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American company to invest over 6 million dollars in Moldova

14:35 | 03.03.2017 Category: Official

Chisinau, 3 March /MOLDPRES/- Prime Minister Pavel Filip and chief executive of the Frontera Resources Corporation Steve Nicandros today signed a declaration on cooperation between the Moldovan government and “Frontera Resources International” on hydrocarbon exploration in the basin of Dobrogea in southern Moldova. Attending the event was also US Ambassador to Chisinau James Pettit, the government’s communication and protocol department has reported.

The company will explore hydrocarbon in southern Moldova and will invest over 6 million dollars next 5 years. At the same time, investor will create about 300 jobs.

The premier said that the cooperation goes beyond the notion of an investment, contributing to security and energy independence of the country. This will be reflected in better prices for energy, and also in avoiding any geopolitical mixtures in Moldova.

“The reforms are successful and we see an increasing interest of foreign investors in our country. We want to bring investors in the country by creating an attractive business environment, as entrepreneurs are founding businesses, create jobs, provide wages and pay taxes, thus offering to the Moldovan government the opportunity to make social investments”, he said.

The premier assured that the government would be further open in dialogue with business environment and would provide every support for overcoming constraints and deficiencies faced by investors.

For his part, Steve Nicandros said he was grateful to the Moldovan government for the opportunity to be partners. “We are excited to become a new citizen in Moldova’s economy. We believe in government reforms that make us to feel comfortable in investments and we want to manage to help develop security and energy independence of Moldova”, he said.

Attending the event, James Pettit said that the business environment in Moldova had improved and this was a significant achievement. “I am very proud that an American company will carry out this project in Moldova, and I hope it is only a start to increase investments, not just American, but generally foreign investments”, he said.

“Frontera Resources” is an international oil and gas exploration and production company, which is founded in 1996.