Experts of German Agency for International Cooperation to provide solutions to overcome pandemic crisis in Moldova

Chisinau, 28 April /MOLDPRES/ - The situation in the investments sector and solutions in the context of the pandemic crisis were tackled at a today’s videoconference with the participation of Economics and Infrastructure Minister Sergiu Railean and a team of experts of the project, Counseling Moldova’s government on economic policies, implemented with the support of the German Agency for International Cooperation (GIZ).      

The experts said that the crisis situation triggered by the COVID-19 pandemic had changed the plans of local and foreign investors. ‘’In most European countries, a cut in the investment activities has been recorded in the first months of this year. The big companies and international concerns working in Moldova have ceased their extension projects, as well as the new investments for 2020. The main difficulties of the companies consist in the insufficiency of raw material because of the suspension of the work of international providers, decrease in the demand of goods on sales markets, insufficiency of labour force and incapacity of payment,’’ sources of the Economics and Infrastructure Ministry (MEI) said.

According to MEI, the economic evolutions forecast a more difficult recovery of the companies from certain sectors, such as HoReCa, tourism, land or air passenger transport and the services field; yet, another ones might have opportunities of growth. Among them, there are services of Business Processes Outsourcing (BPO), which have a potential of growth of about 60,000 new jobs in Moldova. According to data by the Investments Agency, the BPO services account for about 12 per cent of the local market of outsource services, as companies are already providing a wide range of services, such as relations with clients, data processing, engineering, etc.

According to the economics minister, the pandemic crisis might speed up also the development of the information technology and communications sector, even if the latter is also hit by the restrictions of movement internationally, decrease in demand or delay in payments.  

„For us, it is important that we have answers prepared to the challenges of the pandemic crisis in all sectors of the economy, especially in the investment field. And this given that the foreign investments are essential for the economic growth, competitiveness and employment of labour force. Therefore, the proposals of experts are necessary for the framework of investment policies for the post-crisis stage,’’ Sergiu Railean said. 

Following the discussions, the team of experts ruled to identify a string of instruments for promoting investment opportunities in the post-crisis phase, suggesting them to MEI for inclusion on the working agenda.