The Investment Agency of Moldova (Invest Moldova) will be reorganized into a public institution and will be able to provide paid services.
The government approved the relevant resolution at a meeting on June 28. In particular, from an administrative central body subordinate to the government, the agency will become a public institution with financial autonomy. The Agency will be responsible for attracting investments, supporting investment activities and providing post-investment support; promotion of the image of the country and Moldovan exports; and will also contribute to the achievement of national goals in the field of economic diplomacy. More advanced functions of the agency were approved: Invest Moldova will provide advice and support to investors, including when concluding contracts for the implementation of strategic investment agreements, manage an electronic database of foreign investors, distribute promotional materials about the country's investment potential, promote projects and programs, implemented with the support of development partners, which are aimed at supporting investment activities and protecting investments. The Agency will closely cooperate with foreign diplomatic missions, promote the image of the country, carry out research to develop proposals for improving the investment environment, analyze foreign markets, strengthen the export potential of local businesses, identify obstacles to the export of Moldovan products; update the Guide for attracting investments and promoting exports, which are distributed by the diplomatic missions of Moldova abroad, etc. The staff of the agency will be 25 units. The organization will be led by a supervisory body - a council, as well as a director and 2 deputies. The organization will be financed from income from the provision of services, grants and state subsidies, external funding provided by foreign partners and donors of Moldova, as well as other legal means. The Investment Agency will be able to provide services for the implementation of projects (at a tariff of up to 10% of the project cost), provide contractual services for training in the field of attracting investments, as well as provide non-exclusive licenses for the right to use 11 trademarks registered by the agency (Pomul vieții , Be our guest, etc.). After the reorganization of the institution, according to preliminary estimates, the cost of maintaining it will amount to 44 million lei, and the income will be at least 32 million lei per year, respectively, 12 million lei will be budget allocations. At the same time, the Agency will expand the capacity to attract investments and provide access to additional financing in the amount of about 175 million euros and reinvestment of about 350 million euros. The projects implemented by OCIM will create 10 thousand new jobs, while increasing the salary fund by 125 million euros, help increase exports by 200 million euros, and increase contributions to the state budget by 30 million euros.// 28.06.2023 — InfoMarket
