The small and medium-sized enterprises (SMEs) in the Republic of Moldova will be able to increase the competitiveness of their products and services in order to easier integrate into value chains and access new markets. Through the agency of a program that was approved by the Government, local producers could access up to 2 million lei in financial support, IPN reports.

The money will be used to implement engineering and IT solutions, apply international and European standards for products and services, conduct laboratory tests and obtain certifications.

The program also provides for the organization of training sessions to develop entrepreneurial skills.

According to the Ministry of Economic Development and Digitalization, the small and medium-sized enterprises in 2023 accounted for about 99.2% of the total number of enterprises operating in the Republic of Moldova, and they employed more than 65% of the total number of enterprise employees.

The Organization for the Development of Entrepreneurship will be responsible for the implementation of the program. It is estimated that at least 1,300 companies will benefit from this program. All the measures will be implemented at an estimated cost of 115.5 million lei, which will be covered with state budget funds, within the project "Competitiveness of Micro, Small and Medium-Sized Enterprises", carried out with the assistance of the World Bank, while GIZ Moldova will provide the necessary technical assistance.