VIDEO // Prime Minister about privatization of Zarea Hotel: Our goal - to generate as much money as possible for state budget, while also making good use of important property in central Chișinău

Zarea Hotel in central Chișinău has been put up for privatization, with the auction scheduled for October 20. Prime Minister Vasile Tofan assured that the privatization process would be extremely transparent and urged investors to submit their bids. The official emphasized that the authorities’ goal is to make good use of an important property in central Chișinău, while also generating revenue for the state budget.

The prime minister said that Zarea Hotel has far greater potential than is currently being realized.


“We are at Zarea Hotel, a hotel in the heart of Chișinău that has been put up for privatization, with the auction scheduled for October 20. It is located in the historic center, just a few steps from ASEM, next to Cathedral Park and the National Bank: 31 ares, 12 floors, and more than 6,000 square meters of space. It is a hotel with far greater potential than is currently being realized. We are looking for investors who want to take part in a transparent auction for this truly unique asset,” the official said.


Vasile Tofan acknowledged that privatizations do not have a good reputation in Moldova, given that, in his words, “too many privatizations were carried out fraudulently.” However, the authorities aim to change this and ensure an extremely transparent privatization process, the prime minister said.


“Privatizations do not have a good reputation in Moldova and, probably, for good reason. Too many privatizations were carried out fraudulently. We intend to change this, and we want to do so in the most transparent manner possible: to show this asset to the entire world and attract as many bidders as possible to the auction, so that the price is as advantageous as possible for the state. But perhaps even more important than the revenue for the state budget is realizing the true potential of this asset: creating new jobs, boosting the economy, and beautifying the center of Chișinău with a more attractive building,” he emphasized.


The prime minister noted that the goal pursued through the privatization process is to generate revenue for the state budget while also making good use of an important property in central Chișinău.


“Dear Moldovans, dear entrepreneurs, I want to assure you of one thing: this will be an extremely transparent process. I want you to be confident in the integrity of this process and in our intention to give all investors and entrepreneurs the opportunity to submit bids for this asset. Our goal is to generate as much money as possible for the state budget, while also making good use of an important property in central Chișinău,” Vasile Tofan said.


Entrepreneurs’ bids in the privatization process for Zarea Hotel may be submitted to the Public Property Agency. All information is available on the website dedicated to presenting this asset: www.zarea.app.gov.md

At the same time, the authorities have announced a competition for young architects and creative professionals, who are invited to submit, by October 4, concepts for what a new Zarea Hotel could look like. Submissions may be sent to zarea@app.gov.md.