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Moldova: Tax-Free Status Planned To Lure Investors

Kyiv, 9 May 1998 (RFE/RL - Moldovan Economics Minister Ion Gutu said today that his government plans to grant "free economic zone" status to ten industrial park sites in the country.

Gutu made the comment in a bid to attract foreign investment from delegates to the European Bank for Reconstruction and Development's annual board meeting, which opened today in Kyiv.

He told potential investors that the free economic zone status would mean tax exemptions for between five and ten years, depending on the site. He said the most privileged sites would enjoy "across the board" exemptions from taxes and customs duties.

Gutu said the adoption of individual laws for each industrial park would make the sites particularly attractive to foreign investors by offering them a "guarantee."