ECO-BUS WEEKLY DIGEST June 4-9. Most important Economy & Business news by IPN

MONDAY, June 4

Changes proposed to regulations on financial services procurement

The Ministry of Finance proposed a bill to update the regulations concerning the procurement of financial services by state/municipal enterprises and commercial organizations with full or partial state capital for public debates. Thus, if the contest to attract financial services is rerun and only one bid is submitted, the contest will not be suspended as now. Another change refers to the prudential norms that should be respected by the banks that provide financial services. The non-correspondence of the prudential norms in the space between the signing of the financial services procurement contract and its expiry will lead to the termination of the contract.

Activity of Customs Service regulated by new law

As of June 2, the activity of the Customs Service is regulated by a new law that was adopted by Parliament last yearend. Thus, the director general of the Customs Service will be chosen at a contest for a term of five years. Under the new law, the vacant or temporarily vacant post of customs functionary will be filled on a contest basis and the performance will be assessed based on individually set objectives.

● TUESDAY, June 5

Dozens of people on visit to National Bank on Open Doors Day

Dozens of persons eager to know how a central bank works visited the National Bank of Moldova within the Open Doors Day on June 4. The visitors listened to presentations on different financial subjects and on the history of the national currency in brief. In the exhibitions hall, the visitors, both children and grownups of different ages, discovered a collection of coins used as legal tender and of commemorative golden and silver coins issued by the National Bank and by other central banks.  They also learned about the security features on banknotes, cashless payments and the currency exchange. The novelty of the event was a presentation entitled “What one should pay attention to when applying for a loan”.

Termoelectrica and InfoBon launch Electronic Bill Service

As of this June, the heat bills can be received by email as well. SA Termoelectrica and InfoBon have launched the Electronic Bill Service. To activate the electronic bill, the consumers should go to 6 T. Vladimirescu St (of. 308) in Chisinau and fill out an application form  and present the identity card and documents that confirm the ownership right or right to use the apartment for which the service is requested. The new service offers multiple advantages, such as permanent secured access to the payment document. The consumers will no longer have to check the mailbox. On the other hand, the bills can be stored electronically and the person has access to payment documents in any period.

Property tax paid at a 15% discount until July 2

The taxpayers who will pay the property tax in advance this year will also benefit from a 15% discount. The deadline for paying the tax beforehand is June 30, but given that this is a Saturday, the time limit was extended until July 2. Gherghe Gasnasm, section head at the State Tax Service, has told that Article 171 of the Tax Code allows for such a transfer. The property tax can be paid fully or in instalments by August 15 and by October 15 respectively. A penalty of 0.0329% for each day of delay is imposed in case of voluntary non-payment. The notice is issued to taxpayers not later than within 60 days of the expiry of the first tax payment term, which is August 15.


Information about waste to be stored in electronic register

The Cabinet approved the concept of the Automated Information System “Waste Management” that will enable to more efficiently manage waste. Thus, under the concept, the information about waste will be stored in an electronic register that will ensure the monitoring of the circulation of produced and collected waste. The information for filing in the register will be provided by authorized waste management companies. The digitization of information is expected to improve the activity of sector operators.

43 more communities in Moldova to have access to fiber optics

A number of 43 more communities in Moldova will have access to fiber optics so that the whole country will be covered with optic fiber. The investment will total 45 million lei. The broadband networks development program provides that all the communities in Moldova will be connected to at least 30 Mbps broadband until 2020. The number of households with access to high-speed Internet will rise to 60% of the total.

Concept of Information and Communication System on Market Surveillance approved

The Cabinet endorsed the technical concept of the national Automated Information and Communication System on Market Surveillance. The introduction of the given system is envisioned in the plan of action for implementing the Moldova – EU Association Agreement for 2017-2019. The system will support in an automated regime the market surveillance measures as regards the sale of nonfoods by organizing the interaction and exchange of information between the market surveillance authorities and the customs body.

Investment activity up 2.9% in three months

The investment activity in the Republic of Moldova in the first three months of this year grew by 2.9% compared with the corresponding period last year, to about 2.4 billion lei. The Ministry of Economy and Infrastructure said that among the main factors that fueled the growth were the rise in private investment supported by the increase in lending to the national economy and augmentation of investment financed with local public budget funds.The private investments were the main source of growth for investment in the first quarter of this year. These came to 1.9 billion lei (+5.1%), which is about 77% of the total investment.

