Vienna Economic Forum – Chișinău Meeting 2025, organized by VEF and Invest Moldova Agency, Strategic Partner of VEF, took place on 19 May 2025 under the patronage of H.E. Dorin Recean, Prime Minister of the Republic of Moldova and Patron of Vienna Economic Forum, in the Government House, Piața Marii Adunări Naționale 1, Chișinău. High-ranking representatives of the regional, European, and global economy from more than 20 countries gathered under the Motto: Moldova in Focus. Continuing to Build Economic Bridges During Difficult Times.
I. Opening Session: Moldova in Focus – Continuing to Build Economic Bridges During Difficult Times
Amb. Dr. Elena Kirtcheva, Secretary General of Vienna Economic Forum opened the Session under the Motto “Moldova in Focus – Continuing to Build Economic Bridges During Difficult Times” by underlining the long-standing vision and dedication of VEF in promoting economic cooperation and regional cohesion in the VEF Region “from the Adriatic to the Black Sea”. She highlighted the importance of reinforcing economic cooperation with renewed determination amid current challenges and commended Moldova’s reform achievements, as one of the Founding Member Countries of Vienna Economic Forum. It was with the exclamation: “We at Vienna Economic Forum continue to firmly believe in the power of economic cooperation!”, that Amb. Dr. Kirtcheva welcomed the participants to the Vienna Economic Forum – Chișinău Meeting 2025.
Greeting words were delivered by Amb. Dr. Emil Brix, President of Vienna Economic Forum and Director of the Vienna School of International Studies – Diplomatische Akademie Wien. He drew attention to the vital role of regional cooperation in developing the European political and economic landscape, praising the Republic of Moldova for its stable, prosperous and developing economic environment. Amb. Dr. Brix commended Moldova’s democratic resilience and capacity for transformation, expressing the need for continued dialogue to promote economic cooperation and higher education in Moldova.
In his Welcoming Words, H.E. Dorin Recean, Prime Minister of the Republic of Moldova, Patron of Vienna Economic Forum, reaffirmed Moldova’s firm commitment to the European path. He highlighted the government’s ongoing efforts to modernize and invest in digital infrastructure and energy security. The creation of “IT-Parks” and investment in education has made Moldova a top destination for tech-based economic development. Prime Minister Recean also emphasized Moldova’s strategic location and its ambition to act as a reliable partner for European investors and institutions, underscoring the efforts made by the Moldovan financial authorities in making more sophisticated financial instruments available. Finally, H.E. Mr. Recean addressed the recent elections in Romania, viewing them as a step in the right direction and an opportunity to continue to build meaningful relations with regional and global partners.
I. Opening Session under the Motto “Moldova in Focus – Continuing to Build Economic Bridges During Difficult Times” featured an Impulse Statementby Mag. Peter Höfinger, Deputy General Manager and Deputy Chairman of the Managing Board of Vienna Insurance Group AG (VIG),Cooperation Partner of Vienna Economic Forum, a leading European insurance company and longstanding Cooperation Partner of Vienna Economic Forum. He discussed the importance of insurance as a stabilizing force in times of crisis and outlined how VIG supports regional resilience through long-term investments and public-private partnerships. Mag. Höfinger, who also served as Vice-President of VEF, reaffirmed the commitment to Moldova and the Black Sea region.
Ms. Mariana Rufa, Executive Director of the European Business Association (EBA) in Moldova, moderated the Vienna Economic Forum – Chișinău Meeting 2025. With extensive experience in private sector advocacy and EU integration processes, Ms. Rufa played a pivotal role throughout the day in guiding discussions and ensuring a productive dialogue among the panelists and speakers of the Vienna Economic Forum – Chișinău Meeting 2025.
To conclude the I. Opening Session, the President of Vienna Economic Forum, Ambassador Dr. Emil Brix, and the Secretary General of Vienna Economic Forum, Ambassador Dr. Elena Kirtcheva, had the honour of presenting the Vienna Economic Forum Plaque of Honor to H.E. Dorin Recean, Prime Minister of the Republic of Moldova and Patron of Vienna Economic Forum, in recognition of his valuable contribution to the excellent, longstanding, and future-oriented cooperation between Vienna Economic Forum and the VEF Member Country Republic of Moldova.
II. Session: The Economy of Moldova as Part of the European and Global Economy
Session II: The Economy of Moldova as Part of the European and Global Economy delved into Moldova’s evolving economic landscape, its integration with the EU single market, and its prospects for sustainable growth.
