Population: 2.574 million (2021) World Bank
Currency: Moldovan Leu (MDL)
Time: UTC+2 (EET), UTC+3 (EEST)
- Agriculture is the leading sector of the Moldovan economy, generating around 10% of the country's GDP.
- Incentives for investment include 7 Free Economic Zones, 10 Industrial Parks, 16 Multifunctional Industrial Platforms, a Digital IT Park, a Creative Centre, a Fashion Hub and a Media Technologies Centre.
- Moldova has a fiscal system for resident businesses, which provides fiscal and customs incentives for foreign investors.
- Moldova has Free Trade Agreements with the UK, EU, CIS, CEFTA, GUAM, and Turkey.
- Moldova has a well-established, thriving wine industry, with the highest density of vineyards in the world.
- The agricultural sector has significant potential in the production of fresh and processed fruit and vegetables, walnuts, and honey.
- Moldovan farmers are capable of securing large crops of clean, bio products. Emerging domestic organic farming creates more opportunities for organic fertiliser and pesticide markets.
- Moldova is gradually shifting to modern and capital-intensive farming, which calls for imports of yield improving technologies, and precision agriculture, utilising smart technologies and equipment.
- The government aims to revitalise the livestock sector, and stimulate animal husbandry, meat, and milk production. This creates opportunities for UK businesses that have gained a competitive edge in feeding systems, food technology and food safety.
Automotive and Electronics
- Key growth sectors. Production concentrates on cables, wiring harnesses for cars, injection moulding, electronic components, and systems.
- The industry is well integrated into global supply chains, with product shipping to the major vehicle producers. Automotive components made in Moldova are delivered to the largest producers of cars and trucks including Ford, Renault, BMW, Mercedes, Volvo, and Volkswagen.
- Moldova has an extensive Digital IT Park with a 7% tax on turnover.
- The volume of exports of IT products and services exceeded continues to expand rapidly, increasing 5 times in the last 5 years. As estimated 20% of the total export of IT services is delivered to the UK.
Digital Transformation and Cyber Security
- Moldova is committed to digitisation and fostering cyber security to create opportunities for solutions providers to support e-government, e-commerce, e-business, e-health, and online security.
- Moldova has a vast technical potential for renewable energy, wind being the most abundant renewable energy source. Deployment has been limited so far. Commitments to a greener economy will encourage investment in renewable energies and presents a strong opportunity for UK businesses.
To learn more about the UK’s trade relationship with Moldova, visit hereopens www.gov.uk in a new tab and contact EECAN.ExportHub@fcdo.gov.uk to discuss the opportunities in the region.