● MONDAY, March 23

Information about company founders will be available online

The access to information about the founders of companies registered in Moldova will be free and public. The data will be available from the governmental portal www.date.gov.md starting with this April and will be updated monthly. An order to this effect was made by Prime Minister Chiril Gaburici. “Such a measure will reduce the acts of corruption and protectionism and will ensure a high level of confidence in the business sector of our country, both on the part of the national investors and the foreign ones,” stated Chiril Gaburici.

EBRD supports development of new mechanisms for protecting rights of entrepreneurs

New mechanisms for protecting the rights of entrepreneurs will be developed in Moldova with the assistance of the EBRD. The subject was discussed in a meeting of Prime Minister Chiril Gaburici and representatives of a delegation of the EBRD led by Francis Malige, Director for Eastern Europe and Caucasus. Chiril Gaburici pleaded for continuing the projects implemented with the support of the EBRD, including for strengthening the Premier’s Economic Council and accelerating the reforms designed to improve the business climate in Moldova. Among the discussed subjects were also the institution of the post of ombudsperson for business and the development of the mechanism of mediation in business disputes.

● TUESDAY, March 24

Moldovagaz seeks 48% increase in gas charges

SA Moldovagaz made an approach to the Nationals Agency for Energy Regulation (ANRE), asking raising the average charge for the supply of natural gas from 5.6 lei per cubic meter to 8.3 lei. The arguments of “Moldovagaz” were presented in a public hearing at the ANRE on March 24. A number of rounds of consultations will yet follow.

● WEDNESDAY, March 25

Rise in prices of energy resources is imminent, officials and experts

The increase in the tariffs of energy resources is imminent and could determine a number of consumers to give up using these resources. Such conclusions were formulate din the talk show “Fabrika” on Publika TV channel. Alexandru Mija, head of the Tariffs Division of the National Agency for Energy Regulation, said the Agency already initiated public consultations on the requests to increase the tariffs made by “Moldova-Gaz” and “Gaz Natural Fenosa”. “The Agency’s task is to act correctly. We use the principle “minimal costs and maximum efficiency”. These rises could reduce the number of consumers, including economic entities. The requests of the two companies will not be granted immediately. We will analyze their arguments and will do also our own calculations. If it’s necessary, we will allow gradually increasing the tariffs,” he stated. The head of the Association of Energy Consumers of Moldova Nicolae Mogoreanu said the rise in tariffs is determined by the depreciation of the national currency. “The purchase price of gas remained the same or even decreased. But the transportation and supply services grew dearer. The last time the charges were raised in 2011. Since then the leu has depreciated considerably. To protect the socially deprived groups of people, the volume of gas paid at lower tariffs should be increased from 30 to 40 cubic meters,” he said.

Banks’ profit goes up based on difference in exchange rates

The profit made by the banks in the first two months of this year was 335.9 million lei, an increase of 104.6% or 171.7 million lei compared with the corresponding period last year. The rise in profit is determined by the increase of 1.07 billion lei in incomes gained from the difference in the exchange rates given that the Moldovan leu has depreciated against the main foreign currencies. The sum consists of incomes earned from the reassessment of assets and liabilities in foreign currency and incomes earned from currency operations.

New train fares from April 1

The fares on international train routes will fall by 20%, while on internal routes will rise by 20% from April 1. Officials of the state-run railroad company “Calea Ferată din Moldova” said the adjustments were made with the aim of reducing the losses sustained in passenger transportation on internal routes. The fares will rise the most on distances longer than 141 km, where adult passengers will pay by 30 lei more, while the price of a ticket for children will increase by 15 lei. For comparison, the rise on distances shorter than 30 km will be 6 lei on average.

EU to offer €64m to Moldova for agriculture and rural development

The Cabinet on March 25 approved the decision to sign the financing agreement between the Government of Moldova and the European Commission for implementing the European Neighbourhood Program for Agriculture and Rural Development (ENPARD) Moldova – Support to Agriculture and Rural Development within which Moldova will get a budget support package of €64 million. A sum of €53 million will be provided in budget support, while €11 million – in technical assistance for implementationt. Minister of Agriculture and Food Industry Ion Sula said the implementation of the ENPARD will contribute to developing the capacities to export the country’s main agrifood products to the EU and, consequently, to increasing the impact on the GDP. The working and living conditions in rural areas will be improved. The grants that will be released within the project are designed for small producers and farmsteads.

● THURSDAY, March 26

Authorities should take immediate measures to save banking system, experts

The authorities should take immediate measures in order to save the banking system, others than taking out preferential loans from the National Bank of Moldova. Such opinions were stated in the talk show “Fabrika” on Publika TV channel. Manager of the legal consultancy company “Gladei & Partners” Roger Gladei considers such proposals should be formulated by Moldovan and foreign specialists. “I would like national and international experts to submit proposals for remedying the situation. We have a problem involving tens of billions of lei in a system of a hundred billion lei. The banking system is not healthy. But I don’t think that the state should inject more money into it,” said the jurist.

