Investment is key to unleashing Moldova‘s industrial and export service potential. Foreign direct Investment (FDI), in this respect is not only about capital to build and restore factories but also an essential contribution in terms of technology, management capability and superior work culture that are all needed to grow productivity, grow salaries, create new jobs. Since the effectiveness of DCFTA, Moldova has implemented a number of reforms to improve business environment and investment climate. My Government will both deepen and broaden those and will come up with tools for seamless implementation, particularly government electronic services that would reduce regulatory compliance burden, reduce the potential for graft and corruption which ultimately make the life of businesses operating in Moldova more predictable and less risky.
A number of western firms that invested over the years in Moldova are part of the automotive supply chain. They make a diverse range of products starting from wires and upholstery and ending with programming of electronic control units (ECU) and more recently these entice local startups to explore more sophisticated areas such software and hardware development and testing of transport management systems (TMS) for clients in EU market.
We will make every effort to facilitate firm entry enabling cost savings for export clients and increasing the job sophistication locally. In that sense expanding the automotive cluster is a key priority. Moldova Business Week will continue to play an important role in reaching out to interested investors and will be essential as a feedback channel to inform future business environment reforms and the existing ones.