Moldova Transforms into a Business-Friendly Hub for Foreign Investors
- In 2018, Moldova launched the Moldova IT Park to boost its IT sector and attract foreign firms.
- Over 2,000 companies are currently registered with the MITP, benefiting from favorable tax rates.
- Moldova's efforts have significantly reduced corruption and improved the business climate, making it easier for foreign investors.
Moldova has made significant strides in attracting foreign businesses by reforming its economic policies and implementing a virtual initiative known as the Moldova IT Park (MITP) since 2018. This program offers a favorable 7% corporation tax rate for IT firms, resulting in a rise of over 2,000 registered companies, including 300 from abroad. While salaries for IT specialists have surged, driven by foreign investment, many local workers still seek opportunities abroad. The government has been keen on showcasing its rapid transformation, positioning Moldova as a vibrant business environment suitable for tech companies. As a result, Moldova's rank on the corruption index has improved from 91st to 76th place among 180 countries, demonstrating the country's ongoing commitment to enhancing its business landscape.