Business Barometer in the Republic of Moldova: Upward trends for all indicators

The Business Barometer in the Republic of Moldova improved considerably in May 2023 compared with the similar poll conducted in December 2022. Even if the war in Ukraine further affects most of the economic sectors in the country, all the indicators of the barometer follow upward trends, the executive director of iData, Mihai Bologan, stated in a news conference  titled “Business Barometer in the Republic of Moldova” which was hosted by IPN.

In general, a larger number of companies reported higher investments compared with 2022. However, a higher number of companies reported declines in the volume of investments than those that reported rises. Mihai Bologan presented the main indicators showing the difficulties encountered by companies.

“The rise in prices continues to affect two thirds of the companies. We have a figure of 67%, as opposed to 78% last December, when over three quarters were affected by the increase in prices. The absence of skilled workers comes second, up from the third place, with practically the same percentage - 41%, up from 40%, which are companies experiencing a shortage of skilled personnel. The difficulties related to the situation in Ukraine rank third, down from the second place. In December 2022, 44% were affected by this situation, but now the figure stands at 37%, which is also a decline. The difficulties in selling goods and identifying new clients come fourth. One third of companies encounter this problem, as last December. The number of companies experiencing the burden of heavy taxes rose slightly from 29% last December to 32% in May 2023. The imperfect legislation affects each sixth company, as in the previous wave. Fewer companies are affected by the difficult access to finances – 13%, by difficulties caused by the work of state institutions – 9%. Corruption grew slightly, from 8% to 9%. Against the previous survey, when only 1% said that they do not face any problem, currently 5% said that they do not encounter any problem. This way, we have improvements as regards the structure of problems faced by the companies. This is somehow in correlation with the data of the barometer,” stated Mihai Bologan.

The executive president of the Association of Romanian Investors in Moldova Dan Nuțiu said the role of this barometer is to serve as an instrument of assistance for the authorities and business community of the Republic of Moldova. “The tendencies are positive and this is heartening. The presence of such varied areas in the questionnaire can provide a much more correct and coherent picture. Even if there is time until then, in the current times we cannot be sure of anything, but I’m confident that in the third wave in autumn, these tendencies will continue being positive. This is felt,” stated Dan Nuțiu.

According to him, the investors from Romania are attracted by the Republic of Moldova as an investment destination and the European investors similarly show an increased interest in the Republic of Moldova, especially after the European Political Community Summit that was hosted on June 1. “I said it and I reiterate that the Republic of Moldova was definitely placed on the map of Europe,” noted Dan Nuțiu.

The second Business Barometer in the Republic of Moldova was produced to diagnose the investment climate and investment potential of the country. The Association of Romanian Investors in Moldova and the France-Moldova Chamber of Commerce and Industry, in partnership with the Tiraspol Chamber of Commerce and Industry, created an information tool accessible to the authorities, potential investors and the general public. The initiative was co-financed by the European Union through its Confidence Building Program that is implemented by UNDP Moldova.

The news conference entitled “Business Barometer in the Republic of Moldova” was staged within the framework of the project “Double integration by cooperation and informing”, which is implemented by IPN News Agency with the assistance of the Department for the Relationship with the Republic of Moldova of the Government of Romania.

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