The Republic of Moldova: Key developments and Challenges

Transcription

1 The Republic of Moldova: Key developments and Challenges Investment opportunities Calmic Octavian, deputy minister Ministry of Economy of the Republic of Moldova May, 2011

2 Economic recovery GDP compared to the following period of the previous year and 1999, % GDP recovering recession, compared to the same period of 2010, % 2 Ministry of Economy of Moldova

3 Moldova economy in a region dimension FAST ECONOMY RECOVERY, REAL GDP GROWTH, % GDP PER CAPITA EVOLUTION, USD Economic catch up and stable monetary environment to support the attractiveness of the country. Ministry of Economy of Moldova 3

4 Foreign trade dynamics \ Foreign trade balance The evolution of export structure,% Ministry of Economy of Moldova

5 Foreign Direct Investment in Moldova Financial and exchange rate stability, and also expected monetary easing to support the domestic investment and FDI inflows FDI preliminary data, NBM Ministry of Economy of Moldova 5

6 Main Business Reforms in Moldova Business start-up was eased by implementing an expedited company registration service. New laws on limited liability companies and company registration speed business registration by introducing statutory time limits. The time required to file an application with the State Registration Chamber fell from 15 days to 7, reducing the total time to start a company from 23 days to 15. Property registration was simplified by eliminating the requirement for a cadastral sketch, reducing procedures from six to five and days from 48 to 5. Reduced employer contribution rates for social security. A law for facilitating the creation of a private credit bureau was approved. Eliminated barriers for exports: tariff and nontariff, customs Ministry of Economy of Moldova 6

7 Main Business Reforms in Moldova Eliminations of mandatory certifications of products 1842 national standards harmonized with international ones and 1983 with European standards 12 field of economic activities were excluded from the list of those subject to licensing 96 legislative and normative acts have been recommended for repeal in the framework of Ghiliotina 2+ Amended laws to facilitate creation of : PPP, FEZ, Industrial Parks Ministry of Economy of Moldova 7

8 Agenda for RM legislation harmonization with EU recommendations Draft Law One stop shop Draft Law of state control Draft of Law on state aid Draft Law on competition Ministry of Economy of Moldova 8

9 Macroeconomic forecast for , 2014, % compared to GDP Export Import Industry Agriculture Investment Ministry of Economy of Moldova 9 9

10 New economic development paradigm based on investments and export Poverty reduction Risk reduction Job creation Sustainable growth and development of Moldova Economy Ministry of Economy of Moldova 10

11 EBRD One of the largest investors in Moldova 548.7million net business investments 82 projects 1 1 billion total project value 79% portfolio in private sector Sector projects: Industry, commerce, agribusiness Energy Financial institutions Infrastructure Ministry of Economy of Moldova 11

12 support Moldova s sustainable growth, economic diversification competitiveness through the implementation of advanced efficiency technologies. Moldova is dependent on energy imports for 90 per cent of its consumption, which account for a 1/3 of the country s budget. Sustainable Energy Action Plan for Moldova: energy efficiency and security renewable energy possible carbon financing opportunities 20 million MoSEFF : energy efficiency financing facility for Moldova, aimed at financing projects implemented by local private companies. Ministry of Economy of Moldova 12

13 Moldova Investment projects Construction of power lines: Novodnestrovsc-Balti OHPL 330kV, power 955 MVA, length 121,5 km, 25 million Balti-Suceava OHPL 400kV, power 1715 MVA, length 115 km, 57 million Straseni-Iasi OHPL 400kV, power 1715 MVA, length 100 km, 44 million Construction of Gas pipeline: Ungheni-Iasi 19 million Production of renewable energy (biofuels for heating purposes) EE and RE projects for public and social buildings Ministry of Economy of Moldova 13

14 Projects of Investment in Industrial Parks foundation based upon PPP Ministry of Economy of Moldova 14

15 Thank you! We would be glad to have you as a partner in Moldova Development Ministry of Ministry Economy of Economy of the Republic of Moldova of Moldova 15