Republic of Moldova : Policy Priorities for Private Sector Development
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Washington, DC
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The Government of Moldova is seeking to
change the country's development paradigm and build an
export-oriented economy characterized by investment,
innovation, and competitiveness, following a decade of
'jobless growth'. This report focuses on
improvements that will be needed to move Moldova to the next
stage of development as envisioned in the Moldova 2020
strategy; however, reforms over the past decade also deserve
acknowledgment. Improving the business environment is an
especially important task, given Moldova's low levels
of natural resources and small internal market. This study
aims to identify the most pressing problems in the business
environment that are adversely affecting Moldovan
companies' productivity and competitiveness, and to
present recommendations that would help remove these
obstacles. The analysis is based on a review of existing
reports; interviews with government officials, private
sector associations, a sample of businesses, and some
subject matter experts; as well as original research on
access to finance. This study has identified that the
following aspects of doing business are the most
problematic: customs administration; tax administration;
business regulation, consisting of licenses, authorizations,
permits, and inspections; the competition framework; and
access to finance. This report presents short-term
(2013-2014) and longer-term (2015-2017) recommendations in
each of the five priority areas.
Palabras clave
ACCOUNTABILITY, ACTION PLAN, AGRICULTURE, AUDITS, AVAILABILITY OF CREDIT, BANKING SYSTEM, BENEFICIARY, BEST PRACTICE, BORROWER, BUSINESS ASSOCIATION, BUSINESS ASSOCIATIONS, BUSINESS DEVELOPMENT, BUSINESS DEVELOPMENT SERVICES, BUSINESS ENVIRONMENT, BUSINESS INDICATORS, BUSINESS PLANNING, BUSINESS REGISTRATION, BUSINESS REGULATION, BUSINESSES, CALL CENTERS, CAPABILITIES, CAPITAL FORMATION, CARTELS, CERTIFICATES, CHAMBER OF COMMERCE, CHAMBERS OF COMMERCE, CLIMATIC CONDITIONS, COLLATERAL, COLLATERAL REQUIREMENTS, COMMERCIAL BANKS, COMPARATIVE ADVANTAGE, COMPETITION POLICY, CONSUMER MARKET, CONSUMER PROTECTION, CONSUMERS, CONTRACT ENFORCEMENT, COPYRIGHT, COUNTRY RISK, CREDIT ASSOCIATIONS, CREDIT INFORMATION, CREDIT INFORMATION BUREAU, CREDIT LINE, CURRENT ACCOUNT DEFICIT, CUSTOM, CUSTOMS, CUSTOMS CLEARANCE, CUSTOMS DECLARATION, CUSTOMS DECLARATIONS, CUSTOMS REVENUE, DEBT, DEBT CRISIS, DEFAULTS, DELIVERY TIMES, DEPOSIT, DEVELOPMENT STRATEGY, DISPUTE RESOLUTION, DOMESTIC MARKET, DOMESTIC MARKETS, E-GOVERNMENT, E-GOVERNMENT PORTAL, E-MAIL, ECONOMIC ACTIVITY, ECONOMIC