Moldova takes the 90th position in the list of the Best 120 Countries for Business list compiled by Forbes.

According to the magazine, "Moldova remains one of the poorest countries in Europe despite recent progress from its small economic base. It enjoys a favorable climate and good farmland but has no major mineral deposits. As a result, the economy depends heavily on agriculture, featuring fruits, vegetables, wine, and tobacco.

“Moldova must import almost all of its energy supplies. Moldova's dependence on Russian energy was underscored at the end of 2005, when a Russian-owned electrical station in Moldova's separatist Transnistria region cut off power to Moldova and Russia's Gazprom cut off natural gas in disputes over pricing.

“The economy remains vulnerable to higher fuel prices, poor agricultural weather, and the skepticism of foreign investors. Also, the presence of an illegal separatist regime in Moldova's Transnistria region continues to be a drag on the Moldovan economy.”

Moldova is outrun by Guyana, Algeria, Nigeria, Russia, Kenya, Kyrgyzstan, Pakistan, Azerbaijan, and Indonesia. At the same time, the business environment in Moldova is more attractive than in Philippines, Argentina, Uganda, Mozambique, Guatemala, Nepal, Mali, Zambia, Honduras, and Burkina Faso.

Moldova is placed the 110th by monetary freedom, 103rd by innovation, 100th by technology, 85th by corruption, 78th by personal freedom, 76th by investor protection and 60th by red tape.

The list is headed by Denmark, Iceland, Finland, the United States, the UK, Sweden, Canada, Singapore and other countries. Romania ranks 40th, Georgia – 68th, Ukraine – 75th and Russia – 86th// Reporter.MD


Publication date: 02 July 2008   

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