Most important Economy & Business news by IPN
● MONDAY, August 19
Chisinau Airport has a new owner
NR Investments Ltd, a Channel Islands property investment vehicle formed in 2007, has agreed to acquire 95% of the concession company of Chisinau International Airport. Agreement was ratified today between representatives of Avia Invest LLC and NR Investments’ sole beneficiary, Nat Rothschild. According to a press release from the new owner, NR Investments has an extensive experience in Central European property and infrastructure investments. Prior investments include Porto Montenegro, an award-winning super yacht marina; Trigranit, Central Europe’s largest real estate developer; the Korda Studios film complex in Budapest, Hungary, as well as multiple stand-alone developments.
Funds for "Good Roads 2" to be recalculated
The funds allocated for the "Good Roads 2" program will be recalculated, and issued to each settlement on a per capita basis. The statement was issued by Gheorghe Curmei, director of the State Road Administration, after the Road Fund Council meeting. The State Road Administration commenced works on April 10. According to the Law on the state budget, 950 million lei were foreseen for "Good Roads 2. At the same time, the program value approved by the Road Fund Council is 1,750 billion. "The recalculation will be based on the 950 million amount, as foreseen by the budget. A part of the amount, 280 million lei, is due for the works executed in 2018”, said Gheorghe Curmei.
● TUESDAY, August 20
Chisinau-Ungheni Road will not be ready this year
The construction work of Chisinau-Ungheni road segment will last at least until next year. The reason is that one of the contractors performing the work on this section has financial problems. The project contract was signed in 2014, expiring in 2018. The statements were made by Gheorghe Curmei, the State Road Administration director, during a press conference. "In Chisinau-Ungheni segment, there are two contractors conducting the works. One of the companies has serious financial problems. It has been under monitoring since the beginning of the year”, Gheorghe Curmei says. According to him, the road is 80% completed from Ungheni to Călărași, while in Călărași-Chisinau region, the road remains to be constructed only within the built up area of Sipoteni, Călărași, Bucovăț, Vatra and Strășeni.
Number of export authorizations for Russia increased by about one thousand
Russia has increased by 1250 the number of authorizations for the bilateral transport and transit of goods granted to Moldovan carriers and by 100 - for the irregular passenger transport, for the III quarter of 2019. At the same time, for the Russian side the existing quota was increased by 1000 authorizations for the transport of goods to and from third countries. The decision was taken at a meeting of the Moldovan-Russian Joint Commission on International Road Transport.
Government will try to renegotiate Airport concession, Minister
The return of Chisinau International Airport to state management is an important item on the agenda of the Moldovan Government. Minister of Economy and Infrastructure Vadim Brînzan told a press conference today that he would try to negotiate the concession contract with the new owner. The minister specifies that the return of the airport to the state administration is a very complex procedure, which can take years. "While the state will be involved in lawsuits over the reparation for the airport concession fraud, the new owners will continue to make money on the citizens' back, through the 9-euro fee paid by each passenger on departure," the minister said. Vadim Brînzan maintains that the state does not have the legal leverage to influence the sale transaction of 95% of Avia Invest, the airport concessionaire, to NR Investments Ltd.
Vadim Brînzan: State pays the bill for the former government’s electoral charity
The Moldova Government is considering the possibility of coming up with winter-season payouts for low-income people, in order to compensate the increase in electricity tariffs. The statement has been made by the Minister of Economy and Finance Vadim Brînzan, who, during a press conference held on August 20, declared that the state would thus pay the former government’s bill for the electoral charity and the pressures exerted on the National Regulatory Energy Authority (ANRE), IPN reports. "This increase should have been made half a year ago. The former government has influenced ANRE to postpone this decision, creating a 20-million lei energy supply budget deficit”, the Minister of Economy said.
CNFP proposes capping costs related to non-bank loan or financial leasing
The costs related to a non-bank loan or financial leasing, whether it is interest, commissions, penalties, etc., could be limited so that they do not exceed the value of the original loan. The proposal is included in a draft law developed by the National Commission for the Financial Market (CNFP). "If someone borrows a thousand lei, he/she shall reimburse no more than two thousand lei, irrespective of the amount of penalties, interest, commissions, etc.," Iurie Filip, CNPF deputy chair, said at a press conference. According to him, although the sector of non-bank lending organizations (OCN) follows an upward trend, there are certain risks associated with this spectacular development, the most notable one being the over-indebtedness of the population.
● WEDNESDAY, August 21
Two- to five-year loans are most in demand
In July, new issued loans amounted to 2 850.4 million lei, up 14.9% compared to the same month last year. The share of credits granted in national currency represented 72.7%, while foreign currency credits represented - 27.3%. According to data from the National Bank of Moldova, the most attractive loans were granted for two- to five-year terms. 50.1% of credits granted in national currency were taken out by legal entities. Loans in foreign currency were mainly requested by non-financial companies - 94.3%.
● FRIDAY, August 23
Several transport operators threaten to strike
Several passenger transport companies announce that they are in solidarity with the Employers Association of Transport Operators and with other 55 transport companies, which issued a request on August 20. If the authorities do not adjust tariffs for passenger services, they will go on strike. In APOTA's request to the Ministry of Economy and Infrastructure, it is argued that the delay of tariff adjustment leads to the destruction of this industry. "We no longer have drivers, because we cannot guarantee them a decent income. We have no more transport units, because current revenues do not allow us to upgrade the vehicle fleet. We have neither locksmiths nor mechanics nor welders nor dispatchers, because people with such qualifications quit our companies", the request reads.
● SATURDAY, August 24
Refilling of gas cylinders at PECO stations is prohibited
Refilling at PECO stations of domestic gas cylinders with liquefied petroleum is not allowed according to the provisions of the effective legislation. The Ministry of Economy says this, in reply to IPN Press Agency, as a result of several notifications from citizens about the impossibility of refilling their domestic stove gas cylinders at the gas stations. Thus, according to the Ministry of Economy, the bottling of gases in cylinders for domestic or technological uses is carried out at distribution and bottling stations for liquefied gas (SDÎG) or at bottling stations for liquefied gas (SÎG). Also, the filling, the transport, the periodic technical verification, etc. of these cylinders, is performed by specialized companies that have the approval of the expert body in the field of industrial security.
Over three and a half thousand appartments put into operation in half a year
In the first half of this year, 3676 apartments and individual houses were put into operation, with a total area of over 270 thousand square meters. The number of houses is on the rise by over 30%, compared to the first semester of last year, informs the National Bureau of Statistics. According to the NBS, in the urban area 3287 dwellings have been put into operation, with 29.4% more compared to January-June 2018. In the rural area, 389 houses have been put into operation, with 34.7 % more compared to the same period of 2018.
