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Home / Bioethanol / News Moldova's Q1'07 Net FDI Jumps 10-fold Y/Y to $70.4 MlnSeeNews CHISINAU (Moldova), July 12 (SeeNews) — The net inflow of foreign direct investments (FDI) in Moldova in the first quarter of this year jumped ten times on the year to $70.4 million (51.1 million), the government's export promotion organisation, MIEPO, said on Thursday. The fact that Moldova borders the European Union from 2007 makes it more attractive for investors, MIEPO said. Some investments are redirected from neighbouring Romania after it joined the EU in 2007, it added, explaining the growth. The Netherlands and Russia were the biggest foreign investors in the first quarter with a 22% and a 12% share of the total, respectively, MIEPO said in a statement. Dutch company EasEur Holding completed the construction of the first oil terminal in Moldova following a $27 million investment. It plans to build a cargo and passenger port on the Danube river, where the oil terminal is located, and to open six filling stations in Moldova. EasEur also plans to build a biofuel plant, which will produce bioethanol from corn and wheat. In January, French banking group Societe Generale bought 70.57% in Moldova's fifth-largest bank by assets, Mobiasbanca, for 18.4 million euro ($25.4 million). Moldova forecast earlier this year that FDI would rise by an average 10% each year until 2015. The share of FDI in the country's Gross Domestic Product (GDP) will vary from 25% to 30% in the next 10 years. The share of FDI in Moldova's GDP was 8.9% last year. ($=0.7254 euro) Source: (KB/DP/KB)
Date: 12.07.2007 Leave your comment
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