The launch of a large-scale investment project in Moldova was discussed in a meeting of Minister of Economy Octavian Calmac and the director general of Kaufland Romania Marco Hößl. Until 2020, Kaufland intends to open six stores in the municipality of Chisinau and invest €60 million for the purpose, IPN reports.

According to the Ministry of Economy’s press service, Octavian Calmac assured Kaufland of the Ministry’s support and spoke about the conditions offered to the foreign investors, mentioning such actions as the elimination of administrative constraints, provision of such concessions as VAT refund on long-term capital gains, and exemption from VAT and customs duties of assets that are to be included in the company’s share capital. Among the advantages, there were noted the income tax of 12% and deduction of costs for food, transport and training of employees.

For their part, the representatives of Kaufland expressed confidence that the investment project that they intend to implement in Moldova will be a successful one. Moreover, the company plans to extend its area of activity at the local level. It has opened an office in Chisinau and is looking for plots where to erect its shops. It also discusses with local companies the possibility of supplying Kaufland with products from Moldova and Romania.

Kaufland is one of the largest retail companies in Europe. It forms part of the German concern Schwarz-Gruppe that includes such known networks as Lidl and KaufMarkt with over 200,000 employees in Europe. The company runs more than 1 000 shops in Germany, the Czech Republic, Slovakia, Poland, Croatia, Bulgaria, and Romania. In 2014, Schwarz-Gruppe became the largest retail group in Europe, with a turnover of nearly €80 billion.