Moldovan PM, U.S. investors, companies discuss potential projects in Moldova

The Government of the Republic of Moldova

Attracting U.S. investments, capital and technologies to Moldova, developing energy projects and using artificial intelligence to improve the efficiency of public administration have been the main topics discussed by Prime Minister Vasile Tofan at meetings with representatives of companies, investment funds and financial institutions from the United States.

During the discussions, the PM presented areas of the Moldovan economy that could offer opportunities to international investors and emphasized the goal of attracting greater volumes of long-term capital. “Moldova needs more investments and more long-term capital. Our message is simple: Moldova is open for business. We want to turn investors’ interest into invested capital, growing companies and concrete projects implemented in the country,” said Prime Minister Vasile Tofan.

During the meeting with George Siguler, Executive Chairman and co-founder of Siguler Guff, the dialogue focused on investment opportunities created by the European Union accession process. Siguler Guff is a global private-market investment management firm that manages approximately 19 billion dollars in assets and has been investing in emerging markets, including Eastern Europe, for more than three decades.

Another discussion focused on the use of artificial intelligence to modernize public administration. Together with Nick Tzitzon, Vice President of ServiceNow and head of the company’s Artificial Intelligence Institute, the prime minister discussed using AI to provide simpler public services and faster, more transparent and easier-to-verify decision-making processes. Vasile Tofan invited company’s representatives to Moldova to identify two or three concrete pilot projects.

The potential for new projects in the energy sector was examined during discussions with representatives of the Washington Energy Council. The talks addressed how energy projects of Moldova could be transformed into bankable projects, by identifying suitable technologies and suppliers, as well as regulatory and financing solutions.

The economic agenda of the visit also included a meeting with representatives of the business community and companies associated with the Atlantic Council, including Bank of America, CCN, DFC, Electrica, E-INFRA, GlobalVision, KVG, Marsh, S&P Global, Visa and Widelity. Prime Minister Vasile Tofan presented the government’s economic priorities and the opportunities which Moldova provides to investors. The discussions also focused on measures the government can take to reduce investment barriers, eliminate unnecessary bureaucracy and create simpler and more predictable conditions for companies seeking to invest and expand their businesses in the country.

A discussion on turning investment opportunities into concrete projects was held with John Jovanovic, Chairman of the Board of Directors of the United States Export-Import Bank (EXIM). The sides analyzed ways to attract more U.S. companies, capital and technologies to Moldova, as well as existing opportunities in energy, infrastructure and other strategic sectors.

“U.S. investment can play an important role in the next stage of Moldova’s growth. Moldova offers access to the European market, a competitive economy and a government determined to make investments simpler and more predictable. We will continue working to connect opportunities in Moldova with the American business community and capital,” said Prime Minister Vasile Tofan.

The meetings took place in the context of Prime Minister Vasile Tofan’s participation in the 81st session of the United Nations General Assembly, held in New York.