Moldova in the middle of Investment Reform Index 2010

Moldova takes a position in the middle of the Investment Reform Index (IRI) 2010 compiled by the Organization for Economic Cooperation and Development (OECD), Info-Prim Neo reports. Using an innovative methodology, the IRI 2010 monitors investment-related policy reforms in the economies of South-East Europe and compares these to best practices in the OECD area. It provides a qualitative assessment of policies and institutions that critically affect the environment for direct investment in 10 economies in South East Europe. Based on inputs from governments, the private sector, independent experts and multilateral organizations active in the region, the IRI assesses policies and institutional settings in eight fields of policy critical to domestic and foreign investors. These are: investment policy and promotion; human capital development; trade policy and facilitation; access to finance; regulatory reform and parliamentary processes; infrastructure for investment; tax policy analysis; and SME policy. The assessment was carried out during two months. Both the opinions of persons working in state institutions and businessmen were taken account of. “In some fields, Moldova's position is above the average, while in others – below,” OECD representative Antonio Fanelli told a news conference. The OECD experts stressed that Moldova made progress in improving the legislation on the attraction of foreign investment, but a final decision should be made as regards the proposal to sell farmland to foreigners that was submitted recently. They also underlined the necessity of improving the eduction system so as to satisfy the demand on the labor market. Deputy Minister of Economy Sergiu Ciobanu said many of the recommendations made by the OECD have been included in the Rethink Moldova program that was presented at the Donors Consultative Meeting in Brussels in March. “The Index did not take into account the reforms implemented by the Government during the last few months to remove the barriers hindering the export of certain products, reduce the number of obligatory certificates. We hope next year Moldova will have a better position,” Ciobanu said. The IRI 2010 covers Albania, Bulgaria, Bosnia and Herzegovina, Croatia, Kosovo, Moldova, Macedonia, Montenegro, Romania, and Serbia.