Moldova’s president nominates businessman Vasile Tofan as prime minister

The announcement comes after the previous prime minister, Alexandru Munteanu, stepped down earlier this month.

Moldova’s president has nominated a financier with no prior government experience as the country’s next prime minister, tasking him with restoring public trust and pushing forward the country’s bid to join the European Union.

President Maia Sandu named Vasile Tofan, 44, a senior partner at investment firm Horizon Capital, on Saturday, after the previous prime minister, Alexandru Munteanu, stepped down earlier this month, citing an inability to carry out his duties in line with his convictions.

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At the time, Sandu thanked Munteanu for his service and for initiating “difficult but needed reforms”.

Moldova’s governing Party of Action and Solidarity (PAS), which controls both parliament and the government, backs Tofan.

Under Moldova’s constitution, Tofan has 15 days to present a governing programme and Cabinet lineup to parliament for approval.

Tofan tasked with securing EU accession

Speaking at a news conference in Moldova, Tofan said reviving the economy would be among his top priorities, as would securing Moldova’s accession to the EU by the end of 2028.

“If we do not restore optimism in the eyes of entrepreneurs, nothing else will work because there simply will not be money for it,” he said.

Tofan said he had not planned major changes to the current cabinet at this stage, arguing that continuity was needed to keep government programmes on track and meet deadlines related to Moldova’s EU accession process.

“If we miss this window, we risk significantly delaying our path,” he said.

“The main challenge I will face is finding a balance between the rapid changes that are needed and continuity.”

Days before his nomination, Tofan published a Facebook post describing Argentinian President Javier Milei as an example of economic reform.

After drawing criticism on social media, he later said he no longer believed Argentina’s approach was applicable to Moldova.

Moldova is nestled between Ukraine and EU member Romania.

It has a Romanian-speaking majority and a ‌large Russian-speaking minority.

Political power has oscillated for decades between parties supporting closer ties with Europe and those ‌seeking better ‌relations with Moscow.