The EU and Moldova uncover investment opportunities at the EU-Moldova Private Sector Mobilisation Mission
Today the EU launched the EU-Moldova Private Sector Mobilisation Mission in Chisinau. This high-level event aims to promote greater awareness of the opportunities offered by the EU’s financial instruments in support of investments and to the private sector in Moldova.
Bringing European and Moldovan businesses together
The event brought together over 200 European and Moldovan companies, business associations, representatives of Moldovan authorities and agencies working on investment promotion to explore investments and commercial opportunities in the fields of renewable energy, agri-food and digital technologies in Moldova.
The mission was led by Ms Adrienn Kiraly, DG NEAR Director for the Neighbourhood East and Institution building, who was accompanied by high-level representatives from the Government of the Republic of Moldova and International financial institutions.
Unlocking opportunities in renewable energy, agri-food and digital technologies
In each of the three dedicated sessions, the participants discussed the opportunities for cooperation and growth.
With only 6% of electricity consumption in Moldova represented by renewable energy in 2023, the Republic of Moldova is committed to increase the share of electric energy produced from renewable sources up to 30% by 2030. The EU is working closely to support SMEs with renewable energy and sustainability projects, with initiatives such as EU4Environment and EU4Climate, as well as larger investments in renewable energy generation
Agriculture remains the main pillar of the Moldovan economy. Around one third of the country’s labour force works in the agricultural sector. Combined with the food processing industry, the sector represents more than 16% of GDP and approximately 45% of total exports. The EU has gone a great mile to support the momentum, such as boosting Moldovan farm operators with loans and helping small food producers integrate into global supply chains.
Since digital transformation has become one of the priorities of the EU, entrepreneurs are encouraged through EU4Digital and various EU programmes to invest in innovations that streamline and automate processes. With the EU help, Moldovan grape grower established the digital winery and farmers went high-tech with modern agricultural drones, to name a few.
Dumitru Alaiba, Deputy Prime Minister, Minister for Economic Development and Digitalization: “As we advance on the path towards EU integration, we remain resolute in our dedication to modernize and diversify our economy through targeted reforms. These reforms aim not only to benefit society at large but also to enhance the welfare of every citizen. This involves aligning national regulations and standards with those of the European Union, increasing the competitiveness of our companies, creating an environment that would encourage investment inflows, generating new jobs, and developing existing and new economic sectors and industries”.
Adrienn Kiraly, European Commission (DG NEAR) Director Neighbourhood East and Institution Building said: “The EU-Moldova Private Sector Mobilisation conference comes at a key moment, following the historic decision of the European Council to open accession negotiations with Moldova. This conference offers a platform to present the opportunities and benefits of EU integration and the potential of EU financial instruments to the Moldovan private sector and stakeholders. This event is part of the European Union’s wide-ranging support for the private sector in Moldova under the Economic and Investment Plan”.
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Background
The EU-Moldova Private Sector Mobilisation Mission is an EU initiative financed under the EU4Business. EU support to Moldovan private sector, under the EU4Business umbrella initiative helps generate and sustain jobs, stimulate higher SME growth, and expand SME exports.In 2022, the initiative funded 30 diverse projects with a total of over EUR 132 million, benefiting 6,328 SMEs. Together, the projects generated around 22,427 new jobs and drove a notable 30% increase in the total turnover of SMEs in Moldova. Read more: www.eu4business.eu.
Citizens’ Summary Moldova 2023: LINK
