INVESTING IN ROMANIA: GRUIA DUFAUT, THE LEGAL ARCHITECT FOR FRENCH BUSINESSES

(English version of the article published in Le Figaro on 28 April 2026).

Since 1991, the law firm Gruia Dufaut & Associés has been assisting leading French companies in their expansion into the Romanian market. Between pioneering heritage, bicultural expertise and sovereignty issues, Dana Gruia Dufaut, Partner, Honorary Member of the Paris Bar and lawyer at the Bucharest Bar, and Teodora Koletsis, Partner, member of the Bucharest and Paris Bars, analyze Romania’s evolution, a country that has become a key industrial player in Eastern Europe.

"People no longer come to Romania by default or for low production costs; they come there strategically and to develop high level operations over the long term."

Dana Gruia Dufaut's observations reflect a deep transformation of the country. Coming to Bucharest in the aftermath of the fall of the Berlin Wall and the communist regime, while the country was rebuilding its legal and institutional framework, Dana was a privileged witness to this profound transformation.

Today, with more than 4,000 companies with French capital, including 38 CAC 40 companies, Romania is one of France's major economic partners in Central and Eastern Europe. Builder's Legacy:

A Builder’s Legacy: The Origins of a Franco-Romanian Legal Bridge

In 1991, everything needed rebuilding. The transition from a planned economy to a market economy is not free of uncertainty. Dana Gruia Dufaut recalls this period when the first thing to do was to reassure the investors: “We had to navigate a system under reconstruction, where rules were evolving rapidly and the law was still struggling to gain its place as benchmark. Convincing groups like Orange or Saint-Gobain required more than just the expertise of a business lawyer in Romania; it required an ability to decipher cultural differences and a strong belief that this bridge between our two nations was worth building.”

Thirty-five years later, this twofold legal culture is the firm's DNA. Rooted in both the French and Romanian legal systems, it relies on a generational continuity that defines its identity. This culture is now carried forward by Teodora Koletsis, partner and lawyer, member of the Bucharest and Paris Bars, who represents the new generation of bicultural lawyers. It is also carried forward by the firm's team of lawyers, many of whom have received dual training in Romanian and French law via classes at the Franco-Romanian College of Legal Studies. "Joining the Paris Bar was a natural choice for me. To handle complex cross-investment cases, genuine legal interoperability is essential. The similarity of the civil law systems facilitates understanding. But the law is not limited to the texts. It is played out in its application. We speak the same language as our clients: the language of security, predictability, and operational efficiency," says Teodora Koletsis.

Furthermore, Dana Gruia Dufaut emphasizes that the business law market today is characterized by an ultra-segmented approach: taxation on one side, cybersecurity on the other. Our approach is different. We orchestrate these areas of expertise to offer a comprehensive solution. “A multinational doesn’t need ten separate opinions. It needs a structured, coherent, and actionable analysis.” At Gruia Dufaut, skills are brought together around the client with a single objective: to deliver a unique, robust solution able to secure investors’ decisions from a legal perspective.

Tax Stability: The Key to Investor Confidence

In a political environment sometimes criticized for its internal tensions and within an unstable European context, predictability has become a central issue. In this context, Gruia Dufaut law firm positions as a key resource for economic decision-makers. Teodora Koletsis's analysis is unambiguous: "What investors fear is not so much the political color of a government, but rather legislative unpredictability."

In Romania, the central issue remains tax and regulatory stability. Managers must be able to plan their investments over the long term, without fearing a sudden change in the rules of the game. "The law is a structuring tool. It secures decisions and mitigates uncertainty. The law is not only a constraint; it is the foundation of trust. Therefore, our role is to transform this complexity into a clear and protective framework for investors." This requirement for predictability directly contributes to the country's attractiveness in high value-added sectors, such as energy, health, aeronautics or defense.

Romania, industrial hub and stake for European sovereignty

The Romanian economic model has undergone a deep transformation. Long dominated by labor-intensive activities, the country is now establishing itself as a key player in European industrial value chains. Its location, between the Black Sea, the Danube, and energy corridors, imparts Romania a structuring role. This geostrategic advantage is complemented by a consolidating ecosystem driven by engineering, research and development centers, and the quality of its talents. According to Dana Gruia Dufaut, all these factors turn Romania into a strategic destination for investors, offering numerous business opportunities and standing out as "one of the industrial engines of Eastern Europe."

Faced with competition from Poland and the Czech Republic, Romania also possesses an intangible asset: a long-standing cultural and linguistic affinity with France. "There is a strong cultural proximity, but it must be underpinned by impeccable legal security. The law supports this strategic repositioning by securing technology transfers and long-term industrial investments," emphasizes Dana Gruia Dufaut.

Beyond Appearances: The Voice of French Citizens

Abroad Dana Gruia Dufaut, also an Advisor to French Citizens Abroad and President of the Consular Council, invites us to look beyond certain simplistic perceptions. "We mustn't be misled by appearances or oversimplifications." In 2026, Romania is a dynamic country, firmly rooted in the European project and attractive to both talent and investors. Her institutional commitment allows her to remain connected to the daily realities of expatriates, complementing her macroeconomic perspective as a business lawyer.

An Unwavering Passion for Practicality

Recently honored by the Paris Bar Association for her career, Dana Gruia Dufaut views her honorary status not as an end point, but as a steppingstone. Her motivation remains rooted in the tangible. “What motivates me after all these years is to see an idea becoming a factory, an abstract project becoming a tangible industrial success. I must also confess that after 35 years, passion no longer stems from legal texts, but from people. Supporting investors in Romania is anything but abstract. It involves journeys, decisions, and stories. Women and men I have worked with, some of whom have become friends. This human dimension is at the heart of our profession. It is also reflected in the firm. Some collaborators have been with us for over 20 years. This loyalty reflects a strong team culture and a lasting commitment.”

Alongside her partners, including Teodora Koletsis, who now represents the firm in Paris, Dana Gruia Dufaut is driving the firm's development with a focus on continuity and leveraging Franco-Romanian expertise. Together, they support companies that are leveraging the Paris-Bucharest axis as a genuine engine of growth. For them, the role of the law firm Gruia Dufaut & Associés extends beyond simply providing legal advice: it means supporting investment strategies and, more broadly, contributing, case by case, to European growth. As Teodora Koletsis concludes: "We support European trajectories, and the best is yet to come."