● MONDAY, June 19
New business incubator opened in Calarasi
A business incubator was opened in Calarasi on June 19. This will house over 20 companies that will create at least 60 jobs. Currently, 15 companies have the status of resident companies, five of which will work in the production sector, while ten in the service sector. The incubator will provide logistic, counseling, training and financial services to companies and startups so that these could reach stability and autonomy. Business incubators were also opened in Soroca, Stefan Voda, Leova, Rezina, Sangerei, Cosnita, Ceadar-Lunga, Nisporeni and Cimislia. These housed 289 companies, 144 of which successfully passed the incubator stage. Through the business incubators, there were created about 950 jobs. One more business incubator is to be opened this year in Cahul town. The network of business incubators in the Republic of Moldova was created by ODIMM in partnership with the Ministry of Economy and representatives of local public authorities, with support from the EU and the Government of Norway.
● TUESDAY, June 20
Nurseries at 25 farms inspected by “Rosselkhoznadzor” experts
Experts of the Federal Service for Veterinary and Phytosanitary Surveillance of Russia “Rosselkhoznadzor” are carrying out inspections at nurseries that produce saplings intended for export to the Russian Federation. Experts were invited by the National Food Safety Agency of Moldova, and the first day of the working visit, they travelled to Briceni district, where there are most of the nurseries that grow saplings and berry bushes. During a week, the experts will examine nurseries at 25 farms and will then present the inspection results based on which the companies that meet the standards for growing grafted trees and grapevines will be authorized to export products.
National can producers dissatisfied with lowering of ecological tax for importers
The gradual reduction in the ecological tax for importers dissatisfies the national producers who say that millions of lei would thus fail to be collected into the Ecological Fund. Chairman of the Association of Can Producers “Speranta-Con” Stefan Golubchuk told a news conference that the changes in the legislation favor the importers of packing that pollutes the environment according to producers. The diminution of the tax is stipulated in the bill to amend the Law on Environmental Tax that was passed by Parliament in two readings, but wasn’t promulgated by the President and was remitted back to the parliamentary commissions. The bill provides for the reduction in the ecological tax for different types of plastic packing, composite, polyethylene, etc.
● THURSDAY, June 22
Foreign investment decreased even if Moldova can attract investors, opinions
The lowest level of foreign investment in the last 20 years was recorded in 2016. But the Republic of Moldova can attract foreign investment through its position between two large integrationist bodies, between two free trade areas as this is rather attractive for foreign investors to create enterprises on the country’s territory, said invitees of the program “Key issue” produced by NTV Moldova channel. “The possibility of trading with the European Union duty-free is the most important thing for the Eastern partners, while the possibility of selling products on the Eastern market duty-free is very important for the European partners. This is the main advantage,” said Socialist MP Vladimir Golovatiuc. Economic expert Veaceslav Ionita said the National Bank found itself between the hammer and sickle. The foreign currency that reaches Moldova cannot be invested in economy because the latter is nonfunctional. According to the expert, the stronger leu cases damage of 250 million lei a month to Moldovan exporters. Furthermore, the incomes of the citizens who live on remittances decreased by about 10%.
Pavel Filip: Moldova has all preconditions to develop online trading
In the Republic of Moldova, there are absolutely all the preconditions to properly develop online trading. This is possible because Moldova has broadband Internet service coverage, well-developed infrastructure and good bases for training IT specialists, Prime Minister Pavel Filip said in the opening of a forum dedicated to online trading on June 22. The Premier noted that online trading gains ground in the Republic of Moldova and the Government will continue to take measures to facilitate its development. “The people now do not have time to go to the market or the shop and start to make purchases online and those who produce should devote attention to this aspect. To have access to a big market, one should have access to online trading,” stated Pavel Filip. He also said that a series of changes were made to the Law on Online Trading to adjust it to the realities and needs. The development of the information technology sector is fostered through the national strategy “Digital Moldova 2020” and the Law on IT Parks.
Entrepreneurs from both banks of the Nistru come together for first energy forum
The Republic of Moldova is 86% dependent on imported energy resources, while renewable energy represents slightly over 14% of the energy produced in the country. By 2020, Moldova aims to increase the share of renewable energy to 17%. The opportunities existing on the renewable energy market were discussed in the first energy efficiency forum that was held in Chisinau on June 22. This brought together over 60 entrepreneurs from both sides of the Nistru. The event was staged under the aegis of the Embassy of Italy in Moldova. Ambassador Valeria Biagiotti said the utilization of renewable energy will solve the problem of provision of the population with cheaper electrical energy and will create new jobs in the Republic of Moldova. “Given the rise in gas and electric power tariffs for consumers, Moldova needs to develop the energy efficiency sector and to bring this closer to the European one,” stated Valeria Biagiotti. Deputy Minister of Economy Vitalie Iurcu said the energy efficiency is a priority and an important instrument for ensuring the country’s energy efficiency. “Moldova develops well the biomass sector. We implement a series of related projects that are financed by different institutions. The Energy Efficiency Fund plays a very important role in this regard. Our goal is to make this fund provide a good example of efficient use of public money and of donors’ money so as to increase the energy efficiency of buildings, hospitals, schools and other social facilities,” stated Vitalie Iurcu.
