Moldova getting more attractive to foreign investors - Grechanaya
The Republic of Moldova is getting increasingly stable, predictable and attractive to foreign investors, Moldovan First Deputy Prime Minister Zinaida Grechanaya stated here Wednesday at the opening of the inter-state exhibition dedicated to the 15th anniversary of the Commonwealth of Independent States (CIS).
She said, in particular, "The growth of foreign investment is enhanced by the national legislation that works in conformity with European standards"... and "an essential step in this sphere was the recent adoption of the Concept of reforming the state regulation of entrepreneurial activities".
In her words, now is a favorable moment for investing in Moldova, for this republic is becoming a neighbor to the European Union next year, "which circumstance is very important for business opening and development".
Zinaida Grechanaya highlighted investors' particular interest to the electricity business: the energy/water sector accounts for 35% of total direct foreign investment in Moldova, followed by the food processing industry (27%) and transport and telecommunications (12%).
The First Deputy Prime Minister stressed joint companies play an enormous role in the republic's national economy: there are 3,184 companies with foreign capital registered in Moldova. In 2005, they accounted for 28% of the country's total industrial output, for 30% of exports, and 28% imports.
Grechanaya said Moldova's participation in the anniversary inter-state exhibition is an excellent opportunity to strengthen the economic component of regional cooperation, development and mutually beneficial trade. She expressed confidence the acquaintance with Moldovan produce will serve to shaping a correct perception of the business and investment climate in the Republic of Moldova.
"The Moldovan section at the exhibition represents the republic as a reliable and promising partner open to cooperation", the First Deputy Prime Minister said.
Moldova is represented at the exhibition by 53 leading companies, the Ministry of Informational Development, Chamber for Commerce and Industry, Moldovan Academy of Sciences, and some other organizations.
The Moscow exhibition has gathered over 500 companies from Moldova, Azerbaijan, Armenia, Belarus, Kazakhstan, Kirgizia, Russia, and Ukraine. // Infotag
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