Moldovan cabinet approves extension of area of free economic zones, optimizing their work

Chisinau, 25 July /MOLDPRES/ - The government has given a positive notification to a legislative initiative on the extension of the area of the Free Economic Zones (FEZ) Balti, FEZ Ungheni-Business and Free Entrepreneurship Zone Expo-Business-Chisinau. The cabinet took the decision at a today’s meeting.    

„The adoption of the draft proposed will contribute to the attraction of native and foreign investments, formation of competitive sectors in industry based on modern and innovation technologies, more efficient use of the public patrimony, as well as to the development of small- and medium-sized enterprises, creation of jobs,” Economics and Infrastructure Minister Chiril Gaburici said.  

The draft law provides for the optimization of some areas of the economic zones, including the boosting of their development through optimizing the use of spaces the Economics and Infrastructure Ministry said in a press release. According to the ministry, following the amendments, foreign and Moldovan investors will benefit from a safe, stable and predictable legal environment.  

Statistics data shows that the overall investments in FEZs, in late 2017, amounted to about 350 million dollars, up by 22.7 per cent against the same period of 2016. At the same time, the total volume of net sales of the industrial production made by FEZ residents grew by 49.1 per cent in January-December 2017 against the year before. Last year, there were 11,926 employees of FEZ residents.   

(Reporter N. Sandu, editor L. Alcaza)