A number of 21 reforms could improve the business environment and increase investments in the Republic of Moldova. The conclusion was presented in the policy study "Improving the business environment - stimulating investments: proposal of European companies from Moldova", carried out by the German Economic Team Moldova (GET) and the European Business Association of Moldova.
"The study could serve as a working document for the authorities. The study highlighted four areas where rapid steps can be taken and where the implementation process will be particularly easy, with benefits felt in a short period of time", said Mariana Rufa, executive director of the European Business Association of Moldova.
According to the study, the four areas are related to the simplification of requirements regarding the submission of tax invoices by economic agents, the cancellation of the act of surrendering-receiving receipts related to fiscal procedures, the acceptance of certificates issued by EU states on import of goods and equipment and the inclusion of artisan commercial services in the fiscal program that regulates permanent activities.
"In order to stimulate investments and the business environment, the government has three priorities", said Alexandru Sonic, state secretary of the Ministry of Economy and Infrastructure. According to the official, the three priorities are: justice reform, economic recovery and social equity. "The government relies on the support of business people", said Alexander Sonic.
Additionally, the study identified two major impact reforms that will require extra effort, yet is promising in terms of benefits for both the investment and business environments. Namely, creating a public register of insolvent companies and improving agricultural land management.
"The study that we conducted addresses the shortcomings in the business environment in the Republic of Moldova and comes with concrete and easy to implement initiatives. The implementation of these proposals will help the Republic of Moldova to attract more investments and to register a more dynamic economic growth", said David Saha, consultant at the German Economic Team Moldova and the main author of the study.
