Moldova Innovation Technology Park (MITP) has significantly boosted its contribution to the country’s GDP, tripling its share since 2015. At the SUM IT UP#6: Global Connect event during Moldova Business Week 2024, MITP’s pivotal role in advancing the IT sector and establishing Moldova as a regional tech hub was spotlighted.
MITP’s favorable business conditions, including a simplified 7% single tax regime, skilled workforce, and low operational costs, have attracted over 2,000 resident companies. This has solidified Moldova’s reputation as a prime IT investment destination. The Park’s streamlined administrative processes and stable regulatory environment have been key to its appeal, drawing 178 foreign companies from 33 countries, including major players from Romania, Ukraine, the U.S., and Germany.
Prime Minister Dorin Recean emphasized MITP’s role in fostering local business growth:
“Moldova Innovation Technology Park creates opportunities for local and foreign investors alike. The government remains committed to supporting innovation, with €5 million allocated next year for IT startups, signaling Moldova’s determination to maintain its global tech competitiveness.“
In the first half of 2024, MITP residents generated €365 million in revenue, with expectations to reach €800 million by year-end. The Park has also become a leader in IT service exports, with Moldova’s IT exports increasing tenfold since 2015, outpacing regional competitors like Romania, Ukraine, Estonia, and Latvia.
MITP’s Administrator Marina Bzovîi noted the importance of fiscal benefits and operational stability:
“The extension of MITP’s term until 2037 provides long-term security for companies, enabling growth and expansion in Moldova. In 2024 alone, 380 new companies joined the Park.“
MITP’s continued growth is reflected in its workforce, with over 22,000 employees, representing 4.4% of Moldova’s total workforce, and the highest average wages in the country at €2,280 monthly. Looking ahead, government investments in startups and infrastructure will further reinforce Moldova’s standing as a regional tech leader.
