● MONDAY, May 11

Two Moldovan companies allowed to export meat to Russia

Russia’s Federal Service for Veterinary and Phytosanitary Surveillance “Rosselkhoznadzor” lifted the ban on the import of meat for two Moldovan companies. Minister of Agriculture and Food Industry Ion Sula said the information was published on the website of “Rosselkhoznadzor”, but the Moldovan authorities haven’t been yet officially informed about this. The minister said that at the end of last October, when the import of Moldovan meat was stopped, the authorities of Russia and Belarus invoked deviations from Customs Union norms. Afterward, veterinary experts from Russia and Belarus visited the Moldovan exporting companies and formulated a number of requirements. The companies complied and a relevant report was sent to the Russian authority in February.

Interest rate on deposits in lei goes up

The interest rate on deposits in lei attracted from private individuals and legal entities in the first quarter of this year rose by 3.37 percentage points to an average of 9.25%. In March the banks attracted deposits in lei from private individuals at an average interest rate of 13.54%, as opposed to 8.12% last December. “The rise in the interest rate on new deposits attracted in Moldovan lei from private individuals was stimulated by the National Bank’s decision to toughen up the monetary policy. As a result, saving in national currency was encouraged and the pressure on the currency market was reduced,” said the central bank’s governor Dorin Dragutanu.

Airline penalized for economic concentration

The Competition Council penalized the airline Valan International Cargo Charter SRL, fining it over 127,000 lei for putting into practice economic concentration operations before obtaining the necessary authorization from the competition regulation authority. According to a communique of the Competition Council, under the Competition Law, the economic concentration operations are subject to assessment and the Competition Council must be notified of these before they are carried out. The non-informing about these operations represents a violation.

● TUESDAY, May 12

Regional road connecting villages of Straseni and Orhei districts to be repaired

About 80 km of a road that connects 22 villages of Straseni and Orhei districts will be rehabilitated over the next three years with financial support from the World Bank’s Road Fund, Minister of Transport and Road Infrastructure Vasile Botnari said while on a building site on the Straseni-Voinova road. The minister said that 21 km of a local road that joins five villages - Voinova, Chirianca, Zubresti, Recea, and Ghelauza - were rehabilitated at a cost of 15 million lei, which was allocated from the 2014 Road Fund.  “We will continue to repair this road. It will be asphalted and will have two lanes. Another 35 million lei was allocated from the Road Fund for the purpose,” stated Vasile Botnari.

● WEDNESDAY, May 13

Transport ministers of 12 states meet in Chisinau

The Ministry of Transport and Road Infrastructure of Moldova is hosting the Meeting of the Transport Ministers of the Member States of the Black Sea Economic Cooperation Organization and the Meeting of the Working Groups on Transport in Chisinau on May 13-14, given that Moldova is holding the presidency of the BSEC. According to a press release of the Ministry, the main topics that will be discussed by the transport ministers of the 12 member states include the current stage of the cooperation relations in the area of transport, stimulation of the process of implementing the major projects under the aegis of the BSEC and mobilization of efforts to facilitate transportation in the Black Sea Region.

State Tax Service specifies procedure for registering economic entities as VAT payers

From May 1 this year, the economic entities can voluntarily register as VAT payers if they intend to sell taxable goods and services. The previous turnover ceiling of 100,000 lei for registration was annulled. The State Tax Service specifies that to be able to register as VAT payers, the economic entities must file an application to the local fiscal office. The application form can be taken from the fiscal office or can be printed from the website www.fisc.md, in the division: Application Forms. After the presented documents are checked to see if the applicant meets the registration conditions, the company is issued with a certificate showing that it was registered as VAT payer. The obligations of VAT payer start to apply on the first day of the month coming after the month when the application for registration was submitted. The documents are examined and the certificate of VAT payer is issued within 14 calendar days of the submission of the application.

Government of China pays great attention to relations with Moldova, ambassador

The Government of China pays great attention to the development of the relations with Moldova, Ambassador of the People’s Republic of China in Chisinau Mingtao Tong said in a meeting with Prime Minister Chiril Gaburici on May 13. The diplomat pleaded for developing the potential existing in the commercial-economic, investment, cultural and humanitarian areas, saying Moldova is a very important partner in Eastern Europe. According to the Government’s press service, the Premier thanked the Chinese authorities for the provided non-reimbursable assistance and for the support at international level. “We see positive dynamics in the relations between our states, while the bilateral projects are very important for modernizing Moldova,” stated Chiril Gaburici.

● THURSDAY, May 14

Premier orders dealing with problem reported by Dräxlmaier Group

Prime Minister Chiril Gaburici instructed the Ministry of the Environment and the Ministry of Economy to analyze the situation of the largest German investor in Moldova Dräxlmaier Group, which threatened to stop work because of the serious environment-related problems experienced in the region. The German company, which manufactures automotive components, said the noxious emissions from the winery “Vinaria din Vale” affects its production. For last year the company reported losses of about €500,000 owing to the oxidation of its copper fibers. “We will look for solutions because we do not want an investor that created over 2,500 workplaces in Balti to stop work,” stated Chiril Gaburici. “We asked considering the possibility of replacing particular substances used by the wine factory in the production process.”

Financing for young entrepreneurs in agriculture

Young entrepreneurs from rural areas who run or want to start a business in agriculture can get financing of up to 520,000 lei within the Inclusive Rural Economic and Climate Resilience Program VI (IFAD VI) that was launched on May 14. Minister of Agriculture and Food Industry Ion Sula told a news conference that the total value of the program is US$12.1 million. It is open to people younger than 35 inclusive, who come from rural areas and develop rural businesses. Of the sum of up to 520,000 lei that they can obtain, 120,000 lei represents the grant, while the rest is a loan repayable in five years, with a grace period of two years, at an interest rate of 8.5%. If the financing is smaller than 300,000 lei, the grant represents 40% of the sum.

● FRIDAY, May 15

FIA launches fourth edition of White Book 

The Foreign Investors Association (FIA) launches the fourth edition of the White Book on May 27. The FIA, which counts among its members the largest companies with foreign capital in the country, but also the most persistent investors in Moldova, whose cumulative investments exceed half of the total FDI in Moldova, is celebrating 10 years of activity. On this occasion, FIA is announcing the launch, after 6 years, of a new edition of the White Book with proposals for modifying certain legal provisions that create impediments to the activity of foreign companies in Moldova, but also discourage the arrival of new investors. The fourth edition of the White Book includes recommendations from experts of the largest companies with foreign capital in Moldova for improving the investment climate in the country. Foreign investors have identified a set of concrete problems which stand in the way of improvement of the investment climate in Moldova and drafted specific solutions for each separate case.

Red Union Fenosa fined over 186,000 lei 

The Chisinau Appeals Court confirmed that I.C.S. “Red Union Fenosa” SA must pay a fine of over 186,000 lei for violating the legislation on competition protection, the company being penalized for inequitably treating consumers. The Council informed that I.C.S. “Red Union Fenosa” SA, using its dominant position on the market, imposed unjustified requirements on some of the companies selling electric power meters. As a result, the end-users were unable to choose meters according to the ‘price – quality’ principle. The company hasn’t yet commented on the court’s decision.

Not all Transnistrians get salaries, even if these were cut by 30% 

Not all the salary earners in Transnistria receive their salaries, even if these were cut by 30%. The Transnistrian administration reported salary payments of 58%, IPN reports, quoting the local press. About 30 million Transnistrian rubles was collected into the region’s budget this May, by 9 million less than last May. Since the start of this year, there was collected about 470 million rubles, by 173 million rubles less than in the corresponding period last year.