ECO-BUS WEEKLY DIGEST November 16-22. Most important Economy & Business news by IPN
● WEDNESDAY, November 18
Airline resumes flights to Moldova Nov. 20
On November 20, the airline Fly One resumes direct flight from Chisinau to Moscow and from Moscow to Chisinau. The flights will be operated two times a week, on Monday and Friday. The timetable is as follows: Chisinau (KIV) 10am – Moscow (VKO) 1pm and Moscow (VKO) 2pm – Chisinau (KIV) 3pm. According to the operator, tickets cost €49 and up and are available from the company’s website and partner agencies. The airline warns that under the Russian Government’s decision of March 16, concerning the temporary restrictions on entry into Russia, the state border can be crossed only by particular groups of citizens.
Accounts of IT companies sequestrated again
The Chisinau Appeals Court accepted the appeal filed by the Anticorruption Prosecutor’s Office, annulling the ordinary court’s decision by which the bank accounts of “Bass-Systems” SRL (currently “S&T IT Services”), were freed from lien. According to the Prosecutor General’s Office, the company’s accounts with over 50 million lei and its share capital were sequestrated following criminal proceedings over money laundering instituted in October 2019 in the eventuality of special confiscation of the crime assets.
Tourists at 22% of figures for corresponding period last year
The collective tourist accommodation facilities in January – September were visited by 66,200 tourists, which is 22.1% of the figures for the corresponding period last year. Of all the tourists, 43,000 were resident tourists, while 23,200 were non-resident ones. According to the National Bureau of Statistics, the number of accommodated tourists declined due to the lower number of persons who stayed at summer camps, accommodation facilities, hotels and motels, tourist pensions or homes for visitors. The accommodated tourists came from the following countries: Romania (31.6%), Ukraine (14.2%), Russia (9.4%), Italy (5.0%), Turkey (4.9%), the U.S. (4.0%).
Allocations for farmers who keep cattle, sheep and goats
The farmers who keep cattle, sheep and goats will benefit from direct financial support from the state for each animal. This is provided in the regulations on the allocation of payments that were approved by the Cabinet on November 18, IPN reports. Those who keep cows of specialized breeds will get by 7,000 lei per animal, the owners of sheep and goats of specialized breeds - by 500 lei per animal, while for purebred animals the direct payment will represent 50%.
● THURSDAY, November 19
MPs adopt bill to strengthen integrity of NBM
The MPs gave a second reading to a bill to strengthen the integrity and finality of the monetary policy, bank regulation and surveillance decisions of the National Bank of Moldova (NBM). The main provisions of the law envision criminal liability for damage caused by illegal administrative acts of the BNM and stipulate the mechanism for determining the extent of the caused damage, the method of holding the members of the Bank’s administration bodies accountable. The bill provides for the amendment of a number of legislative acts, namely the Law on the National Bank of Moldova, the Penal Code, the Penal Procedure Code, the Civil Procedure Code, the Law on Bank Recovery and Resolution and the Law on Bank Activity.
PM at Moldova Business Week: Moldova can be a good destination for investments
The Republic of Moldova is strongly connected to the international economic circuit and its economic prospects depend on what will happen to the regional economy and the world economy. It’s yet certain that Moldova has very good positions as regards the macroeconomic stability, despite all the impressions left by politicians. Moldova has a stable banking state, does not experience currency shocks, does not have problems with the state debt and the budgetary system. “In the current conditions, this is also an indicator and a criterion that can be considered by investors when they choose a destination. In general, we are now a country that can be a good destination for investments, both from macro-economic viewpoint and from the viewpoint of the multiple free trade agreements, with the EU, the CIS and other parties,” Prime Minister Ion Chicu stated in the Moldova Business Week.
Parliament ratifies lending agreement for optimizing heating
The legislative body ratified the agreement on the lending by the International Bank for Reconstruction and Development of €92 million for improving the efficiency of the centralized heating system in the municipality of Chisinau. “The implementation of this project will contribute to the reliable supply of heat, especially to end-users in the municipality of Chisinau. There will also be made pilot energy efficiency investments that will contribute to improving the quality of heating services and to reducing energy consumption in the given buildings, which will have a positive social impact,” says the informative note to the bill.
