Moldovan PM says cabinet determined to ensure attractive business environment for foreign investors

Chisinau, 22 February /MOLDPRES/ - Prime Minister Pavel Filip today had a meeting with the leadership of Frontera Resources international company, represented by President Zaza Mamulaishvili and Executive Director Steve Nicandros, the government’s communication and media relations department has reported.    

The two representatives of Frontera Resources, a company working in the oil and natural gas sector, are on a fact-collecting visit to Moldova to identify opportunities to invest in Moldova.    

At the meeting, the prime minister said that one of the government’s priorities was to attract foreign investments in Moldova. “We are aware that the investments, including foreign ones, represent the chance of Moldova’s long-term development. Therefore, we will back in continuation measures and policies for attracting investments in our country,” Pavel Filip said.   

Also, the prime minister noted that the cabinet he led paid increased attention to improving the business climate in Moldova and wanted a reliable and efficient partner for foreign and Moldovan investors. In this respect, Filip said the government had already taken a string of measures to support the business environment. In the context, he stressed the establishment of a three-month moratorium on state controls over enterprises. 

At the same time, the prime minister said that, to become more attractive from the investment viewpoint, Moldova needed stability and predictability. “I am sure that the negotiation of an agreement with the International Monetary Fund (IMF) will be a factor due to increase the confidence of potential investors in our country. We have every openness and determination to sign this agreement in the nearest future,” Pavel Filip said.   

The prime minister also emphasized the importance to ensure Moldova’s energy security, which is the fundament of a state, pointing out the significance of the Moldovan energy sector’s interconnection to the European one.

For their part, the representatives of the company Frontera Resources said they would like to settle in Moldova and invest in the development of the country’s energy sector. “We have been working in the oil and gas field for more than 20 years. For several years, we have been studying Moldova as a possible partner. Our goal is to explore and develop the energy system and infrastructure through participation. We can come with investments in this sector, so that Moldova reaches energy independence,” Executive Director of Frontera Resources Steve Nicandros said.   

Also, the company’s representatives said that Frontera Resources was interested in Moldova to become an exporter of energy resources in the region. 

Frontera Resources is an international company set up in 1996, with headquarters in the USA, working in the oil and gas sector. During years, this company has been specialized in identifying opportunities to invest on emerging markets, especially the ones of the Eastern Europe and the Black Sea region.

(Editor M. Jantovan)