Over 100 automotive companies met at the forum "Moldova Automotive Days 2017", staged for the first time in Chişinău.

It was joined by 45 investors from Europe, and 72 from Moldova.

A new auto cabling line is to open this fall in the southeastern town of Căuşeni, an investment of EUR10 mn.

"We now have 40 employees. We plan to reach 2,000 till the end of the year and to 7,000 in 2-3 years," said Andres Dapp, a representative of a foreign company.

Another company, from Germany, started working in the production area from Orhei town.

"It’s an extraordinary opportunity for Moldova. It’s a wave, namely in the automotive cabling. The labor is competitive. We do have skilled workers willing to work," said Igor Corman, the financial manager.

The turnout of the foreign investments has doubled for the last two years, says Economy deputy minister Vitalie Iurcu: "This investments grew EUR50 mn in 2016. We assess the investments to reach EUR100 mn."

Premier Pavel Filip assures the Cabinet will further the reforms to make good conditions for foreign investors: "Yesterday we endorsed a bill severing over 150 permitting acts. Only 150 of them will remain within a month."

As many as 10,000 people are already employed in the Moldovan automotive sector.