Mediation Center of Chamber of Commerce and Industry opened after renovation
The Mediation Center of the Chamber of Commerce and Industry was opened after renovation in the framework of the Moldova Commercial Mediation and Arbitration Project launched by the International Development Law Organization and the European Bank for Reconstruction and Development. The Center’s director Dumitru Lefter noted that the new infrastructure will enable to launch important commercial mediation or training services. The Center’s mediators are trained in the country and abroad and some of them are accredited as trainers. Chamber of Commerce and Industry president Sergiu Harea said the opening of the Center is important for the business community. It’s good that by alternative dispute resolution methods, the national business environment will be developed. During the last few years, the mediators proved that they can help resolve disputes during a short period of time. The continuous training of mediators will enable to ensure mediation, including outside the country.
● FRIDAY, November 20
100 older persons to learn to use mobile phone as part of project
According to the Active Aging Index, only 3% of the older persons in the Republic of Moldova use information technology, while in the EU member states this index stands at over 41%. The lack of knowledge and the limited possibilities of buying and using mobile phones more seriously affected the older persons in Moldova during the pandemic and these suffer a lot because of social isolation. To fill this information gap, Moldcell Foundation and UNFPA signed a cooperation agreement on the digital inclusion of older persons through dialogue between generations. More exactly, the young people will become involved in the process of training older persons to use mobile phones. In a press release, UNFPA Moldova says that in the frameworks of the project that is implemented in cooperation with the UN Human Rights Office and HelpAge International, more than 100 older persons from Șoldănești, Rezina, Basarabeasca and Leova will receive mobile phones free and will learn to use them with the assistance of a group of young volunteers.
Bill to create optional pension funds adopted
The bill that defines the legal framework regulating the creation and management of optional pension funds in Moldova was given two readings by Parliament, being thus adopted. The National Commission for Financial Markets, which drafted the bill, said the system of optional pension funds does not limit the participation by persons depending on age or the size of contribution, while the joining of an optional pension fund is an individual option. The system will be formed based on voluntary contributions of salary earners or employees. Each participant will choose the pension fun to which to contribute and will individually decide the size of the contribution, signing an individual fund joining document.
● SATURDAY, November 21
Options for passengers with tickets for cancelled flights
The COVID-19 pandemic disrupted the schedule of airlines and thousands of passengers remained with bought tickets that they could not use. The airlines formulated a number of options. “Fly One” says that it proposed three alternatives to the affected passengers: free modification of the flight date based on the timetable of available flights, vouchers to refund 120% of the ticket price and refunding of the price of the ticket according to the tariff. “Currently, most of the passengers ask for vouchers to the value of 120% of the price of the ticket for the annulled or modified flight because “Fly One” is the only company in the Republic of Moldova that implemented the system for reimbursing the price of ticket through 120% vouchers. “Air Moldova” also proposed several options. The passengers who had tickets, but the flights were annulled can modify them during a year of the purchase date. For example, if the person bought the ticket on March 20, 2020, he/she by March 20, 2021 must inform about the period when they intend to fly, mandatorily until the next flying season – October 24, 2021.
Moldovan leu in October depreciated against U.S .dollar
The Moldovan leu in October depreciated in average values against the U.S. dollar by 1.9% to 16.9836 USD/MDL, as opposed to 16.6735 USD/MDL in September. According to the National Bank of Moldova, in October the degree of covering the net demand for currency from business entities by the net supply of currency from private individuals was 126.1%, in contrast to 102.4% in September. Compared with the previous month, the net supply of currency from private individuals decreased by 32.9 million (-12.7%), while the net demand for currency from business entities declined by 73.9 million (-29.1%).
Salary for which Moldovans are ready not to leave country
Most of the Moldovans said that a monthly salary of 13,450 lei a month would make them remain in the country. The sum mentioned by Moldovans is twice higher than the net salary in Moldova, which this year is of 6,600 lei a month. The data were tabulated by the expert of the Institute for Development and Social Initiatives “Viitorul” Veaceslav Ioniță based on an opinion poll conducted in October by CBX-AXA. The average salary accepted this year for not emigrating is by 14.6% or 1,710 lei a month higher than last year. This is the highest growth in the four-year period during which “Viitorul” has conducted such polls. The salary expectations differ substantially depending on the respondents’ age. The people aged between 18 and 29 have the biggest salary expectations, of 15,920 lei a month, which is by 40% more than the expectations of older persons, who would be pleased to have 11,200 lei a month. But the expectations of older persons who are able to work are twice higher than the existing salaries. The expectations of older persons are four times higher than the monthly average.
