Moldova's 373: Jobs boom as businesses embrace investment program
Over 160 entrepreneurs have tapped into Moldova's "373" program, securing investments that fuel job creation and boost employee salaries, the Ministry of Economic Development and Digitalization reports.
Launched in June 2023, the program offers competitive loan rates and guarantees, aiming to empower small and medium enterprises (SMEs) to expand and contribute to economic growth.
"Beneficiary entrepreneurs have seen their workforce grow by over 20% thanks to 373," boasts Dumitru Alaiba, the Minister. "Over 650 million lei in investments have flowed through the program, fostering stronger businesses and ultimately, a higher standard of living for Moldovans."
The program features attractive interest rates of 3% for foreign currency loans and 7% for lei loans, along with investment loan terms spanning up to 7 years, including a potential grace period of 3 years. Additionally, SMEs can access loan guarantees of up to 40% through the Credit Guarantee Fund.
Entrepreneurs are vocal in their praise. "373 has been a game-changer for us," says Ion Popescu, owner of a Chisinau manufacturing company. "The program enabled us to upgrade equipment and recruit additional staff."
With over 32,000 jobs already created through the program, 373 emerges as a key driver of economic activity and job opportunities in Moldova. Its future impact on SME growth and overall economic development remains a point of keen interest.
Translation by Iurie Tataru
