Information technology has become a branch of the Moldovan industry that sells not only domestically but also internationally, contributing to the state budget more than wine exports, said Economy Minister Sergiu Gaibu during the presentation of the Country Report 2021 “EU4business - together for business recovery”, developed under the auspices of the European Union Delegation in cooperation with the Brussels-based Secretariat of this business support arrangement for the Eastern Partnership countries.

The digitization of the economy can become a pillar for growth, the minister noted, citing the example of Ireland and Estonia, which have managed to turn challenges into opportunities and added value. At the same time, he emphasized that if we want to keep up with the world, the economy must emerge from the ossified paradigms that are several decades old, it must be oriented towards modern products that didn’t exist in the past, but are relevant today. Last but not least, this approach also involves training. Young people need to be provided with the knowledge that will help them access well-paying jobs.

Another message of the event was to show the opportunities of support that small and medium-sized enterprises (SMEs) can receive from the European community. In 2020, the EU4business portfolio included 30 active projects, with a total budget of 172.7 million euros, up by about 19 percent compared to the previous year. The program has had a significant impact especially considering the pandemic, which has required resilience and flexibility. The turnover of the EU-backed companies fell by 1.9 percent, but the situation is twice as good as the national average. At the same time, the number of jobs in the EU-supported groups increased by more than 25 percent, while almost 4 percent of jobs in the country were lost.