Moldovan cabinet approves new law on small, medium enterprises’ activity

18:14 | 30.03.2016 Category: Economic

Chisinau, 30 March /MOLDPRES/-The government today approved a new draft law on small and medium-sized enterprises (SMEs), which provides for their legal activity framework and support measures the state shall take in order to back their creation and development.

Thus, the draft law carried out by the Economics Ministry, suggests the alignment of the national legislative framework with the EU principles in the SMEs development sector. The draft law also aims to ensure and enhance the performance competitiveness of micro, small and medium-sized enterprises through facilitating their access to financing, creating a SMEs Loan Guarantee Fund, provide entrepreneurial education, along with information, assistance and consultancy services, as well as other actions provided by the law.

A premiere for Moldova is also the creation of a Consultative Council for SMEs, in charge of analyzing the competitiveness of the sector, development of the entrepreneurial spirit and submitting recommendations on the improvement of the business environment.

The SMEs sector includes almost 97.4 per cent of the total number of Moldovan enterprises. More than 56 per cent of Moldovan employees work in this field. The sales revenue of SMEs accounted for 33.4 per cent of the total economy in 2014. SMEs’ share of Moldova’s GDP accounts for 32.2 per cent.

The Economics Ministry ascertains that the analysis of some economic indicators of the SMEs sector in 2010-2014, shows that enterprises in this field have switched to a new phase and started to invest in their own development and innovation. Sales income has increased during this period. The number of enterprises suffering losses has decreased, while their profit hiked up.

SMEs are enterprises with an annual amount of employees between nine and 250 and an annual income from three to 50 million lei. They also might own total shares from three to 50 million lei.

The draft law is to be examined and adopted by the parliament.

(Reporter V. Bercu, Editor A. Raileanu)

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