R. of Moldova and Spain sign agreement to stimulate investments

The Ministry of Finances publicized an informative note mentioning that last week in Madrid a draft agreement between the R. of Moldova and Spain on avoiding double imposing and preventing fiscal evasions concerning income and capital taxes was negotiated and signed. While negotiating the convention, the sides followed the position of a legal frame favorable for stimulation of mutual investments, for according assistance to their residents for placing investments abroad, as well as for solving fiscal problems. Spain is one of the greatest foreign investors from the R. of Moldova. The main Spanish investor is the Union Fenosa company, which privatized Electric Networks of South, Center and Chisinau. In the first semester of the current year the R. of Moldova attracted direct foreign investments of more than USD 111 mln.