40M lei grants for 66 Moldovan firms to create hundreds of jobs
Sixty-six companies from the Republic of Moldova received grants totaling approximately 40 million lei. This financial support is expected to stimulate investments exceeding 64 million lei in the national economy.
The funds are provided through several grant programs managed by the Organization for Entrepreneurship Development (ODA), in collaboration with the Ministry of Economic Development and Digitalization. These funds will be used to purchase modern equipment and streamline production processes.
Currently, these companies employ approximately 850 people, and thanks to the grants, at least 400 additional jobs will be created.
One of the beneficiaries is Alexandru Cernoutan, who started a wooden packaging production business in 2009. Over the years, he has accessed several support programs, and he will now receive a grant of over 700 thousand lei to expand his production and increase exports to foreign markets.
"We bought the equipment to facilitate our entry into the foreign market. We plan to use this equipment to produce more pallets and export them to Romania. Our market share in the Republic of Moldova varies between 30 and 35% of the pallet market, and we aim to export up to 30% of our sales. I would like to build a factory here in Moldova, similar to what is available in Romania. That is why I hope Moldova will join the European Union, opening up access to European grants and funds, allowing us to establish real production here at home," Alexandru Cernoutan stated in an interview with Radio Moldova.
Other grant beneficiaries also expressed their intent to use the funds to develop their businesses and enhance their competitiveness in foreign markets.
"We are a fashion company from the Republic of Moldova with existing exports. We accessed the Competitiveness and Value Chains Program to strengthen our position in the countries where we already export."
"We will allocate the funds to develop our website and enhance our brand. We manufacture urban furniture, such as waiting stations and swings."
"We export most of our products to the European market and now wish to expand our reach. We produce food products and disposable tableware."
Grants totaling 233 Million lei since the beginning of the year
With this support, companies become more competitive, employees receive better salaries, and communities benefit from more robust economic opportunities, as pointed out by Vadim Codreanu, Director of the Organization for Entrepreneurship Development.
"We have 66 beneficiaries with whom we have digitally signed contracts to begin investing. Most of these beneficiaries are part of the program aimed at increasing competitiveness and integrating into value chains. I would like to thank the World Bank for its financial and technical support," Codreanu said.
The Republic of Moldova needs strong businesses and individuals willing to invest at home. Through the grants offered, the authorities aim to send a clear message to entrepreneurs: they are not alone, said Deputy Prime Minister Doina Nistor, Minister of Economic Development and Digitalization.
"The government understands that now, more than ever, we need to support entrepreneurs. For this reason, we have doubled the ODA budget this year. We have already financed over 577 companies and will continue to build on ODA programs. We have allocated more funds for grant programs and guarantee programs, enabling access to loans and securing guarantees for those without enough collateral," Deputy Prime Minister Doina Nistor conveyed to the grant beneficiaries.
Since the beginning of this year, 537 companies have benefited from grants totaling 233 million lei, support that has generated investments of approximately half a billion lei in the economy of the Republic of Moldova.
