Moldova’s construction industry sees slowdown

Construction activity in Moldovan is experiencing a slowdown, says Leonid Cerescu, chairman of the National Employers’ Confederation (CNPM) “Today this reduction is not so obvious, but more and more constructors are complaining of it; many have already resorted to pay cuts as it becomes more and more difficult to sell the buildings, especially residential ones”, he says. Cerescu remarked that the situation is not so bad as to send workers on forced leave, even though some building material manufacturers halted production, “they are now using their stocks. Anyway, there’s little work during the winter”. Concerning the statements made by Economy & Trade Minister Igor Dodon on Friday at a meeting with CNPM’s Board that the amount of work in industrial construction has rose threefold lately, Cerescu estimated that construction of production and office space could indeed rise. He thinks that some businessmen, especially foreign ones, prepare to re-channel their money into production, where profits are lower yet less volatile than on the stock exchange or in trade. Cerescu also added that despite an anticipation of a massive return of migrant workers due to the financial recession, so far the Moldovans working in the construction industry have proved this theory wrong. But Cerescu appreciated the Intention of the Government, revealed by Dodon, to launch a series of large-scale infrastructure projects next year, which could involve the Moldovan builders, including the specialists who, having lost their jobs abroad, could return home. Saluting the initiative, however, the CNPM’s Board highlighted the need for ensuring maximum transparency in government tenders for the purchase of construction services.