ECO-BUS WEEKLY DIGEST September 23-29. Most important Economy & Business news by IPN

● MONDAY, September 23

Over 300 million lei of "Air Moldova" statutory capital were sequestered

The sequester amounting to 301.6 million lei was applied as part of a criminal investigation into the crime of large-scale money laundering which allegedly occurred during the privatization of "Air Moldova" SOE. In a National Anti-corruption Center press release, it is stated that a series of fictitious transactions led to the privatization of the airline. In order to avoid the risks of company asset alienation, the statutory capital of the company, worth 301.6 million lei, was sequestered.

● TUESDAY, September 24

Alternative financial companies have created an Association

An Association that aims to improve the reputation of alternative financial companies (non-banking), but which will represent their interests before the regulator, has been launched on Monday, September 23, during an official ceremony at a hotel in the capital. According to Angela Gladei, director of the Employers' Association of Alternative Financial Companies, the entity sees itself as an ally of the regulator, being ready for open dialogue to improve the legal framework in the field, to prevent over-indebtedness of the population and to increase the quality of provided services by introducing best practices.

Changes to Law on waste should not be enacted, hearings

President Igor Dodon should not enact amendments to the Law on waste, which allow the burning of waste. After Environment and Regional Development Committee hearings, the chairwoman of the Committee recommended to return the bill to Parliament for further debates. Anatolie Prohnițchi, chairman of the Green Ecological Party, said that waste incineration is in the interest of an oligarchic group. "According to statistics, in the Republic of Moldova, 5,000 people die every year due to diseases caused by environmental pollution", said Anatolie Prohnițchi.

Interactive map of traditional Moldovan products was launched

Tourists come to Moldova not only to see Orheiul Vechi or the Purcari, Cricova or Mileștii Mici wineries, but come to immerse into our culture, which is somewhat represented by our traditional products. The statement belongs to Anatol Fală, an expert involved in the creation of an interactive map of traditional Moldovan products. The interactive map was launched on September 24 at a press conference. "We have one of a kind and traditional products, which we must consume. The products that we are acquainted with should be promoted to those who visit Moldova", said Anatol Fală.

Minister of Economy: At least one billion lei looted from the state

The Minister of Economy and Infrastructure, Vadim Brînzan, argues that, for the 100 days since assuming office, he has been working on revealing schemes of Moldtelecom, Railways, ANTA, Cricova or Metalferos. According to the minister, at least one billion lei has been embezzled from the state. "In order to achieve real economic growth, it is absolutely necessary to reveal the schemes by which the state was looted, to de-monopolize the economy sectors in order to increase the access of entrepreneurs to the market, to have a management of state and private enterprises," said the minister, in the context of presentation by Prime Minister Maia Sandu of the report on the 100 days after the investiture.

● WEDNESDAY, September 25

The state does not have an efficient control mechanism for genetically modified products, committee

Economic agents introduce in the Republic of Moldova genetically modified products without an efficient control mechanism. It is the finding of the Chairman of the Parliament's Committee on Agriculture and Food Industry, Radu Mudreac, after the hearings organized on the control regarding the import and marketing of foodstuffs containing genetically modified organisms in 2016-2019. Representatives of the Ministry of Agriculture present at the hearings have mentioned that the institution only authorized imports of soybean meals, which contain genetically modified organisms. Ela Malai, deputy director general of the National Agency for Food Safety, has said that although the institution has the right of control, it does not have a representative in the National Commission for biological safety, which deals with the authorization of imports of products containing genetically modified organisms.

Amount allocated for road maintenance has been supplemented

The government has redistributed the Road Fund means, supplementing the amount allocated for road maintenance by 114 million. According to the Ministry of Economy and Infrastructure, by the end of 2019, for the road repair and maintenance works 322 million lei will be used. For the maintenance and repair of the national public roads with a length of 5857 kilometres and their engineering constructions, 1024 million lei have been allocated according to the Program for the road fund means distribution for national roads in 2019.

