Maib featured at Moldova - Romania: Capital Bridges forum
Maib featured at Moldova-Romania: Capital Bridges forum in Bucharest
On 13 September maib took part in the Moldova - Romania: Capital Bridges forum in Bucharest. This event was organised by maib in partnership with the Bucharest Stock Exchange, WOOD&Co. and Raiffeisen Bank International. The forum aimed at Romanian and international investors and businesses to highlight the opportunities presented by the robust Moldovan economy, improved business climate, and newly acquired EU Candidate status. Event's keynote speakers included the Prime Minister of Romania Nicolae Ciuca who warmly welcomed his counterpart the Prime Minister of Moldova Natalia Gavrilita. The President of EBRD Odile Renaud-Basso addressed the audience speaking about the strong drive for reforms in Moldova and also underscoring maib's commitment to the highest standards of corporate governance. ASF's (Romanian securities regulator) President Nicu Marcu welcomed Moldovan companies onto the Romanian financial market and underscored the importance of maib's listing on Bucharest Stock Exchange to the benefit of both countries. Radu Hanga, the Chairman of Bucharest Stock Exchange also stressed the significance of maib's listing, which would act as gateway for Moldova's companies accessing Romanian and international capital markets.
After the keynote addresses the Prime Minister of Moldova Natalia Gavrilita took part in the Fireside Chat discussion, where she spoke about the long-term view for Moldova, the extensive reform agenda, and the short-term challenges faced by the country, such as cost of living and energy security. The EU accession and the implementation of EU Commission recommendations in the area of judicial reform and strengthening the rule of law were central to the discussion.
Moldova – Newest EU Candidate Country were discussed by Janis Mazeiks, EU Ambassador to Moldova, Dumitru Alaiba, Head of Parliamentary Committee on Budget, Economy and Finance, Moldova, Vytautas Plunksnis, Head of Private Equity, Invalda INVL,. The participants highlighted some common themes such as:
- EU Candidacy status as the proudest moment in the nation's history,
- EU Commission’s requirements including strengthening the rule of law and reforming the judiciary,
- improved investment climate, increased predictability,
- reform agenda going forward covering multiple areas.
Economic Challenges of Today: Uncertainty and Opportunities for Moldovan Economy, in which Angela Sax, EBRD Head of Moldova Office, Iurie Turcanu, Deputy PM on Digitalisation, Moldova, Alberto Carlei, Head of EIB Moldova Office and Vasile Tofan, Senior Partner, Horizon Capital, spoke about the Moldovan economy, the impact of the war in Ukraine, the outlook, the reforms and the EU contribution and projects going forward. Some of the key themes highlighted included:
- stable and well management currency, prudent monetary policy,
- low public sector debt, strong GDP growth of recent years,
- growth of some new economic sectors,
- good fiscal discipline, EU willingness to support Moldova.
Doing Business in Moldova: Participants’ View panel, where Giorgi Shagidze, CEO maib, Bogdan Plesuvescu, CEO Victoriabank, Eugen Comendant, COO of Purcari, and Bogdan Spuza, CEO of OTP Moldova, were joined by Bayan Carter, Associate Director, EBRD, to discuss the challenges they face in Moldova, the improving business environment, and the opportunities they see for their businesses going forward.
The event, which took place at JW Marriott hotel in Bucharest was well attended by Romanian, Moldovan and international political dignitaries and public officials, Romanian and international investors, leaders of top Romanian companies and business professionals, and widely covered in the press, both in Romania and abroad.
Nicolae Ionel Ciucă, Prime Minister of Romania, stated:
“The Moldova-Romania Capital Bridges forum, where I participated together with the Prime Minister Natalia Gavrilita, was a good opportunity to reiterate Romania's active support for the fulfillment of Republic of Moldova's dream: integration into the European family. In the current geopolitical and economic context, full of challenges for the economies of Romania and Republic of Moldova, we strengthen the bridges that unite us in order to value the opportunities of the two economies. The development of commercial relations and the promotion of investments are essential for the consolidation of the Strategic Partnership and for our mission that will end when we will be able to enjoy together the benefits of EU membership.“
Natalia Gavrilița, Prime Minister of Moldova, said:
“Today’s event is about building bridges – between my country and foreign investors, between the companies in Moldova and the ones from abroad, or between the companies in Moldova, the Romanian capital market, and the ones in Europe. Nevertheless, the most important bridge we have succeeded to build until now is our new level of relationship with the European Union after obtaining the EU candidate country status. The European integration would be the compass that would help us meet the expectations of our citizens and companies that are doing business in our country. We need a more active capital market, we need investments, and our examples come from the Romanian capital market - which has become a gateway to financing for Moldovan businesses, and the Bucharest Stock Exchange - which has clearly proven its potential to be a regional hub, including for Moldovan companies looking for growth capital“
Giorgi Shagidze, maib CEO, said:
“I would like to thank the Bucharest Stock Exchange, WOOD&Co, Raiffeisen Bank International and all our partners for their support in making this important event a reality. It is of a paramount significance for the capital market of both Moldova and Romania. As well, I want to thank the speakers and all the participants for the interest shown in Moldova as an investment destination and the opportunities for us by the newly granted EU candidacy status. It is an honor for maib, the largest bank in Moldova, to contribute to the support of the country and the banking sector, to attract investors interested in Moldovan business development, supporting the sustainable and continuous growth of the country's economy. ”
- Prime Minister of Romania Nicolae Ciuca
- Prime Minister of Moldova Natalia Gavrilita
- President of EBRD Odile Renaud-Basso
- President of ASF Nacu Marcu
- Chairman of Bucharest Stock Exchange Radu Hanga
Fireside Chat with Prime Minister of Moldova Natalia Gavrilita
Panel 1 Moldova - EU Newest Candidate Country
Panel 2 Economic Challenges of Today: Uncertainty and Opportunities for Moldovan Economy
Panel 3 Doing Business in Moldova: Participants’ View
Maib is the largest bank in Moldova, with a share of 32.7% of deposits and 35.5% of loans of the entire banking system at the end of first half of 2022. The bank is of systemic importance and serves almost a third of the country's population. Since 2018, maib's largest shareholder is a consortium, which includes the European Bank for Reconstruction and Development (EBRD), Invalda INVL, a leading asset management group in the Baltic States and Horizon Capital, a private investment fund focused on emerging markets from Europe.
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