International Finance Corporation supports improvement of investment climate in Moldova

A project to improve the conditions of running businesses so as to attract investments, especially in the field of agriculture, was launched by the Ministry of Education in partnership with the International Finance Corporation (IFC) and the Embassy of Sweden in Moldova, Info-Prim Neo reports. Deputy Prime Minister and Minister of Economy Valeriu Lazar said that the project has three components. The first component aims to improve the investment climate in Moldova, mainly to reduce the number of inspections at companies and the price of authorizations for performing entrepreneurial activities, and to improve the procedures for liquidating the companies (insolvency). The second component refers to the improvement of the regulations in agribusiness. The third component centers on the attraction of investments to the sector. “The specific feature of this project is that the results will be measured. When the project is completed, the number of inspections at companies will be by 10% lower, while the price of authorizations will be also by 10% lower. I think it was an inspired initiative to name the International Finance Corporation as implementing agency,” said the minister. The US$2.5 million project will last for three years. It will be financed by the Governments of Sweden, Austria and the Netherlands. Swedish Ambassador to Moldova Ingrid Tersman said the Swedish businesspeople are interested in coming to Moldova. This will happen when the improvement of the business climate will include the justice reform. IFC Director for Europe and Central Asia Tomasz Telma said that the development priorities of the Government of Moldova principally coincide with those of the IFC, including as regards the development of the agrarian sector and agribusiness, and the improvement of the business climate and deepening of the regulatory reform in this sector and in all the sectors of the national economy can be a powerful argument for attracting investments to Moldova.