● FRIDAY, June 23
Merab Antadze: Moldovans can invest in Georgian tourism, while Georgians in Moldovan infrastructure
The Republic of Moldova and Georgia can make use of the reciprocal business opportunities, considers the Ambassador of Georgia in Chisinau Merab Antadze, who gave an interview to IPN News Agency on the occasion of the 25th anniversary of the establishment of diplomatic relations between the two states. ”I think that when the investment climate is favorable for potential Georgian investors and investments in Moldova – as for investors from other states – the geographic position close to the European market can be interesting and advantageous as the time needed to transport Moldovan products to the EU common market would be decreased for several times. This is of special importance for many key parameters. The participation by investors from Georgia in implementing transport and infrastructure related projects can also be of special interest,” said the Georgian diplomat. “As regards the interests of Moldovan investors and their investments in Georgia, according to my deep conviction, investments in the tourism industry of Georgia are surely one of the most advantageous directions given that Georgia became one of the most captivating states, including in the tourism sector, after it developed its tourist infrastructure and owing to the favorable weather conditions.”
Chances of recovering money stolen from banking system are slim, experts
The chances of recovering the money embezzled from the Moldovan banking system are slim, considers ex-minister of finance Veaceslav Negruta and director of the Market Economy Institute Roman Chirca. The issue was developed in the talk show “Emphasis on today” on TVR Moldova channel. According to Veaceslav Negruta, the chances of retrieving the money decrease in time. “The more time passes, the harder it will be to recover the money. A lot depends on the state institutions and we hope that with the arrival of the experts of Kroll company in Chisinau, all the recovery procedures will be hastened. If the state institutions had mobilized to recover the money after the first Kroll report was presented, the chances would have been bigger. Immediately after the first Kroll report appeared, the Latvian authorities, for example, reacted and dismissed the director of a bank. We now have to only hope that the money recovery process that will start after the arrival of Kroll experts will be dynamic,” stated the former minister. The governor of the National Bank of Moldova Sergiu Cioclea recently said that a team of Kroll experts will come to Chisinau at the start of July and, after the second report on the embezzlement of about US$ 1 billion from the banking system is presented, the authorities will launch the process of recovering the money. Cioclea noted that the second Kroll report will not be published.
Production Park “Valkanes” extends activity
The Cabinet endorsed a legislative proposal to extend the Free Enterprise Zone “Production Park “Valkanes” by over 92 hectares. The 107 hectares that belong to the Free Enterprise Zone will be supplemented with a plot of 50.3 ha situated in Comrat municipality and a plot of 41.9 ha located in Ceadar-Lunga town. Thus, there will be created possibilities for the activity of two new subzones that are situated in industrial zones and that are connected to the necessary production infrastructure. According to the authors, the proposal aims to accelerate the socioeconomic development of ATU Gagauzia and to stimulate the work of the production park. A number of foreign investors expressed their readiness to develop businesses in this free enterprise zone and to create new jobs, contributing thus to higher revenues into the local budgets. The Free Enterprise Zone “Production Park “Valkanes” was created in Vulcanesti town in 1998.
Critical reactions to exclusion of production date from list of label content elements
A number of MPs reacted critically to a new law on the information of consumers about food products, which was proposed for examination in the first reading, because this does not contain “production date” in the list of mandatory label content elements. They asked for an amendment in this regard in the second reading, saying it is the right of consumers to know this information. In the debates on the bill, when Lib-Dem Tudor Deliu asked why the “production date” is not present in the list of mandatory label elements, Deputy Minister of Agriculture and Food Industry Vasile Luca, who presented the bill, said the document transposes the European directives in the field. According to the deputy minister, not the production date, but the date when a product is safe for consumption is important. Member of the European People’s group George Mocanu said he will not vote for the bill in the second reading if the given amendment is not included because the consumers must know the date when a product was made. The bill was passed in the first reading by a majority of votes.
Activity of banks to be regulated by new law
The Cabinet approved the draft Law on the Activity of Banks, which will substitute by the current Law on Financial Institutions. The document transposes the international standards and practices concerning the licensing, regulation and supervision of the National Bank of Moldova and simultaneously maintains the legal provisions that were worked out and adopted in accordance with the recommendations of the International Monetary Fund. According to the authors, the new law will enable to develop efficient instruments for surveying, preventing and minimizing possible shortcomings in the work of banks at incipient stages, ensuring thus the stability of the banking sector and protecting the interests of depositors. In particular, the rights and powers of the National Bank of Moldova to assess and supervise the banks will be extended. The penalties imposed on banks will be made harsher and diversified. The banks will be obliged to have an appropriate internal capital in relation to the risks to which they are exposed. The bill contains new concepts and notions.
