BLOMSTEIN and CELIS have successfully advised AmCham Moldova in improving the national Moldovan FDI law and align it with best practises in EU member states
Over the last three months, BLOMSTEIN has assisted the American Chamber of Commerce in Moldova (AmCham) to improve the Moldovan screening mechanism for Foreign Direct Investments (FDI). This was achieved in close cooperation with the CELIS Institute, in particular its Executive Director Prof Dr Steffen Hindelang. AmCham was on its side supported by the Center for International Private Enterprise (CIPE). The team’s main aim was to improve the already existing provisions, render them more effective and align them with EU requirements as well as best practises in EU member states.
In recent years, Moldova has implemented two legal acts concerning the screening of foreign direct investments. The Law no 174 of 11 November 2021 introduced a mechanism to appraise investments into sectors important for the security of the state. Furthermore, Government Decision no 585 of 12 May 2016 established a Council to promote investment projects of national importance. However, first experiences with the FDI system had shown unveiled insufficiencies and its partial ineffectiveness. In consequence, the AmCham – a Moldovan non-governmental and non-profit organization to advocate policymakers, foreign, and local investors – is supporting the revision of the FDI screening system.
BLOMSTEIN and CELIS assisted in this endeavour . We have identified the critical issues of each provision in both legal acts and categorized the risks according to their importance. Based on this, BLOMSTEIN and CELIS suggested possible improvements to AmCham Moldova in order to help the Moldovan legislator to further integrate its FDI mechanism into the framework of FDI law in the EU and its member states.