Since the foundation of the Dynasty in 1866, the Royal Family of Romania has undertaken to promote the Romanian economy. Over the years, the Royal Family has used several tools to develop the Romanian economy. First of all, it suggested public policies that led to the rapid development of some economic sectors. King Carol I is an example of this. When he became Romania’s sovereign in 1866, the Old Kingdom of Romania had no railways at all. When he died in 1914, there were more than 3,000 kilometres of railway.
Another means was the power of example. Until the advent of communism, Romania’s Royal Family administered a collection of properties called the Crown Estates. They became one of the most prosperous economic entities in Romania. Profits from the Crown Estates were invested in the development of the economy and the building and development of schools.
Also, since the time of King Carol I, the Royal Family of Romania has been involved in supporting private economic initiative. Thus, there were companies in which the Royal Family of Romania held shares, and this kind of involvement guaranteed the seriousness of those enterprises.
Another type of involvement was the promotion of Romanian exports. Members of the Royal Family of Romania, especially Queen Mary, have promoted many Romanian products, which have gained a greater notoriety on Romanian markets precisely because of the celebrity offered by the Sovereigns of the Kingdom of Romania.
After the fall of communism, this tradition was resumed. Today, the Royal Family of Romania grants the title of Official Supplier of the Royal House to those who meet the necessary criteria. Large and small companies from Romania and the Republic of Moldova enjoy this privilege. There are also an increasing number of entities, products and services on the market that bear a royal name, be they historical figures or current members of the Royal Family.
The Royal Family of Romania also promotes exports of products and services from Romania and the Republic of Moldova. Thus, very often, members of the Royal Family are accompanied on their official visits abroad by groups of entrepreneurs who are interested in entering markets that are less accessible to Romanian companies, such as Jordan. Thus, thanks to the involvement of the Royal Family, the largest economic forum in the history of Romanian-Jordanian bilateral relations was organised in the capital of the Jordanian Kingdom, Amman, in 2017.
Also thanks to the Royal Family of Romania, many Romanian food producers had the opportunity to export to Germany or Sweden.
Another type of involvement is the economic forums organised in Romania and the Republic of Moldova. Cluj has hosted some of the most important such events and has benefited greatly from this type of support. In the Republic of Moldova, such events have been organised in Chișinău, Bălți and other cities, and the concrete results are very encouraging. There are companies in fields such as software production, architecture or hardware that have already invested in Bessarabia or have announced their firm intention to expand there. These investments are much needed to support Moldova’s economy, in a context where these investments also mean a firm commitment to the European path of the state between Prut and Nistru.
In fact, in February 2023, when many people feared possible unrest in Chișinău, the most important economic event marking the debut of Moldova’s new government was held at Digital Park. The Economic Forum in Chișinău was organised at the initiative of His Royal Highness Prince Radu of Romania, with the support of InvestMoldova Agency, StarNet Group, Tracom Industrial Park, Association of Industrial Parks of the Republic of Moldova and the Romanian Embassy in the Republic of Moldova.
Following the economic events organised under the auspices of the Royal Family in Romania, the Republic of Moldova, Germany, Poland and Jordan, a real business club has also emerged, based on the ethical and moral values that have governed the work of the Dynasty since 1866.
This club is called the International Business Society and currently has two branches: the Transylvania Royal Club in Cluj and the Moldova Royal Club in Chișinău. It is an organisation open to all representatives of the business, academic and public sectors, which functions as a cluster that brings together people who share the same values and principles and who appreciate the way in which the members of the Royal Family of Romania support and promote the development of the economy and cooperation between those who have understood that at the heart of business activity must be people, not profit at any cost.
