Government approved a 5-year National Program to attract investment and promote exports with implementation requiring over 1.5 billion lei.
Program for 2024-2028 is aimed at increasing efficiency in the field of exports, as well as reorienting the existing production of goods and services with high added value for export. In the next 5 years, it is planned to strengthen the institutional capacity of the Investment Agency and consolidate trade and economic offices. These offices will be guided by performance criteria to maximize Moldova's export potential in the 22 countries with which the country has active relations (except Russia and Belarus). Participation in international exhibitions and business forums, as well as in exporter missions, will not be mandatory, but will be determined by the list of goods and services for which there is demand in specific markets. One of the measures is the adjustment of tax and customs regimes. For example, the time frame for returning VAT on imports will be reduced, and the procedures for importing parcels and goods supplied through e-commerce will be simplified. In order to facilitate the transportation of goods at the border, it is planned to create a centralized customs terminal. This will also help avoid idle time for freight transport at the border. Access to capital will be made easier for companies that intend to be listed on foreign exchanges, primarily for ITC startups that develop products for the global economy. At the same time, specialized state programs will be created for the development of international trade instruments (factoring operations and export guarantees). Tax policy will encourage advanced technologies, for example, a 50 percent deduction rate will be applied for expenses related to investments in research and innovation and the purchase of production equipment. It is planned to simplify exports through online trading, a possible reduction in income tax for equipment manufacturers, and private investors who invest directly in their projects will be able to receive co-financing in the form of direct government subsidies. The government plans to prioritize investments in the production of machinery and electrical equipment, mechanical apparatus, pharmaceutical products, optical equipment and vehicles. Particular attention will continue to be paid to environmentally friendly industrial production and investments in closed-cycle production. The educational offer will be adjusted to increase the number of qualified engineers and technicians. At the same time, an attractive investment proposal will be elaborated through the development of a regional profile of turnkey production workshops (almost 70% of the total program budget is planned to be allocated to this), the creation of technology parks and the denationalization of state property. It is expected that about 85% of the investments in this area will pay off in the coming years. It is also envisaged to intensify communications and positioning of Moldova as a country for investment with an ambitious economic agenda. // 03.07.2024 – InfoMarket.
