● MONDAY, January 28

Kiril Gaburici: Moldova has best fiscal conditions for business entities in region

The Republic of Moldova can boast of the best fiscal conditions for business entities in the region, suspended minister of economy and infrastructure Kiril Gaburici stated in the program “Reply” on Prime TV channel. According to him, this thing should be made known so as to attract foreign investors. According to the minister, communication with business entities so as to clearly understand the problems faced by these and to solve them is the most important aspect. “This shows the Government’s openness and the wish to create good working conditions,” stated Kiril Gaburici. He also said that the foreign investors, when they want to enter the Moldovan market, examine a number of aspects, such as the presence of labor force and the existence of a market where they could sell their products.

● TUESDAY, January 29

Premier Filip welcomes Chinese company’s intention to invest in 5G technology in Moldova

Prime Minister Pavel Filip positively greeted the intention of the Chinese company ZTE to invest in 5G technology in the Republic of Moldova. In a meeting with representatives of the investor, the Premier said the promotion of new technologies and implementation of large-scale projects in this sector are of major importance. According to Pavel Filip, the information and communication technology sector is a priority for the Republic of Moldova and the stimulation of entrepreneurial activities on this segment leads to the creation of new jobs and brings benefits to the people.

● WEDNESDAY, January 30

Chinese banks to finance rehabilitation of two roads of national importance

Two projects to rehabilitate roads in the Republic of Moldova, namely the national road M5 Ukrainian border – Criva – Bălți – Chisinau – Tiraspol – Ukrainian border, the Criva – Balti section that forms part of the European transport network, and the national road Bălți – Florești, will be implemented with financing from China CITIC Bank Corporation Limited. The Government approved the initiation of negotiations with the given bank. The Ministry of Economy and Infrastructure earlier signed a Memorandum with China Hyway Group Limited and Tianjin Oubaiwei Corp LTD, by which the consortium pledged to offer Moldova assistance in obtaining financing for minimum 15 years in advantageous conditions, following the signing of an international contract for the execution of rehabilitation works with it. The document was signed to implement the projects specified in the Government decision adopted today, January 30.

Energy Efficiency Agency to be reorganized

The Energy Efficiency Agency that is an administrative authority managed by the Ministry of Economy and Infrastructure will be reorganized by merger with the Energy Efficiency Fund. A decision to this effect was taken by the Cabinet on January 30. Within a month, the Energy Efficiency Agency will approve the organigram and will present it to the State Chancellery for approval. The duties of the Energy Efficiency Fund will be fully transferred to the Energy Efficiency Agency.

State will purchase and will then sell shares of Moldindconbank

The Government approved the signing of a pre-contract for the purchase and denationalization of the newly issued shares of the bank of systemic importance BC Moldindconbank. The 63.89% shareholding will be bought by the Public Property Agency at the price of over 760 million lei. After the shareholding is purchased, the Public Property Agency will exhibit it for sale as an undividable holding on the regulated market of the Moldova Stock Exchange, at outcry auctions. Equal conditions for participation in the auction will be ensued for potential buyers that have the preliminary approval of the National Bank of Moldova. At the next stage, the Public Property Agency will sign, in the name of the Government, a pre-contract with the buyer that will be chosen winner of the auction.

Government opens talks with Romania on draft agreement in tourism sector

The Government decided to initiate talks with the Romanian side on the draft agreement on cooperation in tourism. The draft agreement envisions the favoring of the development of cooperation between public institutions and companies operating in the tourism industry of the two countries, creation of favorable conditions for attracting new investments for supporting and developing tourism in accordance with the national legislation of each side, foundation of mixed enterprises in tourism, exchange of specialists, groups and delegations of experts in tourism.

