Mon, Apr
43 New Articles

Moldova Shows Flexibility and Builds Resilience: A Buzz Interview with Sorin Dolea of Dolea & Co

Moldova Shows Flexibility and Builds Resilience: A Buzz Interview with Sorin Dolea of Dolea & Co

  • Smaller Small Medium Big Bigger
  • Default Helvetica Segoe Georgia Times

Amendments to the law on gas, the corporate legal framework, as well as proposed amendments to the tax code all indicate the existence of a vibrant legislative landscape in Moldova, according to Dolea & Co Partner Sorin Dolea. To top it all off, Moldova also recently registered a financial market milestone: its first corporate bond transaction.

“The recent amendments in Moldova's gas law are intriguing from two perspectives,” Dolea begins. “Firstly, they encourage the storage of natural gas, which is a strategic move towards energy security. However, there are some controversial provisions, such as the 'exit fee' which discourages competition in the gas supply market. Such provisions have sparked debates within the industry,” he explains.

Moving on to specific corporate law matters, Dolea shares more insights into the amendments regarding joint-stock companies and limited liability companies. “The amendments to the law on joint-stock companies and LLCs aim to establish new rules governing relationships between shareholders,” he says. “One noteworthy addition is the specific provision allowing arbitration agreements to be concluded between shareholders, promoting arbitration as a means of resolving corporate disputes. These changes are significant for the business community seeking efficient dispute resolution mechanisms,” he explains. Moreover, he stresses that “the new law on LLCs brings fundamental changes, especially with respect to share structures and distribution of dividends.”

In addition, Dolea also mentions a set of proposed changes to the tax code. “The new tax code, currently in draft form, represents a shift in the approach of Moldovan legislators towards tax law,” he reports. “While I won't delve into specific details, these changes are significant and can have wide-ranging implications for individuals and businesses alike.”

Furthermore, Dolea mentions that Moldova recently saw a milestone: its first-ever transaction involving corporate bonds on the Moldova Stock Exchange. “This was a historic moment for Moldova's financial market,” he says. “This development signals a growing diversification of investment opportunities in the country's markets.” 

Finally, speaking of interesting market shake-ups, Dolea turns his attention to the energy sector. “Moldova is undergoing a major transformation, particularly in the realm of renewable energy,” he says. “Although the market tends to liberalize, Moldova still faces a number of challenges throughout this process. One of them is the current ban on the issuance of gas supply and trading licenses, which keeps any new potential gas suppliers and traders away from Moldova. However, the process of transitioning from Eastern to Western energy sources is irreversible, and this is essential for energy security and sustainability.”

In conclusion, Dolea shares that he feels the Moldovan “business community has shown remarkable resilience and adaptability. While these legal changes would once have been considered 'force majeure,' they are becoming part of the new normal.”

Moldovan Knowledge Partner

ACI Partners is a leading law firm in Moldova with an expanding network of partners throughout Europe. ACI Partners was established in 2006 and since then has managed to build a very strong and competitive legal practice. Our business strategy strives to deliver a solid and reliable service, going beyond merely grasping the law, which the clients may turn to whenever they need. In reaching this goal, ACI Partners employs a personalized approach to each client, showing a genuine respect for their values and unqualified commitment to their interests and needs, steadily investing in knowledge and data management and ensuring a working environment consistent with our clients’ quality demands and high expectations.

ACI Partners is a one-stop shop law firm proficient in all possible legal matters a business might come across in Moldova, starting with incorporation of a business, and obtaining of all the necessary regulatory permits, continuing with various daily matters, such as contracts, labor, and migration, and finishing with dispute settlement, insolvencies, and criminal investigations. But we pride ourselves especially for our unmatched expertise in most innovative and complex areas for Moldova, as Modern Financial Products, Data Protection, Renewable Energy, Competition, Clinical Studies, Public Procurement, and Regulatory. In our work, we always involve a team of professionals with the relevant skill-mix, which enables us to provide our clients with an integrated and comprehensive advice, superior to our competitors.

ACI Partners has advised the Government of the Republic of Moldova, businesses, international organizations, and other institutions on most challenging transactions, assignments and projects.

ACI Partners is not just another law firm. Over the course of our existence and working in Moldova, and on the international stage for our non-Moldovan clients, we have developed a strong set of core values which, we believe, guide us in everything that we do and, moreover, gives us a competitive advantage – differentiating us from other firms on the market.

Firm's website.

Our Latest Issue