Government reiterates pledge to improve investment climate

The national legislation is based on the principle of nondiscrimination of investors as foreign investors are offered the opportunity to invest wherever they like on the territory of Moldova and in whichever sector they want, stated Prime Minister Vlad Filat at the 2010 Moldova Business Week, Info-Prim Neo reports. “Moldova is open to the attraction of investment, this representing the key factor for economic growth. This is why the Republic of Moldova establishes the attraction of investment as a priority in is economic policies”, said the premier. Vlad Filat further said that the Government is making efforts to enhance the business and investment climate by removing barriers and launching incentives for investment, like exemptions on income taxes, equipment purchase taxes. Moldova signed 38 bilateral agreements on the reciprocal protection of investments, 40 agreements on trade and economic cooperation and 17 free trade agreements within the CIS. The country enjoys autonomous trade preferences granted by the EU and negotiations are underway on a free trade agreement with the EU, the prime minister added. Economy Minister Valeriu Lazar said the 2010 Moldova Business Week events brought together some 600 representatives from 10 countries, including EU and CIS countries, the US, Canada and China. These are private investors as well as representatives of international economic and investment organizations. The minister went on to add that Moldova started to overcome the effects of the economic crisis, with some areas even seeing slight growth, but investments are needed to make the growth sustainable. Melanie Marlett, World Bank Country Manager for Moldova, handed to Vlad Filat the Top Ten Reformer Award, a distinction conferred on the top ten reforming countries as estimated by the World Bank's Doing Business Report. She informed that this week the WB Board is to approve a $25m funding in support to Moldova's budget, which will be channeled into a number of projects in agriculture, energy, road construction and other. The 2010 Moldova Business Week is taking place during June 21-25.