OREANDA-NEWS. June 28, 2010. Prime Minister Vlad Filat participated in the opening of Moldova Business Week 2010, the government's press service has said.

In his welcoming speech, Filat thanked those present for their interest in this event of special importance for Moldova.

"The organization of this event, which is attended by foreign investors who are already operating in Moldova, but also by those who we hope will invest in our country, stemmed from one of the objectives set by Moldova, in particular, attracting investments," Filat said.

The prime minister noted that the events that would take place during the investment week were aimed at stepping up investment flows in Moldova, promoting far-reaching investment projects and contributing to the facilitation of dialogue between foreign investors and local companies.

Filat said that after Moldova became a country with open economy, it actively fit into the world economic circuit and has been crossing a string of phenomena characteristic of the modern economy: regional integration, continuous liberalization of the market, diversification of sales markets and foreign operations.

"It is certain that investments are the main factor in the economic development of all the states as they determine its economic growth potential. Therefore, Moldova's economic policy sees the attraction and maintenance of investments as a priority," Filat said.

Vlad Filat said that the investment climate in Moldova is characterized by the protection of investments and private properties, compliance with the principles of market economy, guarantees against groundless expropriation and confiscation of property.

"Our legislation is based on the principle of non-discrimination of foreign and local investors. Foreign investors have the possibility of making investments all over the country and in all the economic branches," Filat said.

The prime minister said that the government has been taking actions to improve the investment and business environment by removing legislative and administrative impediments and by launching incentives for investments. Also, the government has introduced a string of tax incentives, such as the exemption from the income tax and the tax on the purchase of industrial devices meant to produce goods for export.

"Openness towards the attraction of investments and promotion of exports is backed through various bilateral agreements. In this respect, Moldova signed 38 bilateral agreements on mutual promotion and protection of investments, 40 economic cooperation agreements and 17 free trade agreements within the CIS and the Stability Pact for South Eastern Europe. Also, Moldova is a member of the World Trade Organization and benefits from the EU's autonomous trade preferences," Filat said.

Filat also noted that Moldova entered top 10 of the reforming countries according to the report Doing Business 2010 of the World Bank group. He said that Moldova went up 20 positions in the Corruption Perception Index of Transparency International.

The premier also said that Moldova overcame the economic downturn and was under economic restoration. "In the first quarter of 2010, Moldova saw an economic growth of 4.7 per cent compared with the year before, and this allows us being not only optimists but also realists," the prime minister said.

Filat voiced hope that Moldova Business Week 2010 would help participants make a good impression about the country's business environment, which is getting increasingly stable, attractive and receptive.

Wolfgang Behrendt, the head of the political and economic section of the EU Delegation in Moldova, Asif J. Chaudhry, the US ambassador to Moldova, Melanie Marlett, the World Bank country manager for Moldova, and other speakers positively appreciated Moldova's achievements in the implementation of reforms and improvement of the business climate.

Asif J. Chaudhry said that Moldova was ready for investments and trade and recalled the forum of American businessmen held in Chisinau recently, at the end of which cooperation relations with Moldovan partners were established.

The US ambassador reiterated his country's support for Moldova, recalling that Compact Programme of the Millennium Challenge Corporation worth 262 million dollars.

Melanie Marlett said that Moldova was strongly following the vector of reforms and improvement of the business environment, noting that the authorities displayed political will in this respect.

The official specified that the World Bank would continue to back Moldova, pointing out that a decision to earmark Moldova 25 million dollars for agriculture, roads, social assistance and exports would be adopted.

Melanie Marlett handed Top Ten Reformer Award to Prime Minister Vlad Filat. The latter thanked the World Bank, specifying that this was the result of the operation of the Alliance for European Integration and of his cabinet colleagues. Filat gave assurances that the government would further keep the same tempo and the same content in its actions.