Moldova: Encouraging Young Women in Business

The role of women in supporting economic growth has been widely acknowledged and is increasingly reflected not only in economic research but also in policy decision-making around the world. In this context, the World Bank and the International Financial Corporation (IFC) hosted an informal event in Moldova on 23 March that brought together successful business women to discuss their experiences and to act as role models for young women starting out in their careers.

The event, titled “How to encourage young women to develop a successful career in business” was organized by the IFC Country Office for Moldova and Romania and the World Bank Country Office for Moldova, and is the beginning of a series of meetings which aim to promote career counseling and share success stories with a new generation of women. The event was opened by Mrs. Ana Maria Mihaescu, Country Representative for IFC for Moldova and Romania.

Among the guests invited to speak at the event  were Mrs. Natalia Vrabie, CEO of Moldova AgroIndbank, Mrs. Liudmila Climoc, CEO of Orange Moldova, Mrs. Silvia Radu, CEO of Union Fenosa Moldova, Mrs. Angela Solcan, Dean of the Faculty of Management and Business Administration from ASEM, Mrs. Corina Cepoi, CEO of the Center for Independent Journalism and Mrs. Nata Albot, TV producer with Jurnal TV. Questions were posed by some of the best performing female students at the Academy for Economic Studies of Moldova and covered such topics as career development, work and life balance, and the necessary ingredients for success in business.

In addition, a presentation was made about the main findings of a report titled “Women, Business and the Law” for the Eastern Europe and Central Asia region. Produced jointly by the World Bank and the IFC, this report sets out indicators to measure how laws and regulations can affect women’s prospects as entrepreneurs and employees. It measures legal differentiations on the basis of gender in 141 economies around the world, covering six areas: accessing institutions, using property, getting a job, providing incentives to work, building credit, and going to court.

Discussions at the event, which organizers hope is just the start of a series of similar networking events for business women, as well as career counseling for students, covered a wide range of issues including life and work balance, the need for more cultural openness and encouragement of career women, the need for more professional networking events dedicated to business women, and the role of mentorship and dialogue.