In recent years, Moldova’s IT sector has almost doubled its contribution to the country’s economy and increased its export volume fivefold, according to statistics presented at an event in Chisinau on 26 April. Organised by Moldova Innovation Technology Park, Europe’s first ‘e-Park’, the fourth SUM IT UP 4 IMPACT event highlighted significant growth and transformation of the country’s IT industry.
The event served as a platform for exploring new trends and opportunities. It showed that, with support from the public and private sectors, Moldova, and MITP within it, is rapidly becoming a technology hub, attracting talent, investment and attention from around the world.
In the past five years, MITP has become the largest IT entrepreneurial community in Moldova. The number of MITP resident companies quadrupled from 338 in 2018 to 1308 in 2022 and it now hosts more than 1,400. According to MITP, together these companies create almost 19000 jobs and generate 11% of the country’s total exports. During the event, other impressive statistics were also presented:
- Foreign investments in Moldova’s IT sector doubled during the 2018-2022 period and the number of companies with foreign capital increased to 207.
- In terms of economic contribution, 73% of the revenue of the IT industry in Moldova is generated by MITP residents.
- In addition, the IT industry’s contribution to Moldova’s GDP increased from 2.7% to 5.1%, with eight out of ten of all IT employees working in MITP resident companies.
The event highlighted how Moldova’s IT sector has become increasingly attractive for both local and international professionals and investors. It also showcased some success stories of MITP resident companies, highlighting the park’s key role in supporting the growth of start-ups and IT services companies. MITP residents Endava, MGrinder, and Bully Entertainment shared their prospects and success stories.
Co-founder of the SelfTalk startup, Veronica Vanica, said that the rapid development of Moldova’s technological industry and MITP’s support attracted her team back to Moldova from the UK. “It’s not just about the single 7% tax for us, but also about opportunities to participate in international events and valuable networking opportunities within the ecosystem.”
During the event, the Minister of Economic Development and Digitalisation, Dumitru Alaiba, confirmed that the Moldovan government will continue to support MITP’s efforts by strengthening the technological ecosystem of the country. Proposed reform of the IT Park Law, which is still in the form of a project, would extend the duration of the fiscal regime from 10 to 20 years, with a guarantee from the state for the entire duration of the park’s activity, following regional trends in neighbouring countries such as Romania, Ukraine and Belarus. He said that Moldova’s IT sector has increased its export volume five-fold since 2016, surpassing growth rates of Estonia, Belarus, Romania and Ukraine.
You can access a presentation about the evolution and impact of MITP or see a SUM IT UP 4 IMPACT video on YouTube or via the MITP Facebook page.