Moldova Attracts Foreign Businesses

Moldova Attracts Foreign Businesses

bbc.com

Moldova Attracts Foreign Businesses

Moldova's efforts to attract foreign businesses through tax incentives and economic reforms, amidst political challenges and its EU accession bid.

English
United Kingdom
PoliticsEconomyTechnologyEuropeInternational TradeBusiness
DevelopmentaidMoldova It Park (Mitp)Transparency InternationalBbc
Luc VocksMaia SanduDumitru AlaibaSven Wiese
What are the key factors attracting foreign businesses to Moldova?
Moldova is attracting foreign businesses due to low tax rates, particularly for tech companies in the Moldova IT Park (MITP). The MITP offers a 7% corporation tax rate and other incentives, attracting over 2,000 companies.
How does Moldova's EU accession bid relate to its economic reforms?
The Moldovan government's efforts to attract foreign investment are part of a broader modernization and EU accession drive led by President Maia Sandu. Recent constitutional changes supporting EU membership reflect this goal, despite opposition from Russia.
What is the impact of the Moldova IT Park (MITP) on the country's economy?
The Moldova IT Park (MITP) has significantly boosted Moldova's IT sector, generating €365 million in revenue in the first half of 2024 and employing 22,000 people. However, increased salaries are creating challenges for smaller businesses.
What challenges does Moldova still face in terms of its business environment?
While Moldova has made progress in reducing corruption and improving its business environment, challenges remain. The country's rise in Transparency International's Corruption Perceptions Index shows improvement, but further reforms are needed.
How has the experience of foreign entrepreneurs like Luc Vocks changed over time in Moldova?
Luc Vocks, a Dutch entrepreneur, highlights the positive changes in Moldova's business environment since 2007, contrasting the bureaucratic difficulties he initially faced with the improved conditions today. He runs a company with 180 employees in Chisinau.