Economic

Expert: The Republic of Moldova must showcase its competitive advantages at Davos to attract investment

The World Economic Forum in Davos focuses on several key topics, including artificial intelligence, green technologies, and economic development. Mihaela Sirițanu, a political economy expert, emphasized in an interview with Moldova 1 that the Republic of Moldova should leverage its competitive advantages in these three crucial areas.

The Davos conference serves as a crucial platform for fostering diplomatic relations as well as for international financial institutions, banks, and investors.

“First of all, the IT industry continues to grow. Since 2015, it has tripled in size and now accounts for 8% of our GDP. We are the second country in Europe, after Estonia, with the highest number of IT workers per capita. This expanding industry offers us the opportunity to attract as many foreign investors and companies as possible. Regarding green technologies, we are focusing on solar panels and wind energy. Our competitive advantages include significantly lower production costs compared to the EU, as well as reduced expenses for human capital and transportation. Geographically, we are located very close to the EU, making it more advantageous for companies to produce here rather than in Asian countries.”

The expert asserts that joining the EU and achieving energy independence will provide stability to the business environment.

“The most important factor is predictability for any company looking to do business, especially in light of price volatility and security concerns. We cannot be certain whether we will find ourselves in a war or not. Political instability does not help, and we are uncertain about the outcomes of upcoming parliamentary elections. Russian interference is evident not only in Ukraine and the Republic of Moldova but also within the EU. For instance, in Romania’s presidential elections, declassified documents from the Supreme Security Council revealed that such interference is proven and is being monitored.”

We remind you that Prime Minister Dorin Recean is currently participating in the World Economic Forum in Davos. He reported that attacks from the Russian Federation during the 2024 electoral period, including propaganda and disinformation, boosted, and false narratives have been widely disseminated to undermine the electoral and democratic processes in the Republic of Moldova. The Prime Minister emphasized that the Republic of Moldova has been targeted by unprecedented electoral fraud, characterized by corruption and vote buying orchestrated by criminal groups.

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