Moldovan cabinet approves amendment of legislation to develop social entrepreneurship

Chisinau, 7 December /MOLDPRES/ - The cabinet of ministers today approved a draft on amendment and completion of the law on entrepreneurship and enterprises with new capital, “social entrepreneurship and social enterprise.” The social entrepreneurship is an activity carried out by non-commercial organizations, in order to achieve social goals.  

The social economy witnessed an unprecedented development worldwide and in more European Union member states; yet, it is a relatively new concept for Moldova. Although there are some success stories, a good deal of them have been initiated and developed through contribution of foreign donors, according to a study of the East-European Foundation. Moldova’s legislation does not clearly provide for the notion of social entrepreneurship, and the companies practicing it are taxed according to the general rules.   

The amendments and completions to the legislation, proposed by the Economics Ministry, see the legal norms concerning the social entrepreneurship. The draft provides for the setting up of a National Council for Social Entrepreneurship, a collegial body created under an order by the economics minister.    

The draft law will be submitted to parliament for consideration and approval.

(Reporter V. Bercu, editor A. Răileanu)