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Get to Know About Moldova
Moldova is a landlocked country in Eastern Europe. It shares borders with Romania and Ukraine. A republic country, Moldova has an area of 33,846 square kilometers and is home to an estimated 2.7 million people.
Even though it is one of the ‘poorest’ countries in Europe, Moldova is still a developing state with an HDI of 0.700. Additionally, the GDP (PPP) of $27.271 billion is high for the size and population. The per capita income is $7,700, which, of course, doesn’t sound a lot on the first glance for a European country, but it is fair. Living cost in Moldova is not as expensive as other nations in the continent. You can rent a room for as little as $150 per month and an average taxi ride costs between $2 to $4.
Moldova is an excellent place for investors. The government has been bringing various incentives to put the country in EU standards. Well, it is not already a part of the EU, but the nation has excellent relationships with Romania, a member state. The corporate tax rate of 12% is one of the lowest in the world. The literacy rate is close to 100%, so you get a cheap but very abled workforce. Numerous Free Trade Zones and the ever-growing ICT industry also contribute to the advantages of doing business in Moldova.
However, there are still some challenges. Corruption is high in Moldova, and people have been complaining of ‘illegal businesses.’ The poverty rate is 11.4%, and pollution is a problem. Apart from that, Moldovans are also known to be one of the heaviest drinkers in the world.