CONDITIONS, ECONOMIC DEVELOPMENT, ECONOMIC FACTORS, ECONOMIC GROWTH, ECONOMIC PERFORMANCE, ELECTRICITY, ELECTRONIC SIGNATURE, ENABLING ENVIRONMENT, ENERGY CONSUMPTION, ENTERPRISE SURVEY, EQUIPMENT, EQUITY INVESTMENT, EXPORT COMPETITIVENESS, EXPORT EARNINGS, EXPORT GROWTH, EXPORT MARKETS, EXPORTERS, EXPORTS, FINANCIAL CRISIS, FINANCIAL INFORMATION, FINANCIAL INFRASTRUCTURE, FINANCIAL INSTITUTIONS, FINANCIAL INVESTMENTS, FINANCIAL MANAGEMENT, FINANCIAL MARKET, FINANCIAL MARKETS, FINANCIAL SECTOR, FINANCIAL SERVICES, FINANCIAL STATEMENTS, FIRM PERFORMANCE, FIXED CAPITAL, FOREIGN DIRECT INVESTMENT, FOREIGN INPUTS, FOREIGN INVESTMENT, FOREIGN INVESTORS, FREE TRADE, GDP, GLOBAL COMPETITIVENESS, GOVERNMENT POLICIES, GOVERNMENT REGULATIONS, GOVERNMENT REVENUE, GOVERNMENT SERVICES, GROSS DOMESTIC PRODUCT, GUARANTEE FUND, HARMONIZATION, HOLDING, HUMAN RESOURCE, HUMAN RESOURCE MANAGEMENT, IMPACT ASSESSMENT, INEFFICIENCIES IN BUSINESS, INFLATION, INFORMATION ASYMMETRIES, INFORMATION TECHNOLOGY, INNOVATION, INSPECTION, INSPECTIONS, INSTITUTION, INTEREST RATE, INTEREST RATE SPREAD, INTEREST RATES, INTERNATIONAL BANK, INTERNATIONAL FINANCE, INTERNATIONAL TRADE, INVENTORY, INVESTING, INVESTMENT CLIMATE, INVOICE PRICE, JUDICIAL SYSTEM, LABOR COSTS, LABOR FORCE, LABOR MARKET, LABOR PRODUCTIVITY, LACK OF TRANSPARENCY, LAWS, LEGAL FRAMEWORK, LEGISLATION, LEVEL PLAYING FIELD, LICENSES, LINES OF CREDIT, LIQUIDATION, LOAN, LOAN APPLICATIONS, LOAN MATURITIES, LOCAL FINANCE, MACROECONOMIC UNCERTAINTY, MANUFACTURING, MARKET ACCESS, MARKET COMPETITION, MARKET DEVELOPMENT, MARKET ECONOMY, MARKET ENTRY, MARKET PLAYERS, MARKET STRUCTURE, MATERIAL, MATURITIES, MICROFINANCE, MICROFINANCE INSTITUTIONS, MIGRATION, MONETARY FUND, NATURAL RESOURCES, NEGATIVE SHOCK, NEW MARKETS, OIL, OIL PRICES, ONE-STOP SHOPS, OPEN ECONOMIES, OPERATING LOSSES, PENALTIES, PENSION, PENSION SYSTEM, PERFORMANCE INDICATORS, PERFORMANCES, POLICY FRAMEWORK, POLITICAL ECONOMY, PRIVATE CONSUMPTION, PRIVATE SECTOR, PRIVATE SECTOR DEVELOPMENT, PRIVATIZATION, PRODUCTIVITY GROWTH, PROFITABILITY, PUBLIC ADMINISTRATION, QUERIES, REAL WAGES, REGISTRY, REGULATORY ENVIRONMENT, REGULATORY FRAMEWORK, REGULATORY FRAMEWORKS, REGULATORY REQUIREMENTS, RELIABILITY, REMITTANCE, REMITTANCES, RESOURCE MANAGEMENT, RESULT, RESULTS, RETURNS, RISK MANAGEMENT, RISK PROFILES, RULE OF LAW, SAVINGS, SOCIAL SERVICES, STOCK EXCHANGE, SUBSIDIARY, SUPPLY CHAIN, SUSTAINABLE GROWTH, TAX, TAX ADMINISTRATION, TAX CODE, TAX RULES, TECHNICAL ASSISTANCE, TECHNICAL SKILLS, TELEPHONE, TIME FRAME, TOTAL FACTOR PRODUCTIVITY, TRADE FACILITATION, TRADING, TRANSACTION, TRANSACTION COSTS, TRANSFER PAYMENTS, TRANSPORT, UNEMPLOYMENT, USES, VALUATION, VALUE CHAINS, WORKING HOURS