PARLIAMENT RAISES NUMBER OF FREE ENTERPRISE ZONES IN MOLDOVA
05.03.2010
The Moldovan Parliament has approved the Law on setting up a free enterprise zones (FEZ) in Balti. It will create up to 7 thousand jobs and machine building products.
The seventh free enterprise zones (FEZ) of Moldova is created for 25 years and two land plots, covering totally 12 hectares near the highway and the railroad situated in 30 km from the Marculesti international free port, were allocated for this purpose.
The Balti free enterprise zones (FEZ), like its previous residents, received a number of privileges, envisaged by the Framework Law on Free Enterprise Zones, the Customs and Tax Codes.
The Draexlmaier Moldova, which is an enterprise with the participation of foreign capital, and which is the initiator of this zone, will become the first resident of this zone. It settled down in Balti three years age and it produces electric wires and vehicle-borne systems for automobiles BMW, Mercedes-Benz, Volkswagen, Audi.
The Draexlmaier investment portfolio includes projects worth 25 million Euros, with the help of which the company must reach finally the total output worth over 500 million lei a year - 90% of export-oriented products.
After a number of organizational procedures the Government will have to appoint the FEZ administrator, one of whose task will be the attraction of other residents on the basis of a contest.
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