Moldova’s financial sector is evolving rapidly, according to Veaceslav Negruta, Minister of Finance. He explains, “We are communicating to the Moldovan people that the government is focusing on EU integration and on creating more opportunities for domestic and foreign investors in Moldova.”
“As for our financial sector, we did not allow foreign banks in Moldova in 2009 and now we have changed all that. Investors are increasing their capital in our banking system. We are also moving forward in the privatisation process, including privatisation of Moldtelecom, and now we have only one bank which is 56% state owned. Société Générale has entered the market, and increased competition has boosted the quality of the banking sector for all.”
The Ministry of Finance is doing its part to enhance Moldova’s attractions for foreign investors. “We have good legislation and we provide information to help investors make good choices. In addition, Moldova’s zero percent tax on reinvested profits is a very good incentive for investors,” Veaceslav Negruta points out.