How MITP's Impact is Transforming the Country into a Tech Powerhouse
Moldova Innovation Technology Park (MITP) has recently concluded the SUM IT UP 4 Impact event, which highlighted the significant growth and transformation of the IT industry in Moldova. Over the past five years, MITP has become the largest entrepreneurial IT community in the country, hosting over 1,400 companies and generating 11% of the country's total exports. As a result, the IT sector has become increasingly attractive to both local and international professionals and investors.
During the event, a series of presentations unveiled impressive statistics that showcased the exponential growth and impact of MITP on the IT industry. The number of MITP residents has increased fourfold from 2018 to 2022, surging from 338 to 1,308. Foreign investment in the sector has also doubled during this period, with the number of companies with foreign capital rising from 97 to 207.
In terms of economic contribution, 73% of Moldova's IT industry revenue is generated by MITP residents. Furthermore, the IT industry's contribution to the country’s GDP has increased from 2.7% to 5.1%, with 82% of all IT employees working within MITP resident companies.
The proposed IT Park Law reform, still in draft form, seeks to extend the term of activity from 10 to 20 years, with a guarantee from the state for the entire duration of the park's activity, following the regional trends in neighboring countries of Romania, Ukraine, and Belarus. The Moldovan IT sector grew its export volume five times since 2016, outpacing growth in Estonia, Belarus, Romania, and Ukraine. Without this extension, it is estimated that over €683 million in potential taxes to the state could be lost. During the event, the Minister of Economic Development and Digitalization, Dumitru Alaiba, has confirmed the support that the Moldovan government will continue to show towards the efforts of MITP in strengthening the country’s tech ecosystem.
The event also highlighted several success stories from MITP residents, emphasizing the critical role of the park in supporting the growth of startups and established IT companies alike. As a central hub for innovation, MITP has fostered an environment that encourages collaboration, knowledge sharing, and the development of cutting-edge technologies.
Viorica Vanica, one of the speakers and co-founder of SelfTalk, has stated that thanks to the fast-paced development of the Moldovan tech industry and support from MITP that the team decided to move back after years of living abroad.
“It’s not all about the unique 7% tax for us investors, it’s also about the opportunities to participate in international events, and valuable networking with like-minded people from the ecosystem.”
In addition to discussing the evolution and impact of MITP, the SUM IT UP 4 Impact event provided attendees with insights into emerging trends and challenges faced by the industry. Experts shared their perspectives on topics such as cybersecurity, artificial intelligence, and sustainable technology solutions, equipping participants with valuable knowledge to navigate the rapidly evolving IT landscape. We would like to thank and congratulate our residents Endava, MGrinder, SelfTalk and Bully Entertainment for their insights and success stories.
The SUM IT UP 4 Impact event also served as a platform for exploring new trends and opportunities in the industry. Attendees had the chance to connect with leaders, experts, and entrepreneurs who are shaping Moldova's emergence as a global technology leader. Through the event's discussions and networking opportunities, participants shared experiences and established collaborative relationships that will further contribute to the country's IT sector growth.
As Moldova Innovation Technology Park continues to drive change and foster innovation, it is evident that the IT industry in Moldova is poised for even greater success. With support from both the public and private sectors, the country is rapidly becoming a regional technology hub, attracting talent, investment, and attention from around the world.
Moldova Innovation and Technology Park