Exports of fruit of new harvest much higher than last year

As many as 3,450 tonnes of cherries, 1,355 tonnes of strawberries and 5 tonnes of sour cherries of the new harvest have been exported from Moldova so far. The exports of cherries and strawberries in the corresponding period last year were 630 tonnes and 223 tonnes respectively. Sour cherries were exported much later than June 5 owing to the mid-April snowfalls that affected the harvest.

Moldova to host third Global Conference on Wine Tourism

Moldova will host the third UNWTO Global Conference on Wine Tourism on September 6-7. To be able to organize the event, the Government approved a relevant agreement with the United Nations’ World Tourism Organization and will submit it to Parliament for ratification. The agreement sets down the conditions of organizing the conference, the concessions and services that will be offered to participants. Activities to promote wine tourism and workshops will be staged as part of the event. There will be organized visits to tourist attractions in Moldova and ensured the exchange of experience.

Flock of sheep and goats struck by lightning in Copceac

A flock of sheep and goats was struck by lightning in Copceac village of Ceadir-Lunga village. A number of 43 animals died. According to the local police, the 22-year-old shepherd was taken to the hospital, but this refused to be hospitalized. The sheep and goats were resting under a tree when it started to rain. The lightning struck and hit the animals under the tree. Three days ago, a girl aged four was struck by lightning and killed in the same village. The girl was on a visit to her grandparents and the incident happened when she was gathering apricots in the orchard. An ambulance was called out, but the girl died on the way to the hospital.

Fourth EU Sustainable Energy Week launched in Moldova

The Delegation of the European Union to the Republic of Moldova will stage a series of activities to promote renewable energy in the central park of Chisinau until June 10. The fourth EU Sustainable Energy Week in Moldova was launched on June 6. Head of the EU Delegation Peter Michalko said the event is organized to disseminate good practices and to inspire ideas for developing the energy sector. The global objective is to make sure that 20% of the energy consumption is produced from renewable sources and to cut greenhouse gas emissions by 25% until 2020. “By modernizing this sector, we want to consolidate the energy security of the Republic of Moldova. The sums saved through energy efficiency will be used for positive investments and the citizens will pay less for the consumed energy,” said the official.

What aspects should be considered when applying for a loan

Before taking the decision to raise a loan, one should assess the necessity of this and choose the suitable product. The person should adjust the loan repayment schedule quantitatively and chronologically in accordance with the personal incomes. An inadequate assessment of the loan and an eventual excessive indebtedness can affect the debtor’s credit history, the National Bank of Moldova warned in a presentation during the Open Doors Day. Specialists warn the debtors that this is a commitment undertaken for many years that significantly influences their life. Before asking for any kind of lending instrument, the first recommended step is to seriously analyze the need of obtaining that product. The thorough analysis of the credit contract before signing this is also essential.


Fruit this year will be of a high quality

The fruit harvest this year is projected to reach the annual average of about 600,000 tonnes. The crop was formed and the fruit will be of a high quality, said specialists of the Ministry of Agriculture, Regional Development and Environment. Iurie Mudrea, consultant at the Vegetal Production, Processing and Quality Regulation Division, has told that some of the plants in particular areas are affected by the lack of precipitation. When the grapevine blooms, there should be enough moisture for the development of grapes to start property. However, the vineyards and horticultural plantations now look well.

Trade Unionist’s Day celebrated in Chisinau

The legislative body should adopt the new law on remuneration in the budgetary sector during the current session so that the incomes of budget-funded employees increase as of January 1, 2019. If this does not happen, the citizens will remain only with promises and the disappointment will be great, president of the National Confederation of Trade Unions Oleg Budza stated in the festivity held to celebrate the Trade Unionist’s Day that is annually marked on June 7. Oleg Budza said the Republic of Moldova goes through a difficult period, but they hope that the expected benefits will come in time as the chosen path, of European integration, is a correct one. A new social council under the Prime Minister should be set up as the salaries in Moldova grow very slowly and this happens because of the considerable size of the underground economy.

