Annual Report 2010 - AmCham Moldova

Membership Benefits & ServicesA n n u a lR e p o r t2 0 1 0AmCham Study“American investments in Moldova”In the period September – November 2010, based on public information and correspondencewith state authorities (i.e. National Bureau of Statistics and National Bank of Moldova),AmCham performed a specific study aimed at identifying the share of Americandirect investments in Moldovan economy (as of 01.01.2010).The presentation was performed for internal purposes and served to understand whyofficial statistical data allotted American investments in Moldova only 3.5%.Based on the estimations, it was concluded that U.S. investments not always come directly,but from other jurisdictions as well (mainly from neighboring European countries).If we also take into consideration investments from European countries, then the share ofAmerican capital in Moldova could be estimated at 8,25%.There could be several reasons for this particularity (specifically the share of 3,5% vs.8,5%). One of the valid reasons could be the fact that currently there is no operational Conventionon avoidance of double taxation between Republic of Moldova and USA. For thatreason Tax & Legal Committee has initiated a series of measures in its cooperation with theMinistry of Finance.Products of MoldovaThe project “Products of Moldova “was launched in February 2010 and was aimed toincrease exports of Moldovan products by targeting the diasporas of Eastern Europeansliving in the United States, Canada and Western Europe who are already aware of the qualityof Moldovan products. The main objectives consists in:• Raise awareness about Moldova• Promote Moldovan companies & its products abroad• Establish direct contact between Moldovan companies & potential customers, distributors• Reduce companies costs on promoting• Increase sales• Diversify export markets for Moldovan companiesAmCham Moldova has developed a catalogue of products produced in Moldova for exportthat includes product descriptions, pricing and companies’ information. We are proudto announce that the number of participants was increased till around 50 companies eagerto promote their products abroad. These are specialized in the fields of economy specificto Moldova, such as: agricultural foods, wine products, soft drinks, cosmetics, textile industry,producers of carpets and toys. The participating companies are export oriented, havequality certificates according to the legislation in force.The same time, an electronic version was created: www.producstofmoldova.md. Thesite’s visitors have the possibility to resort to a large variety of simple instruments easy touse, having more browsing options: company’s name, field of activity, categories of offeredproducts, trademarks and the list of products. The website allow the potential clients toobtain updated information about the products and services of the Moldovan companies.During this year we`ve got many feedbacks from European and American citizens. Onething is sure Moldovan products has great potential and needs promotion, and in thisregard AmCham Moldova will continue this effort, thus contributing to raise awarenessabout Moldova abroad.A publication of the American Chamber of Commerce in Moldova33