In her Impulse Statement, H.E. Dr. Doina Nistor, Deputy Prime Minister and Minister of Economic Development and Digitalization of Moldova, reaffirmed the Moldovan government’s commitment to structural reforms, innovation, and integration into European economic networks. She detailed recent progress in simplifying regulatory frameworks and attracting strategic investments, particularly in green and digital sectors, and emphasized the ambition to digitalize 75% of public services by 2027 as a cornerstone of Moldova’s e-governance agenda.
Ms. Natalia Bejan, Director of the Invest Moldova Agency, Strategic Partner of VEF, offered a detailed overview of Moldova’s investment environment. She showcased key economic indicators, including the fact that 84% of Moldova’s 5.3 billion EUR FDI stock comes from EU27 countries, and that over two-thirds of Moldova’s exports are EU-bound. Ms. Bejan highlighted Moldova’s robust network of free trade agreements, giving investors access to over 870 million consumers globally. She also emphasized the country’s competitive sectors such as IT services, agrifood processing, automotive components, and renewable energy. The Moldova IT Park and favorable tax schemes were noted as vital drivers of innovation and entrepreneurship.
H.E. Mag. Stella Avallone, Ambassador of the Republic of Austria to the Republic of Moldova, lauded the bilateral cooperation between Austria and Moldova. She described Moldova’s status as an EU candidate country as a landmark achievement that merits continued international support and voiced optimism for future relations, highlighting progress and joint initiatives in the fields of education and economics as key drivers of deeper cooperation. H.E. Mag. Avallone played a pivotal role in providing this platform for multilateral talks between high-ranking representatives of the regional, European, and global economy in the Vienna Economic Forum – Chisinau Meeting 2025.
The panel discussion that followed the opening speeches brought together a distinguished group of experts representing pivotal sectors in Moldova’s economic landscape and the broader region. Their insights reflected not only their professional expertise but also the shared commitment to advancing Moldova’s development through regional cooperation, innovation, and sustainable growth.
Dr. Alexander Picker, CEO, BC Moldindconbank SA, Member of the Board of Vienna Economic Forum, opened the discussion with a thorough analysis of Moldova’s evolving banking sector. Drawing on the latest data from the International Monetary Fund, he projected that Moldova is well-positioned to surpass many of its regional peers in terms of GDP growth between 2025 and 2029. Dr. Picker highlighted Moldindconbank’s role as a pillar of financial stability and a catalyst for social and economic development in the country. With over 1 million clients, the bank has made significant contributions to the financing of small and medium-sized enterprises (SMEs), as well as providing consistent financial support to the government.
Following this, Mr. Maksym Boiko, Sales and Marketing Director at Canon CEE, Representative of the Member of the Board of Vienna Economic Forum, turned the spotlight on the digital transformation sweeping across the region. He underscored the transformative power of digital technologies in enhancing public administration and modernizing economic processes. Mr. Boiko elaborated on Canon’s strategic initiatives in Moldova, which include fostering digital skills, investing in innovation, and promoting responsible technology deployment.
Ms. Mila Nenova, Executive Director of the Invest Bulgaria Agency, brought a regional investment perspective to the discussion. She outlined successful examples of foreign direct investment (FDI) attraction in Bulgaria and stressed the importance of regional collaboration in strengthening investment promotion strategies.
Expanding on the theme of digital innovation, Dr. Olegas Niakšu, Digital Health Expert at AME International GmbH, Representative of a Member of the Board of Vienna Economic Forum, presented a compelling case for advancing e-health solutions in Moldova. He highlighted the potential of digital medical infrastructure to improve healthcare delivery, patient outcomes, and system-wide efficiency. His remarks emphasized the urgency of investing in interoperable digital systems, health data governance, and professional training to ensure that Moldova’s health sector can meet the needs of its population in the digital age.
Concluding the panel, Mr. Arvid Tuerkner, Managing Director for Ukraine and Moldova at the European Bank for Reconstruction and Development (EBRD), offered a broad overview of the Bank’s engagement in the country. He reaffirmed the EBRD’s long-standing support for Moldova’s private sector development, sustainable finance, and deeper integration into regional and global trade networks. Mr. Tuerkner also addressed the critical role of infrastructure modernization and climate resilience, stressing that the EBRD remains committed to supporting Moldova’s efforts in these areas through targeted investments and policy advice.
