The Republic of Moldova is strongly connected to the international economic circuit and its economic prospects depend on what will happen to the regional economy and the world economy. It’s yet certain that Moldova has very good positions as regards the macroeconomic stability, despite all the impressions left by politicians.
Moldova has a stable banking state, does not experience currency shocks, does not have problems with the state debt and the budgetary system. “In the current conditions, this is also an indicator and a criterion that can be considered by investors when they choose a destination. In general, we are now a country that can be a good destination for investments, both from macro-economic viewpoint and from the viewpoint of the multiple free trade agreements, with the EU, the CIS and other parties,” Prime Minister Ion Chicu stated in the Moldova Business Week, being quoted by IPN.
He noted that the COVID-19 pandemic contributes to combining forces for supporting the traditional sectors and also the new sectors, such as the digital one. Currently, most of the employees in “Moldova IT Park” are young people with an average salary of 30,000 lei. Despite the most profound decline witnessed in the second quarter of this year, Moldova’s economy in 2021 is expected to follow a positive trend.
The Head of the EU Delegation to Moldova Peter Michalko said the EU in 2019 strengthened its position of the biggest trade partner of Moldova. 64% of Moldova’s exports went to the EU last year and the trends are similar this year. Since the introduction of the Free Trade Area, Moldova’s exports to the European Union have grown. In 2019, 1,937 Moldovan companies exported to the EU, which is a 48% increase on 2015. The EU’s FDI in Moldova have increased continuously, even doubled.
According to the ambassador, for this trend to continue and for Moldova to benefit from more foreign investments, the business climate, the legislative predictability and stability and the rule of law are important. The Association Agreement and DCFTA Moldova are the best instruments for attracting international investors and for encouraging also internal investments.
Rodica Verbeniuc, director general of the Investment Agency, noted that during the pandemic the Agency assumed the role of guiding the local business community on the path of transformation and adjustment to the new economic reality. There were launched online platforms where the foreign investors could contact with Moldovan businesses and built partnerships. During Moldova Business Week 2020, the participants will discover partnership offers and many convincing reasons to develop the business in a sustainable way in Moldova.
The event continues on November 20.
