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The law on attracting foreign investment in the production of films and other audiovisual works will come into force in Moldova from October 1, 2018

The law on attracting foreign investment in the production of films and other audiovisual works will come into force in Moldova from October 1, 2018

The law passed earlier by the Parliament is published in Monitorul Oficial and regulates the conditions and procedure for providing financial assistance in accordance with the goals and tasks set, as well as keeping records and reporting on the use of budgetary allocations invested in the production of films and other audiovisual works. The law establishes a transparent investment scheme for the production of films and other audiovisual works designed to encourage foreign investment in the full or partial production of films and other audiovisual works. The purpose of the investment scheme is to attract to Moldova full or partial foreign production of movies, television films and serials, animated films and serials, as well as other audiovisual works. The main tasks of the said law are the following: attracting foreign investment in the full or partial production of films and other audiovisual works on the territory of Moldova; promotion of national cultural identity through the production of films and other audiovisual works; the development of the production of films and other audiovisual works as an integral part of the national culture through the provision of financial support by the state; the development of European and international cooperation in the field of cinematography and television and radio broadcasting; establishment of order and procedures for the implementation of the Investment Scheme for the production of films and other audiovisual works in the territory of the Republic of Moldova; the development of cooperation between the producers of Moldova and from abroad for the purpose of production, joint production or provision of specialized services in the production of films and other audiovisual works in the territory of the Republic of Moldova. Beneficiaries of the Scheme for investments in the production of films and other audiovisual works may be producers, co-producers or companies producing films and / or other audiovisual works that are legal entities registered in the Republic of Moldova with a cooperation agreement concluded with a foreign producer or film production company / or other audiovisual works production company. The beneficiary of the investment Scheme, the founders of the beneficiary or the group of companies that include the beneficiary must have at least 3 years of experience in the production of films or other audiovisual works. The beneficiary’s dossier will be considered by an expert commission consisting of 4 permanent members: a representative of the Investment Agency; a producer who is a member of the National Center of Cinematography or appointed by it; an expert on the budget appointed by the Ministry of Finance; an external expert (an independent film producer - in the case of film production or an independent television producer - in the case of television products). It is also envisaged to create a Council for the provision of financial support for the production of films and other audiovisual works. The Council will be established by the Investment Agency. The duties of the Council will include the following: review of the beneficiary's dossier; conducting cultural and industrial testing; decision on the qualification or non-qualification of a dossier on providing financial support for the production of a film or an audiovisual work. The Council will consist of 7 permanent members appointed by the Ministry of Economy and Infrastructure; Ministry of Education, Culture and Research; National Center for Cinematography; The Ministry of Finance; Coordinating Council on Television and Radio; the film producer; the television producer. //10.09.2018 - InfoMarket.

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