Moldova Innovation Technology Park Triples Contribution to GDP, Strengthening Country’s Regional Tech Hub Status

Moldova Innovation Technology Park (MITP) has significantly expanded its contribution to Moldova’s GDP, tripling its share since 2015. This achievement was highlighted at the SUM IT UP#6: Global Connect event, held as part of Moldova Business Week 2024. It highlighted MITP’s central role in fostering growth within Moldova’s IT sector and positioning the country as a regional tech hub.

Moldova Innovation Technology Park (MITP) continues to be a key driver of the country’s economic development, the Park’s favourable business conditions, including a simplified 7% single tax regime, skilled workforce, and low operating costs, have attracted over 2,000 resident companies, solidifying Moldova’s reputation as a competitive destination for IT investments.

MITP’s attractiveness to both local and foreign investors is underpinned by its streamlined administrative procedures and a stable regulatory environment. The Park offers long-term operational certainty, with its framework extended through 2037, ensuring businesses can grow confidently. Since its launch, MITP has attracted 178 foreign companies from 33 countries, including key investors from Romania, Ukraine, the United States, and Germany. This surge in foreign interest reflects Moldova’s growing status as a reliable IT services provider in the region.

Prime Minister Dorin Recean emphasized the Park's role in enabling businesses to thrive locally, stating: "Now, more than ever, we can conduct business more easily and efficiently at home. Moldova Innovation Technology Park offers attractive opportunities for both local entrepreneurs and foreign investors. The government is committed to fostering innovation and attracting more foreign investment, with plans to allocate €5 million next year to support the development of IT startups. This is a clear signal that Moldova is serious about maintaining its competitive edge in the global technology market.”

In the first half of 2024, MITP residents generated €365 million in revenue, with projections suggesting this figure could reach €800 million by the end of the year. MITP has also established itself as a regional leader in IT services exports, with Moldova’s IT exports increasing tenfold since 2015. This positions Moldova ahead of neighbouring competitors, including Romania and Ukraine, as well as other regional players like Estonia and Latvia. Marina Bzovîi, Administrator of MITP, highlighted the importance of the Park’s fiscal advantages and long-term stability in attracting new companies:

"The top seven countries contributing to our growth—Romania, Ukraine, the USA, Germany, the UK, and Turkey—have been drawn by our advantageous tax regime and operational stability. In 2024 alone, 380 new companies joined MITP. The extension of the Park’s operational term until 2037 offers these companies long-term security, enabling them to plan for future expansion in Moldova."

MITP’s steady growth is further reflected in the increasing number of employees in the sector. Currently, over 22,000 individuals are employed by resident companies, representing 4.4% of Moldova’s workforce—the second highest percentage in Europe. In addition, salaries in the IT sector remain the highest in the country, with the average monthly wage within MITP reaching €2,280.

As MITP continues to expand, the government’s commitment to supporting the IT sector is reinforced through planned investments in startups and infrastructure. The Park’s strategic location, competitive costs, and skilled workforce provide a strong foundation for sustained growth in the coming years.