3 billion lei have been invested in Moldova's national economy under the “373” investment incentive program
The Ministry of Economic Development and Digitalization reported this, noting that more than 500 entrepreneurs received loans within this program, implemented by the Organization for Entrepreneurship Development (ODA). The total value of the loans granted to them exceeded 2 billion lei, while their investments in the national economy reached 3 billion lei. The investments support the development of companies employing about 7,500 people and it is estimated that 1,500 new jobs will be created in the near future. “We have been and will continue to be there for our entrepreneurs. And through the “373” program, we are encouraging investment in our companies and the creation of well-paying jobs here at home,” said Economic Development and Digitalization Minister Dumitru Alaiba. The money was aimed at developing small and medium-sized businesses, thus helping to support a vital segment of the national economy and, indirectly, Moldova. Loans under the “373” program allow entrepreneurs to develop their business, grow, reach a higher level and create new jobs. The geographical distribution of investment projects covers all regions of the country. The largest investments were made in the Central region and Chisinau municipality - more than 1 billion lei in each region. In the Northern region, investments reached 549 million lei, and in the Southern region, including ATU Gagauzia, they amounted to 250 million lei. The average amount of loans amounted to 3.2 million lei. The “373” investment stimulation program is demanded by companies in various fields of activity. The largest investments were made in the energy production and supply sector, which attracted about 45% of the total value of investment projects. Transportation and storage was another important area with a 17% share, as was manufacturing, which also accounted for 17% of the total investment. Notable investments are also made in the following sectors: health, social care, education, leisure, etc. The “373” program started in July 2023, and this spring the government expanded access to funding and simplified procedures. SMEs in the trade sector (except those selling alcoholic beverages and tobacco products) and in the maintenance and repair of cars and motorcycles now have easier access to finance. The maximum loan amount was increased from 15 million to 40 million lei, and the financing of the purchase of raw materials and supplies needed for production or rendering services within 30% of the investment project's value is allowed. At the same time, the maximum guarantee ceiling was increased from 40% to 80% of the loan amount through the Credit Guarantee Fund, and the bank procedures for issuing loans were simplified. The goal of the government's “373” investment incentive program is to ensure access of small and medium-sized enterprises to financing for investment projects by partially compensating the interest rate on investment loans granted by Moldovan banks. Under this program, entrepreneurs can apply for a loan with an interest rate of 7% per annum in lei (MDL) and 3% per annum in foreign currency. Investment loans can be attracted by small and medium-sized enterprises for a term of up to 7 years with a grace period of up to 3 years. The interest rate is compensated by the state through the Fund for Entrepreneurship and Economic Growth of Moldova of the Entrepreneurship Development Organization. The overall objective of the program is to stimulate economic growth through entrepreneurship by providing financial support for investment projects for the development of entrepreneurship and to achieve, within its implementation, the following specific objectives: to increase the number of small and medium-sized enterprises that have access to financing for investment projects, in order to support the development and growth of the respective business; to stimulate economic growth by investing in projects that can increase the efficiency and effectiveness of the business, in order to contribute to the development and growth of the business; to increase the number of small and medium-sized enterprises that have access to financing for investment projects, in order to support the development and growth of the respective business. //13.11.2024 - InfoMarket.
