Working Together to Support Growth

On July 3, the Black Sea Trade and Development Bank (BSTDB) held the regional Business Forum “Moldova: Working Together to Support Growth” under the auspices of the Moldovan Government and in cooperation withthe European Business Association (EBA).

The event gathered nearly 300 business participants from Moldova and other countries of the Black Sea region, which exchanged views on best practices that may support increased investments and sustainable growth in the country, with a particular focus on banking sector reforms and access to capital for businesses.

Some opening statements were given by the Minister of Finance of the Republic of Moldova, Octavian Armasu, and President of BSTDB, Ihsan Ugur Delikanli. The statements were followed by two sessions of panel discussions: Attracting foreign investmens to Moldova and Regional best practices to help sustainable growth. Thomas Moser, EBA President was a speaker at the first panel, along with Octavian Armasu, Minister of Finance of Moldova, Igor Leshukov from BSTDB, Heikki Cantell from Nordic Investment Bank, Luca  Lazzaroli from EIB, Christoph Tiskens from KfW Development Bank and Sergiu Harea from the Chamber of Commerce and Industry of Moldova.

Thomas Moser reiterated that a necessary macroeconomic and political stability has been achieved, and specified the key areas which need investments, for example developing facilities and improving road transportation. As specified by EBA President, there is a lack of prioritization. Considering the benefits of DCFTA and the increased exports of goods to the EU, the infrastructure should be pushed towards this market. He has also underlined the need for having diverse suppliers in the energy sector, and the need of financing for SMEs. He continued by exemplifying how EBA is continuously improving the business environment and hinted at the most profitable sectors in the country. 

The second panel of discussions gathered representatives of the National Bank of Moldova, Banks Association of Turkey, Toronto Center, Global Infrastructure Hub and the German Economic Team in Moldova. The Forum finished with the signing of two memorandums and bilateral business meetings with financial institutions, investors and businesses.