Moldovan investment market is inadmissible for foreign investors, yet there is potential for growth

The Moldovan investment market is inadmissible for foreign investors, but there is potential for growth, says Hubert Pillet, activity manager of the Lafarge company in Moldova, which holds over 70% of the Rezina cement factory. According to Pillet it is not that simple for foreign investors to work in Moldova. He finds the legal and law-interpreting system does not encourage foreign investors and investments. At the same time, in his opinion, in the long run, Moldova is on the right track and there is growing potential. In the context, Pillet mentioned the problems the Lafarge Company has with the Rezina local administration. According to him, the company bought the quarry in that area, what was confirmed by the Government. However, the Rezina administration does its best to get the quarry back. Lafarge tries to appease the situation, has had meetings with the local administration representatives, has signed a sponsorship contract worth 1 mln lei, for a 10-year period, but the conflict is there, Pillet says. Hubert Pillet, who is a member of the Foreign Investors Association, says their experts are ready to contribute to adjust the Moldovan legal system, to make it more attractive for investments. The Foreign Investors Association from Moldova launched, later in October last year, the first edition of the White Book containing a general analysis of the investment climate in the country and offering recommendations to improve it. The publication also contains a description of the barriers on the way of direct foreign investment, of the administrative burden, the legal frame regulating the entrepreneurial activity, labour relationships, the fiscal system, as well as the stock market.