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Chișinău and Bălți- most competitive regions of Moldova in terms of economy

The biggest municipalities of Moldova, the capital Chișinău and the northern city of Bălți, lead the top of the most competitive regions of the country, conducted by IDIS “Viitorul”.

According to the index, the capital of Moldova is characterized by well-developed infrastructure, skilled labor force and good wages. The biggest problems faced by Chișinău are bureaucracy, corruption and local taxes. Out of the districts, Drochia and Ialoveni score the best in terms of competitiveness.

Districts with the worst economic potential are Basarabeasca, Cantemir, Leova and Telenești. Competitive disadvantages characteristic of these districts are: high unemployment, poor road infrastructure and inadequate use of technologies.

As for the Gagauzia, which ranks 18th position out of 35 regions analyzed, automotive and Internet use by enterprises, the development of companies potential and the high level studies of are the main economic advantages of the region.

The ranking is part of the Report on the competitiveness of regions from Moldova, signed by Liubomir Chiriac Tatiana Lariushin and Ion Butmalai. In this regard, companies and local authorities in 32 districts, Gagauzia, Chisinau and Balti were surveyed, based on data recorded in 2012-2015. The competitiveness of districts was evaluated based on eight indicators like economic environment, economic output, legislation, public administration, infrastructure, technology, human resources, education. The methodology was taken from a similar project successfully implemented in Slovakia.

Currently studying International Relations at the University of Pécs, Hungary. Study focus: Transnistrian conflict settlement, Moldovan statehood, Moldovan democracy. Inquiries at [email protected]

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Economy

The Moldovan currency passes the Prut river. It will be accepted for foreign exchange and banking transactions in Romania

The Moldovan Leu will be accepted for foreign exchange and banking transactions in Romania, thanks to the cooperation of the National Bank of Moldova (NBM) with the Romanian Commercial Bank and Banca Transilvania.

The MDL / RON exchange service will be available from October 1, 2018 at the branches and counters of the main Romanian cities. The Romanian Commercial Bank is the sole shareholder of Romanian Commercial Bank of Chişinău S.A., and Banca Transilvania is a major shareholder, together with the European Bank for Reconstruction and Development (EBRD), BC “Victoriabank” S.A, which belongs to the Moldova Democratic Party leader and oligarch, Vlad Plahotniuc.

Romania is the first trading partner of the Republic of Moldova, with 26% of exports and 14% of Moldovan imports in the first half of the year.

The widespread acceptance of the Moldovan leu for foreign exchange outside the Republic of Moldova is an important first step and represents an additional step towards strengthening the credibility and convertibility of the national currency.

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Economy

A Chinese company wants to expand in the Republic of Moldova

The Chinese company MCC International Incorporation Ltd. plans to launch investment projects in the Republic of Moldova. Priority projects for the Chinese company would be to modernize and develop road infrastructure, digital education, renewable energy, waste management, and drinking water resources.

Entrepreneur Zhang Ye, who is also vice president of the company, said that the project for building national roads and a photovoltaic park could be started by the end of this year or early 2019.

MCC International Incorporation Ltd. is the world’s top 10 contracting company, listed on Hong Kong and Shanghai stock exchanges, with over 75 branches and subsidiaries abroad and over 120,000 employees.

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Economy

For the first time, Moldovan apples will be exported to India

Apples from the Republic of Moldova will be exported to one of the largest markets in the world – India. Moreover, Moldovan apples will soon be exported to Israel. The first batch – a sample of 100 kg will be delivered for the necessary checks. At the same time, from October 1st, prosperous plums from the Republic of Moldova will be exported to Canada, a Government press release announced.

Fresh vegetables and vegetables from the Republic of Moldova are delivered annually in about 80 countries – for example, Moldovan grapes are exported to 20 states of the world, and plums – in 16 states.

Most Moldovan products are currently on the European Union market, with large increases in the markets in Germany, Italy, Portugal, the Baltic countries, the Czech Republic, Bosnia and Herzegovina, and Romania.

Thus, it is being examined whether there could be a possibility of exporting indigenous products to Vietnam, Egypt, Qatar, Bangladesh, and Indonesia.

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