Moldova proposes special law to accelerate CFM reorganization

Moldovan authorities are proposing a special law to accelerate the reorganization of the state enterprise ‘Calea Ferată din Moldova’ (CFM). The goal is to establish ‘CFM Infra’ as a joint-stock company to manage railway infrastructure by the end of 2026.

The reform aims to separate the infrastructure manager from the operators responsible for passenger and freight transport, aligning with the Railway Transport Code. While the reorganization is already underway, officials warn that standard legal procedures—such as full asset valuation, creditor notifications, and fiscal audits—could delay the process until spring 2027.

To meet the deadlines set by the Republic of Moldova’s 2025-2027 Growth Plan, the proposed law includes several derogations. Specifically, mandatory asset valuation would only apply to assets forming the social capital of ‘CFM Infra’, while other transferred goods would be recorded at their book value. Authorities noted that a full valuation of all assets would cost the state budget tens of millions of lei.