PM says Moldova has all premises for IT sector to be extended

Chisinau, 19 November /MOLDPRES/ - Moldova’s economic and investment opportunities today were unveiled to the international community at the Moldova Business Week 2020 forum , the government’s communication and protocol department has reported.  

Prime Minister Ion Chicu participated in the official opening of the event, the seventh edition, organized in digital format by the Investments Agency in Chisinau. Attending the official ceremony were EU Ambassador to Moldova Peter Michalko, as well as U.S. Ambassador to Moldova Dereck J. Hogan.  

The PM informed the development partners, business environment’s and public institutions’ representatives, international leaders and entrepreneurs about the Moldovan cabinet’s goals and priorities, aimed at creating a sustainable and inclusive economy, which is to provide opportunities to everybody. Ion Chicu reiterated the government’s openness for developing business partnerships in diverse strategic sectors of Moldova’s economy.  

Having a strategic geographical position, being a neighbour of the European Union and more free trade agreements with EU, Commonwealth of Independent States (CIS), Organization for Democracy and Economic Development (GUAM) and others, Moldova presently has privileged access to a wider export market.  

„Moldova, being between East and West, is a place you can look at with  confidence. We have quite good positions from the viewpoint of the macro-economic stability, despite all impressions given by politicians. We have a stable banking system, without currency shocks and without problems with the state debt or the budgetary system. In the present conditions, this is a solid indicator and  criterion for investors, when they choose a destination.’’     

Pursuing the goal of sustainable economic development, the government substantially invests in infrastructure, which is badly necessary for attracting investors. With the support of the development partners, national projects were launched, with tens of sites of construction and reconstruction of national, regional and local roads, which are to a great extent implemented.  

Another advantage represents the ambitious programme of the country’s industrialization, with a pilot project on the development of 18 multifunctional industrial platforms in diverse districts launched. Also, investors who choose to develop business in Moldova can benefit from attractive conditions and fiscal facilities offered by those seven Free Economic Zones and 10 Industrial Parks.   

At the same time, Ion Chicu also touched upon the process of economy’s digitalization and development of the IT sector, which has enjoyed success in the last years and remains one of the government’s priorities. Due to the support policies, the figure of export of IT services recorded a growth of about 40-50 per cent in the last three years.

„Moldova has all chances for this sector to be extended. We have the IT Park model, recognized in the world as one of the most successful models of backing an economic activity. We have over 10,000 young people employed, with an average salary of 30,000 lei monthly. This is a good example and it is clear that the digitalization is a direction in which Moldova can be successful,’’ Ion Chicu said.   

The prime minister also said that the fiscal and customs policy measures for 2021 were oriented to a friendly legislation to the country’s economic development.  

At the event, the EU Ambassador said that the Association Agreement with the European Union and the Deep and Comprehensive Free Trade Agreement between Moldova and EU represented strong instruments in Moldova in the attraction and increase in both external and domestic investments.  

„In 2019 year alone, 70 per cent of the investments made in Moldova came from EU through more projects. Due to this support, a considerable increase in the export in the IT sector was recorded, the regional infrastructure is developed, the country’s energy security grows, a continuous process of modernization and digitalization of the economy takes place,’’ Peter Michalko said.

For his part, U.S. Ambassador Dereck J. Hogan said that the United States would continue backing Moldova in its efforts of development on diverse dimensions. ‘’I hope that business people from the USA will choose to invest in Moldova; we see big potential of economic development here,’’ the U.S. Ambassador added.

The discussions on the Moldova Business Week 2020 platform will be held on 19-20 November.

Photo: Government