Moldova secures millions in investments at Moldova Business Week 2024

Moldova Business Week 2024 (MBW 2024), held from September 16th to 20th, concluded with remarkable results, securing millions in new investments and fostering numerous opportunities for business growth across key sectors. More than 2,136 in-person participants from countries including Romania, Germany, Italy, Japan, China, and the UK attended the event, with an additional 508,037 individuals participating virtually. Throughout five days, 18 events were held in Chișinău, Edineț, Bălți, and Ungheni, establishing Moldova as a top destination for international investments in Eastern Europe.

The forum highlighted key sectors with potential for growth and development, including the agri-food industry, automotive and electronics, energy and infrastructure, IT, tourism, non-residential real estate, the pharmaceutical industry, medical tourism, and the wine industry. Moldova Business Week 2024 created an ideal setting for networking, collaboration, and the exchange of best practices through thematic conferences, study visits, and B2B meetings. Key announcements during the week included:

• ROCA Industry confirmed a EUR 1.5 million investment to boost production capacities at Vulcănești in the construction materials sector.
• EMS-EBS Electric, a Romanian electronics company, announced the establishment of a new production facility in Moldova, enhancing the electronics industry’s presence in the region.
• BSW Tech launched an innovative app designed to optimize agricultural processes, further supporting Moldova’s emerging agri-tech sector.
• In Ungheni, 20 hectares of land in the Plaiul Fagului Reserve were allocated for an ecotourism project, contributing to the growth of Moldova’s tourism industry.
• During the forum dedicated to the pharmaceutical industry and medical tourism, a memorandum of collaboration was signed between the Moldovan Medical Tourism Association and the Moldovan Association of Pharmaceutical Producers, facilitating synergies for future initiatives.
• Brand Finance presented the results of a global survey involving over 170,000 citizens, which ranked the Republic of Moldova at 118th place in the Global Soft Power Index

Natalia Bejan, General Director of Invest Moldova Agency stated:

“We are proud to see Moldova increasingly recognized as a competitive and attractive destination for international investment. The commitments made during Moldova Business Week 2024 demonstrate the strength of our economy and the confidence global investors have in Moldova’s potential. Our efforts to provide a favorable business environment, combined with strategic infrastructure projects and skilled talent, are paving the way for sustained growth and development.”

Moldova offers significant advantages for foreign direct investment, supported by free trade agreements with 47 countries (covering EU, CIS, CEFTA, EFTA, GUAM, Turkey and United Kingdom), giving investors access to a market of over 1 billion consumers. The country’s Moldova Innovation Technology Park (MITP) offers an attractive 7% flat tax rate on revenue for IT, BPO, and SSC companies, guaranteed until 2035, providing a highly favorable fiscal environment for businesses. The park also facilitates the Contactless Business initiative, enabling remote business management, and offers swift employment of foreign nationals through its IT Visa Program, ensuring easy access to Moldova’s skilled, multilingual workforce. Additionally, Moldova’s six Free Economic Zones (FEZ) and 10 industrial platforms provide tax exemptions, customs duty relief, and simplified procedures, making the country an attractive location for export-oriented businesses.

Moldova’s attractive business environment is further bolstered by several key advantages, including a 0% tax on retained earnings and a 12% corporate income tax, creating a favorable fiscal landscape for investors alongside the ability to register a business in as little as 4 hours. The country’s ongoing digital transformation, with the goal of becoming a 100% digital state, includes over 50% of state services already digitalized, simplifying business interactions and administrative processes. Moldova also recognizes EU electronic signatures, enabling secure and seamless cross-border transactions. Additionally, foreign citizens from more than 50 countries can work in Moldova without the need for work permits, making it easier for international companies to attract global talent. The country’s ongoing improvements in infrastructure, including the Chisinau International Airport, Giurgiulesti Free Port, and the development of a multimodal logistics hub, along with upgrades to road and railway networks, position the country as a strategic hub for international business and trade. Furthermore, Moldova’s role in supporting regional stability and facilitating logistics for the post-conflict recovery of Ukraine underscores its growing importance in the region.

Moldova boasts advanced ICT infrastructure, ranking among the best in the region with 100% mobile penetration and 98.2% optic fiber coverage, ensuring businesses have access to reliable, high-speed internet. Its strategic location offers proximity to major European cities—just two hours by flight—and European markets within two days by truck, providing exceptional connectivity for international trade and business operations. Furthermore, Moldova’s visa-free regime with over 100 countries facilitates easy entry for investors and business professionals, making the country highly accessible for global companies seeking to establish or expand their operations in this strategically located market.

Moldova is making significant strides in expanding its renewable energy sector, the Government is committed to increasing the share of renewable energy to 30% by 2030, creating a robust framework for growth in green energy production and providing substantial opportunities for investors interested in the renewable sector. Moreover, Moldova has completed its synchronization with the European energy network (ENTSO-E), ensuring energy system stability and integration with the European energy market, further enhancing the country’s attractiveness for investment in sustainable energy.

For investors, Moldova offers a unique opportunity to enter an emerging market with competitive operational costs, a skilled multilingual workforce, and a stable regulatory environment. The country’s strategic location between Europe and Asia, its advanced digital infrastructure, and favorable fiscal policies make it a compelling destination for industries such as IT, manufacturing, and logistics.

Moldova Business Week 2024 was organized by Invest Moldova Agency in partnership with the Ministry of Economic Development and Digitalization, in collaboration with 12 representative business associations from various economic sectors. Together, they brought 18 impactful events to the national stage, supporting and developing the business community in the Republic of Moldova.