Working group to be set up to deal with fuel prices issue

A working group will examine all the proposals concerning the quality and prices of fuels. This will consist of representatives of the National Agency for Energy Regulation, the Consumer Protection and Market Surveillance Agency, experts and persons delegated by citizens who are dissatisfied with the rise in fuel prices. Such a decision was taken in a meeting convened on June 7 at the Ministry of Economy following a protest staged in the central square of Chisinau a day ago. “I suggest setting up a working group that will analyze all the initiatives concerning the setting of fuel prices and the quality of fuels,” said Minister Kiril Gaburici. He called on the citizens to notify the responsible institutions when they identify irregularities.

Small wine producers to test quality of wines at lower prices

The enterprises that form part of the Union of Small Wine Producers will be able to test their wines at lower prices than the market one. This is possible following the signing of a memorandum of cooperation between the Union and the Technical University, which owns 12 labs and examination halls outfitted with last generation equipment. According to the Ministry, the memorandum also envisions the training of the Union’s members in using the research and analysis capacities of the laboratories of the Oenology Department of the Technical University of Moldova for facilitating the improvement of the quality of wine products and enhancing their competitiveness on foreign markets.

● FRIDAY, June 8

Quality of fuels will be checked not only in customs posts, but also at gas stations

The quality of gasoline and diesel fuel will be checked not only in customs posts, as until now, but also at gas stations, Iuliana Dragalin, secretary of state at the Ministry of Economy, stated in the program “Moldova live” on the public TV channel Moldova 1, commenting on protesting drivers’ objections to the quality of fuels. Energy expert Victor Parlicov said the problem related to fuel prices derives from the legislation. This appeared now because the international fuel prices until recently were very low and the Moldovan citizens could pay these. Now that the quotations on international stock exchanges grow, the retail prices also grow and the people are dissatisfied.

Measures to increase shareholder transparency in banking sector

The Cabinet approved amendments and supplements to the legislation in a move to increase shareholder transparency in the banking sector. The bill covers the laws on financial institutions, joint stock companies, capital market, bank recovery and resolution and activity of banks. The amendments are aimed at ensuring better corporate governance and at attracting high-quality investors to the banking system. The bill was drafted within the program signed with the International Monetary Fund and was consulted with responsible agencies and ministries and with international experts.


New law on advertising could be adopted towards end of July

A new law on advertising is expected to be adopted towards the end of this July. The bill drafted by media experts of the Independent Journalism Center Eugeniu Rybka and Ion Bunduchi was registered in Parliament by three Democratic MPs led by Andrian Candu. In an interview for Radio Free Europe’s Moldovan Service, Eugeniu Rybka said the bill will remove the danger of appearance of monopoles on the advertising market. According to the expert, the current law on advertising is over 20 years old. It was adopted in 1997 and a lot has changed since then. A new law on advertising is necessary given that a number of provisions of the European legislation are to be transposed to the national legislation. Another argument refers the political advertising outside election campaigns, which is not regulated now. Social advertising is also covered.

Moldova borrowed best EU practices of promoting green energy, opinion

The Republic of Moldova transposed the best EU practices of promoting green energy and renewable energy. Thus, any investor can access the Moldovan market and each Moldovan can install an electricity generation unit to satisfy the personal consumption needs in the own home or yard, deputy head of the Energy Policy Division of the Ministry of Economy and Infrastructure Denis Tumuruc stated in the debate “Energy efficiency and renewable sources of energy” that was staged as part of the EU Sustainable Energy Week. According to Denis Tumuruc, the Aeolian installations and photovoltaic panels are the most appropriate sources of green energy for the Republic of Moldova. The adopted law enables the small investors to go to the National Agency for Energy Regulation and obtain the right to produce green energy, up to 4 MW. As of 2019, this will be possible in the case of large investors as well, which will be able to produce green energy for larger buildings.

Farmland will be leased out for minimum five years, bill

The farmland and other agricultural property will be leased out for a period of at least five years, as against three years at present. The Ministry of Agriculture, Regional Development and Construction suggests relevant changes to the regulations concerning the keeping of registers of lease contracts at mayor’s offices. The lease contracts for a period of five years will be registered at the local mayor’s office that is managing the land and other agricultural property. The contracts signed for periods longer than five eyes will be registered at the local cadastral office.

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