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European Training Foundation contributes to chapter on human capital in Moldova's SME Strategy

European Training Foundation contributes to chapter on human capital in Moldova's SME Strategy
Together with the OECD, the European Training Foundation has contributed to a chapter on human capital in Moldova’s Small and Medium-size Enterprise Strategy for 2012-2020, which was launched by the country’s Economy Ministry in October.
“Around the world SMEs are the foundation of sustained economic growth and social development,” said Siria Taurelli, an ETF expert and country manager for the Republic of Moldova. “The ETF helped draft the chapter on human capital of the new strategy, which emphasises the role of skills and entrepreneurial culture for the competitiveness of SMEs.”

The new strategy takes into account both the latest economic developments and harmonisation with the Small Business Act for Europe. The strategy sets more specific priorities to develop SME potential within the economy. It establishes a basis for raising confidence between business and the authorities and can create a favourable environment for doing business in general.
In recent years, the number of small businesses in the country has grown considerably and they now account for 97.7% of the total number of enterprises. Recent statistics show that some 59% of employees work in SMEs. However, the global financial and economic crisis has had adverse effects on the sector. In 2010, SMEs’ contribution to the overall national income (GDP) amounted to 28.3% - 6.7 percentage points lower than 2006.
The European Training Foundation is an agency of the European Union established to contribute to the development of the education and training systems of the EU partner countries. With an annual budget of €18 million, its mission is to help transition and developing countries to harness the potential of their human capital through the reform of education, training and labour market systems in the context of the EU's external relations policy. (EU Neighbourhood Info)


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