ECO-BUS WEEKLY DIGEST June 1-7. Most important Economy & Business news by IPN

● MONDAY, June 1

Central Market of Chisinau resumes work

The Central Market reopened at 8am on June 1 and will work until 6pm. The vehicles’ access to the market is allowed between 6pm and 8am. Some 70% of the traders resumed work and the main rules are maintaining of physical distance between trading places (at least 2 meters) and between visitors, buyers and business entities (at least 1 meter), the market’s acting director Ion Pîntea has told. The stalls were relocated and the positioning of trading places is strictly monitored. “Before the pandemic, there were by two-three sellers at a table. Now there is only one seller at a table so that the distance of 2 meters is respected,” said the acting director of the market. Ion Pîntea noted that each trader has a sanitizing solution at the selling place and the buyers can use it at request. The traders have masks and also gloves, if necessary.

● TUESDAY, June 2

Over half of winter crops affected by drought

The drought affected about 60% of the field winter crops, as the preliminary local data collected by the Ministry of Agriculture, Regional Development and Environment show. Even if the wheat harvest will be lower, the authorities assure the country’s food security is not in danger. Minister of Agriculture Ion Perju has told that they continue to receive data from the local level and six-seven districts are yet to furnish information. The assessment process was extended also due to the rain, which is surely welcome. Ion Perju noted that practically all the fields were stricken, but this does not mean that there will be no crop. They say the crop is compromised when a producer plans to collect 3 tonnes, but will not gather even 1 tonne per hectare. The situation now is different.

● WEDNESDAY, June 3

SMEs invited to apply to ecologization program

The Organization for the Development of the SME Sector (ODIMM) has launched the National Program for the Ecologization of Small and Medium-Sized Enterprises by which the state aims to support the ecologization of about 150 SMEs that provide high- and low-value services until 2020. Consequently, the companies will become more environmentally-friendly and more competitive on the domestic and foreign markets, as the authorities anticipate. In an online event to launch the program, ODIMM director general Iulia Costin said the program aims to convince the SMEs of the positive effects of ecologization and to show that by implementing high-quality standards or greening technologies, they will only gain as the competitiveness of products will grow. As part of the same program, there will be created a network of national consultants who will offer support to the SMEs in the ecologization process. Iulia Costin is sure that after the ecologization plan is implemented, new business opportunities for companies will appear, the management system will improve, the efficiency of the use of resources and, as a result, competitiveness will increase and internationalization opportunities will appear.

Government to negotiate €70m loan with CEB

The Government and the Council of Europe Development Bank (CEB) will negotiate a €70 million loan. The first component of the lending agreement refers to the healthcare sector, while the second envisions support for micro, small and medium-sized enterprises. The initiation of negotiations on the draft framework lending agreement was approved by the Cabinet on June 3. The head of the delegation of negotiators, Deputy Prime Minister Serghei Pușcuța said the CEB offers flexible and swift financing to the member states for strengthening the public healthcare sector and alleviating the socioeconomic impact of the COVID-19 pandemic.

Regular flights to be resumed June 15

The regular passenger and charter flights are resumed on June 15. A decision to this effect was taken by the National Extraordinary Commission for Public Health. Under the Commission’s decision, the Chisinau International Airport is to take measures to prevent the infection with COVID-19 among passengers and employees, in arrival and departure halls, will ensure the taking of temperature, will supply personal protective equipment and disinfectants. A condition is to ensure social distancing. The rooms and installations in the terminal will be disinfected.

● THURSDAY, June 4

Siegfried Mureșan: Moldova will get European funds for economic recovery

The Republic of Moldova will benefit from support from the European Union in overcoming the economic crisis caused by the COVDI-19 pandemic. Moreover, starting with next year, the EU could allocate a much larger sum than €750 million from the community budget for the next years, stated Romanian MEP Siegfried Mureșan, who heads the European Parliament’s Delegation to the EU – Moldova Parliamentary Association Committee. “The European Commission last week proposed a €750 billion economic stimulus plan, intended especially for the EU member states. But I tell you that a part of this money will also go to the Eastern neighbors of the European Union. We do not yet have the exact sum, the total sum, but European funds for economic recovery following the COVID-19 pandemic in the Republic of Moldova will come starting with January 1, 2021,” IPN quoted the Romanian MEP as saying.

Wizz Air extends suspension period for operations from Moldova

Wizz Air said that owing to the extension of the travel restrictions imposed on all external flights to and from the Republic of Moldova, it decided to extend the suspension period for its flights to and from the Republic of Moldova until June 14 inclusive. The clients will automatically receive 120% of the amount paid for the trip in the WIZZ client account. The sum can be used during the next 24 months to purchase Wizz Air products and services. The passengers can choose to be paid the money back, but the process will last longer. They will be informed about the steps that need to be taken for a bank transfer or a transfer to a bank card by a separate email. In this case, the clients could receive 100% of the initially paid sum. The passengers who made reservations through travel agencies, including online ones, must contact the agency from where they bought the ticket, the airline said in a press release.

NBM examines several requests to be allowed to acquire controlling interests in banks

The National Bank of Moldova (NBM) is considering several requests to give the preliminary consent for the purchase of a qualifying holding in banks. The persons who made the requests intend to acquire controlling interests in particular banks, NBM governor Octavian Armașu stated in an interview conducted based on questions put by the press following a relevant request made by the central bank. “As a result of the significant reforms done during the past few years in the banking system, particular interest in investing in the capital of banks of the Republic of Moldova has been expressed. The intention to purchase bank shares in the amount that reach and exceed a qualifying holding (of 1% of the share capital of banks) was announced by a number of investors, private individuals and legal entities, both financial investors (with investments in different areas) and strategic investors (whose main businesses are in the financial sector), including banks,” stated Octavian Armașu.

● FRIDAY, June 5

Foreign exchange reserves US$13.4m up

The official foreign exchange reserves on May 29 came to US$3.136 billion, up US$13.41 million compared with April 30, 2020. According to the bank, the foreign exchange reserves increased after purchases of foreign currency to the value of US$10m were made on the domestic currency market. Also, the exchange rates of the currencies that form part of the reserves appreciated against the US dollar (US$6.21m). The net inflows related to the mandatory reserves in foreign currency of licensed b banks also contributed (US$4.02m). The official foreign exchange reserves also rose due to the registration of loans and grants in favor of the Ministry of Finance for investment projects (US$3.40m), the revenues from managing the foreign exchange reserves (US$2.78m) and net inflows of US$ 0.65 million in the account of the Credit Line Directorate.