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World Bank in Moldova – The key constraints to private sector development

World Bank study outlines key constraints to private sector development in Moldova

Interview with Melissa Rekas

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Abdoulaye Seck, World Bank Country Manager for Moldova

”We are delighted to be strengthening our partnership with the Ministry of Economy and Minister Lazar on the very important agenda of improving the business environment. Moldova’s small market and lack of natural resources call for openness, smart business regulations and efficient trade policies and practices. These have the potential to help Moldova capitalize on its comparative advantages and successfully change its economic paradigm to one of export-driven growth.”

The analysis identifies five most pressing problems in the business environment that are adversely affecting companies’ productivity and competitiveness. These are: customs administration; tax administration; business regulation, consisting of licenses, authorizations, permits, and inspections; the competition framework; and access to finance