Chisinau, August 3 (Infotag). Experts from the Moldovan Association for Active Democracy (ADEPT) and the Expert-Grup Analytical Center think the investment climate in Moldova improved in 2Q2006.

Today, the experts convened a news conference in Infotag on the occasion of the coming out of the 3rd issue of their Euromonitor report on how this republic implements the EU-Moldova Action Plan.

ADEPT economist Iurie Gotisan pointed out, in particular, that positive changes in the country’s investment policy had been achieved largely thank to the enforcement of a new law on insolvency, for “now questions of insolvency will be solved exclusively through courts. The State Creditors Board has been abolished, and its authority has been relegated to the Tax Service, to assume these duties from January 2007”.

Another essential achievement, he said, is the shaping of the Strategy of reforming the regulatory fundamentals of entrepreneurial activities in Moldova, along with the strategy implementation plan.

“In accordance with the EU-Moldova European Neighborhood Policy Action Plan, yet another Strategy has been adopted – on the development of small and medium businesses in the period of 2006-2008, and its implementation plan. The Moldovan Chamber for Commerce and Industry has passed a part of its plenary powers on matters of certification of the origin of goods over to the Customs Service. Regretfully, no progress has been achieved in creating an Agency for competition protection”, said the expert.

He admitted that a certain stagnation is being observed in the country’s economic development due to an industrial fall and a trade conflict with Russia.

“In the first quarter of the year, the economic growth in Moldova was 6.2%, or 2% below the 1Q2005 figure, and that was due to poorer outputs in industry and agriculture”, Gotisan said.

In 2Q2006, the Moldovan population’s personal incomes grew up 7-8%, namely by 4% in rural localities and by 10% in cities. That growth, however, was essentially due to money transfers home from Moldovan gastarbeiters working abroad, who sent to their families here 22-25% more cash than in April-June last year.