"The phenomenon of informal economy and employment in the context of the COVID-19 pandemic" Study

Monday 27 December, 2021
Start: Thursday 09 December, 2021 - 10:00

The presentation of the Study “The phenomenon of informal economy and employment in the context of the COVID-19 pandemic”, conducted by Expert-Grup at the request of UNDP Moldova was performed on 9 December.

As a participant at the online event, Ms. Ana Groza, expressed the concerns of the Association of Foreign Investors regarding the fact that the informal economy in Moldova is widespread, registering an increase from 22.4% in 2016 to 25% of GDP in 2019, according to the NBS.
FIA members, the largest investors in the country, are honest companies, with high corporate values in business management, which support transparent and fair competitive practices, are fierce promoters of combating the shadow economy.

Thus, some priority proposals have been pointed out, that hopefully will become POLICIES:
✅ Digitization of services, which will ensure the transparency and record of all processes (especially the elaboration of the Electronic Register of Employees, the amendment of the legislation in order to simplify the procedures for hiring day laborers);
✅ The need to implement the Electronic Sales Register, the digitization of cash and control devices, by registering online transactions, without the possibility of data manipulation – which will send in real time the information regarding the transactions;
✅ Financial and fiscal education of the population. Organizing information and awareness campaigns for civil society on the importance of taxes, pension funds and CNAM, the benefits of making cashless payments, etc .;
✅ Implementation of systematic measures to limit and exclude the import of counterfeit and smuggled products, by strengthening the capacities of the Customs Service, Border Police, law enforcement agencies, including in collaboration with the analogue bodies of neighboring countries, with joint efforts. In particular, we consider it appropriate to set consumption quotas for the Transnistrian region in order to avoid excessive imports of products and to avoid smuggling on the right bank of the Dniester;
✅ Regulation of the activity of agricultural markets (the market being a place for the realization exclusively of local agricultural products);
✅ others.

#FIAMoldova #FIAMeetings

Our Members

Foreign Investors Association (FIA) is a non-profit and apolitical association from the Republic of Moldova, founded in September 2003 by the largest companies with foreign capital in the country, covering the whole range of industries — agriculture, automotive and petroleum industry, telecommunications and IT, healthcare and pharmaceuticals, winemaking, distribution, insurance, banking, consultancy and audit.