Classification of most important 2007 economic events in Moldova by Academy of Sciences

The Institute of Economy, Finance and Statistics of the Academy of Sciences of Moldova identified ten most important economic events of 2007 by analysing the outcome of economic activities. The first position is taken by the initiatives on the liberalisation of the national economy that envisage the legalisation of capital, voluntary declaring of the owned financial resources and assets, institution of fiscal amnesty, modification of the taxation system for legal entities by introducing the zero tax rate on reinvested profit. Another important event is the formulation of the National Development Plan for 2008-2011 that builds on five strategic priorities and namely: building of a modern democratic state based on the principle of preeminence of law; settlement of the Transnistrian dispute and the country’s reunification; enhancement of the national economy’s competitiveness; employment and development of human resources, and regional development. The obtaining of autonomous trading preferences in the trade with the European Union is the third most important economic event of 2007. The next significant events are: the putting in commission of the oil terminal in Giurgiulesti on September 12, 2007, the construction of the gas main Tocuz-Cainari-Mereni and the setting up of industrial and technical-scientific parks and of innovation incubators. The Academy says that the latter will stimulate the attraction of investments as they have all the necessary conditions of activity, especially the needed infrastructure. The joining and taking over by Moldova of the presidency of CEFTA (Central European Free Trade Agreement) is the seventh major economic event considered an important step towards increasing trade and improving cooperation within regional initiatives and towards European integration. The resumption of wine exports to Russia on October 9, 2007 is considered a significant event for the national economy, which was seriously affected by the ban on wine imports imposed by Russia. The foreign investments take the ninth position in the list. The Academy says that the foreign direct investment in Moldova over January-September 2007 totalled about 7.52 billion lei. The French company Group Societe Generale invested 18.4 million euros of this sum. It purchased a 70.57% holding in Mobiasbanca, which is the fifth bank by size in Moldova. The tenth important event is the repair of the international road Chisinau – Leuseni, which is about 100 km long and connects the customs post Leuseni and the municipality of Chisinau.