The first day of Moldova Business Week 2020 in Chisinau:19 Noiembrie, 2020
The first day of Moldova Business Week 2020 in Chisinau: "The Republic of Moldova remains an attractive destination for foreigners with the best IT ecosystem in the world"
The international and local business community discovers excellent investment offers and partnerships for sustainable business development in the Republic of Moldova at the country's largest economic forum, Moldova Business Week 2020, which takes place on November 19 and 20 in Chisinau. Over 1,200 people- investors, entrepreneurs, importers and financiers (including representatives of 500 companies) from 70 countries, including Cuba, Brazil, Nicaragua, the Philippines, Japan and the Baltic States registered for the event held for the first time online. On the first day of the event organized by the Moldovan Investment Agency, the participants explored new global economic trends, discovering the investment potential, opportunities, but also the strategic sectors challenges of in the Republic of Moldova.
At the 7th edition of the Moldova Business Week forum, the state representatives and the country's development partners reiterated that the Republic of Moldova is an open and attractive country for investment, and the authorities will continue to create premises for stable and sustainable economic growth, offering more opportunities for both investors and entrepreneurs.
Rodica Verbeniuc, General Manager, Investment Agency: “The Investment Agency has assumed the role of guiding the local business community in the process of transformation and adaptation to the new economic reality. We re-evaluated our resources, identified the things that make us unique and translated them into an authentic business approach, turning restrictions into opportunities. The pandemic did not stop us, on the contrary: we launched platforms through which foreign investors can connect with Moldovan enterprises and build partnerships, we created a group of experts, including foreign investors in Moldova, to help our business community through the crisis , we provided support for the promotion of local products through trade platforms and international fairs, generating direct exports of over 33 million euros, we contributed to the launch of 5 new investment projects. We are confident that in these two days you will discover excellent investment and partnership offers presented by local companies, as well as many compelling reasons to grow your business in a sustainable way here in Moldova.”
Ion Chicu, Prime Minister of the Republic of Moldova: “Promoting a digital, sustainable and resilient economy in the Republic of Moldova remains our priority. Stimulating economic growth and development, encouraging a rule-based business environment, continuously improving the investment climate to the highest standards, promoting a clear vision of high-performance agriculture and high value-added industries, ensuring well-paid jobs, providing the necessary conditions for the realization of competitive products - these are the key objectives of the Republic of Moldova Government. I would like to encourage all our partners and friends to look at Moldova with confidence and to explore the enormous potential of this emerging market and investment destination in Europe.”
The authorities' initiatives for business development, investment attraction and job creation are also supported by development partners. With the signing of the Free Trade Agreement, Moldova's exports to the European Union increased by 62%.
Peter Michalko, EU Ambassador to the Republic of Moldova: “In 2019, 1937 companies from the Republic of Moldova exported to the EU, which represents a 48% increase in the last five years. Despite the pandemic, a similar trend was noticed this year. Since the entry into force of the DCFTA, EU foreign direct investment in the Republic of Moldova has been steadily growing and even doubling. In order to continue this trend and to make Moldova benefit from more foreign investment, the business climate, legislative predictability, stability, and the rule of law are extremely important. Thanks to the Association Agreement with the EU and DCFTA, Moldova has the best tools to attract international investors and to encourage domestic investment.”
Dereck J. Hogan, US Ambassador to Moldova: “Despite the pandemic, our business priorities in Moldova have not changed, we focus on the development of bilateral trade and investment. We connect Moldovan companies and investors with international partners, bringing capital and resources to grow businesses, to expand markets, to generate higher profitability, but also to promote Moldovan products in the world. As the Republic of Moldova embraces smart technologies and moves to 5G to attract investment, we urge the authorities to ensure the necessary conditions for business relations to be conducted in safety, transparency and trust. We encourage authorities and entrepreneurs to work with Western companies to build a healthy business climate, signaling to potential investors that Moldova is a safe place.”
Global economic trends, from famous special guests
The special guest of the event, the physicist, writer, futurologist and visionary Prof. Michio Kaku, who presented to the participants what are the global trends in economics and finance, based on the latest scientific research.
Michio Kaku, physicist, writer, futurist: “When I think of the Republic of Moldova, I think of a rocket, which is close to launch, but not yet ready, although it has everything you need. It is a relatively young nation, full of ideas and enthusiasm, with all the ingredients needed for economic and social success: a world-renowned wine industry, fertile soil, mild climate - ideal conditions to start a business. In order to be propelled towards a bright economic future, the Republic of Moldova must reduce taxes and regulations on companies, encourage young people and, most importantly, promote science and technology development, which are the engine of prosperity.”
The Nepalese businessman and philanthropist Binod Chaudhary, who leads a conglomerate of 160 companies and 123 brands, shared his experience as an international investor, with investments in the Republic of Moldova since March 2020. He mentioned that our country has a very promising digital potential and can host any online business.
Binod Chaudhary, Chaudhary Group Nepal and CG Corp Global: “People know Moldova as an agricultural destination, but in addition to fertile land and high-quality wines, Moldova has developed promising sectors that are worth considering for investment opportunities. I am very impressed with the ICT sector, which has grown 40 times since 2005. It is one of the biggest success stories in the country. For potential investors who want to develop business in Moldova, I would recommend paying extra attention to areas such as: agriculture and food industry, energy, wine, creative industries, ICT, FinTech, tourism, light industry, transport, and automotive.”
On the first day, Moldova Business Week 2020 continued with two discussion panels, in which participants learned about the country's investment climate, challenges and progress in investor activity, and also success stories, connecting participants to all opportunities offered by the business environment in our country. Authorities Representatives spoke about a number of benefits for which the Republic of Moldova remains an attractive destination for foreign investors, presenting government solutions for attracting investment, financial policies, fiscal incentives for a stable economy, digitized public services and IT Park - recognized as the best world's IT ecosystem.
November 20, 2020 - Sessions to attract investments in Moldova
Moldova Business Week 2020 will continue on November 20, starting at 11.00, dedicated to foreign direct investment. More experiences and useful information in attracting investments will be offered by special guests: Massimo Meloni - expert investment and enterprise policies at the United Nations Conference on Trade and Development; Ștefan Kratzsch, who has been working for the United Nations Industrial Development Organization (UNIDO) for 15 years in the fields of investment promotion and private sector development; but also, Scott Hocklander, director of the USAID Moldova Mission.
There will be a panel discussion moderated by Ion Lupan - the head of the Secretariat of the Economic Council under the Prime Minister, from which we will find out how the business environment can contribute to government reforms, in partnership with the state.
For the second part of the day, pitching sessions are scheduled, in which companies from strategic areas of the economy will present their investment profiles and partnership proposals to potential foreign investors.