In brief
Moldova is embracing foreign entrepreneurs with low tax rates and initiatives like the Moldova IT Park (MITP), driving economic change and modernizing the country ahead of its potential EU membership.
Moldova is on a mission to become a foreign business magnet as it shakes off its turbulent political history. Entrepreneurs like Dutchman Luc Vocks, who set up his company, DevelopmentAid, in the capital, Chisinau, have noticed significant transformations since 2007. "Back then, it was hard to run a business, but now it's much easier," he reflects. With a corporate tax rate as low as 7% for tech firms under the Moldova IT Park (MITP) initiative, the government is fostering a thriving environment for IT-related businesses.MITP has seen over 2,000 companies join, with many coming from countries like the US and Germany. This economic shift is backed by Moldova's pro-EU government, led by re-elected President Maia Sandu, who aims for EU membership by 2030. Amid geopolitical challenges, such as the ongoing conflict in Ukraine, Moldova is positioning itself as a secure hub for business, boasting significant raises in salaries and a boost in GDP contribution. Even as emigration issues persist, the country's dedication to reform and modernization makes it a promising spot for global investment.