Higher train fares will not cover real cost of trip, deputy minister

The prices of tickets on interurban train routes were adjusted to the rate of inflation, Deputy Minister of Transport and Road Infrastructure Vladimir Cebotari said when commenting on the decision of the state-run railroad company “Calea Ferata a Moldovei” to increase train fares by 20% from April 1. “Even after this adjustment, the service to transport passengers by trains along interurban routes will remain subsidiary to other services provided by “Calea Ferata a Moldovei”. We must take steps to gradually make it a service that at least covers the real cost of trips. I must say that even after the ticket prices are raised by 20%, the interurban train transportation service will remain a social one and will be cheaper than the bus and minibus services,” said Vladimir Cebotari.

Financing agreement for ENPARD Moldova program signed

Prime Minister Chiril Gaburici and Director of the DG for Enlargement of the European Commission Gerhard Schumann-Hitzler signed the financing agreement between the Government of Moldova and the European Commission for implementing the European Neighbourhood Program for Agriculture and Rural Development (ENPARD) Moldova – Support to Agriculture and Rural Development. The total value of the ENPARD Moldova is €64 million, €53 million of which will be provided in direct budget support within three tranches, until 2018, to support the Government’s efforts to implement the agriculture and rural development policies. “The access to the ENPARD Program means money for increasing investments in modernizing the agricultural sector and developing the education systems in villages, larger sales for farmers on the home and foreign markets,” said Chiril Gaburici.

Arabic investments in Rybnitsa Metallurgical Plant

Brik Oil company from the United Arab Emirates has purchased raw material to the value of US$140 million for the Rybnitsa Metallurgical Plant. A relevant contract was signed by the plant’s administration and the Arabic company’s administration. The handover ceremony involved the Transnistrian leader Yevgheny Shevchuk. According to his press service, the given investment will enable the plant to increase its production two times compared with 2014.

● FRIDAY, March 27

Government will identify additional funds for subsidizing agriculture 

The Government will find additional financial resources for increasing the agriculture subsidization fund. Such a commitment was made following a meeting of Prime Minister Chiril Gaburici and representatives of farmers on March 26. The farmers demand that the agriculture subsidization fund should be raised to 1 billion lei. The 2015 draft budget law provides that the fund this year will be 610 million lei, over 200 million lei of which represents the overdue payments for last year. According to the Government’s press service, the farmers asked that the fund should be augmented by allocating the first tranche of 350 million lei within the EU-funded ENPARD Moldova Program “Support to Agriculture and Rural Development”.

Farmers protest with machinery on roadside 

The farmers give the authorities one more week for satisfying their demands. Otherwise, they will stage harsher protests. On March 27, more than 3,500 farmers took their agricultural machinery to the roadside and stretched banners reading “If you have money for banks, find some for farmers too” and “Agriculture is the source of people’s welfare”. Chairman of the National Union of Agricultural Producers Associations “UniAgroProtect” Alexandru Slusari said the protest was mostly calm, but he had to intervene in Causeni and Stefan Voda so as to convince the farmers not to block the roads. “The people lost confidence. We tell the authorities that the time of promises has passed and we want actions,” he stated.

Tourist offers on Easter 

The tour operators provide special offers on Easter both for national and for foreign tourists. The chairman of the National Association of Travel Agencies Alexandru Juraveli has told that those who want to rest at the agri-tourist pensions in Orheiul Vechi will pay €40 to €45 per person for accommodation, breakfast and the Easter meal. The offer includes participation in the Easter night service and egg painting lessons. Juraveli said the local offers are less attractive for the Moldovan tourists, who prefer tourist destinations abroad. On Easter, the travel agencies provide a six-day trip to Jerusalem for US$575 without airfare. The offer covers the period between April 9 and 15 and includes hotel accommodation, excursions to Jerusalem, participation in the Easter service and visitation of the Nazareth. The tourists will also be able to swim in the Jordan.

Investments in Free Economic Zones on the rise 

The volume of goods produced and services provided in Free Economic Zones (FEZs) in 2014 came to about 3.8 billion lei, with the industrial production accounting for 95.7% of these, the Ministry of Economy says in a report. 79.1% of the goods produced in the FEZs were exported, accounting for 9.2% of Moldova’s exports in 2014.

● SATURDAY,  March 28

Easter cakes will go on sale one week before Easter 

The Easter pound cakes of the largest bakery “Franzeluta” will go on sale one week before Easter, not yet before they are blessed by His Holiness Vladimir, the Metropolitan Bishop of Chisinau and all Moldova. The bakery’s director Victor Cojocaru has told that a new Easter bread and cakes line with a capacity of 16 tonnes a day will be put into operation. The director said the line that cost €1 million consists of a stove with two ten-meter tunnels, which is an absolute novelty. The Easter offer of “Franzeluta” includes new products, but also an improved recipe for last year’s cakes. The new types of cakes, by the Panettone formula, will contain chocolate and citrus fruit. There will also be launched rolls of pound cake dough with plums and walnut kernel.