The rule of law and political stability are important for building a competitive investment climate in Moldova. It is also important to restore confidence in the banking sector that now has a very bad image outside the country, stated participants in a new round of discussions staged by the Economic Press Club on July 23, IPN reports.
Mariana Rufa, executive director of the European Business Association, said Moldova’s exports to the EU in 2018 would have been larger if the state institutions had invested in systems for tracing the products of animal origin. Such an action has been awaited for five years. The financial sector makes the national businesses non-attractive for investments. The insufficient investments in education and the training of staff needed on the market are also among the pressing problems. “It is very hard to find good specialists, economists, accountants,” stated Mariana Rufa.
Executive director of the American Chamber of Commerce in Moldova Mila Malairău said the Republic of Moldova can attract foreign investment only if it continuously improves the business climate. The justice sector reform and the fight against corruption are important factors that can help attract investment to the country. “Until the market does not protect the made investment, the investors will continue to have reservations or large investors would not be attracted,” noted Mila Malairău.
She stated the quality of infrastructure is also important as an increasing number of investors warn that the cost of doing business in Moldova has grown. The exodus of human capital is a major obstacle to investment. As regards opportunities, the country remains attractive and many investors are enticed by the potential of the market. But there is no qualified labor force. The people leave and sales decline.
According to Viorel Catană, manager of the state-owned air transport enterprise Moldaeroservice, the airport in Balti that reached a disastrous state owing to the lack of interest in it represents an investment potential for Moldova. A strategy should be worked out for developing the aviation industry in Moldova. Based on this, a plan for attracting investments for developing the airport could be drawn up. “The airport in Balti is an extraordinary project that could hold interest for investors as the capitalization of investments made in the aviation sector is at a very high level and could exceed the invested amount in several years,” stated Viorel Catană.
The nongovernmental organization Economic Press Club was launched in Chisinau this May to contribute to developing economic journalism in Moldova.
