● MONDAY, June 23
Free Trade Agreement with EU will allow Moldova to diversify exports
Diversification of exports is the first and one of the most important results that will be achieved after the signing of the Deep and Comprehensive Free Trade Agreement with the EU, which is part of the Association Agreement, Deputy Minister of Economy Octavian Calmac said. Octavian Calmac noted that the accord enables the Moldovan businessmen to supply goods to a market governed by clear rules. It is a free and functional market that is much less affected by the political element than the eastern market. But the Moldovan companies must supply competitive products both on the EU market and on the home market.
Number of Moldovan millionaires goes up
A number of 231 persons earned incomes of over 1 million lei in 2013, as opposed to 224 a year before. The largest incomes declared by one person were 14.5 million lei. The youngest millionaire is 21, while the eldest one is 82. Of the 231 millionaires, only 26% are women. As regards the residence visa, 201 of the millionaires are from Chisinau. The figures were presented by the State Main Tax Inspectorate in a news conference. The Inspectorate’s head Ion Prisacaru said that 260,000 tax returns had been submitted in January – March 2014. Private individuals filed 161,000 tax returns, by 20,000 more than last year.
Legal entities declared incomes of over 243.972,1bn lei
The legal entities of Moldova declared for last year incomes of over 243.972,1 billion lei and expenses of 229.921,6 billion lei. Compared with 2012, the incomes rose by 85 million lei, while the expenditure by 73.24 million lei. Parascovia Chebotarenko, division head at the State Main Tax Inspectorate, told a news conference that the total profits earned in 2013 were 14.050,24 billion lei. The income taxes paid came to 1.38 billion lei.
● TUESDAY, June 24
Training center for attracting European funds opened in Chisinau
Representatives of the business community and NGOs of Moldova will be able to learn from European specialists how to work out investment projects and to attract European funds. The courses will be taught at the Resource Center for European Project that was founded in Chisinau based on a partnership between the National Institute of Economic Research of the Academy of Sciences of Moldova and the Center for Business Excellence Mangement Training of Romania. University lecturer Sorin Bocancea, European funds expert at the Romanian center, said the European funds are allocated not for particular purposes, as the governmental ones, but when projects are proposed. “As in Romania, in Moldova they must encourage a culture of projects. The money comes when one proves that certain investments are justified. We aim to form professionally persons working in the central public administration and the local one, in the business sector and for NGOs, which can access European funds at a certain moment,” said the Romanian expert.
● WEDNESDAY, June 25
Iasi-Ungheni gas pipeline will be managed by Vestmoldtransgaz
The Government accepted the Ministry of Economy’s proposal to found the state-run company “Vestmoldtransgaz”, which will manage the Iasi-Ungheni gas pipeline and will transport natural gas through this pipeline visa Moldova. The Ministry of Economy, which is the company’s founder, will transfer 8 million lei into the registered capital of Vestmoldtransgaz. Within 30 days, the Ministry will work out the constitution documents and will register the company.
Moldovan wines medal at Decanter World Wine Awards
The Moldovan wines won 13 medals at the Decanter World Wine Awards 2014 in the UK. The seven Moldovan wine producers got a silver medal, seven bronze medals and five “commended” awards. According to the National Office of Vine and Wine, the over 15,000 wines that competed in the contest were assessed by 224 members of the jury from all over the world, including 66 holders of the title Master of Wine and 18 holders of the title Master Sommelier.
European financing for Moldova
The Government approved the bill to ratify the financing agreement between Moldova and the European Union concerning the framework program in support of the agreements between the two sides. Based on this agreement, Moldova will receive €26 million for strengthening the institutional capacities, implementing the Association Agreement and for taking part in the EU programs. Also, the European Union will offer Moldova €21 million for carrying out the visa liberalization plan of action.
Damage of over 60m lei caused to state
Three companies on the verge of bankruptcy, based in the municipalities of Chisinau and Balti and in Floresti district, caused damage of over 60 million lei to the state. According to the General Police Inspectorate, accounting documents and computers containing information about the financial activity of the three companies were seized during searches at their head offices. At the offices of managers, the police confiscated different registers, files and draft double-entry bookkeeping documents.
Tax exemptions for Transnistrian economic entities
The companies in Transnistria will be exempted from paying taxes when performing import-export operations: import excises, customs duties and ecological taxes. The Government took such a decision following a relevant law adopted by Parliament on April 11, 2014. Deputy Prime Minister for Reintegration Eugen Carpov said that this subject is the main focus at the Transnistrian conflict settlement talks in the 5+2 format and will be put into practice by the Moldovan authorities.
