A scheme to invest in filmmaking and other  audiovisual productions will be implemented in Moldova. This state mechanism will ensure the reimbursement of 25% of the costs incurred on Moldova’s tertiary plus another 5% if the films and other audiovisual products are promoted. This is provided in a bill that was adopted by Parliament in the final reading on July 13, IPN reports.

The goal is to create the regulations to facilitate the attraction of foreign investment to make films and other audiovisual products and to support the production of movies, serials, animated cartoons, documentaries, modern TV programs, reality shows, advertisements, etc. The authors of the bill that was drafted in concert with media experts aim to attract investments to the country, to develop the national filmmaking and audiovisual sectors and to contribute to increasing the volume of productions, including national ones.

Corneliu Mihalache, one of the authors, said Moldova could develop businesses collateral to international productions and could provide segment services, such as dubbing and subtitling. Among the objectives is to attract foreign investment to filmmaking and other audiovisual productions on Moldova’s territory.

The bill authors noted this system is known as Cash Rebate and is implemented by a large number of states at 16% to 40% cash rebate rates. This proved its positive impact on the attraction of investment, development of the movie production sector and cinematographic and audiovisual cooperation.