{"id":236435,"date":"2005-10-14T22:25:00","date_gmt":"2005-10-14T22:25:00","guid":{"rendered":"http:\/\/new.moldova.org\/2005\/10\/14\/moldovas-business-environment-needs-improvement-5375-eng\/"},"modified":"2005-10-14T22:25:00","modified_gmt":"2005-10-14T22:25:00","slug":"moldovas-business-environment-needs-improvement-5375-eng","status":"publish","type":"post","link":"https:\/\/www.moldova.org\/en\/moldovas-business-environment-needs-improvement-5375-eng\/","title":{"rendered":"Moldova\u2019s Business Environment Needs Improvement"},"content":{"rendered":"Reading Time: <\/span> < 1<\/span> minute<\/span><\/span>

Chisinau, October 14, 2005 (moldova.org) — Many foreign investors who shared their experience at the Moldova International Investment Forum, held on September 28-29 in Chisinau, said that Moldova holds great investment opportunities but there are some business environment shortcomings, mentioning fiscal policy, ambiguity of legislative framework, etc. <\/p>\n

Moldova has an 18-percent corporate tax that is one of the lowest taxes in the region. It is more likely investors are not happy about institutional pressures, numerous state institutions’ controls rather than fiscal pressures. <\/p>\n

Experts believe that Moldova’s legal framework is in line with international standards, but problems lay in the interpretation of laws, their enforcement, and imperfection of the justice system, which is often regarded as corrupt and bureaucratic. The World Bank reports that about 80 percent of interviewed enterprises in Moldova describe the judiciary system as "unfair, expensive, corrupt, and incapable to impose respect for law." Many investors consider that justice in Moldova is insecure for them, since courts protect only state institution and state. <\/p>\n

On the other hand, the Government should stop concessions and fiscal vacations to indebted enterprises. Supporting non-performing companies with public money does more harm than good to the economy. In addition, analysts say that elimination of firms with arrears through bankruptcy procedure would increase the competition in real sector and will improve financial performances of viable firms. Thus, banks will be able to reduce risk margins and to lower interests. In their turn, enterprises will have access to low interest loans which are in high demand among small and medium size enterprises. <\/p>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Reading Time: <\/span> < 1<\/span> minute<\/span><\/span>Many foreign investors who shared their experience at the Moldova International Investment Forum, held on September 28-29 in Chisinau, said that Moldova holds great investment opportunities but there<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-236435","post","type-post","status-publish","format-standard","hentry","category-economy"],"content_social_share":"Reading Time: <\/span> < 1<\/span> minute<\/span><\/span>

Chisinau, October 14, 2005 (moldova.org) — Many foreign investors who shared their experience at the Moldova International Investment Forum, held on September 28-29 in Chisinau, said that Moldova holds great investment opportunities but there are some business environment shortcomings, mentioning fiscal policy, ambiguity of legislative framework, etc. <\/p>\n

Moldova has an 18-percent corporate tax that is one of the lowest taxes in the region. It is more likely investors are not happy about institutional pressures, numerous state institutions’ controls rather than fiscal pressures. <\/p>\n

Experts believe that Moldova’s legal framework is in line with international standards, but problems lay in the interpretation of laws, their enforcement, and imperfection of the justice system, which is often regarded as corrupt and bureaucratic. The World Bank reports that about 80 percent of interviewed enterprises in Moldova describe the judiciary system as "unfair, expensive, corrupt, and incapable to impose respect for law." Many investors consider that justice in Moldova is insecure for them, since courts protect only state institution and state. <\/p>\n

On the other hand, the Government should stop concessions and fiscal vacations to indebted enterprises. Supporting non-performing companies with public money does more harm than good to the economy. In addition, analysts say that elimination of firms with arrears through bankruptcy procedure would increase the competition in real sector and will improve financial performances of viable firms. Thus, banks will be able to reduce risk margins and to lower interests. In their turn, enterprises will have access to low interest loans which are in high demand among small and medium size enterprises. <\/p>\n

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