A total of 1,300 small and medium-sized enterprises (SMEs) will have the opportunity to enhance the competitiveness of their products and services through the Competitiveness Growth Program for Local Producers and Value Chain Integration, launched today, IPN reports.

According to the Minister of Economic Development and Digitalization, Dumitru Alaiba, the program will help companies establish themselves, accelerate their growth, and expand their operations.

Launched through ODA (Organization for Entrepreneurship Development), the program will support the purchase of modern equipment and machinery essential for boosting competitiveness and productivity, promotion services, brand development, and the implementation of European standards to facilitate exports to the EU.

Margret Uebber, Germany’s ambassador to Moldova, highlighted that the program reflects the crucial role that SMEs play in economic development. As part of its financial cooperation, Germany has allocated over 30 million euros in grants over the past 18 months to support SME financing and strengthen ODA’s institutional capacity.

Inguna Dobraja, Country Director for the World Bank Group in Moldova, stated that the program is not only for SMEs but also aims to improve business service efficiency through digitalization. An example is the creation of a one-stop center for issuing business permits.

Vadim Codreanu, ODA director, specified that the maximum support available under the program is 2 million lei, covering up to 80% of expenses.

The program, valued at 115 million lei, will be funded from the state budget, the "Competitiveness of Micro, Small, and Medium Enterprises" Project supported by the World Bank, and technical assistance provided by GIZ Moldova.

SMEs make up 99.2% of all enterprises in Moldova and employ 65% of the total workforce in the business sector.