Law on Deoffshorization approved by the Government

Legal entities founded by subjects from jurisdictions that do not comply with international transparency standards shall not have the opportunity to participate in privatization procedures, public-private partnerships, public procurement and concessions of works and services. This is provided by a draft law approved by the Government. Restrictions also refer to legal entities whose members, directly or indirectly, are persons registered or residing in such jurisdictions. "The previous regime tried to turn the Republic of Moldova into an offshore, it involved us as a state and citizens in a lot of transactions and contracts with offshore companies that led to huge damages to the state. Now we wonder who is behind these offshore companies that stole money from the Banca de Economii or took over the Airport. Everyone who wants to conclude transactions with the state, everyone who wants to win tenders for the supply of services or goods, should display all their contact information, to know who they are, who is the final beneficiary of these companies and to put an end to all the schemes that have happened in all these years”, declared the Prime minister Maia Sandu.

Money transfers from abroad, decreasing

In August, through licensed banks, foreign funds have been transferred to individuals in the net amount of $ 99.38 million. The figure is down by 2.6%, compared to August 2018. Most transfers come from the European Union - 46.3%, from the CIS - 22.5%, and from the rest of the world - 31.2%. In the distribution by country of origin of the transfers to individuals, the transfers from Russia are noted, with a share of 21.4%, which represent 21.25 million dollars. Transfers from Israel made up 18.4% ($ 18.26 million), and from Italy - 12.1% ($ 12.03 million). Transfers from other states are below 10%.

● THURSDAY, September 26

Moldova will be able to access 100 million euros for electricity interconnection with Romania

Three financing agreements for the project of interconnection of electricity networks in the Republic of Moldova with those in Romania have been signed today, September 26, by the Ministry of Finance. Moldova will be able to access financing of 60 million-euro loan and 40 million-euro grant for the modernization of the energy system. The money will be used in particular for the construction of the back-to-back type power station in Vulcanesti and for the construction of an interconnection line between the south of the Republic of Moldova and Chisinau. According to the Minister of Finance, Natalia Gavrilița, these agreements support an important project that will contribute to reducing the energy dependence of the Republic of Moldova. The project is developed jointly by the Government, the European Bank for Reconstruction and Development, the European Investment Bank, the World Bank and the European Union. "This is a strategic project for Moldova," stressed Natalia Gavrilița.

National Wine Day: about 70 wineries and over 100 thousand visitors

About 70 wineries will participate this year in the XIIX edition of the National Wine Day. This year the holiday will cover a larger surface area of around 25 thousand square meters, from the Great National Assembly Square to the pedestrian street. It will also expand from geographical point of view, through the participation of music ensembles from Romania and Ukraine. The organizers say they expect more than 100 thousand visitors. At a press conference, the Minister of Agriculture, Regional Development and the Environment, Georgeta Mincu, stated that the Republic of Moldova succeeded in imposing high quality standards, so that today Moldova would be among the top ten wine exporters in the world. "Every winemaker working in the vineyard to obtain good products, will be celebrated during the first weekend of October," the minister said.

● FRIDAY, September 27

European Sustainable Energy Week has been launched

The climate crisis is imminent, that is why it is important for everyone to be concerned about the environment, climate change and energy conservation. Our future depends on this. The climate crisis is a pressing reality and if we fail to act now, this will increasingly affect the future of young people. The messages were expressed on Friday, September 27, during the launch event of the European Sustainable Energy Week. Peter Michalko, EU Ambassador to Chisinau, has said that the forward-looking climate policies promoted by the countries of the world influence the lives of citizens and the formation of a society more resilient to climate change. According to the ambassador, the risks arising from climate change are very high and they target the countries that are dependent on agricultural production, the agri-food sector, where these changes can have unpleasant effects. Minister of Economy and Infrastructure, Vadim Brînzan, has mentioned that sustainable energy means energy efficiency, green energy and a clean environment. He has also said that one leu invested in green energy saves three lei.

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