German investors point out constraints they face in Moldova

German businessmen who invest in Moldova or who would wish to, point out some of the constraints they have to face. They were listed during a meeting of Minister of Economy Valeriu Lazar with Eckhard Cordes, chairman of the Committee for economic relations with Eastern Europe, and a group of German investors, Info-Prim Neo reports. According to a press release of the Ministry of Economy, the participants in the meeting discussed about the exaggerated number of control procedures and that more trustworthy and quicker customs procedures would be needed. The Germans also spoke about the necessity to improve infrastructure and to assure proper training for specialists. Another obstacle for foreign investments in Moldovan agriculture is the ban on selling land to foreigners. Valeriu Lazar said that this was a sensitive topic, but assured that the Government was examining the best international practices in this domain to find adequate solutions. The Minister of Economy also announced a new round of privatizations that will take place this fall and invited the German businessmen to participate in this process. By the end of the meeting, the sides agreed to maintain a continuous dialogue for the benefit of German and Moldovan citizens. In the first half of the year, the total volume of trade between the two countries was over $222 million. In Moldova, there are 167 companies with German capital and the amount of German investments rises to €66 million. The biggest Moldovan companies with German capital are Sudzucker-Moldova, Mabanaft-Moldova, Knauf, Metro, Steilmann, Draxlmaier, ProCredit Bank and others. In 20 years of cooperation, Germany implemented in Moldova programs of non-refundable technical assistance of nearly €40 million.