Moldova, which has madeimpressive progress in overcoming the effects of the global financial crisis, offers high potential opportunities for foreign investors. According to Valeriu Lazar, Deputy Prime Minister and Minister of Economy, Moldova achieved almost 7% GDP growth in 2010 and also increased its exports by 22.9% and its imports by 17.6%. Most sectors of economy recovered from the crisis that hit Moldova in 2009 and Moldova’s industrial output is expected to grow by 7.5% in 2011, driven by increasing external and domestic demand.
Attracting foreign investment is crucial for Moldova in achievingits ambitious development goals, and Minister Valeriu Lazar says, “Moldova has several advantages which can be very beneficial for both investors and for the country itself. While Moldova is a very poor country by EU standards, it has enormous potential; we expect 4.8% annual GDP growth on average up to 2014. Moreover, we are focusing not only on quantitative indicators, but on the quality of economic growth. Moldova has firmly embarked on the path of structural reforms, addressing an economic paradigm based on export oriented production and entrepreneurial innovation.”
Diversified export marketsand skilled, low cost labour
To stimulate production activities geared to exports, the government has approved feasibility studies fornine new industrial parks whose resident companies will be able to count on the government’s support in developing new production facilities. In addition, Moldova has signed preferential trade agreements with both the EU and CIS countries. “This means that exporters from Moldova will have access to extremely diversified markets while also benefiting from our country’s highly skilled, low cost labour,” Minister Lazar points out.
Moldova’s ongoing privatisation programme, which focuses on public private partnerships, is another draw for investors, and the government’s major infrastructure projects are also creating new investment opportunities. “We plan to build several hundreds of kilometres of national and international roads, and foreign companies can bid for the contracts for these projects,” Valeriu Lazar explains. The energy sector also offers outstanding investment potential in Moldova.
Valeriu Lazar says that Moldova’s government welcomes the chance to assist foreign investors. He explains, “We do not view foreign investors as merely sources of financing. For us, every investor is a development partner. We need foreign investors’ expertise, performance management models, and know-how in order to modernise our economy. Moldova is open for business and eager to form more international partnerships.”
