Residents of free economic zones to be backed by state in Moldova

Chisinau, 18 July /MOLDPRES/ - Measures of support for the residents of the free economic zones will be established in Moldova. The parliament today voted a draft on the amendment of normative acts in the first reading.    

The draft law keeps the state assistance in form of exemptions at the income tax for a period of ten years at the most, but without exceeding the date of 1 January 2034. In accordance with the EU’s acquis, the concerned fiscal facilities will be conditioned by the volume of investments made and the threshold of intensity of the state assistance. Subsequently, the government is to approve the scheme of state assistance and a mechanism of governance.  

Also, the draft law contains amendments to the Fiscal Code, through which decision-makers establish a new scheme of regional state assistance for the investments from the processing industry. The scheme is fully aligned with the EU norms in terms of competition and state assistance and is to stimulate investors’ interest in becoming residents in these zones, thus attracting investments and creating jobs.     

Under the Moldova-European Union Association Agreement, the scheme of state assistance in the free economic zones must be adjusted to the EU’s acquis to 1 September 2024. According to statistics data, in late 2023, six free economic zones were working in Moldova, with an overall number of 258 residents and about 16,000 employed residents.