IT industry experiencing fastest growth rate in national economy

Chisinau, 9 July /MOLDPRES/- For the third consecutive year, the information technology (IT) industry is experiencing the fastest growth rate in the national economy, reconfirming its development potential and prospects, the Ministry of Economy and Infrastructure (MEI) has reported.

According to the institution, "the remarkable results are mainly due to the mechanisms to support the IT industry through dedicated public policies, especially the legislation on IT parks, based on which Moldova IT Park operates - the first and only virtual IT park in our country" .

Despite the pandemic situation, Moldova IT Park registered remarkable results in 2020. Thus, at the end of last year, Moldova IT Park had 658 residents, of which 513 companies with local capital and 145 companies with foreign capital. This indicator increased by 25% compared to 2019 and by 95% compared to 2018. The highest growth rate in the last 3 years was recorded by companies with local capital (513 residents in 2020 compared to 242 residents in 2018 ), and companies with foreign capital also increased their presence in the park by more than 50% during this period (145 vs. 96 respectively).

Resident companies are founded by investors from the Republic of Moldova and 34 other countries. Top five countries from which foreign capital comes are: United States (25 companies), Romania (18 companies), Italy (13 companies), United Kingdom (11 companies) and Germany (11 companies).

Almost 50% of the resident companies were created in the last three years, after the launch of Moldova IT Park, the fiscal and operating model of which stimulated the creation of new companies. The sales income achieved by the residents of Moldova IT Park in 2020 reached 4.99 billion lei, being 37% higher compared to 2019 and 2.6 times higher than that recorded in 2018.

According to the State Tax Service, in 2020, the contribution of Moldova IT Park residents to the national public budget amounted to 539.4 million lei, of which 387.15 million lei related to the single tax and 152.3 million lei related to other taxes and taxes. Respectively, the value of taxes and fees paid by the residents of the Park increased by 34% or 136.2 million lei in 2020 compared to 2019, and by 59% or 199.2 million lei compared to 2018.

Currently, Moldova IT Park brings together 800 companies, being the main engine for the development of the IT industry and to increase its competitiveness at regional level.

photo: MEI