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ONV LAW is is extending its presence to Chisinau with a strategic objective of achieving a business turnover of EUR 2.5 million in 2024

The Republic of Moldova, an increasingly dynamic investment market

  • ONV LAW is broadening its consultancy services to international markets by launching a new subsidiary in Chisinau. The law firm has set a target of surpassing a cumulative turnover of EUR 2.5 million for the year 2024.
  • "The surge in foreign investments from the Republic of Moldova resulted in a 50% volume increase in 2022 compared to the previous year, as reported by the statistics of the National Bank of Moldova*. In 2023, we notice a sustained positive trend," stated Radu Nemeș, Managing Partner at ONV LAW.
  • The Republic of Moldova will have access to European funding totaling more than EUR 2.5 billion, in the upcoming period, through the Connecting Europe Facility. These funds will be allocated for significant infrastructure and digitization projects.

 

Leveraging its established standing in the Romanian market, ONV LAW is extending its consultancy services to international arenas by inaugurating a new subsidiary in Chisinau, Republic of Moldova. The law firm sets its sights on achieving a cumulative turnover exceeding 2.5 million euros in 2024, derived from both the local business volume and the contributions of the newly established subsidiary.

The company's expansion aligns with the favorable economic development context in the Republic of Moldova over the last two years, driven by its proximity to the European Union. The specialized team of lawyers based in Chisinau will play a key role in leveraging foreign investment opportunities, particularly in sectors such as IT, Business Process Outsourcing, automotive, retail, banking, and the tobacco industry. Their focus will be on providing legal assistance to navigate dynamic and thriving business environment in the Republic of Moldova.

In recent years, there has been an increase in the number of multinational corporations strategically expanding their operations in the Republic of Moldova. Some of the most recent examples are Schoni Finefood from Switzerland, Kaufland, BauTex Composites (Germany) or Scan Plast/ Tunetanken (Denmark) .

"The surge in foreign investments from the Republic of Moldova resulted in a 50% volume increase in 2022 compared to the previous year, as reported by the statistics of the National Bank of Moldova*. In 2023, we notice a sustained positive trend. Through our solid expertise in the segment of international consultancy, encompassing areas such as M&A, corporate law, but also public procurement, we want to be an active part of the development of this dynamic region", stated Radu Nemeș, Managing Partner at ONV LAW.

Public procurement also offers significant opportunities in the context in which, in the coming years, Moldova will also have access to European financing, totaling over 2.5 billion euros, through the Connecting Europe Facility. These funds will be allocated for significant infrastructure and digitization projects.

Mihail Gorincioi, an experienced lawyer, will take on the responsibility of coordinating ONV LAW's operations in Chisinau. With a substantial portfolio of projects covering areas such as health and safety, HoReCa, real estate, environmental protection, and the safeguarding of human rights and freedoms, he brings considerable expertise to international consulting endeavors. His track record includes successful project management for clients across various areas, including Belgium, France, and the USA.

Mihail Gorincioi is a member of the Council of the Training Center for Lawyers within the Union of Lawyers of the Republic of Moldova, trainer in the field of European Union Law and was part of the team of experts of the Republic of Moldova within the Council of Europe. He is a graduate of the Faculty of Law of the "Alexandru Ioan Cuza" University in Iasi.

"The clients we will manage in Chisinau come from sectors such as financial-banking, logistics and transport, telecom, retail, construction, pharma, IT, the textile industry and infrastructure. The legislative system in the Republic of Moldova, although unpredictable, offers facilities to the business environment such as low taxes compared to the rest of European countries, online reporting of all accounting balance sheets, the possibility of using electronic signatures and low operational costs. In addition, the residents of the Free Economic Zones of the Republic of Moldova enjoy a series of significant benefits related to taxes or VAT. Among the areas of practice that we will focus on in the Republic of Moldova are public procurement, infrastructure, corporate law, real estate, telecom, energy and litigation", says Mihail Gorincioi.

Since January of this year, has held a position on the Board of Directors of the Association of Investors from Romania in the Republic of Moldova. This membership signifies our active involvement in the main dialogue platform connecting central and local authorities of the neighboring country with Romanian investors. The primary aim is to collaboratively enhance the business climate in the Republic of Moldova.

Founded in 2000, ONV LAW is one of the most dynamic law firms on the Romanian market. Currently, the law firm provides the Presidency for Europe of the global legal network Legal Netlink Alliance (LNA), which brings together 95 law firms and more than 1500 lawyers from all over the world. Also, ONV LAW is a member of the global legal network Interlaw, which brings together more than 8000 lawyers, globally.

ONV LAW provides legal advice to private companies, but also to public institutions, in several areas such as public procurement, infrastructure and concessions, mergers and acquisitions, corporate law, real estate, competition, telecom, but also labor law, GDPR, IP or protection the environment.

*National Bank of Moldova

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