The Republic of Moldova should concentrate its efforts on attracting Foreign Direct Investment that has an impact on the people’s welfare through higher salaries and the revenues collected into the state budget, Ricardo Giucci, leader of GET Moldova and managing director at Berlin Economics, said in a news conference at IPN.

According to Ricardo Giucci, what the Government did so far, like the cutting of the number of permissive documents and the state inspections reform, simplified the activity of foreign companies on Moldova’s territory, but this is not enough.

“I think it is too early to say that all the problems have been solved. I believe it is important for the foreign investors to work in different conditions compared with the local investors. The companies working here should be able to delegate a manager from their country and it would be important for this manager to get a work and stay permit in the Republic of Moldova as easier as possible. Proposals have been already formulated to facilitate the procedures envisioned for persons who come to invest. This should be continued, while the investors should know these benefits,” stated Ricardo Giucci.

The expert also said that among the main problems signaled by foreign investors in Moldova are the large number of taxes and the impossibility of firing persons who do not do their job as the Labor Code does not allow for this.

Based on data provided by the National Bureau of Statistics and the National Bank of Moldova, the German Economic Team Moldova made an analysis of the impact of FDI on Moldovan economy. The analysis will be presented to the Government for being used in the elaboration of policies. At the second analysis stage, the experts will also formulate recommendations.