Two German companies will invest about €60 million in the Free Economic Zone Balti in the course of 2016. The zone’s main administrator Marin Ciobanu, in a news conference at IPN said the money will go to build two cable harness factories in Balti municipality and Orhei town.
Marin Ciobanu said the given investments in Moldova will be made by the German companies “Draexlmaier” and “Sumitomo”. The size of investments was decided in meetings with the two companies’ administration. “Draexlmaier” will build a factory of 27,000 square meters, with production and administrative areas, at an estimated cost of over €30 million. The investments of “Draexlmaier” will benefit the districts located nearby, namely Rascani, Drochia, Glodeni, Falesti, Sangerei, and Floresti.
“Sumitomo” will invest €29 million in a factory that will provide over 3,000 jobs, 180 of which of engineer. Of this sum, €17 million will be used to carry out the construction works, while €12 million to outfit the factory. Among the investment beneficiaries will be residents of the districts of Telenesti, Calarasi, Straseni, Rezina, and Criuleni.
According to Marin Ciobanu, the volume of foreign investment in Moldova has decreased over the last few years. About €144 million in investment was attracted in 2013. “Such investments as those projected this year come to Moldova once in two years. This is good luck for the country and a new start,” he stated.
The administrator also said that more than 6,000 jobs were created in the country since the foundation of the Free Economic Zones. Another 6,000 jobs will be created as a result of the investments that are to be made this year.
In 2011, “Draexlmaier” invested €30 million in building a modern factory in the Free Economic Zone Balti. The factory employs about 3,000 employees who get an average salary of 6,800 lei.
