Free economic zones should become centre of industrial innovation, development in Moldova, says expert

Chisinau, 13 August /MOLDPRES/ – Free Economic Zones (ZEL) should become a centre of industrial innovation and development, and for this it is necessary to increase their capacity to attract investments. The Government must strengthen the potential of administration of ZEL in attracting investments, says expert of IDIS Viitorul, Veaceslav Ionita.

In a blog post, the economist notes that "we have ZEL with strong financial capabilities, due to massive investments, large number of residents and their active investment attracting policies. While other areas are, unfortunately, in deep stagnation. So as to solve this issue, it is necessary to start the process of merging ZEL, thus increasing their potential for attracting investments”.

Currently ZEL provide 11 per cent of total Moldovan exports. Due to ZEL, Moldova has succeeded in developing a new industry: automotive (construction of subassemblies for cars). The redefinition of ZEL in Moldova took place with the opening of the Balti ZEL in 2010, which is currently the largest ZEL in Moldova. In 08 years, the investments in the industry through ZEL have amounted up to $280 million, and there were created over 18,000 jobs.

According to the Ministry of Economy and Infrastructure's (MEI) information and media communication service, there were activated 07 free economic zones (free entrepreneurship areas), registering 34 sub – areas in Moldova in 2018. In the seven free economic zones, there were registered 202 residents, out of which 18 started their activity in 2018.

The total value of the investments made in the free zones during their entire activity has constituted $402.4 million, increasing in 2018 by 15.4 per cent or $53.8 million, according to data of MEI.