The Foreign Investors Association of the Republic of Moldova (FIA) celebrates its 20th anniversary. It was founded on 22 September 2003 and was the first non-profit and non-political association of companies with active foreign capital in the Republic of Moldova. The Association consists of 26 companies from 15 countries – the largest direct foreign investment enterprises in Moldova, employing more than 22,000 people. The total volume of their investments is more than 2 billion 300 million euros, which amounts more than 18% of the GDP of the Republic of Moldova. These are the most active enterprises contributing to the sustainable development of the Republic of Moldova and generating progress in all key sectors: agriculture, industry, winemaking, telecommunications and IT, petroleum industry, healthcare and pharmaceuticals, banks and insurance, distribution, consulting and audit, et al.
Since its establishment in 2003, the Foreign Investors Association has initiated a regular dialogue with the Government and other public authorities aimed to improve the investment climate in the country.
«We managed to create a unique format of experts’ interaction and communication with the authorities, which allowed us to gain their trust in a relatively short time and reach an understanding of the similarity of our goals. At the same time, we managed to expand the format of expert “brainstorming” on finding effective solutions, which is the basis of our association, and to make it a collaborative form of discussion together with employees of ministries and other authorities», – notes Dr. Alexander KOSS, Chairman of FIA, Speaker of the Board of Südzucker Moldova.
Starting from 2005, the Association publishes a White Book with proposals for improving the business environment in the Republic of Moldova. This document has a recommendatory character and describes a certain action plan to improve the investment climate in the country. More than 75% of the proposals from the previous edition of the White Book, presented by FIA in 2021, have been approved by the Government of the Republic of Moldova or are in the process of implementation. The new edition of the FIA White Book is scheduled for the end of October 2023.
Enterprises with direct foreign investment make a significant contribution to the economic and social development of the Republic of Moldova. According to research initiated by FIA, foreign companies although a relatively small number of enterprises, they demonstrate a double efficiency and produce a significant volume of high-quality products and services. At the same time, these enterprises often act as business models, promote advanced management and innovative technologies, high quality standards, invest in the development of local suppliers and play a systemic role in the national economy.
Foreign investors initially build their business in Moldova based on their Sustainable Development Strategies. Last year, FIA organized an international conference “Foreign Investors for Moldova’s Sustainable Development“. There were presented their strategies and practices of FIA member companies in implementing different areas of sustainable development: investments in economic and business infrastructure; support and development of local communities and local entrepreneurship, of social area and cultural diversity; investments in green energy and digital transformation, education and modern medicine; ensuring accessible jobs in the Republic of Moldova’s regions. Thanks to responsible business management and innovations, FIA member companies became market leaders and created real communities around them, stimulating the sustainable development of localities, regions and the Republic of Moldova as a whole.