There are many opportunities for investors in Moldova right now – Edward Brown

There are many chances for investors in Moldova at the moment, because the regulatory reform opens opportunities and creates the necessary economic space where operators can activate, Edward Brown, WB Country Manager for Moldova states. Brown mentioned at a recently held press conference that although there are substantial improvements, and the World Bank “in general” is pleased, there are still many things to do. “The challenge for Moldova is to ensure sustainable growth and to reduce poverty, and in case the stress is laid on creating workplaces and increasing productivity, things will develop correctly”, the official said. At the same time, he mentioned that the Government should work more for re-launching agriculture. Together with other partners, the WB helped the Government of the Republic of Moldova to elaborate the Economic Growth and Poverty Reduction Strategy Paper (EGPRSP), approved in 2004. The assistance strategy of the WB for Moldova for 2005-2008 supports the implementation of the objectives included in EGPRSP by financing investment operations directed to poor persons and supporting the budgetary structural reforms which are necessary for a sustainable economic growth. The Ministry of Economy and Commerce plans to increase the investment share in economy by 25-30% and to increase yearly the volume of investments in fixed capital by 8-15% and to increase the direct foreign investments by at least 10%. At the same time, it is planned to increase the export of goods and services by 10-15% annually, expanding the range of exported products, as well as expanding and diversifying the export markets. These indexes will be reached as result of implementing a new Strategy on attracting investments and promoting exports for 2006-2015.