In the process of building a European Moldova, additional business efforts will be required in the short term, but the subsequent economic benefits will be much greater, - Maia Sandu.
The President of Moldova announced this on Tuesday at the EBA Business Outlook 2024 event “Integration of Moldova into the European Union - Business Prospects.” She noted that the prospect of becoming part of the European Union market - the largest market in the world - is the prospect of ensuring the growth we need to build a European Moldova. Maia Sandu addressed business, noting that in the near future, in the period preceding Moldova’s accession to the EU, situations may arise when in many areas of activity the harmonization of legislation or the introduction of new standards and procedures will require additional efforts and investments. However, she said the economic benefits would be much larger and more sustainable. They spoke about Moldova's latest achievements on the path to building an open, free and digital economy, ready for integration into the EU single market. “Through the reforms that we are promoting or have already carried out, we wanted to give more freedom to entrepreneurs, investors, companies and the entire economy, more space in which businesses can grow and develop. An economy in which administrative processes are simple and efficient, and entrepreneurs can work without hindrance,” said Maia Sandu, noting the importance of further reducing the level of bureaucracy - a long process that, in 2023 alone, saved entrepreneurs an amount equivalent to 0.5% of the country’s GDP . “This is money that can be used for investment, innovation or new jobs, not to mention the time saved: 6 million working hours,” said the head of the country. During the event, the head of the European Integration Office, Ghenadie Marian, said that by March 1, the European Commission will present the results of Moldova’s fulfillment of the 3 conditions that preceded the start of the negotiation process on accession to the European Union, and in the future, work will continue to implement the action plan for Moldova’s accession to the EU within the framework of 3 thematic working groups and 2 main ones at the level of politics and economics. He called on the business community of Moldova to actively participate in this process. The head of the Ministry of Finance, Petru Rotaru, informed the event participants about the efforts of his department, which relate to ensuring predictability in relations with the business environment and developing transparent mechanisms for voluntary compliance that contribute to the creation of a fair and just business environment. He reported that the deadlines for developing the country’s tax and customs policy were met last year and assured that this year the draft document for 2025 is planned to be submitted before July 1, so that business and authorities have the opportunity to discuss and prepare everything. The Minister spoke about the introduction of a transfer price from January 1, 2024 as a tool for increasing the efficiency of tax administration, the entry into force of the new Customs Code and its benefits for economic agents participating in foreign trade, as well as the prospects for the development of a new Tax Code brought in line with EU standards, etc. The EBA Business Outlook 2024 conference, held by the Association of European Businesses for the third time, was attended by representatives of authorities, EU institutions, business associations, and senior management of a number of international companies. The event discussed the possibilities of Moldova's integration into the EU, the evolution of state policy, business prospects and business development trends at the regional level and in the EU. Speakers from other countries shared their experiences in the process of their countries' accession to the EU. // 20.02.2024 — InfoMarket
