The document developed by the National Bank and the Ministry of Finance and adopted by the Parliament, promulgated by the president and published in the 16.11,2018 issue of Monitorul oficial. As InfoMarket agency reported earlier, the reorganization of the National Committee on Financial Stability was provided for by the Law on the Rehabilitation of Banks and the Banking Resolution and also stipulated by the National Action Plan for the implementation of the Moldova-EU Association Agreement for 2017-2019. According to the law, the National Committee on Financial Stability will act as a structure of interdepartmental cooperation, without the status of a legal entity, which is a macroprudential national designated institution responsible for coordinating the implementation of macroprudential policies and activities to prevent and resolve systemic financial crisis situations. 

This is provided for by amendments to the Regulations on the disclosure of information on services rendered by professional participants of the non-banking financial market, which were approved by the National Commission for Financial Market based on the new provisions of the Law on Non-Bank Credit Institutions. The changes stipulate that a non-bank credit institution provides information to customers about the conditions for granting non-bank loans and financial leasing, including: amount (minimum and maximum); term (minimum and maximum); interest rate; disclosure of the total cost of non-bank loan / financial leasing; actual annual interest, which is specified in the mandatory information provided to the client before the conclusion of the contract (with an example in which all the hypotheses used to calculate

According to the press service of the Organization for the Development of the Small and Medium Sized Enterprises Sector (ODIMM), over the past 3 years, the EU has almost completely opened its market for duty-free imports from Moldova, but not every company knows how to seize this opportunity. In this regard, the EU decided to finance a package of services to support some Moldovan companies to help them understand how to take advantage of working with the EU and how to get access to the European market. This package will be provided through the technical assistance project “Support for the Fundamentals of Quality Infrastructure in the Context of DCFTA in Moldova”, which is funded by the EU and implemented jointly with the Ministry of Economy and Infrastructure. 75 enterprises will be selected out of the companies that express interest.

Moldovan Cabinet of Ministers approved the decision to begin negotiations on a draft agreement between the governments of the two countries. The document contains 17 articles and establishes the basic legal principles aimed at strengthening investment relations and enhancing bilateral economic dialogue between the two countries. As the Minister of Economy and Infrastructure of Moldova, Chiril Gaburici, noted, the draft agreement was handed over to Moldova by the Italian side. 

Questions relating to the organization of this business forum – the most important economic event of the year, were analyzed at a meeting chaired by Prime Minister, Pavel Filip. The head of government called for ensuring a good organization of this event, which is aimed at promoting the country’s image at the international level and opening the way for new initiatives. In this context, the Prime Minister stressed the importance of the participation of foreign companies in the forum and of attracting those who are looking for opportunities to expand business in our country. 

The World Bank considers the recently approved amendments to the Tax and Financial Amnesty Law as a step forward, and urges the authorities to implement them effectively in practice without delay. “We will cooperate with the authorities to assess the impact of legislation on tax and financial amnesty, with an emphasis on its implementation, both before and after these amendments. We will also monitor the adequacy of controls to manage the associated fiscal and management risks,” said in the report of the Permanent Mission of the World Bank in Moldova. As InfoMarket agency reported earlier, on November 8, the Parliament immediately passed two readings in an amendment to the Law on Voluntary Declaration and Tax Incentives, which among other things stipulate that the amount of the duty charged to the state budget of Moldova, with voluntary declaration of funds, was raised from 3% to 6 % of the declared amount.