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SITUATION IN MOLDOVAN BUSINESS ENVIRONMENT KEEPS IMPROVING – BAROMETER

16 june, 2016
SITUATION IN MOLDOVAN BUSINESS ENVIRONMENT KEEPS IMPROVING – BAROMETER Situation in the Moldovan business environment improved in 2Q2016 against 1Q2016. These are the results of a business barometer, conducted by the France-Moldova Chamber of Commerce and Industry (CCI France Moldavie), the Association of Moldovan-German Economic Cooperation (MDW) and the company Magenta Consulting.

 

CCI France Moldavie Chairman Emmanuel Skoulios said at the Thursday’s news conference at Infotag that the calm in political and social sphere, which established after the new Government’s arrival, had a positive effect on Moldova’s business environment.

 

Among positive steps of the Government he emphasized the introduction of moratorium on state control, activation of dialog between the authorities and the business community, the appointment of new National Bank of Moldova (NBM) governor.

 

This is especially important for foreign companies, in comparison to local enterprises, as well as for the agricultural sector. Companies with the activity, directed to foreign markets, remain more cautious, even if the witnessed trends are quite positive against 1Q2016, Skoulios said.

 

MDW Administrator Gerhard Ohrband said that the barometer is aimed at showing changes in the enterprises’ activity, but not assess their reasons.

 

Magenta Consulting representative Andrei Ciobanu said that entrepreneurs’ expectations for the next quarter of the year are positive.

 

According to him, in 1Q2016, enterprises’ activity was lower than expected, but they have more optimistic forecasts for the next quarter.

 

“Banking and insurance sector demonstrates a more pronounced optimism in comparison to previous quarter, this is a positive sign for the country’s economy. As for investments, forecasts of enterprises’ heads for the next quarter are also positive. Enterprises in all the spheres of activity expect considerable investments and only the production sector remains neutral in its forecasts”, the expert said.

 

Commenting on the situation in the employment field, Ciobanu said that in last quarter, enterprises which were more careful lowered the number of employees. Only firms in food industry, agriculture and banking sector registered a higher number of employments than expected. Forecasts for the next quarter are positive in many companies.

 

According to Magenta Consulting representative, in 1Q2016, enterprises’ profit declined, despite the earlier forecasts and expectations. Enterprises with foreign capital were less affected than local. Expectations for the next quarter are positive for all sectors, except the banking system, where these remain neutral.

 

He said that business people’s positive forecasts for the next quarter show that they are quite calm about the enterprises’ activity.

 

“The resumption of international financial assistance for Moldova from the International Monetary Fund, resumption of cooperation programs with the EU, progress in combating corruption and justice reform implementation are vital for regaining business community’s trust to Moldovan authorities. Though the political and social instability finished, the business community keeps being careful in its relations with authorities”, Ciobanu said.

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