Press releases

The Ministry of Economy supported in 2022, through entrepreneurial support programmes in the management of the Organisation for the Development of Entrepreneurship (ODA), 1375 companies operating in small- and medium-sized enterprises, allocating around 720 lei million in the form of grants, financial guarantees, subsidies for participation in exhibitions and support infrastructure. The results of the policies and support instruments implemented in 2022 and the plans for 2023 were presented to the public at a press conference by the Minister of Economy. Dumitru Alaiba and Director ODA, Dumitru Pintea.

Minister Alaiba stressed that: “Further we will support entrepreneurs to develop their businesses and build on their ideas. This will create new jobs and contribute to the country’s development. To help the business environment, the Ministry of Economy has initiated a number of regulatory changes to reduce bureaucratic barriers and reduce administrative burdens. The lack of bureaucracy encourages business representatives by making it legally active and progressing. In 2023 we will continue with a momentum of reforms to support Small and Medium-sized Enterprises and focus on the segment of attracting investment in our country.”

Furthermore, the Minister of Economy thanked the external partners to support institutional capacity building ODA and support in the implementation of the strategic plans for the development of the SME sector in the Republic of Moldova.

Dumitru Pinianthe Director of ODA reiterated the commitment made by the institution to develop a strong partnership and an effective dialogue with Moldovan entrepreneurial environment.

“Creating opportunities for launching and developing a business is our main mission. In 2022, the institution’s activity was carried out in terms of strengthening internal governance, digitalisation of labour processes, improving the mechanisms for the application and assessment of SME applications. The challenges of entrepreneurs were analysed and offered more opportunities by optimising the existing programmes and launching 4 new programmes to support local companies at all stages of activity”.

Thus, in 2022, 1375 enterprises have been supported by various forms of support. Of these 541 companies’ total non-repayable funding amounted to approximately Lei 162 million, which maintained or created some 3300 jobs. For 469 businesses have been provided with financial guarantees in the amount of Lei 554 millionwhich supported loans of about Lei 1 billion. At the same time, for other 86 business was partially reimbursed for participation in exhibitions; and 279 companies benefited from the support infrastructure included in the 11 Business Incubators.

At the same time, ODA representatives were in all regions of the country and were organised 130 information sessions to promote entrepreneurial support mechanisms, above 9 000 thousand people were consulted individually, and 2400 entrepreneurs have been trained free of charge in developing entrepreneurial skills.

In order to ensure the sustainability of the SME sector and its adaptation to the new market rules and requirements, 4 new instruments were launched in 2022: The Youth Start programme (grants up to lei 200 thousand), the Digital Transformation Programme (grants up to lei 500 thousand), the Programme for supporting Digital Innovations and Technology Startups (grants up to lei 500 thousand) and the Technology and Energy Efficiency Programme (grants up to lei 2 million).

According to Director ODA during year 2023With the support of the Government and external development partners, 4 new programmes are to be launched that will support women’s economic empowerment (Femors in Business), Small Business (small Producers), increased export capacities (Local suppliers) and the development of agri-pensions (Ruralism).

At the same time, access to finance for SMEs will be increased by launching the portfolio guarantee product and launching the Moldovan Entrepreneurship and Growth Fund (facem). This Fund will boost business with growth potential by offering low-interest-rate loans through financial institutions.

The Entrepreneurship Development Organisation (ODA) is a public institution founded by the Ministry of Economy to support small and medium-sized enterprises (SMEs) in the Republic of Moldova at all stages of business development with a view to making them more competitive, dynamic and sustainable. For more details on the programmes implemented, you can access the institution’s webpage — www.oda.md

Press conference you can follow Privesc.eu https://bit.ly/401Sub1