RETROSPECT OF THE WEEK 3 – 7 July. The most important IPN “Economy&Business” news

[● Monday, July 3] [Viaduct opens two weeks earlier than planned] The repair works of the bridge connecting the districts Centru and Botanica of the capital will be finished two weeks earlier than it was scheduled. The deputy head of the General Public Transport and Communications Department, Alexei Varlan, announced that the bridge will be opened on August, and not on August 15, as it was planned before. [Oil Importing Companies intend to import biodiesel to Moldova] Oil importing companies request the Government to adjust the normative system and the internal standards of Moldova to make possible the import of biodiesel according to international practices. [“Eurofarmaco” is the only specialized company in Moldova which exports its products to Romania] During the Romanian Economy Days in Moldova that took place the last week, at I.E.C. „Moldexpo”, Tatiana Petrov, the general director of „Eurofarmaco” , stated that this is the only pharmaceutical company from Moldova that exports its products to Romania. [Mortgage market of Moldova developed significantly – experts] The experts of the Ministry of Economy and Commerce (MEC) state that the mortgage market of Moldova developed significantly lately, being based especially on the competition principles of the market economy. [Tariffs approved by the Ministry of Transport generate disapproval among transporters] The transporters of the country are unpleased of the increase of the tariffs for passengers’ and luggage transportation on the regular routes approved last week by the Ministry of Transport and Road Management (MTRM). [Walnut trees might become a gold mine for Moldova – Prime Minister] The prime-minister Vasile Tarlev thinks that the walnut trees branch might become a gold mine for the Republic of Moldova, declaration made during the working session regarding promoting and implementing policies in the field of walnut tree plantations. [National Bank of Moldova canceled the license of „Businessbank”] The National Bank of Moldova (NBM) canceled the license of the commercial bank “Bussinessbank” regarding its financial activity, on the request of the liquidation Commission of the bank. [Moldovan Stock Exchange registered outstanding development in June] The overall value of the stock exchange market has increased in June to 86.62 million lei, compared to 9.33 mln lei in May. [Exchange 32-index set by NSC unchanged during the last month] The 32- exchange price index set by the National Securities Comission has remained unchanged for the last 4 weeks and it reaches 292.89 points. [* Tuesday, July 4] [Moldova is offering good opportunities for cooperation in different fields – banker] Moldova is offering good opportunities for cooperation in different fields, especially in the textile field, processing of agricultural goods and infrastructure, the president of the Romanian Commercial Bank (BCR) of Chisinau, Dan Stelian Mocanu, stated at the Romanian-Moldovan Business Forum, held within the Romanian Economy Days in RM. [Italian Company „Engineering consulting” to build the Waste Processing Plant of Chisinau] The Italian Company STR “Engineering consulting” SRL was recently designated, by the Municipal Tender Commission, as the entrepreneur to build the Waste processing Plant of Chisinau municipality. [Moldovan producers will have new opportunities to develop business relations in Germany] The Moldovan Exhibition Company, „AXAR”, the official representative of the German exhibition complex “Messe Düsseldorf GmbH” from Dusseldorf, organizes the traditional visit of Moldovan specialists and businessmen to several exhibitions that will take place in Germany, in the period September 24-27. [Patronages waiting for Government’s reaction regarding the contestation of the payment method of the sick leave] The National Confederation of Patronages (NCP) is waiting for a reaction from the Government regarding the contestation by the Tripartite Commission Government-Trade Unions-Patronages of the project aiming at amending the Law from July 2004 regarding the indemnities for temporary work incapacity and other social insurance services, which include new methods of paying the sick leave for employees. [World Bank will support RM in reducing gas price related impact] The World Bank (WB) expressed willingness to offer support to the Moldovan Government in reducing the impact on the population related to the increase in price for natural gas. This statement belongs to the Executive Director of WB, Jan Willem van der Kaaij, during a meeting with Premier Vasile Tarlev. [Nine more business organizations came on the oil market] In the first semester of the current year The National Energy Regulatory Authority authorized nine business organizations to join the oil market. [„Voxtel” claims that the issue of the license for “Moldtelecom” is a political action] The decision of the National Regulatory Agency in Telecommunications and Informatics (ANRTI) to offer the license to “Moldtelecom” Joint Stock Company is a political measure and, as it was taken without any contest, it aims to consolidate the status of the state enterprises. This is what Francis Gelibter, the GENERAL DIRECTOR OF „Voxtel” Joint Stock Company stated on Tuesday, July 4. [*Wednesday, July 5] [Efes Vitanta launches bar and restaurant network in Chisinau] The Company Efes Vitanta Moldova Brewery (EVBM) launched for the first time on the local market of Moldova a project leading to contribute to increasing the beer consumption culture. Thus, the company launches a network of bars and restaurants in Chisinau. [Moldova is ranking high in a top regarding industrial production decrease in CIS] The industrial production in Moldova has decreased, within the period January-May 2006, by 6.9%, compared to the same period of 2005, according to data presented by the CIS interstate committee. [Wine and divins factory „Kvint” of Tiraspol is for sale] The wine and divine factory „Kvint” of Tiraspol is will be sold for over 21 million dollars or about 175 million Transnistrian rubles. [Exchange market of Moldova is dominated by the construction sector] The stock exchange market of Moldova was dominated on Tuesday, by the construction sector. Only 3 transactions with assets issued by 2 societies were registered on the market. [State budget accumulations got over the planned level by 10%] In the period January–June 2006, the basic incomes in the state budget amounted to 4,001,700 lei, representing 110% of the planned level for this period. Compared to the same period of 2005 it increased with 594.9 million lei or by 17.5%. [Moldova will remain vulnerable to the pressures of Gazprom. IPN Interview] [Info-Prim Neo interview with the director of Foreign Affairs Programs and Political