A recent survey conducted by the Secretariat of the Economic Council on the BizRadar platform highlighted a major issue faced by entrepreneurs in the Republic of Moldova: excessive bureaucracy. Entrepreneurs consider simplifying bureaucracy and excessive regulations a crucial measure to support the development of the business environment.

Reducing these impediments would allow companies to focus on development and expansion, optimizing resources and efforts. In this regard, the Secretariat of the Economic Council supports the Ministry of Economic Development and Digitization in developing the maps of obligations and processes established by the regulatory framework for various economic sectors. These maps simulate a company’s journey throughout its lifecycle, identifying opportunities for optimizing economic activities. A promising aspect is that almost 62% of entrepreneurs declare themselves “optimistic” about their business’s future, suggesting potential economic growth.

Although almost 67% of respondents consider the authorities’ efforts to support entrepreneurship satisfactory, simplifying bureaucracy and excessive regulations remains an urgent necessity to boost the country’s competitiveness and economic development. This is all the more important given that 61% of those surveyed consider it “bearable” to do business in the Republic of Moldova, while 33.33% declared it “difficult.”

The challenges encountered in starting businesses are significant: nearly 56% of entrepreneurs face difficulties in hiring qualified staff, and 50% have highlighted the tax burden as a major obstacle. Additionally, approximately 45% of respondents rated the ease of obtaining financing as “moderate,” while almost 39% found this difficult. It should be noted that, through the BizRadar application, the Secretariat of the Economic Council identifies the problems faced by the business environment and the priority solutions for drafting deregulation packages and improving the business environment.

The ultimate goal is to propel the Republic of Moldova to the top of the countries with the best business environment in the region. To achieve this objective, the Secretariat of the Economic Council will draft and promote packages of regulatory changes for deregulation and debureaucratization, significantly improving the conduct of business activities.

We encourage the business environment to actively participate in future opinion surveys on BizRadar, thus contributing to a more prosperous and competitive business environment.

The Secretariat of the Economic Council to the Prime Minister is supported by the European Bank for Reconstruction and Development, funded by the UK Government’s Good Governance Fund.