Republic of Moldova : Policy Priorities for Private Sector Development

World Bank

Republic of Moldova : Policy Priorities for Private Sector Development

2013

World Bank

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.

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AGROVOC Keywords

accountability agriculture best practice business associations businesses capital formation cartels commercial banks consumer protection consumers copyright debt development strategy domestic markets economic conditions economic development economic growth electricity energy consumption equipment exports financial institutions financial market fixed capital foreign investment free trade government services gross domestic product human resource management impact assessment inflation information technology innovation inspection institution interest rates international bank international trade laws legislation manufacturing market access market competition market structure material microfinance migration natural resources penalties pension private sector privatization profitability public administration remittances resource management results returns risk management rule of law savings social services stock exchange trade facilitation transaction costs transport unemployment uses valuation value chains working hours

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Publisher

Washington, DC

Other Subjects

Investment climate; Competition policy; Microfinance institutions; Open economies; Financial crisis; Business environment; Negative shock; Chambers of commerce; Regulatory frameworks; Economic factors; Beneficiary; Current account deficit; Sustainable growth; Labor costs; Collateral requirements; Credit information; Remittance; Market development; Oil; Business planning; Judicial system; Financial statements; Gdp; Banking system; Oil prices; Export competitiveness; Interest rate spread; Political economy; Foreign inputs; Labor market; Holding; Country risk; Credit line; Inventory; Defaults; Financial sector; Lack of transparency; Tax administration; Borrower; Total factor productivity; Invoice price; Exporters; Labor productivity; Labor force; Loan maturities; Action plan; Technical skills; Economic activity; Enabling environment; Real wages; Customs declaration; Interest rate; Availability of credit; Customs; Guarantee fund; Private sector development; Audits; Electronic signature; Local finance; Financial investments; Performance indicators; Equity investment; Customs revenue; Investing; Trading; Queries; Economic performance; Dispute resolution; Legal framework; Business regulation; Loan applications; Export growth; Tax code; Business registration; Business development services; Regulatory framework; Financial infrastructure; Maturities; Technical assistance; Harmonization; Custom; Customs clearance; Business indicators; Market players; Capabilities; Performances; International finance; Telephone; Financial management; Information asymmetries; Private consumption; Macroeconomic uncertainty; Tax rules; Operating losses; Call centers; Credit information bureau; Comparative advantage; New markets; Result; Time frame; Business development; Regulatory requirements; Transfer payments; E-mail; E-government portal; Productivity growth; E-government; Business association; Risk profiles; Liquidation; Delivery times; Market economy; Firm performance; Deposit; Government regulations; Registry; Inefficiencies in business; Enterprise survey; Market entry; Financial services; Supply chain; Policy framework; Lines of credit; Financial markets; Level playing field; Government policies; Export markets; Certificates; Foreign investors; Contract enforcement; Human resource; Debt crisis; Regulatory environment; Government revenue; Pension system; Transaction; Global competitiveness; Loan; Chamber of commerce; Climatic conditions; Inspections; Credit associations; Foreign direct investment; Consumer market; Subsidiary; Collateral; One-stop shops; Monetary fund; Export earnings; Customs declarations; Domestic market; Tax; Financial information; Reliability; Licenses

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http://hdl.handle.net/10986/16026http://creativecommons.org/licenses/by/3.0/World BankCC BY 3.0 Unported

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Republic of Moldova : Policy Priorities for Private Sector Development

2013

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