CHISINAU, Moldova, May 17, 2024 /PRNewswire/ — Moldova is positioning itself as a rising tech hub with the release of the “IT Investment Guide for Moldova“, prepared by Emerging Europe. This guide provides detailed insights into Moldova’s dynamic IT sector, showcasing strategic advantages, opportunities, and incentives for investors.
The Moldova Innovation Technology Park (MITP) is central to this transformation, driving the nation’s digital agenda and fostering a robust innovation ecosystem. Hosting over 21,190 IT specialists, MITP significantly contributes to Moldova’s GDP and IT exports.
Key Advantages of MITP:
- Single Tax Rate: MITP residents enjoy a single tax rate of 7%, replacing the entire tax burden for companies and employees.
- Zero Corporate Income Tax: Resident companies are exempt from corporate income tax, local taxes, real estate, and road taxes.
- Work Permits: The IT Visa Programme offers four-year work permits for top managers and two-year permits for IT specialists and their families.
- Talent and Education: Moldova has a strong pool of IT graduates, supported by leading universities and training programs.
Growth and Achievements:
Moldova’s IT sector has shown remarkable growth and resilience. Between 2016 and 2022, the sector achieved a 37.1% annual revenue growth rate and a 40% annual growth in IT exports. The IT sector now constitutes a significant part of Moldova’s economy, with MITP accounting for about 80% of the sector and five percent of the nation’s exports.
The guide highlights success stories of international and local companies thriving in Moldova’s business environment, including Amdaris, Endava, Bloomcoding, and Crunchyroll. These companies have leveraged MITP’s benefits to expand and innovate in their respective fields.
Strategic Positioning:
Moldova’s alignment with the European Union’s Digital Transformation Strategy enhances its appeal to investors. The country’s commitment to digitalization is evident in its advanced public services and robust infrastructure. Moldova ranks highly in the IT Competitiveness Index, surpassing many regional peers in talent availability, business environment, and economic impact.
A Promising Future:
Moldova’s digital transformation strategy aims for 100% digitalization of public services, setting a high standard for tech-driven economic development. For investors and businesses exploring opportunities in Eastern Europe, Moldova offers a compelling proposition. The “IT Investment Guide for Moldova” showcases the country’s achievements and serves as a roadmap to its digital future.
SOURCE Moldova Innovation Technology Park
