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Prophile of an entrepreneur in Romania
Born on May 19, 1938 in Bazargic - Romania, from a family of teachers, married, two sons, George Constantin Paunescu graduated the theoretical high school, the Academy of Economical Sciences and become Doctor in Economical Sciences, Economical International Relations.
When finishing his economical training, he joined as a specialist the foreign trade state owned company “TEHNO-IMPORT-EXPORT” from where he was assigned in 1973 to represent the interests of the Romanian industrial group in the speciality trucks, cars, tractors, machinery and equipment in chemistry and oil industry, industry of mechanical and thermo-preparation of the metal, in Italy, at the Romanian commercial office from Milan. He worked with the commercial office until September, 1981.
During the activity carried in Italy, he achieved three actions of industrial and financial co-operation between the industrial group of Brasov that he represented in Italy, and the group FIAT - Torino.
The importance of this co-operation reside in achieving in Romania the modernisation of the product and manufacturing technologies in the area of tractors on wheels, caterpillars, and in the industry of manufacturing of thermal motors. These actions lead to the achieving of a turn over of over 130,000,000 USD yearly, with a high level of efficiency between 18 - 22% yearly.
In achieving of the said cooperation a main factor was the industrial and financial co-operation negotiated during 1962 - 1964 and concluded in the Fall of 1964, between TEHNO-IMPORT-EXPORT, the Romanian Group of Optical Industry on one hand, and the German Group of Optical Industry “CARLZEISS - JENA” on the other hand.
He achieved while acting in Italy, an operation for modernisation of the control of the technological process of the blast furnace at the biggest syderurgical complex of those time in Europe, by introducing the control of the walls of the blast furnace with radioactive isotopes. This procedure discovered by a physicist working with Bucharest Institute of Nuclear Energy, was marketed and sold in Italy by George Constantin Paunescu.
While operating in Italy, he achieved a line of assembling land rovers with a program of thousands of units per year. He ensured through his activity the introducing on the Italian market of equipment and components for refineries, equipment and machinery for railways, metal processing industry and for other products of Romanian origin and manufactured in Romania.
Following the finalisation of his economical training by joining TEHNO-IMPORT-EXPORT in the activity of foreign trade, gaining experience as result of the various objectives achieved during his activity in Italy, George Constantin Paunescu subsequently succeeded to gain the necessary insight knowledge that made him qualified for the position of general manager of the Romanian foreign trade company Universal Tractor Brasov, company that operates in the area of export and import of trucks, tractors and caterpillars, equipment and machinery for agriculture. The company achieved also the objectives of industrial and financial co-operation with the aim and in view of ensuring the presence on the international markets, either through direct exports of final products, or through realising plants for assembly and production locally in various countries, of tractors, equipment for agriculture and trucks.
In his new position George Constantin Paunescu developed the following activities: - the industrial and financial projects achieved jointly with FIAT and the local partner in the manufacturing of tractors from Canada, Italy, Pakistan, Portugal, Egypt, Iran, China, Russia, Ukraine, Bellarus, Moldova, Turkey, Yugoslavia (the today Serbia) and Czechoslovakia (the today Czech Republic) and others.
At the same time, the insight knowledge gained allowed him to be remarked and selected by the Romanian executive authorities to work at major projects within the Romanian economical activity, and was appointed general manager of the Ist Direction of the Ministry of Foreign Trade, Direction that ensured the licences for import-export and finally the activities with maximum efficiency in barter area, in discounting area and in area of buying of the financial obligations area born and raised between contract entities of Romanian origin or foreign origin, or between contract entities holding these relationships and financial obligations of another origin than Romania, so, entities belonging to other states. George Constantin Paunescu participated as intermediary between said entities, in the meaning of achieving the financial operations without investment of capital, but only from intermediations.
These achieved operations imposed George Constantin Paunescu towards the authorities of that time, these authorities assigning him major responsibilities in co-ordination of some industrial and financial projects, or merely financial projects.
Among the industrial and financial projects he was in charge with there were:
» in the aeronautics industry: purchasing of aircraft for the Romanian transportation industry
» in the nuclear area: building of nuclear plants in Romania
» in the cement industry: achieving of projects in the area of cement plants in Romania and abroad
» in the oil industry: achieving of some refineries projects and in the petrochemical industry, in Romania and abroad
» in the financial area: establishing of the cash flow program of the Romanian economy, achieving on this occasion various feasibility studies (economical, industrial and financial) with impact in the local economy and in the economy of the countries in the region, as well as f the other states outside the region (Black Sea Region, Caspian Sea Region, Central and Eastern Europe Region)
The feasibility studies he achieved, imposed George Constantin Paunescu as a specialist in his domain of activity, gaining insight knowledge in what concerns the economical potential of Romania, of the countries within the region, as well as the opportunities the region may offer, as well as the bilateral and multilateral relationships of Romania and the states within the region with other states.
George Constantin Paunescu is President of THE GENERAL UNION OF THE INDUSTRIALISTS FROM ROMANIA, the important, representative of industrialists in the country.
George Constantin Paunescu received various awards and diplomas by which is certified his experience in domain of activity:
» Nominated by the European Association of the International Business and Management, in 1995 and in 1996, as The Best Manager of Balkans.
» For the results obtained in promoting and developing the economic exchanges with European companies, received in 1992 and 1993, the EUROMARKET AWARD and in 1995 the SPECIAL REWARD granted by Euromarket Research Center - Brussels.
» Nominated in 1996 as Man of the Year for Honouring Community Service and Professional Achievement by the American Biographical Institute.
» Received in 1996 the Certificate of Merit for Distinguished Service from International Biographical Centre, Cambridge, England.
» Nominated as International Man of the Year 1997-1998 by the International Biographical Centre, Cambridge, England.
» Included in the Dictionary of International Biography - 1997 - twenty fifth edition - International Biographical Centre, Cambridge, England - at page. 309.
George C. Paunescu developed intense activity also in the theoretical area of economy, lecturing for the students of Economical Studies Academy, or participating at various conferences and symposiums in Romania and abroad, presenting various scientific works with economic subject.
Further to the dramatic changes in Romania after December 1989, George C. Paunescu quit as a state official and even in 1990 start business projects on his own, building the main powerful economic group within Romania, consequently being recognised as a leader of the business community in Romania and in region. It is significant in this respect the awards granted to him in 1995 and 1996 by European Association of the International Business and Management as “The Best Manager in Balkans” .
The Group built by George Constantin Paunescu was based on the concept of building opportunities and a structure to gain the interest of the investors, exquisite opportunities to gain the interest of the investors world-wide in various areas of activity.
George C. Paunescu is a founder of the Securities Market in Romania. He organised the dealing system with the financial and logistic support of USAID. Analysing the existent systems on the market, he decided to implement in Romania the Nasdaq system - building the Romanian system RASDAQ.
He built within the Group a structure that is composed from the functions of a system of securities market: broker system, system of deposing and discounting, system of registration, by departments specific to this functions.
The whole system is based on a project that is now in process of implementation and development on the entire Romanian teritory and has as final objective achieving of 1,800 contact points with aprox. 30,000 agents qualified for specific operations.
George Constantin Paunescu is leader of the entrepreneurs in the banking area, hotels and tourism industry, real-estate and others. As result of the activity carried on, George Constantin Paunescu created a series of opportunities in the banking area, in the area of financial services and insurance, in the hotels and tourism industry, real-estate, agriculture and food industry, oil industry,
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