“Made in Moldova 2019” exhibit opened at Moldexpo

Companies operating in different sectors of the national economy are taking part in the current edition of the exhibition “Made in Moldova”. As in the previous editions, the exhibition has a business program with roundtable meetings, presentations of companies and products, seminars, conferences on issues of interest related to commercial-economic cooperation. In the inaugural event on January 30, chairman of the Chamber of Commerce and Industry Sergiu Harea said the 18th edition is entitled “At Home. Authentic. Autochthonous”. The event involves 450 companies, including from the Autonomous Territorial Unit of Gagauzia and the Transnistrian region. Some of these have collective stands. The exhibits were displayed in a number of pavilions and open areas of the exhibition center Moldexpo. The central pavilion hosts food products and beverages and the collective exhibitions of 18 districts. In pavilion No. 2, 17 industrial, textile and furniture companies present the brand “From the heart”. Pavilion No. 3 hosts public service providing institutions, such as the National House of Social Insurance and the National Employment Agency, district councils and craftsmen. Agricultural products and machinery are sold in the open areas.

● THURSDAY, January 31

Tax that annually leaves family budget without 20,000 lei

The value added tax (VAT) is a general tax by which the state collects into the budget 20% of the value of the goods supplied and services provided on Moldova’s territory. Lower tax rates are imposed on some of the products, such as food products, the VAT on which is 8%. The expert in economic policies of the Institute for Development and Social Initiative “Viitorul” Veaceslav Ioniță has told that apparently the tax is collected from companies, but it is actually paid by consumers. Unlike the other taxes, the people pay VAT every time they buy a product or pay a service, this tax being included in the final price. Annually, each family pays about 20,000 lei VAT on average. According to the expert, the sum calculated into the state budget from VAT is of about 20 billion lei a year. For comparison, the tax on real estate brings 300 million lei to the budget, while the tax on farmland – 200 million lei. Even if the tax on dwellings or that on land in figures represent much lower sums than the VAT, the citizens feel the first taxes more as they pay them directly.

Moldovan goods can be exported to Russia through Ukraine

All the types of Moldovan goods can be exported to the Russian market by transiting Ukraine as of January 30 this year, President Igor Dodon announced after a meeting with the President of Russia Vladimir Putin in Moscow. The official said that now that Russia annulled the customs duties on the import of Moldovan goods, trade between the two countries will increase swiftly. According to the presidential press service, in the meeting the two officials discussed the Moldovan-Russian cooperation in the commercial, economic and humanitarian sectors. Assessing the results of the two-year cooperation relations, Igor Dodon said all the preconditions are being created for the current Moldovan-Russian relations to be brought to a new level.

No bid submitted for purchasing buses for Chisinau yet

No bid has been submitted by January 31 in the tender contest to buy buses for the capital city that was announced by the authorities on January 2. The deadline is February 8, 12 noon. Asked to provide details, the head of the General Public Transport and Communications Division Vitalie Butucel said experience shows business entities submit bids on the last moment. Since the tender contest was announced, they were contacted only to be asked about the conditions. The municipality intends to spend 80 million lei on buying 31 buses. The money was planned in the 2019 municipal budget.

● SATURDAY, February 2

Igor Dodon: Moldovan goods can be exported to Russia via Ukraine

All the types of Moldavan goods can be exported to the Russian Federation passing through Ukraine as of January 31 this year, President Igor Dodon said in a news conference given at the Chisinau International Airport on his return from Russia, where he paid a working visit. President Dodon said the fact that Russia allowed the Moldovan goods to be transited via Ukraine after the Government of the Russian Federation banned this on December 29, 2018 is the most important result. The agreement was reached as result of the previous arrangements with his Russian counterpart Vladimir Putin. As of January 1, 2019, for five positions of goods, including fruit, vegetables and cans, will be exported to Russia duty-free and this will enable the entrepreneurs to save considerable amounts of money.

2.9bn lei collected into national public budget in January

Revenues of 2.9 million lei were collected into the national public budget in the course of last month. According to the State Tax Service, this is by 8.9% or 235.7 million lei more than in the corresponding period last year. A sum of 1.3 billion lei was collected into the state budget, which is one of the four components of the national public budget. The sum is by 11.4% or 133.6 million lei higher than last January. The revenues into the local budgets came to 292.7 million lei, which is by 1.1% or 0.03 million lei less compared with last January.