British MP says Moldova cannot rely only on remittances

Moldova can not survive as a nation just relying on funds wired from the citizens working abroad or on the money provided by international organizations, the British MP, Bruce George declared during his stay in Moldova. According to the official, the business community must collaborate with the Government in order to develop the industrial sector, because the present level of the industry, agriculture and trade can not satisfy population’s necessities. “Better life standards can be obtained only in light of a development strategy for new industries”, the British MP declared, mentioning that Moldova regressed a lot in the industrial field because many enterprises are located in Transnistria. In order to elaborate an industrial strategy, the Government must develop its competences by collaborating with the EU and other foreign partners and the strategic objectives must include encouraging investments which will lead to the development of the country. The official said that the business community of Moldova must be insistent in its relationship with the Government in light of attracting foreign capital, even if “economic nationalists and former communists will be absolutely frustrated of the idea that the German or American capital will come to Moldova”. At the same time, the Government must be intelligent enough to develop a constructive relationship with the business environment, the British MP, Bruce George declared, cited by Info-Prim Neo. According to the data of the National Bank, Moldovans who work abroad transferred USD 435.13 mln only via banks in the first seven month of 2006. At the same time, the international financial bodies estimate that the unofficial transfers are about a half of the officially remitted sum. In this way the total remittances from abroad in January-July amount to USD 650 mln. This year’s transfers through the banking system could oscillate between USD 800 and 900 mln, compared with USD 683 mln in 2005, and the total transfers, including unofficial ones could reach the level of USD 1.2-1.35 bln.

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