EXCLUSIVE The Romanian state will guarantee Romanian private investments in the Republic of Moldova – Finance Minister Adrian Câciu
The Government is working on a legislative project by which the Romanian state will guarantee investments in the Republic of Moldova, Finance Minister Adrian Câciu told G4Media. The draft law provides for government support through state loans and guarantees for Romanian companies investing in Moldova, Adrian Câciu told G4Media.
„Broadly speaking, it will be investments by Romanian companies in the Republic of Moldova supported by the government both through loans and state guarantees. Investments will be targeted in economic sectors that need such investments in Moldova’s economy,” Minister Câciu said.
The official also said that the Romanian government is working with the Moldovan government to identify priority areas for investment support. These are likely to include areas such as energy, infrastructure, manufacturing, agriculture and food industry.
The adoption of the draft legislation will be followed by the establishment of the budget for the aid scheme, the provision of financing and the organisation of financial flows.
The support scheme will be implemented over 3-5 years and the legislative framework should be adopted by this autumn.
It should be recalled that several Romanian investors have tried to invest in Moldova but have given up due to bureaucratic barriers. The best known case is the construction company Dedeman, which in 2017 gave up a €20 million investment project in Chisinau due to bureaucratic obstacles.
On the other hand, Banca Transilvania bought a majority stake in the Moldovan bank Victoriabank in 2018 together with the EBRD.
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