The employees of Free Economic Zones (FEZes) in January-September this year totaled 11,000, up 63% compared with the corresponding period last year. By the end of this year, the number of employees will rise to 12,500 and is expected to double during the next two years. The results achieved by the seven FEZes of the county in the first nine months of this year were presented by Deputy Prime Minister Octavian Calmac, Minister of Economy and Infrastructure, in a news conference, IPN reports.

The Deputy Prime Minister said two new subzones of the Vulcanesti Free Enterprise Zone were created in 2017, in Ciadar-Lunga and Comrat. Another novelty is that the Government, following amendments made to the legislation, will be able to sign investment agreements to implement strategic projects for the national economy, which means additional guarantees for those interested in investing in Moldova.

The seven FEZes attracted investments of US$350 million, over US$62 million of which so far this year. This is an increase of 40% compared with the first nine months of 2016. The largest investments, of US$150 million, were made in the Balti FEZ. By US$70 million was invested in the Ungheni and Chisinau FEZes. “During the next two years, we expect investments of up to US$280 million to be made in the Balti FEZ as this has the largest number of subzones,” stated Octavian Calmac.

The production manufactured in the FEZes on October 1 came to US$3.7 billion lei and is projected to total over US$5 billion lei at this yearend. The products vary from chair covers, car cables to building materials and textiles.

“The FEZes are profitable industrial platforms that play an important role in the national economy and solve social problems. This year alone, they created over 4,000 new jobs” stated Octavian Calmac.