Moldova favors the increase of investments from Austria and the entry of new Austrian companies into the country and is ready to provide them with all the necessary support.
Moldovan President Maia Sandu stated this while speaking at the Moldova-Austria business forum on Friday, in which she participated along with her Austrian counterpart Alexander van der Bellen. She noted that dozens of Austrian companies are successfully operating in Moldova, investing in Moldova, creating new jobs in the IT, infrastructure, engineering, auto industry and other fields. Maia Sandu voiced hope that more Austrian companies will come to the Moldovan market, given the excellent political relations between the countries and the good economic ties. She said that Moldova and Austria have a strong partnership and a good political dialog, which allows further consolidating and developing mutually advantageous trade and economic relations. The Moldovan President voiced hope that the current business forum will be an excellent opportunity to consolidate and develop ties between the business people from the two countries. She gave assurances that the authorities will provide the necessary support to this end, so that their joint business successfully develops and flourishes. She said that the authorities work to ensure economic stability, implement reforms to make progress in different fields, improve the investment climate, reduce bureaucratic barriers, ensure the digitalization of public services and find new markets. Maia Sandu recalled that a free trade zone is in force between Moldova and the EU, and now, 60 per cent of Moldova's exports go to the EU countries. The European legislation is being implemented in the country, and the customs procedures are being simplified. Moldova is gradually integrating into the world economy, harmonizing its laws with the EU requirements and hopes to start negotiations on joining the EU. According to her, the level of corruption is decreasing in the country; the Moldovan market is attractive for qualified labor force with competitive salaries in comparison with other countries. Moldova is implementing deregulation reforms, providing more freedoms and conditions for the development of the private sector. "We are working to ensure our energy independence, investments in renewable energy, in agriculture are important for us. We want to modernize the agricultural sector according to European standards," the head of state said. She urged Austrian investors to come to Moldova and use the existing opportunities for business development. Maia Sandu also recalled that Moldova, backed by European partners, is successfully developing the infrastructure, including to ensure corridors for the supply of products from Ukraine to the EU, inflation has decreased in the country, the economy has become more stable, and Moldova will become a member of the EU in the future. According to the National Bureau of Statistics, Moldovan exports to Austria in January-August 2023 amounted to $11.3 million, down 21.4% compared to the same period last year. At the same time, imports to Moldova from Austria during the reporting period increased by 9% - up to $59.9 million. As a result, the negative balance of Moldova's trade with Austria for 8 months in 2023 amounted to $48.6 million, which is 19.8% higher than a year earlier. // 17.11.2023 - InfoMarket.
