Former Massachusetts governor Mitt Romney officiallydeclared his intentions to run for the 2008Republican presidentialnomination,saying on Tuesday his success in the corporate world will help him look at Washington with fresh eyes.

"I declare my intention to run for president of the United States," said Romney from the Henry Ford Museum in Dearborn, Mich.

A former venture capitalist with a single term as governor of Massachusetts, Romney is hoping to convince voters that his record of success in both the private and public sectors proves he can tackle the "transformation" of government.

"I do not believe Washington can be transformed from within by a lifelong politician," said Romney.

"There have been too many deals, too many favours, too many entanglements— and too little real world experience managing, guiding, leading.

"We have lost faith in government, not in just one party, not in just one house, but in government. It is time for innovation and transformation in Washington. It is what our country needs. It is what our people deserve."

The 59-year-old Romney, a Mormon, was elected state governor in 2002 after stepping in to save the scandal-plagued Winter Olympics in Salt Lake City, Utah.

Other declared GOP candidates include Kansas Senator Sam Brownback and California Republican Duncan Hunter.

Former New York mayor Rudy Giuliani and2000 presidential candidate John McCain, who haven't yet officially declared their intentions to run, are considered frontrunners.

With files from the Associated Press