A number of 192 state-run enterprises and 71 joint stock companies in which the state owns shares and which were founded by ministries or other central administrative authorities subordinated to the Government will be transferred under the management of the Public Property Agency based on the law on state-owned enterprises and municipal enterprises that was adopted on November 23, 2017, IPN reports.

The law stipulates that the duty of founder or shareholder in the name of the Government is performed by the Public Property Agency that is now directly subordinated to the Executive, not to a minister, as earlier.

The transfer period is six months of the adoption of the law and of the Government decision on its implementation that was approved last yearend.

Among the 203 entities that will be transferred are such well-known companies as the Milestii Mici Wine Complex, “Moldova’s Greenhouses”, “Moldtelecom”, “Frazeluta”, “Moldexpo”, “Tracom”, and “Alimentramas”.

Over 40 of the 203 state-run enterprises and joint stock companies are under insolvency procedures.  

The transfer operation will imply costs related to the registration of changes in the Register of Legal Entities and Individual Entrepreneurs that is kept by the Public Property Agency.

A decision is to be taken as to the future of these companies. As the state is not the best manager, the list of companies proposed for privatization could be extended significantly.