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The first 39 companies from the Republic of Moldova will receive financing for the internationalization of their business

The first 39 companies from the Republic of Moldova will receive financing for the internationalization of their business

 

ODIMM supports domestic companies in entering new markets. Thus, the first 39 companies have signed today non-reimbursable financing contracts with the Organization for the Development of Small and Medium Enterprise Sector through the Business Support Programme designed for enterprises with high growth potential and for their internationalization. They will benefit from financial support in the form of Business vouchers of up to 100 thousand lei for acquiring business development services in order to expand on the foreign markets. The signing of contracts has been accomplished through electronic signature within an online event.

Iuliana Drăgălin, the State Secretary of the Ministry of Economy  and Infrastructure (MEI), who attended the event, mentioned that the state will continue to support initiatives on attracting investments and stimulating exports.

“It is a significant step towards accessing a diversified and competitive foreign market, potential business development partners and the opportunity to benefit from foreign investment needed to urge business growth, attract skilled labor force, efficient logistics and other advantages for business expanding ”.

Iulia Costin, the CEO of ODIMM, congratulated the entrepreneurs who had courage and perseverance to come up with new approaches in order to internationalize the business.

“I congratulate you on the chance to be among the winners of the first call for investment projects. We are glad that there is an increased interest of the business environment from the Republic of Moldova for the promotion of products and services on foreign markets, the identification of new business partnerships and integration in value chains. The support provided by this programme will help companies adopt international standards, implement new technologies and position themselves on a new stage of development ”.

The amount of non-reimbursable financing offered by the state to the 39 businesses in the form of Business Vouchers will account for about 3 million lei. The entrepreneurs' own contribution is about 1.5 million lei.

Accessing the business development services requested by companies aims at: creating the brandbook and visibility elements; developing work process optimization systems; evaluating the company in order to reach national and international standards; accessing training and employee development courses; consultancy and assistance on the registration of intellectual property objects and the elaboration of strategic plans for developing and expanding on the new markets.

Of the total number of assisted companies, 17 operate in industrial sector (manufacture wet wipes, metal and wooden construction products, garments, perfumes and cosmetics, micro-fibers from precious metals, process wood, produce furniture and upholstered items). At the same time, 15 companies provide services, such as promoting media and printing, including graphic design, public catering, entertainment and tourism, designing and laying electrical cables, consulting and information technology. Other 7 companies operate in agricultural and food sector (grow and sell nuts, fruits and vegetables, produce bee products).

At the same time, 28 companies have experience in exporting goods (EU, Canada, United States, Malaysia, Hong Kong, Singapore, Israel, China, Andorra) and intend to expand their activity on new markets, and 11 companies are in the beginning stage of internationalizing their business.

The programme for supporting businesses with high growth potential and their internationalization was approved by Government Decision no. 439 of July 1, 2020. The goal of the Programme is to contribute to sustainable economic growth by attracting investments, increasing the competitiveness and productivity of SMEs in the Republic of Moldova, as well as to help companies expand internationally. Within this programme, SMEs will benefit from consultative and informational support, financial assistance in the form of "Business Voucher" of up to 100,000 lei and "Grants" of up to 2 million lei. SMEs from the Republic of Moldova that have been active on the market for at least 2 years, demonstrate a continuous growth and are going to expand on new markets or to substitute the imports of goods or services by exports are eligible for this Programme.

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