Together, the speakers painted a picture of a Moldova that is increasingly dynamic, connected, and resilient. Their diverse perspectives underscored the importance of strategic partnerships, forward-thinking policies, and cross-sector collaboration in shaping the country’s economic future.
III. Session: Developing Infrastructure Projects. Enhancing Energy Resilience
III. Session: Developing Infrastructure Projects. Enhancing Energy Resilience began with an Impulse Statement from H.E. Mr. Dorin Junghietu, Minister of Energy of the Republic of Moldova. He presented the country’s energy strategy, including efforts to reduce dependency on imports, promote renewables, and upgrade transmission infrastructure. He emphasized the need for cross-border energy cooperation and welcomed the involvement of international financial institutions and private investors. H.E. Mr. Junghietu stressed that the time to invest is now, highlighting Moldova’s openness, and its firm commitment to advancing the energy sector through concrete, timely action.
The second panel session of the Vienna Economic Forum – Chișinău Meeting 2025 focused on infrastructure, energy, and regional development, offering an in-depth look at the strategies and partnerships shaping Moldova’s path toward modernization and integration with European systems.
H.E. Mr. Mircea Pascaluța, Secretary of State at the Ministry of Infrastructure and Regional Development of the Republic of Moldova, opened the panel by presenting the country’s strategic infrastructure agenda. He outlined national priorities spanning transport, urban development, and logistics—sectors that are foundational for Moldova’s economic competitiveness and its deeper integration into regional and European value chains. From highway construction and rail modernization to smart city initiatives and logistics hubs, H.E. Mr. Pascaluța emphasized that Moldova’s infrastructure ambitions are closely aligned with its broader economic reform agenda.
Dr. Ion Petru Rușeț, Managing Director of Siemens Energy S.R.L. Romania, brought a regional industry perspective to the discussion. He shared Siemens’ experience in deploying innovative energy technologies across the region, including smart grid solutions, renewable power generation, and digital tools for energy efficiency. Dr. Rușeț highlighted Moldova’s notable strides in energy infrastructure development, particularly through projects like the Chișinău substation, and emphasized the country’s growing integration into the European energy network as a solid foundation for future investment and cooperation.
The European Investment Bank’s (EIB) continued support for Moldova was emphasized by Mr. Alberto Carlei, Head of the EIB Representation for Moldova. He detailed several high-impact infrastructure initiatives backed by the EIB, particularly in the areas of public transport modernization and energy efficiency. Mr. Carlei underscored the Bank’s strong commitment by noting the expansion of the EIB’s operational portfolio from €850 million to €1.5 billion. This increased support targets key sectors such as transport, agriculture, health, and the private sector, aiming to bolster Moldova’s development amid current challenges.
Mr. Denis Tumuruc, Senior Energy Expert at the Energy Community Secretariat, Vienna, commended Moldova for its tangible progress in enhancing energy resilience and reducing dependence on a single energy source. He emphasized the importance of step-by-step infrastructure development, highlighting projects such as the Iași-Ungheni-Chișinău gas pipeline and the Vulcănești power transmission line, as key to strengthening both cross-border connectivity and national energy security. Mr. Tumuruc also welcomed Moldova’s efforts to develop and implement the EU Electricity Integration Package, noting that such reforms not only support market integration and price convergence but also ensure that infrastructure investments deliver real benefits to end-users.
Dr. Nikolay Tsenkov, Manager of the Municipal Guarantee Fund of Sofia Municipality and Member of the Board of Vienna Economic Forum, emphasized the enduring impact of geography on regional cooperation and development. He argued that Eastern Europe’s growing strategic importance requires stronger economic partnerships, especially when political leadership falls short. Highlighting successful energy and infrastructure initiatives in Bulgaria, he urged Moldova to adopt a pragmatic approach to connectivity—including the integration of Transnistria into long-term planning. Dr. Tsenkov also stressed the need to balance investment in high-tech sectors with support for core industries, noting that flexibility now will be critical before EU regulatory frameworks apply.
On the topic of financial resilience, MMag. Paul Swoboda, Member of the Board of Management at Grazer Wechselseitige Versicherung AG (GRAWE), explored the importance of insurance and risk mitigation mechanisms in supporting large-scale infrastructure investments. He explained how tailored insurance products and public-private risk-sharing frameworks can de-risk projects and attract private sector financing, especially in emerging markets. MMag. Swoboda’s contribution underscored the need for robust financial instruments to underpin Moldova’s ambitious infrastructure pipeline.
