The Parliament’s commission for economy, budget and finance on Friday discussed a draft law aimed at modernizing Moldova's capital market. The primary goal of the bill is to facilitate local entrepreneurs' access to international capital markets and to create a functional capital market within the country, IPN reports.

The legislative initiative is part of the authorities' efforts to align national legislation with international standards and to support economic development. The proposed law includes significant changes to existing legislation, including amendments to the Law on Joint-Stock Companies, the Law on the Capital Market, and the Law on the National Commission for Financial Markets.

During the meeting, the Minister of Economic Development and Digitalization presented the draft law, emphasizing its importance for the national economy. "This bill is a crucial step towards building a functional capital market, which, unfortunately, we do not yet have in full. Among its main objectives are increasing liquidity, expanding the investor base, attracting investments, including domestic ones, strengthening credibility and trust among investors, and creating a transparent market," said Minister Dumitru Alaiba.

Key measures in the proposed law include introducing new regulations related to shareholder identification, clarifying terms related to intermediation, and defining closed offers. Additionally, the draft law proposes raising the threshold for offers exempt from the obligation to publish a prospectus from €100,000 to €1 million to encourage foreign investments.

The proposed changes will also affect the insurance sector by extending the time frame for the sale of newly issued shares by insurance companies from four to six months. These adjustments are expected to contribute to the financial stability of the market and simplify procedures for investors. The draft law also includes the introduction of a unified license for life and general insurance to facilitate investor access to the local market.

The Minister of Economic Development and Digitalization, who presented the bill, said that it is an important step towards developing a transparent and functional capital market in Moldova. "Modernizing the capital market will increase liquidity, expand the investor base, and strengthen confidence in the local financial market," the minister added.

The bill was drafted by a working group consisting of representatives of the Ministry of Economic Development and Digitalization, the Ministry of Finance, the National Commission for Financial Markets, the National Bank of Moldova and other institutions, in cooperation with business associations. It was given a first reading by the economic commission and is set to be debated and passed by Parliament.

The government believes the bill will help attract foreign investments and support the development of local entrepreneurship. The measures are also in line with the objectives of the National Development Strategy "European Moldova 2030" and the National Program for Promoting Entrepreneurship and Increasing Competitiveness (PACC 2027).