The first investment signs

The law "On State Support of Investment Activities" came into force on 1 June. The document was the result of a long-term joint work of the Government and deputies of the Supreme Council. It provides a mechanism for granting maximum tax preferences and legal guarantees to investors, both external and internal. Unprecedented benefits provided for 5-10 years (depending on the amount of investment) are designed to contribute to the economic development of Pridnestrovie.

There are the first investment signs - the government of the republic signed an agreement with the company "Top Gio Serv" LLC. The decision on this was taken the day before in the course of the meeting of the investment council, attended by parliamentarians Mikhail Burla and Victor Guzun.

The company "Top Gio Serv" was established in Pridnestrovie in April of this year by foreign founders on the basis of the Bendery car assembly plant. After signing the contract, it will become the first economic agent that will be able to take advantage of the unprecedented tax preferences granted by the law "On State Support of Investment Activities".

The enterprise produces various metal structures for the construction industry. The exported products are export oriented, the raw materials for the production will be supplied by the Moldavian Metallurgical Plant. 40 people work at the enterprise now, by the end of the year the number of jobs is planned to increase to 100. The total number of employees, according to the investment project, in the next seven years should be 200 people.

This year, investors plan to invest in production of more than 500 thousand euros, and until 2025 - another 400 thousand euros. In turn, "Top Gio Serv" LLC for seven years will be exempt from taxes on income, land and dividends of shareholders. The single social tax rate will be reduced from 25% to 14%.

An Austrian company, which produces special materials for the metallurgical industry, also announced its intention to conclude another investment agreement.