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Moldova aims to create better conditions for investors than those in other countries in the region

The government aims to reduce red tape and simplify the rules for companies as part of an agenda to revitalise the economy and attract investment. Prime Minister Vasile Tofan argues that the Republic of Moldova must create conditions for entrepreneurs and investors that are more attractive than those in other countries in the region.
Svetlana Rudenco Svetlana Rudenco Reading time: 3 minutes
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Vasile Tofan

Vasile Tofan

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“The number one priority is to revitalise the economy. To develop the country, we need a strong and successful business sector. Our aim is for the Republic of Moldova to become the most business-friendly country in Europe, with conditions for entrepreneurs and investors that are better than in other countries in the region,” said Tofan.

According to the Prime Minister, achieving this objective requires a more efficient state that costs less to run, simpler and more business-friendly rules, and decisions that the Government is prepared to take responsibility for.

To this end, the Government has announced the continuation of its agenda for deregulation, reducing red tape and the digitalisation of public services for businesses. The Government also cites as priorities the improvement of the regulatory framework, fiscal and legislative predictability, the protection of property and investments, and the creation of more competitive conditions for capital.

Emphasis is also placed on capitalising on the opportunities offered by European integration and the Growth Plan, including to attract investment, expand local production and increase value added in the economy.

“Investment flows where there is confidence. And confidence is built through stable rules, efficient institutions and the state’s ability to turn the problems highlighted by the business community into concrete solutions,” the Prime Minister noted.

The remarks were made following a series of meetings between Vasile Tofan and representatives of the Foreign Investors’ Association, the European Business Association and the American Chamber of Commerce in Moldova.

It should be noted that, previously, Prime Minister Vasile Tofan had presented the concept of deregulation, which provides for the elimination of excessive authorisations and duplicative procedures, the transition of several processes to an electronic format, as well as the reform of the system of state controls over the business environment. The proposals cover approximately 100 legislative acts and envisage a shift towards a more risk-based approach in the process of monitoring businesses.


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