Free economic zone to be extended in northern Moldovan city

15:49 | 20.11.2015 Category: Economic

Chisinau, 20 November /MOLDPRES/- The Free Economic Zone from Balti municipality (Moldova's second largest settlement) will be extended by one additional sub-zone in Orhei district. The parliament adopted a draft law to this effect today.

The draft law sees that the sub-zone will measure eight hectares and will create more jobs once new investments are drawn.

More foreign companies, including Sumitomo Electric Bordnetze (SEBN), a subsidiary company of the Sumitomo Corporation, have recently announced their intention to invest in Moldova. Sumitomo plans to invest 17 million euros in a Moldovan factory producing electrical wiring for cars.

According to the activity report of the Free Economic Zone from Balti for 2014, it had exported 79.1 per cent of its products and services, accounting for 9.2 per cent of Moldova’s total exports turnout. The total amount of salaries paid by the residents of the zone stood at 364.3 million lei.

(Reporter A. Zara, Editor A. Raileanu)

Any material published on the website of the Public Institution ’’A.I.S. Moldpres’’ (Moldpres News Agency) is intellectual peoperty of the Agency, protected by the copyright. The taking over or/and use of these materials will be made only with the Agency’s agreement and with compulsory reference to source.