The WB has allocated Moldova another $5 million in a grant for business co-financing under the SME Competitiveness Project
The Organization for Entrepreneurship Development (ODA) announced this, noting that until then, each dollar invested by the World Bank in the competitiveness of Moldovan enterprises generated exports worth $9. The additional $5 million is allocated for development grants, which can be received by about 300 local companies. Companies can receive grants of up to 600 thousand lei through the SME Internationalization program, managed by the Organization for Entrepreneurship Development, recently presented at the Antreprenor Expo. According to ODA, in this way, companies can benefit from services that will improve their export potential - from strategic consulting, design and engineering to marketing, market research or branding of new products. Low-cost equipment can also be purchased under the program, which will contribute to the competitiveness of Moldovan companies. ODA stresses that the Program for Export Competitiveness and SME Internationalization covers investment costs of up to 600 thousand lei for: business development, competitiveness and productivity; creation and strengthening of ties with local and foreign partners; import substitution and export orientation. Gratuitous financial assistance can be received on condition of 50% of own investments, for business development services, purchase of machinery, equipment, premises. In general, the SME Export Competitiveness and Internationalization Program is designed for micro, small and medium-sized enterprises that intend to invest in improving the competitiveness and productivity of their business in order to export or enter foreign markets, as well as its internationalization. The program envisages 3 areas of activity: investing in business growth, competitiveness and productivity: increasing innovation potential by introducing new technologies, highly efficient and flexible management systems, as well as improving the efficiency and quality of products/services; import substitution and export orientation: overcoming technical barriers to trade; diversification of products/services with higher added value and their adaptation to international standards; providing consultancy, information // 30.10.2024 - InfoMarket.
