An online business barometer, relevant to the business communities on both banks of the Nistru, has been launched

February 8, 2023

On 8 February 2023, was launched, a portal that analyses the business climate and investment potential on both banks of the Nistru river. The tool was created with the support of the France-Moldova Chamber of Commerce and Industry and the Romanian Investors in the Republic of Moldova Association, in partnership with the Tiraspol Chamber of Commerce and Industry. The European Union co-financed this initiative, through its Confidence Building Programme, implemented by UNDP Moldova.

"I welcome the initiative of this first business barometer, supported by the Moldovan-French Chamber of Commerce and the Association of Romanian Investors from the Republic of Moldova, with the support of UNDP and the European Union. More than the raw numbers, what is interesting is being able to regularly measure the evolution of the perceptions of entrepreneurs. This barometer, which is a useful tool for identifying the expectations of the business community, is intended to contribute to reflections on the promotion of business activities for the development of the Republic of Moldova," said Paul Graham, the Ambassador of France to the Republic of Moldova.

The Ambassador of Romania in Chișinău, Cristian-Leon Țurcanu, declares: "I want it to be a successful project that continues as long as possible and to involve many companies. It is an open instrument in which each input from each company contributes to the consolidation of this barometer, which first of all aims to provide a clearer and more realistic picture of the investment climate throughout the territory of the Republic of Moldova, which means new possibilities and opportunities for companies that want to operate here."

The platform reflects data provided by 400 economic agents surveyed in the fall of 2022. Large and small companies operating on both banks of the Nistru were surveyed regarding their turnover, investments, profit, increase or decrease in the number of employees, appreciation of the dialogue with the authorities, the general perception about the economic situation. The information presented in the barometer will be updated twice a year.

“Although we are faced with these multiple crises that affect both directly and indirectly the way the business environment in the Republic of Moldova evolves, it is essential to remain strong and able to constantly adapt, taking into account both risks and opportunities,” said Dan Nuțiu, Executive President of the Romanian Investors Association.

“Together with our partners, we offer the Moldovan authorities a new tool for evaluating how entrepreneurs feel about the economic situation, the business climate and the evolution of their company’s situation. Although the barometer does not replace the necessary exchanges that investors have with the authorities, it is based on a serious and independent methodology. It is a complementary decision-making tool that provides insight into the morale of entrepreneurs at a given moment and allows monitoring its evolution over time. We hope that this instrument will be perennial,” said Emmanuel Skoulios, President of the France-Moldova Chamber of Commerce and Industry.

Thus, several surveyed companies stated that they have reduced their investments, have lower turnover and recorded reductions in employees. However, more companies reported increases in profit, compared to the number of those that recorded decreases in this indicator.

Among the main problems faced by companies is the increase in prices, including raw materials and other components of production costs. This issue specifically affects at least 78.1% of all surveyed companies. More than 44% of companies have their activity disrupted due to the war in Ukraine, including problems with raw material supplies, transport, market and other aspects. Lack of qualified employees is a challenge for 41% of companies.

The following obstacles were also highlighted: the disruption of sales channels and the difficulty of identifying new customers (35%), high taxes (29%), imperfect legislation (16%), difficult limited access to financing (15%), difficulties encountered in the relationship with state institutions (13%), corruption (8%). Only 0.5% of companies mentioned that they do not face any major problem.