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Foreign investors are concerned about the worsening dia-logue with Moldovan authorities

Foreign investors are concerned about the worsening dia-logue with Moldovan authorities

The Foreign Investors Association (FIA) expresses its deepest concern with regards to recent developments in the communication between Moldovan authorities and the business community.

The insertion in a non-transparent way of a considerable number of new provisions into the draft tax policy for the year 2013, after the finalization of the consultation process, has developed its faulty essence. Moreover, a missing cost/benefit analysis for the proposed policies, imposes its authors to operate more with emotional reasons than with pragmatic arguments, of economic nature.

Thereby, on June 21, after the Government meeting, the Minister of Finance, Veaceslav Negruţa, deliberately mislead the public opinion by distorting the role of  governmental in-stitutions in creating a healthy competitive business environment. Calling upon principles of a market economy, he suggested that it should constitute a normality that local opera-tors have to face competition, without bothering that in reality the Moldovan market is flooded with smuggled goods. This statement is even more regrettable when it comes from a person who has in his supervision state bodies responsible for collecting taxes: Tax Inspectorate and the Customs Service, the latter being directly responsible to fight smug-gling.

Along with promoting the interests of its members to create a favorable investment cli-mate, another mission of FIA is to defend the rule of law, which is essential for the protec-tion of investments and, therefore, for a perspective of economic development. The above mentioned principles determine the full functionality of state institutions to protect the market from smuggled goods. FIA is currently witnessing an impressive growth of the lat-ter, especially in the consumer business, but also on the energy market.

FIA members understand the difficult situation in which the Republic of Moldova is at this stage and urge the government representatives, responsible for drafting and approving the fiscal policy, to refrain from denigrating statements addressed to foreign companies -  which constitute one of the main sources of public revenue. However, FIA firmly believes that viable solutions may be found only through a civilized and constructive dialogue.

Foreign Investors Association (FIA) was founded in September 2003, nowadays incorporating 14 largest foreign-owned companies in Moldova, whose total investment exceeds $ 950 million, providing employment for more than 15,000 employees. The major objective of FIA is to create an effective framework for cooperation with decision-makers for improving the investment climate in Moldova.


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