​ STABILITY IN THE COUNTRY MAY IMPROVE SITUATION ON CORPORATIVE MARKET – NCFM DEPUTY CHAIRWOMAN

After restructuring, the Moldovan corporate market will reach a turnover worth 1 billion lei and even higher, said Deputy Chairwoman of the National Commission for Financial Market Administrative Board Nina Dosca.

In an exclusive interview to Infotag, she said that all European Union member countries encountered difficulties in implementation of the EU directives for the government security corporative market.

“We hope that after the restructuring completes, the situation in the capital market will considerably improve. We have to develop a remote system of transaction, a central depository with modern electronic systems. We have to move only forward. We hope that the capital market of Moldova will revive, while entrepreneurs will understand that it is easier to attract investments by means of financial instruments, than to sign agreements on credits with banks”, Dosca said.

At the question why most of Moldovan citizens prefer to keep their savings in the form of deposits in banks, but do not try to use a part of free money for buying assets, traded in the corporate security market, Nina Dosca said that in the past people got disappointed about such types of money investing.

“The privatization, which became a start of creating capital market in Moldova, did not bring tangible results. People, who got shares instead of national patrimonial bonds, hoped to get high dividends. We keep receiving complaints, in which people are dissatisfied that they did not get money as dividends so far. Another reason is the competition between banking instruments. Interest rates on deposits in banks are not charged with tax on income unlike dividends, paid to shareholders”, Dosca explained.

The NCFM Deputy Chairwoman said that in future, the regulator is planning to come to a new level of capital market development.

“But for this, it is necessary not only the NCFM’s will, but also favorable conditions for attracting investments, including the political and economic stability in the country”, said she.