Mr. Adam Grodzicki, Team Leader for Economic Development at the EU Delegation to Moldova, outlined the EU’s strategic support for Moldova’s development and EU integration. He emphasized that improving infrastructure, ensuring energy security, and advancing structural reforms are central to Moldova’s long-term stability and prosperity. Between 2021 and 2024, the EU mobilized over €2.2 billion to support priority sectors, including transport, energy, and public services. Looking ahead, he presented the €1.9 billion Moldova Reform and Growth Facility (2025–2027), which will fund investments and reforms aimed at unlocking growth, creating jobs, and accelerating EU accession. Mr. Grodzicki reaffirmed Moldova’s role as a key partner in the EU’s vision for a more connected and resilient Eastern Europe. Collectively, the speakers emphasized that infrastructure and energy development are not merely technical endeavours but central pillars of Moldova’s long-term transformation. Their discussions underscored the importance of strategic alignment, regulatory reform, inclusive financing, and international cooperation in shaping a resilient, connected, and forward-looking Moldova.
Special Award Ceremony of Vienna Economic Forum
Vienna Economic Forum – Chișinău Meeting 2025 was concluded with a distinguished Special Award Ceremony, honoring outstanding contributions to regional cooperation and economic diplomacy.
Vienna Economic Forum Plaque of Honor was presented to H.E. Mag. Stella Avallone, Ambassador Extraordinary and Plenipotentiary of the Republic of Austria to the Republic of Moldova, for her steadfast support and dedicated efforts in strengthening bilateral relations, facilitating high-level dialogue, and fostering economic partnerships within the framework of Vienna Economic Forum.
In recognition of her pivotal role in advancing Moldova’s visibility as an investment destination and for the Strategic Partnership with Vienna Economic Forum, Ms. Natalia Bejan, Director of Invest Moldova Agency, Strategic Partner of Vienna Economic Forum, was also awarded the Vienna Economic Forum Plaque of Honor. Her commitment to promoting Moldova’s economic potential and deepening cooperation with Vienna Economic Forum was duly acknowledged during the ceremony.
Finally, the ceremony featured the official presentation of the Memorandum of Understanding between Vienna Economic Forum and Moldova State University. The signed MoU was presented by Prof. Univ. Dr. Igor Șarov, Rector of Moldova State University. Vienna Economic Forum expressed its sincere thanks to Dr. Vladimir Dolghi, Vice-Rector for Financial and Economic Activity and International Relations of Moldova State University, Strategic Partner of Vienna Economic Forum, for his contribution to this important institutional milestone.
Vienna Economic Forum – Chișinău Meeting 2025 succeeded in reaffirming the critical importance of regional solidarity and economic integration in times of volatility and uncertainty. Highlighting Moldova’s determined progress on its European path and its increasingly central role as a connector between East and West, it is clear, that Moldova is a promising investment destination. One of the defining messages across all sessions was the recognition that Moldova is “open for business” – not just in terms of economic openness, but in its commitment to transparency, reform, and long-term cooperation. As the Secretary General of Vienna Economic Forum, Amb. Dr. Elena Kirtcheva, noted in her remarks, “Only through dialogue and cooperation can we shape a prosperous and peaceful common future.”
Moving forward, Vienna Economic Forum will continue to serve as a high-level platform where political will meets economic opportunity. With Moldova’s EU accession process gaining momentum, such regional platforms will remain vital in promoting mutual understanding, mobilizing investments, and advancing the socio-economic convergence of Southeast Europe.
Vienna Economic Forum thanks all cooperation partners for their support: AME International GmbH, BC Moldindconbank SA, Bulgarkontrola AD, Canon CEE GmbH, Chamber of Economy of Montenegro, enso GmbH, Glavbolgarstroy Holding AD, Municipal Guarantee Fund of Sofia Municipality, Novomatic AG, Serbian Association of Economists, SOPHARMA AG, Steiermärkische Bank und Sparkassen AG and Vienna Insurance Group AG Wiener Versicherung Gruppe.
Special thanks to: BC Moldindconbank SA, Canon CEE GmbH, DONARIS Vienna Insurance Group SA, European Investment Bank (EIB) and GRAWE Grazer Wechselseitige Versicherung AG.
A special thanks goes to the Embassy of Austria in Chișinău for the excellent cooperation.
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