Analysis of the Independent Analytic Center “Expert-Grup”, Alexandru Opruneneco.] [-How do you appreciate the negotiations of Moldovan officials with the Russian concern “Gazprom” and their results?] It’s a pity to say, but the negotiations took place in a non-transparent manner. We find out more information from the Russian press, rather than from Moldovan officials, including about the offers of investment projects of the Government for Gazprom. The Moldovan Government has a vulnerable position in these talks that is why it is appropriate that our officials to ensure a maximum transparency in this process. Sometimes the Government creates the impression that it comes every time unprepared at the negotiations. More, the Government has no strategy for administrating the consequences generated by the negotiations. Moldovan officials must always have a plan “A”, in case of success and a plan “B” in case the proposed objectives are not fulfilled. If speaking about the results of the negotiations, because the Government accepted the price of 160 USD / 1000 cubic meters, it did not succeed to draw up a clear formula for calculating the price for natural gas and to sign a long term agreement in order to ensure the certitude of final consumers. [Shares of the Wood processing Plant of Taraclia were the most profitable in June] The most profitable shares transacted at the Exchange Market of Moldova were in June 2006 those of the Wood Processing Plant of Taraclia with a monthly profit rate of 425%, according to the profit top for June, issued by the Rating and Estimation Agency „Estimator-VM”. [European Union concerned about Russia’s expansive energy policy] The expansive energy policy of Russia concerns more and more the European Union, which decided, when inaugurating the Finish Chairmanship, to speed up the pace of the construction works related to the gas pipe Nabucco, in order to reduce the dependence upon Russian natural gas, Romanian press writes, quoted by Info-Prim Neo. [*Thursday, July 6] [Mobiasbanca celebrates 16 years of activity] One of the first banks with private capital of the Republic of Moldova, Commercial Bank Mobiasbanca, marked recently 16 years of activity. According to the Department of Development and Market of Mobiasbanca, at the moment, the bank holds the 5th position if taking into consideration the volume of assets which constitutes 8.02%. At the same time in 2055 Mobiasbanca showed the highest rhythm of assets’ increase in the banking system of Moldova 73%, having a considerable increase of its share on the market, from 6.1% to 7.8%. The specialized magazine B&F – Profit placed Mobiasbanca on the first position in the 2005 ranking of banks’ security. [Producers do not manage to obtain good results in cultivating walnut trees without state’s support. IPN economic analysis] Without the financial assistance of the state, without serious support programs for producers and lacking certain investments Moldovan entrepreneurs will not manage to obtain good results in cultivating walnut trees, the chairman of the Union of Walnut Trees Producers Associations, Alexandru Jolondcovschi declared. [Belarussians interested in creating potato producing joint companies with Moldova] Byelorussian scientists proposed creating a joint Moldovan-Byelorussian company in order to produce potatoes and further selling the production on the Byelorussian market. Byelorussian scientists participated at a seminar that took place at the beginning of this week at the Institute of Scientific Researches in the area of phytotechnics of Pascani commune. The scientists took notice of the experimental plots of the Phytotechnics Institute, where 13 sorts are tested by the scientist from Byelorussia. [Exchange market stagnating] The exchange market of Moldova registered stagnation on Wednesday, as reaction a to latest “hot” sessions, according to the report of the Rating and Estimation Agency „Estimator-VM”. According to agency’s experts, such evolution became already normal for the Exchange of Moldova. As result of many important transactions, where significant profits are made, a relaxation period follows. [* Friday, July 7] [Significant increase in price of Victoriabank shares] The price for the shares issued by the commercial bank “Victoriabank” has registered an increase, reaching to 110 lei/share. This is the first significant increase after the dramatic decrease in February 2006, when the price dropped from 250 lei to 150 lei/share. [The interest in the construction companies increases at BVM] The Exchange of Moldova made on Thursday, July 6, 6 selling-buying transactions, 5 of them were with shares issued by the construction companies of Orhei, Cimislia, Csinau and Durlesti. [● Saturday, July 8] [Moldovan businessmen are offered opportunities of cooperation with Dutch] Chamber of Commerce and Industry (CCI) of Moldova announces a tender for the Program for Cooperation with Emerging Markets, implemented by the Dutch International Cooperation Agency (EVD) and financed by MFA of Netherlands. According to CCI, this program is aiming at increasing the private sector by funding equal partnership and building co-projects with innovation character between economic agencies in Moldova and Holland. Victor Bors, CCI responsible for informing and consulting Moldovan businessmen, has told Info-Prim Neo reporter that the program is firstly addressed to companies that already set business relations with Dutch enterprises, in order to extend their partnership. Still companies which didn’t participate in this Program may submit requests as well. The maximum budget for every project is of EUR 1.5 million, from which EVD finance the 50% (maximum EUR 750 thousand), the rest is paid by the Moldovan partners of the project. The covered sectors are: media and energy, infrastructure, tourism, agriculture, informational technologies, industry, services, offers and innovations. [● Sunday, July 9] [Voxtel invests in developing its networks] Director General of “Voxtel”, Francis Gelibert declared that extending the networks in the district centers and rural localities is a priority for 2006. Gillbert states that in this way the investment policy is continued, including in extending the coverage area and launching new technologies. He specified that in the first half of 2006, 10.3 million USD were invested in the implementation of this policy, and by the end of the year the volume of investments will reach 20 million USD. The French manager made these declarations at the meeting with the prime-minister Vasile Tarlev, at the end of the week. According to a press release of the Governement, Francis Gilbert appreciated the collaboration with the Ministers’ Council, fact which contributed to creating advantageous activity conditions for the mobile telephony company “Voxtel”.