What will be the impact on his business of the closure of ZSP, what makes him look for new areas for investment, and what prevents new investments – in the interview for Logos Press Nikolai Lutsik.
LP: – Mr. Lutsik, you have already stated that the closure of the ZSP will not affect the production activity of the enterprises included in the holding, and will even give a new impetus to increase the turnover. Do you still think so?
– Absolutely. I have no reason to change my point of view. When free economic zones were opened in Moldova 20-25 years ago, the main goal of their creation was to attract foreign investments into export-oriented production. For this purpose they were provided with real privileges, which were attractive for investors.
Free zones have been fulfilling their role all this time. They attracted about $650 million of foreign investment, residents opened many plants and factories to produce goods for export. Including those that had not been produced in Moldova before. For example, the automobile industry was created practically from scratch; many enterprises in various free zones produce components for the world automobile industry.
Our holding has also contributed to the creation of high-tech products with high added value, which are almost entirely exported. We have invested about $55 million in these productions. Annual tax payments to the budgets of different levels make from 50 to 100 million lei.
But today the situation has changed dramatically. Moldova in the process of EU integration is forced to cut privileges for FEZs and close them. Export markets have become unstable, and competition has increased dramatically. At the same time, the status of FEZ residents limits sales opportunities on the Moldovan domestic market. Therefore, for us, the closure of FEZs is not a reason for despondency, but an incentive to explore opportunities to work in the domestic market of the country.
LP: – But the basis of your production is alcoholic and tobacco products, which already saturate the market of the Republic of Moldova. Does the competition not embarrass you?
– If a business is afraid of competition, it has little chance of success from the beginning. Our priority has always been to create innovative, high-tech and original products with high added value. They sell well in many countries of Europe and the world. Until now, the Moldovan consumer has been deprived of the opportunity to buy many of our products, either because of restrictions on their sale on the domestic market, or because of the disadvantage of such sales due to additional taxes and fees for FTA residents. Now these barriers are gone, and our products will more easily find their way to the Moldovan consumer.
And we have something to offer them. Yes, we are one of the largest producers of alcoholic and tobacco products in Moldova. But even in these segments we have good chances to surprise Moldovan consumers. In 2024 our sparkling wine Maestro – Cuvée Rosé Brut Nature received a gold medal at the most prestigious international competition Effervescents du Monde. We are the only ones in Moldova producing sparkling wine of Prosecco type from Glera grapes grown in our own vineyards. We surprised the market by starting the bottling of sparkling wine in aluminum containers, which was especially appreciated by airlines. In 2025, we launched ECCO, an environmentally friendly wine created with the participation of European enologists.
At the same time, all our products – not only wine and cognac products – are made from local raw materials, according to original recipes and using the most modern technologies.
That is why our perfume and cosmetic products, which we produce in cooperation with French partners, are still practically unknown to Moldovan consumers. Although it sells very well on the export markets. Entering the domestic market with these products is a serious challenge for us, for which we are ready.
Moreover, we are constantly developing, searching, testing different ideas, investing in new technologies and products. This allows us to constantly move forward, regardless of whether we have the status of FTA residents or not. Recently, we have mastered the production of a completely new product for Moldova, although it has a thousand-year history and is well known all over the world. In any other country it would have become a sensation, but in our country few people even paid attention to it….
LP: – Intrigued! What product are we talking about?
– We got the right to produce the famous seltzer water under the trademark Original New York Seltzer. This is not just mineral water, but a high-tech export product with high added value. It is not so easy to get the right to produce it, as seltzer water has been known for thousands of years, is made according to ancient recipes and is very much appreciated all over the world. But we have convinced our American partners that we are able to comply with all technological requirements, high quality standards and natural recognizable taste.
Selters water has been known since 772. Its spring in Niederselters, Germany, was famous for its natural gasification and unique mineral composition. In the 19th century, “Seltersky” became a nickname for all mineral waters – like “Xerox” for photocopiers.
Selter water is distinguished by three key aspects:
– naturalness: it is produced without artificial additives, based only on natural minerals and fruit extracts;
– functionality: each bottle contains a daily allowance of micronutrients for the gastrointestinal tract and cardiovascular system;
– versatility: suitable both for quenching thirst and for gastronomic experimentation.
LP: – Yes, curious. Is this a separate production, or do you use the existing facilities for bottling seltzer water?
– Well, first of all, it’s not just bottling – it’s a real technological breakthrough for Moldova. We produce Original New York Seltzer under franchise at the facilities of Bulgari Winery, but this is a separate production based on modern technologies with the use of the most advanced equipment. The water undergoes multi-stage purification with precise control of mineral balance and preservation of natural carbonation. Naturally, only natural fruit extracts are used, where possible from local raw materials.
It should be understood that having mastered the production of seltzer water, we are not copying the past, although this water has been known for thousands of years. We are creating a new modern product with high export potential, and this may well become a new future for Moldova. Original New York Seltzer produced in Moldova is a product that proves that Moldova can compete on global markets not only with wine, but also with innovative premium drinks.
LP: – You speak about high export potential. Is the new product already supplied to foreign markets?
– Naturally. Even when planning its release, we focused on European markets, where premium mineral waters are in stable demand. Moreover, we are talking about seltzer water, which is a cult water in Europe.
Therefore, seltzer water is not just a new export commodity and foreign currency earnings for the country. It is a recognizable brand, which makes Moldova recognizable as a producer of products of such high quality and prestige. It is the country’s reputation, its image.
So, investing in the production of seltzer water is an accession to a global brand, which gives a competitive advantage in any market. We should understand and appreciate it. Moldova does not produce many such innovative products that meet the most demanding taste of consumers all over the world.
Already today, the drink is supplied to several European countries. But we are not going to stop here. We plan to expand the line of flavors, enter the US and Asian markets, develop eco-friendly packaging and much more.
LP: – What makes you invest in Moldova, open new production facilities, expand the range of products?
– You can’t imagine how often my friends from different countries ask me this question. And it is not so easy to answer it. I will tell you directly: an investor has few reasons to choose Moldova for business. We can talk a lot about the reasons, but most of the problems are well known. I will say the main thing, in my opinion. Not all officials in Moldova are interested in investments. They do not see investors as people who create jobs, export product, added value, reputation, image….
No, in words they support all this. But in reality, rarely anyone thinks about how to help the investor.
Why have I been working here for so many years, investing my money? Perhaps it has to do not so much with business as with my soul. People who are close to me in spirit live here.
I have business in different countries, and in each country people are proud of local products. In Moldova too. Therefore, creating each new product, we try to use local raw materials and ingredients as much as possible. This is how we instill love for local products, teach to appreciate them. But priority is always given to the production of high-tech, innovative products with high added value.
This is where I see the mission of my business in Moldova. The status of the FTA resident at one time contributed to the realization of this mission in the best possible way. Now times are different, but the priorities remain the same.
LP: – Thank you for the interview. And good luck in 2026.
