Companies from Turkey encouraged to invest in Moldova

Chisinau, 18 April /MOLDPRES/ - The cabinet today approved a draft law for the ratification of an agreement between the governments of Moldova and Turkey on the mutual promotion and protection of investments, the government’s communication and protocol department has reported.  

The document will provide Turkish and Moldovan investors certainty that their investments are protected and that there are clear-cut rules of work in this sector. Also, the agreement establishes ways of settling litigations and of compensation of losses, if the investments of one of the side are affected.  

The agreement, signed in Istanbul in 2016, is an extra reason for business people from Turkey to invest in Moldova, knowing that they will enjoy a fair treatment here. Also, the document strengthens the friendship relations between the two states and consolidates the commercial and economic cooperation through the creation of friendly conditions for investments.  

Data by the Public Services Agency shows that, at present, there are over 1,300 enterprises with Turkish capital in Moldova, with investments in the registered share capital amounting to about 420 million lei. In 2017, the bilateral trade exceeded 408 million dollars, up by 22.5 per cent against 2016; thus, Turkey is the seventh country in a top of Moldova’s commercial partners.  

Moldova has signed such agreements with more than 30 states.