Mihail Formuzal: Gagauzia is changing radically its behaviour towards potential investors

The autonomous territorial unit Gagauzia is fundamentally changing its behavior towards potential investors. It will not wait for the investors to come to invest in Gagauzia, but will take steps to inform them about the investment climate in the region, the Governor of Gagauzia Mihail Formuzal told a news conference on October 23. According to Formuzal, the most important step in this direction is the first Regional Economic Forum “Investment in Gagauzia – development direction”, which will soon take place in Comrat. The forum’s aim is not to discuss global problems, but to attract investment in the region and to show what possibilities Gagauzia can offer. Formuzal said that they have already prepared 22 packages of investment proposals that give details about companies, benefits, development possibilities, infrastructure etc. All the proposals concern enterprises located in different settlements of Gagauz-Yeri and this would enable the settlements to enjoy approximately equal development conditions, the Governor says. Mihail Formuzal stressed the necessity of modifying the legislation on land sale. Currently, the farmers sell the land for 200-300 dollars and go abroad to work. If the land is purchased by foreign investors, they will pay much more per hectare and the key aim – to keep the workforce in rural areas – will be achieved. Formuzal says that the foreign investors favored by the Moldovan legislation will benefit in Gagauzia from additional conditions like fiscal concessions on investments larger than 250,000 dollars, the possibility of immediately signing contracts with the Gagauz authorities, which the People’s Assembly will then legalize, etc. The potential investors will take prompt decisions when seeing the facilities put up for privatization by Gagauzia, after studying the packages of documents that will be distributed among the forum participants, Formuzal said. Mihail Formuzal is sure that the participants in the forum will express interest in the proposals put forward by Moldova. The country’s administration and the Ministry of Economy fully back the holding of the first Regional Economic Forum “Investment in Gagauzia – development direction”, the Governor said. The forum will take place on October 25. A number of 81 participants from Poland, Ukraine, Turkey, Romania, Germany, and Russia have expressed readiness to take part in the forum. According to preliminary estimates, Gagauzia could benefit from investments worth 60 mln euros.