MAGDALENA RZECZKOWSKA: MOLDOVA IS ON THE RIGHT TRACK TO CREATING BUSINESS AND INVESTOR-FRIENDLY ENVIRONMENT

Interview given to the INFOTAG news agency by Polish Minister of Finance Magdalena RZECZKOWSKA, who visited Moldova on 19 September.

INFOTAG: Ms. Rzeczkowska, please tell us briefly about the purposes of your visit to the Republic of Moldova.

Magdalena RZECZKOWSKA: First of all, I would like to thank you very much for a very warm and friendly welcome by the Minister of Finance of Moldova, Mrs Veronica Sireteanu.

This is my first visit to Chisinau, and I am very grateful to be here having the chance to discuss bilateral cooperation between our countries. The primary purpose of the visit is to confirm that Poland continues to support Moldova on its path towards accession to the European Union.

From the competence of my ministry, we are ready to share further our experience in the customs and taxation field.

As the effect of our ongoing bilateral talks, today we have signed the Memorandum of Understanding, which will outline the solid scope of our future tax cooperation within the Tax Solidarity Programme.

This is the project that provides assistance in the matter of increasing tax revenue through modernised tax systems and more efficient tax collection.

During our meeting with Mrs Veronica Sireteanu and the Heads of the Moldavian Customs and Tax services, we discussed our bilateral cooperation's challenges, opportunities and future plans.

INFOTAG: Is the Polish Ministry of Finance ready to share experience with Moldovan colleagues regarding more effective implementation of European standards and norms on the path to Moldova's integration into the EU?

Magdalena RZECZKOWSKA: Yes, and we have already been doing that. Polish National Revenue Administration (NRA) has constantly supported Moldova in the field of customs and tax services.

Our Administration has declared participation in the EUBAM workshop on inter-agency cooperation in the field of market surveillance and consumer protection (in October), the beneficiaries of which will be officers of the Customs Service of the Republic of Moldova and the State Inspectorate for Supervision of Non-Food Products and Consumer Protection.

In November 2023, our experts from the NRA will participate in the session of workshops and trainings for the Moldavian administration, within the EU Eastern Partnership Programme.

Finally, at the turn of November and December this year, our taxation experts are planning a scope mission to Moldova to settle the objectives of the upcoming year's cooperation on the Tax Solidarity Programme.

INFOTAG: What would you advise the Moldovan authorities to do to speed up the European integration process?

Magdalena RZECZKOWSKA: European integration is a complex, multi-level and multi-dimensional process that is constantly evolving.

A positive approach and high-level political will are necessary, but it is the cooperation at the operational levels that really brings institutions and organisations closer together and creates real integration.

This requires close cooperation between the Moldovan administration and its European counterparts.

Sharing knowledge, experience and best practice is a valuable tool. Polish experts are working closely with their Moldovan counterparts and we are open to increasing our support in the area of public finance as well.

INFOTAG: What, in your opinion, should Moldova's economic and financial authorities do to increase the flow of direct Polish investment into the Moldovan economy?

Magdalena RZECZKOWSKA: Foreign investment is a strategic decision-making process in which investors must weigh the risks and potential rewards.

Any company considering allocating its funds and assets to the Republic of Moldova will ask itself the following questions:

• - What is the level of transparency and comfort of the operating environment?
• - When will it start generating returns?
• - How long will it remain profitable?

Countries and regions worldwide understand that these are vital factors that need to be clearly communicated to potential investors to attract their attention.

Moldova has many assets and incentives that can attract investors and traders, but the above questions must be answered and confirmed by legislation and practice.

From our perspective, a fair, balanced and transparent tax regime is crucial for attracting foreign direct investment and stimulating economic growth.

Taxation provides necessary resources for governments to invest in critical infrastructure, public services and social welfare programs, understood also as human capital.

In my opinion, though there is still work to be done, Moldova is on the right track to create an even more business and investor-friendly environment.

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"From our perspective, a fair, balanced and transparent tax regime is crucial for attracting foreign direct investment and stimulating economic growth. Taxation provides necessary resources for governments to invest in critical infrastructure, public services and social welfare programs, understood also as human capital. In my opinion, though there is still work to be done, Moldova is on the right track to create an even more business and investor-friendly environment".

Magdalena RZECZKOWSKA

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INFOTAG: In your opinion, will Poland support starting negotiations for the Republic of Moldova on accession to the EU?

Magdalena RZECZKOWSKA: Polish authorities not only expressed our support for Moldovan EU accession policy but also acted by providing material, expert and financial aid to the central and local authorities in the Republic of Moldova on numerous occasions.

Our experts work closely with the Moldovan government and its agencies on a daily basis.

On the other hand, representatives of the Moldovan administration participate in many projects in Poland – conferences, trainings and workshops.

Implementing integration policies takes intensive cooperation not only on the high political level but also on day-to-day contacts on the working level.

INFOTAG: Thank you for the interview!