Industrial Parks to be set up for 15 years at least

The industrial parks that will be founded in Moldova shall work for a period of 15 years at least. This amendment was introduced in the second reading of the draft, which was adopted by Parliament at the end of last week. The author of the amendment, MP Valeriu Guma, said that a fixed minimum term of operation will prevent cases where industrial parks are closed down after 2 or 3 years of substantial investments. Industrial parks will be created in Moldova in delimited areas where industrial activities will take place and services rendered. The draft law stipulates ensuring optimal conditions for developing business activities in the parks, with the central and local authorities charged to provide the adequate infrastructure. The industrial parks will be created on the basis of the assets withdrawn, according to the legislation, from the state-run enterprises, municipal companies, joint-stock companies in which the state or the local public administration owns at least 75% from the transferable securities, and from the plots of land, free from buildings, that are owned by the state or the local public administration. Also, the draft law provides that investors that will respect transparent criteria and requirements will be attracted in the industrial parks, the goal being to launch/expand export-oriented production activities and service rendering, import replaceable merchandise production, high-technologies using know-how transfer. The parks will be constituted for a term of less than 50 years, but term extension will be possible. According to the Government, the industrial parks aim at creating additional opportunities for the investors to launch investments and to capitalise the existent potential, and to facilitate the access to cheap production agents.