The entrepreneurs in the Republic of Moldova receive support from funders to launch start-ups and develop their businesses, deputy chairman of the Chamber of Commerce and Industry (CCI) Mihai Bîlba stated in a public debate hosted by IPN News Agency. According to him, through the “EU4Business: Connecting Companies” Project alone, more than 150 business associations and entrepreneurs of the Republic of Moldova benefited from funds for business expansion.

The CCI official explained that thanks to the support provided by foreign partners, the entrepreneurs in Moldova benefit from funds and consultancy. Also, there is a connection between the companies operating in Moldova and the diaspora for the promotion of domestic products abroad.

“We are glad that the people who gain experience in the European Union return to the country and invest in businesses. I know that at the beginning it is difficult, but in the Republic of Moldova we currently have different programs to support small and medium-sized enterprises, to which entrepreneurs can apply and obtain financing or co-financing for their businesses. It goes also to startups, when the company is founded, until the company is well on its feet and can obtain financing and support for exports. Within the Diaspora Business Forum, the Chamber of Commerce and Industry was responsible for organizing bilateral meetings between economic agents from the Republic of Moldova and people from the diaspora who want to promote products made in the Republic of Moldova. We saw the closeness between companies and individuals and legal entities from abroad, which have experience, knowledge and can promote the products,” stated Mihai Bîlba.

Thanks to the “EU4Business: Connecting Companies” Project, hundreds of business associations received funding. Since its launch, the given project has aimed to promote trade between EU Member States and the six Eastern Partnership countries, focusing in particular on five sectors of economic activity with significant potential for export growth: organic food, creative industries, textiles, tourism and winemaking.

“The “EU4Business: Connecting Companies” Project is at its final stages. In October, we will organize the final conference for which the beneficiary companies of this project already started to register. There will be over 100 people, from different countries. It is a very important event. Representatives of well-known companies, business support organizations, the Association of European Chambers will be present. We provided about €60,000 in grant funding for consortia created by a business support organization of the Republic of Moldova and another one of the EU or even of the Eastern Partnership. About 150-160 business associations or enterprises were the final beneficiaries of this project,” said Mihai Bîlba.

The CCI deputy chairman explained that owing to the combination of forces, companies manage to increase their productivity. Following the model of the European Union, the formation of clusters by entrepreneurs has become increasingly popular.

“Within the project financed by the Government of Japan through UNDP, we helped economic agents to become members of clusters. That is companies came together to lobby for their interests. Fact-finding visits were also organized to learn from the experience of the European Union. Within a cluster, companies have the opportunity to discuss, to lobby for their interests, including if it goes to the purchase of machinery, so that there is greater added value. A few years ago, it was very hard to convince companies to form associations, to apply to particular projects, but now, after learning from the experience in the European Union, things moved,” said the deputy chairman of the Chamber of Commerce and Industry.

The public debate entitled “EU4Business Initiative, contributions to the development of small and medium-sized enterprises in the Republic of Moldova” was the eighth installment of the project “Benefits of the Republic of Moldova’s accession to the EU for people, community and country”. The project is supported by Soros Foundation Moldova.