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Investing in Moldova

Investing in Moldova. “Great place to live and locate a business”. 1 st UNDP – Hellenic Ministry of Foreign Affairs Business Forum 02 April, 2009, Athens. Where is Moldova?. Located in South-Eastern Europe, bordering Romania and Ukraine; Area: 33,8 thousand sq. km.; Population: 3,6 mil;

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Investing in Moldova

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  1. Investing in Moldova “Great place to live and locate a business” 1st UNDP – Hellenic Ministry of Foreign Affairs Business Forum 02 April, 2009, Athens

  2. Where is Moldova? • Located in South-Eastern Europe, bordering Romania and Ukraine; • Area: 33,8 thousand sq. km.; • Population: 3,6 mil; • Capital: Chisinau 2

  3. Why invest in Moldova? (1) • GDP (2008) – USD 5.7 bi. • Low inflation rate (2008) - 7,3%; • Education: Literacy - 96%. • Work force: 1.3 million: • Agriculture - 41%; • Industry - 12%; other 47%. • Unemployment – 3.6% • Liberal Trade Policies; • Economic and structural reforms successfully put in place; • Stable monetary policy; • 0% Corporate Income Tax (on reinvested earnings) • Low operational costs • Ideal platform for manufacturing and exporting both to CIS and to the EU • Investor’s MoET helpdesk 3

  4. Why invest in Moldova? (2) • Proximity to large world markets (European Union –EU- and Commonwealth of Independent States –CIS). • 42 Free trade agreements signed including: • WTO members (worldwide); • Autonomous Trade Preferences (EU countries); • CEFTA members (most Balkan countries); • CIS members (except Tajikistan); • 40 Double taxation agreements signed and 37 operational; • 36 investmentprotection agreements signed and operational. 4

  5. Priority sectors for investment Traditional sectors: • Agri-businessand food processing; • Textile and leather; • Information and communicationtechnology; • PPP • Transport Infrastructure; • Industry and Industrial parks; • Housing services and energy infrastructure; • New sectors: • Alternative energy; • Logistics Development; • Recreation and Tourism; 5

  6. Key opportunities for sectors • Agri-businessand food processing; • agriculture has traditionally been and remains the backbone of the Moldovan economy • the agro-processing industry accounts for another 10% of GDP • favorable access policies encourage EU markets for Moldovan agricultural products • Textile and leather; • Second largest export after wine industry (990 mil USD) • 90 companies (2/3 are the middle-sized companies employing up to 300 people), • CM and CMT model: Cutting and manufacturing services CM /CMT • Favorable customs policies • Information and communicationtechnology; • 90 major firms operating in hardware, softwareand telecommunications • there are over4,000 ICT specialists in Moldova. Annually 6 high schools and one college produce approximately 300 graduates with diplomas in ICT • wages in the industry range from USD250 to USD 1,500 and the average wage is around USD 700

  7. Free Economic Zones 8 free economic zones operate in Moldova offering: OTACI BUSINESS • 0% corporate tax; • VAT Exemption; • Excise tax exemption; • Skilled workforce; • Quality infrastructure consisting of: • Road and Railway; • Water, gas, energy. UNGHENI EXPO BUSINESS CHISINAU TVARDITA TARACLIA VULKANESTI 7

  8. Marculesti Free InternationalAirport International Logistics Center offering the following services: • Ground operation and air transport services; • Storage; • Rent of industrial production units; • Processing of agro-alimentary products; • Sorting, packaging, and labelling; • Other auxiliary types of business activities/services such as communal services, storage, construction, catering etc. 8

  9. Potential projects: • The company (Lion Gri Holding) is active in production, storage, distribution of wine and tourism. Turnover for 2008: 5 461 000 EUR, Employees: 204 Company is seeking for the investor or the creditor interested in implementing of the program and having the possibility to invest the necessary funds in the development program and (or) participation in the authorized capital stock. • Main economic activity of the „NaturVins” is production and selling of wine. Turnover: 1 million EUR, Employees: 20 Type of partnership sought: Joint venture, 51% local partner, 49% foreign partner. The company also intends to produce sparkling wines and brandies, to develop tourist services and to develop production of high-valued oil from grapes seeds.

  10. Potential projects: • Glass recyclingproject - Main objective: To create a network where will be involved local authority, local entrepreneurs and potential investors who will create the network for collection of broken glass. 2 local actors are involved and start to develop the idea. • Solid Waste Treatment and bio gas production – Main objective: To create the manufactory what will process solid waster and will produce bio gas for the city. The project is on the stage of elaboration of prefeasibility study. Local authority is involved and potential Sweden investor.

  11. Potential projects: • A company specialized in agricultural product processing is interested in finding a strategic partner for production line for concentrate processing apple and grape juice. The company will insure the necessary infrastructure and access to the eastern market (Russia, Belarus, and Kazakhstan). The strategic partner, in his turn, is expected to provide access to the western markets. • The main activity of the Company is commerce with agricultural products and aliments, intermediations of agricultural raw materials sale, animals and textiles. The present investment project assumes the creation of a factory that would extract and produce technical oil from rape , sunflower or corn. The factory will be situated in the southern-western part of the republic, Leova district, Cneazevca village (the factory will be 60km from the capital city Chisinau).

  12. What is the Moldovan Investment and Export Promotion Organisation? • Your primary contact point in attracting FDI to Moldova; • Can assist you in identifying partners, locations and opportunities; • Can assist you in sourcing Moldovan exports; • Is here to assist you!

  13. Thank you for attention! Q&A Sergiu Gogu, Investment Adviser phone: +373(22)232703 gogu.sergiu@miepo.md Aurelia Braguta, PhD UNDP Investment Broker Phone: 37322 269121 aurelia.braguta@undp.org Moldovan Investment and Export Promotion Organisation 65, Alexe Mateevici str.2009 Chisinau, Moldova phone: + 373 (22) 232 703 office@miepo.mdwww.miepo.md

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