Dedeman – the leader of the local DIY market, and the three companies from the UMB group (SA&PE Construct, UMB Spedition and Tehnostrade) – seconded leaders in the construction sector, all of which are registered in Bacau county. Another company in the top ten – Altex – started from Piatra Neamț, but is no longer included in the regional statistics, currently having its headquarters in Bucharest.
In terms of development regions, the North-East region, which includes six counties in the north of Moldova, is represented in the Top by 318 companies with a cumulative turnover of 75.9 billion lei and 69,400 employees. At the level of the region, there are two important poles for local entrepreneurial companies, respectively the counties of Iași and Bacău.
A greater concentration of companies with local capital is observed only in the Bucharest-Ilfov region, where 847 Romanian entrepreneurial companies are registered with a cumulative business of 171.6 billion lei and 169,700 employees. However, these are numerically dominated by foreign companies, much better represented at the level of the capital.
The North-West region, which includes Cluj county, is also an important nucleus for local capital, with 327 Romanian companies present in the Top 5,000, which accumulate businesses of 57.9 billion lei and 64,900 employees.
Conversely, the West region, where the most important economic center is Timiș county, has only 164 companies with Romanian private capital in the top, with businesses of 25.8 billion lei and 22,900 employees. Here too, foreign companies dominate in terms of number and level of business.
Entrepreneurial companies from the North-East region, leaders in three sectors
At the level of industries, the North-East is the second region of interest for local entrepreneurs in the trade sector, after Bucharest-Ilfov, with 145 companies and cumulative businesses of 33.2 billion lei.
And in the manufacturing industry, the Northeast region ranks second in terms of the cumulative business of companies with local capital present in the Top 5,000, with 60 companies and businesses worth 12.1 billion lei. North-West is in first place, with 72 companies accumulating business of 13.6 billion lei.
Another industry where the North-East region dominates the Romanian entrepreneurship map is that of construction, where it has in the top 50 companies with businesses 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 investments in the region could increase, bringing new development opportunities for entrepreneurial companies that are now sufficiently solid.
