About 1,500 investors, backers, importers and exporters from Moldova and another 30 countries are taking part in the Moldova Business Week 2018 that is taking place in Chisinau during November 27-29. Organized by the Investment Agency under the Government’s aegis, the three-day event, which is at its fifth edition, will include lectures and sessions centering on the investment potential of the strategic branches of the national economy, IPN reports.
Attending the opening of the event, Prime Minister Pavel Filip said the Business Week is a forum that comes to present new business and investment opportunities in the Republic of Moldova. A series of reforms were done to improve the business environment and they were done together with the business community, which is important. The approved fiscal policy ensures predictability in the business sector. The pressure exerted on the business sector by institutions with inspection duties, especially the police, was reduced, as was the number of such institutions.
Following the promoted reforms, a constant economic growth was witnessed. In the second quarter of this year, the growth reached 5.2%. The number of persons who receive salaries illegally declined two times, while exports grew by 30% and foreign direct investment of about US$ 130 million was made in only half a year. Investments of US$ 380 million are expected to be made during the next two years. “The figures are actually the best arguments. They do not need to be explained. The figures never lie and are favorable to us as they show the results of the not at all easy reforms we launched,” stated Pavel Filip.
Rodica Verbeniuc, director general of the Investment Agency, said the Agency today launches the country investment brand “Life Tree” that grew and expanded its crown with new solid branches that represent strategic sectors of the national economy. It is the brand of an umbrella program that will combine the forces of the state, the business community, the citizens and the diaspora so as to promote Moldova and attract foreign capital. The initiative is based on the natural development through which Moldova goes and the wish to strengthen the identity as an emerging, competitive market attractive to investment.
Minister of Economy and Infrastructure Kiril Gaburici said the attraction of investment creates opportunities for ensuring the country’s economic growth. That’s why, in cooperation with the business community, the current Government implemented a series of reforms and policies aimed at improving the investment climate. Among the most important ones are the reduction in the number of permissive documents for business entities, the digitization process, implementation of the one-stop shop etc. The authorities want Moldova to become attractive to investors.
National Bank governor Sergiu Cioclea stated the banking system was cleaned following the banking fraud and the robbing of the three banks and now became more robust and powerful for investment and the people have confidence in banks. The banks in Moldova possess €1.5 billion that waits to be invested. This is a huge reserve that will form the basis for the future investment.
SE Bordnetze SRL financial director Igor Corman, who served as Parliament Speaker in May 2013 – December 2014, said good working conditions for foreign investors were created in Moldova. The investments bring jobs and money into the state budget. Moldova is attractive owing to the accessible labor force. The company he represents has over 2,300 employees and still need about 800. It is important for high-quality labor force to exist.
Thierry Landry, senior business manager at the French company Akka Romsery, said the company has branches in 24 countries plans to enter Moldova with an engineering business. In Moldova, the universities offer good theoretical training, but practical experience is also needed.
