International Business Machines Corporation (IBM) Romania will receive a state-funded investment from the Romanian government. IBM is the biggest technology services firm in the world. The state fund was valued at Eur21 million according to a report by the daily paper, Zairul Financiar, on Monday.
According to the state's Finance Ministry, the investment was given to IBM Romania as the government aims for the development of information technology in the country. A project on IT consultancy was already initiated by the company in Brasov and Bucharest. Furthermore, the Finance Ministry added that under the Romanian law, state investments should be given to companies that generate jobs for its country's citizens. The total worth of the project was approximated to be more than Eur51 million.
IBM is headquartered in Armonk, New York. It is also among the few technology firms that have a rich history that can be traced back to the 19th century. IBM Romania is among its other global affiliates.
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