“Without investments we cannot hope to modernize the economy, increase the export potential and create new attractive jobs,” Prime Minister Iurie Leanca said at the beginning of the June 11 meeting of the Government, IPN reports.

Leanca said that he took part in the opening of the Vienna Economic Forum held in Chisinau and, in the context of the discussions and stated opinions, underlined that the major objective of attracting foreign direct investment to the economy will not be achieved if the administrative burden on the economic entities is not reduced.

“We have many regulations concerning entrepreneurial activity – about 10,000. Many of them are outdated. That’s why when a new regulation is worked out and approved, two old ones should be eliminated or a mechanism should be suggested for reducing the time and costs implied by the regulations.

The Premier stated that these ideas were structured in a draft decision of the Government, which is to be discussed with the working group set up under the commission for the promotion of the state entrepreneurial regulations reform and will be then examined and approved by the Cabinet.