ECO-BUS WEEKLY DIGEST September 16-22. Most important Economy & Business news by IPN

● MONDAY, September 16

Investors do not come to Moldova because of instability, Forum

The legislation of the Republic of Moldova is adjusted to European practices, but there are deficiencies in its implementation. Justice reform could increase investment attractiveness of the Republic of Moldova. Opinions in this regard have been stated at the Economic Press Forum, organized by the Economic Press Club, in connection with 100- day activity of the new Government, Ana Groza, executive director of the Association of Foreign Investors, says that businessmen expect real reforms from the Government, with tangible results, and justice reform is the most expected. Members of the Association proposed the Government to create a special commission of development partners, that will initiate the evaluation process of judges and prosecutors.

● TUESDAY, September 17

There are reasons to terminate the Airport concession contract, report

The entire process, as well as the concession contract of Chisinau International Airport, have been affected by conditions of nullity. The seriousness of the flagrant violation of the law results also from the decision by which the Government decided to organize a closed tender, while the law says that it must be public. At the same time, the non-performance of contractual obligations by the concessionaire or the breach of contractual obligations provide the possibility of terminating the concession contract. The conclusions can be found in the preliminary report presented on Tuesday, September 17, at the meeting of the Parliamentary Committee of Inquiry for the analysis of the organization and conduct of the privatization and the concession of public property during the years 2013-2019.

● WEDNESDAY, September 18

Moldtelecom had practices that harmed the company, APP director

The audit carried out at Moldtelecom company highlighted several vicious practices, which directly affected the financial results of the company. The statement belongs to the director of the Public Property Agency (APP), Eugeniu Moraru. At a press conference held on September 18, the APP director pointed out that Moldtelecom promoted certain economic agents and made unjustified payments. "Under a contract concluded in April 2013 with a foreign investment company regarding the organization, operation, administration and maintenance of the Number Portability database, Moldtelecom paid 110 million lei for practically non-existent services," declared Eugeniu Moraru.

Parliamentary committee holds hearings regarding harvest of apples and grapes

The price proposed by factories to apple producers for one kilogram of apples depends on the logistical costs and the delivered quantities. This fact explains the price difference in different regions of the country. The topic was discussed today, September 18, during public parliamentary committee hearings. The Minister of Agriculture, Regional Development and Environment, Georgeta Mincu, said that, according to the information at her disposal, the producers stopped delivering apples to factories. There are only four processing companies in the country and their capacity is reduced. As for exports, apples are delivered to over 30 countries.

MPs want a "law on banning offshore"

MPs propose to pass a "law on banning offshore". The provisions establish restrictions for participation in privatization procedures, public-private partnerships, public procurement and concessions of works and services for legal entities founded by subjects from jurisdictions that do not meet international transparency standards. Restrictions also apply to legal entities which include, directly or indirectly, persons registered or residing in such jurisdictions. The draft was reviewed by the Committee for Economy, Budget and Finance, IPN reports.

● THURSDAY, September 19

BNM: Moldovan banks are open to cooperate with economic agents from Transnistrian region

The banks licensed in Moldova are open to cooperate with the economic agents from the Transnistrian region. The statement was made by the deputy governor of the National Bank of Moldova, Ion Sturzu, at a task subgroup meeting at the headquarters of the OSCE Mission in Tiraspol, on Monday, September 16. According to a BNM press release, the official said that banks treat their customers fairly and that the only requirement is compliance with the law.

4000 trademarks are fighting for "best known trademark" title

About 4000 trademarks participate in the national competition of the best known brands in the Republic of Moldova. Marian Bunescu, the director of the intellectual property company INTELSTART LTD, contest organizer, stated in a press conference that the fourth edition of the contest is held this year. "The purpose of the contest is to identify the most recognized brands by the public, through an online vote", said Marian Bunescu, who added that the brands can be voted on the website notorium.md. The voting period started on September 9 and will end on October 11.

Moldova and Russia intend to take action to remove trade barriers

The intention to take substantial action in order to remove trade barriers and to create favorable conditions in this regard was confirmed at the meeting of the Moldovan-Russian Intergovernmental Commission, which met on September 18 and 19 in Chișinău. "The senior officials of the ministries, departments and other executive bodies from the Republic of Moldova and the Russian Federation participated in committee meetings, while relevant experts from Tiraspol were part of the Moldovan delegation", said a Ministry of Economy and Infrastructure press release.

● FRIDAY, September 20

NBM asks licensed banks to test custody services for safekeeping clients' assets

Verification and testing of depositors' custody services, as well as informing clients about the risks involved – is the request that the National Bank of Moldova has sent to the licensed banks. NBM press release states that the request is aimed at preventing risks. "The verifications shall be completed on October 22, 2019, after which, within a maximum 30 working days, banks will have to present the results to the NBM, but also a plan of measures to eliminate the identified deficiencies," the statement said.

Results of partnership with World Bank discussed at JSC "Termoelectrica"

The progress made by JSC "Termoelectrica" in the Project for Improving the Efficiency of the Centralized Power Supply System has been evaluated positively by a team of World Bank experts.The country manager for the Republic of Moldova, Anna Akhalkatsi, the country program coordinator for Belarus, Moldova and Ukraine, Anthony Gaeta, the manager for efficient development in Europe and Central Asia, Sugharshan Canagarajah, and the head of the SACET Efficiency Improvement Project, Sandu Ghidirim, formed the World Bank delegation.

Moldovagaz has a new Board of Observers

The extraordinary general meeting of the shareholders of "Moldovagaz" JSC has elected today, September 20, the new composition of the Board of Observers. These are Elena Burmistrova, Serghei Kuzneț, Victor Valov, Ghenadie Abașchin, Adrian Lupușor and Călin Negură. According to a Moldovagaz press release, during the first meeting of the Board of Observers, Elena Burmistrova has been elected as chairperson, and Adrian Lupușor – as deputy chairman.

● SATURDAY, September 21

Igor Dodon: There is a total revival of relations between Moldova and Russia

"At present, the relaunch of relations between Moldova and Russia is fully underway, the dialogue at Government and Parliament level is being restored." The statement belongs to President Igor Dodon and was made at the Moldovan-Russian Economic Forum, which is being held these days in Chisinau. The head of state attended the event, together with the Speaker of Parliament, Zinaida Greceanii, and the special representative of the President of the Russian Federation for the development of trade and economic relations with the Republic of Moldova, Deputy Prime Minister Dmitri Kozak. According to the president, the event demonstrates that, at the level of the leadership of the two countries, it is clear that one should proceed further.