● THURSDAY, June 26
Joint stock companies exempted from paying dividends into state budget
A number of joint stock companies in which the state owns a majority shareholding were exempted from paying dividends into state budget. Deputy Prime Minister and Minster of Economy Valeriu Lazar said that most of these companies are implementing large-scale investment projects and the dividends will be directed to carrying out these projects. The given companies are: the Chisinau Glass Factory, Floare Carpet, Cadastru, Moldsilva, and Tracom.
Customs procedures adjusted to European ones
The Government made changes to the normative documents, laying down transparent norms for implementing the active clearance customs regime in the case of companies that import raw material and process it in Moldova, exporting afterward the finished products. The import-export authorization will be provided to economic entities, no matter whether they have ownership rights over the raw material or not, on condition that the finished products are exported from Moldova.
Trains to Ghindesti to travel on bridge built with U.S. Government’s funds
A railroad line has been installed on the bridge situated near Ghindesti town of Floresti district, which is rehabilitated with funds provided by the U.S. Government within the Compact Program. By the end of the day, the trains will run on the new bridge already. Until now the trains travelled on the old bridge that will most probably be demolished. According to a press release of the Millennium Challenge Account Moldova, U.S. Ambassador William H. Moser said those who travelled on this road have waited for the new bridge for tens of years. He voiced hope that the next generations in Moldova will approve of the generosity of the American people who provided funds for modernizing the Sarateni-Soroca road, especially the bridge with railroad.
● FRIDAY, June 27
Integration into EU energy market is a key objective of Moldova, Iurie Leanca
Moldova’s integration into the European Union remains one of the key objectives of the Government, Prime Minister Iurie Leanca said in a meeting with European Commissioner for Energy Gunther Oettinger in Brussels. The discussions centered on the identification of projects aimed at ensuring Moldova’s access to new sources of natural gas and energy. The officials spoke about the completion of the construction of the Iasi –Ungheni gas pipeline. The European commissioner agreed to take part in the ceremony to put the gas pipeline into commission, scheduled for the end of August.
Departure lounge of Chisinau airport terminal to be extended
The company “Avia Invest” is extending the departure lounge of the terminal of the Chisinau International Airport. A new waiting area was set up on the second floor, available for those who went through customs control. “Avia Invest” manager for relations with the clients Arina Maftei said the company wants to ensure passengers’ comfort by offering enough space for relaxation before travelling.
Lazar: Association Agreement means investments, jobs and financial support for producers
The signing by Moldova of the Association Agreement with the EU, which includes the Free Trade Agreement, lays the foundations for Moldova’s rapid development and will contribute to increasing the country’s attractiveness before foreign investors. This will ensure well-paid jobs and more money collected into the budget. Within the Free Trade Agreement, the EU will provide hundreds of millions of Euros in financial assistance for Moldovan producers, Minister of Economy Valeriu Lazar said in Brussels after the signature of the accord. “The agreement will launch the transformations we expect,” Valeriu Lazar stated, saying that until now the foreign investors were more precautious about Moldova because it didn’t ensure safety.
● SATURDAY, June 28
Ten public institutions to implement energy efficiency projects of 23m lei
The Energy Efficiency Fund has signed contracts for financing energy efficiency projects to the value of 23 million lei with ten public intuitions of Moldova. 80% of the money is offered by the EU as a grant, while 20% of the costs are covered with money from the funds of the ten public institutions. Head of the Political and Economic Section of the EU Delegation to Moldova Wicher Slagter said the EU offers financial support for optimizing energy consumption. “The ten projects will be implemented in the public sector and are aimed at thermally insulating the buildings and at replacing the existing heating systems with more modern one,” said Mihai Lupu, director of the Energy Efficiency Fund. He added that the investments in the area of energy efficiency will be recouped in seven years, while in the area of renewable sources of energy – in 15 years.
State budget to be amended
The Government proposed amendments to the 2014 state budget following a rise of about 940 million lei in revenues: by 898 million lei in the basic incomes component and by almost 44 million lei in the special means component. The state budget expenditure will rise by 1 billion lei. As a result, the deficit will grow by 130.7 million lei. Some types of the revenues in the basic incomes component increased, while others decreased. Minister of Finance Anatol Arapu said the amounts collected as excises on beer declined owing to the reduction in the volume of beer drank, excises on cars owing to reduced imports and excises on tobacco.
