IntroductionMoldova provides an unusual prospect for people who are considering buying a house overseas. It's a small country next to Romania, which has a large cultural influence in much of the country.
After a decade of deteriorating economic performance, Moldova has successfully stabilized the economy, launched structural reforms to stimulate growth, and begun the process of establishing an effective social protection system. While the Government has made notable progress in the macroeconomic and structural reform process in the last three years, a significant reform agenda remains. Today, Moldova is the poorest nation in Europe, having started out at independence as a middle-income country. With economic recovery only in its second year, poverty is still very high. Moldova has also become one of the region's most heavily indebted countries.
Chisinau is the capital city, with the wonderful blue Church of All Saints, and the most likely place for any investment.
Why Invest in Moldova?These are some of the basic reasons to generally invest in Moldova:
- Favorable geographical position at the crossroads of commercial routes that join Western Europe and CIS countries enhanced by communications and transportation network
- Existence of "Corridor-9" that connects the Baltic States with Greece
- Market access trough Free Trade Agreements with CIS countries and Romania
- Full IMF support for the government's economic policies
- Opportunities for investment in agri-business and light industry
- Low labor force and availability of well qualified labor
- Existence of a sound legal framework for the economic activity of foreign businesses
- Numerous market niches and the possibility of producing superior quality agricultural products
The Republic of Moldova signed bilateral agreements on promotion and mutual protection of investments with 30 States, including the United States of America, France, Italy, Great Britain, Germany, Hungary, Poland, Austria etc. These agreements prevail over domestic legislation.