Call for Expressions of interest for EU/EEA/Moldova based businesses to invest in the Republic of Moldova

1. Purpose of the Call

Moldova’s strategic path toward EU Integration

Moldova is building the foundation for its integration into the European Union’s Single Market — not only through legal alignment, but by upgrading its infrastructure, energy systems, digital services, institutions and the agri-food sector. These efforts are not isolated reforms, but part of a strategic objective to position Moldova as a future EU member and a key link in Europe’s economic and logistics networks.

A favourable environment for strategic investment

While support for private sector development has so far focussed on access to finance for SMEs, this will now be complemented by a strategic approach aimed at attracting and supporting strategic investors. Moldova offers direct infrastructure connections to Romania and Ukraine, free access to the EU market, and a skilled labour force. The government is committed to a rules-based, business-friendly environment, backed by technical and financial instruments supporting investments.( see: Invest - Invest Moldova)

Reform and growth commitment

Under the Moldova Growth Plan and the EU-funded Reform and Growth Facility, the country is implementing more than 150 reforms between now and 2027 to improve competitiveness, simplify procedures, and align Moldova’s economic system with EU norms. 
Link: Planul de creștere al Republicii Moldova 2025-2027 – Ministerul Dezvoltării Economice și Digitalizării

Digital transformation and ICT sector

More than 80% of entrepreneurs interact digitally with the state, and over two-thirds of public services for businesses (e.g., permits, tax, and customs) are digitalized. This digital transformation is underpinned by high-performance infrastructure. The country has 90% gigabit internet coverage, 86% fixed broadband penetration, and 89% mobile broadband usage. Moreover, Moldova has positioned itself as a regional digital leader. The single-tax regime for IT firms has been extended until 2035, supporting a sector that now contributes over 7% to GDP—ranking Moldova 7th in Europe by ICT share and outperforming several traditional industries.

Industrial policy and manufacturing 

Moldova has launched a new State Aid Scheme for Industrialisation to support high-value manufacturing. In parallel, multifunctional industrial platforms are being developed to attract investment and foster value-chain integration. To further streamline investment processes, the government will introduce a national Investment Map and set up a dedicated one-stop shop for strategic projects.

Logistics, transport infrastructure and air connectivity

Moldova is strengthening its role as a strategic logistics hub. The Berești multimodal terminal near Ungheni, just 5 km from the Romanian border, is expected to become the country’s first large-scale logistics platform—capable of handling both broad- and European-gauge rail wagons and accommodating up to 200,000 trucks annually. Once operational, the terminal will reinforce the country’s integration into European transport and supply chains. In parallel, the country is modernising key rail and road corridors along the TEN-T network. A dedicated program is also under way to restore major bridges and border infrastructure, essential for trade and safe mobility. Feasibility study for the Ungheni–Chișinău–Odesa is expected by the end of 2025. Finally, air connectivity is also improving. Chișinău International Airport recorded a 46% increase in passengers in 2024 compared to 2023, while Mărculești International Airport is being transformed into a regional hub for cargo and seasonal passenger flights.

Energy security and market integration

In the energy sector, Moldova aims at achieving a higher degree of energy resilience, energy security and self-reliance and is taking concrete steps toward integration with the European market. The country is preparing for electricity market coupling with the EU, supported by the construction of three 400 kV interconnectors with Romania and synchronisation with ENTSO-E. The support for major infrastructure projects like the electricity interconnector with Romania and the development of stable generation capacity will be reinforced through implementation of an investment pipeline supported by the EU and International Financial Institutions. Moldova is advancing an ambitious renewable energy agenda, simplifying permitting procedures and accelerating investment in solar, wind, and biomass. These efforts go hand in hand with reforms to unbundle the gas sector, modernize storage infrastructure, and ensure transparent, market-based operations.

Governance, labour, and capital markets

Efforts to strengthen competition policy and reform State-Owned Enterprises (SOEs) are ongoing, aiming at privatising a number of companies and continuing with the corporate governance reform and restructuring in other SOEs. Moldova is enhancing skills of its labour force including through improved vocational education and training. It is also making progress on faster court procedures and improved access to justice. On the financial side, Moldova joined the Single Euro Payments Area (SEPA) in March 2025 — a key step toward deeper financial integration with the EU. The country also aims to develop its capital market and is preparing to open up to the Bucharest Stock Exchange, with plans to establish a joint market infrastructure that will support the integration of Moldova’s capital market with EU standards.

EU support instruments and call for investment proposals 

The EU has several instruments which can facilitate investments of the private sector in Moldova. In particular, the European Fund for Sustainable Development Plus (EFSD+) offers some derisking opportunities through budgetary guarantees to partner International Financial Institutions and development banks, and where necessary grants for investments with wider public benefits.

More specifically, EU guarantees make it easier for International Financial Institutions, development banks and also private co-investors to provide loans or other financing for investment projects, at favourable conditions. EU guarantees can support a range of financing modalities, including debt, equity and portfolio guarantees for banks’ lending to the private sector. In addition, the EU also finances technical assistance support for investment preparation. 

To support the implementation of the EFSD and European Fund for Sustainable Development Plus (EFSD+), the optimal use of the available funds for priority projects and the participation of companies, the European Commission is launching a Call for Expressions of Interest for EU/EEA/Moldova-based businesses to invest in the Republic of Moldova in line with EU strategic areas of interest and policy priorities. 

2. Objective of the Call for Expressions of interest

The objective of this Call for Expressions of Interest is to enter into a dialogue with private companies on concrete investment opportunities and related constraints in the Republic of Moldova. Based on relevant assessment criteria, subsequent contact with partner Financial Institutions may be facilitated for potential financial cooperation. This dialogue is aimed at building a pipeline of transformative private investments in the Republic of Moldova that could be potentially supported by the European Commission with its available instrument 

This Call invites EU/EEA-based and Moldova-based companies to submit project proposals for new investments into the Republic of Moldova’s real economy. Participation in this Call does not constitute any form of partnership, joint venture, or other legal relationship between the Participant and the European Commission. It does not constitute any guarantee of financial support neither from the European Commission nor any partner Financial Institutions. The publication of this Call for Expressions of Interest also does not commit the EU to finance the project investment proposal.

All project proposals presented to the European Commission will be assessed based on the criteria outlined in this Call and will be treated equally, ensuring a fair and transparent assessment process. All information submitted as part of the project proposal will be treated confidentially and used solely for the purposes of evaluating the proposals in accordance with the criteria specified in this Call. 

The priority areas of the Call will be based on the Growth Plan for the Republic of Moldova (Planul de creștere al Republicii Moldova 2025-2027 – Ministerul Dezvoltării Economice și Digitalizării) and Strategic Orientations of the EFSD+, outlining key real economy sectors requiring Investments including but not necessarily limited to:

(i) Energy

Develop distributed sustainable energy solutions, including renewable energy, balancing projects and modernisation of existing energy infrastructure as well as energy efficiency solutions. Moldova is accelerating its energy transition through investments in distributed, sustainable energy solutions—ranging from renewable generation and now aiming for energy storage to the modernisation of critical infrastructure and energy efficiency upgrades to the buildings. Strategic priorities include the development of new electricity interconnectors, reinforcement of the national transmission and distribution grid, and the recently achieved unbundling of the gas sector to ensure energy security and supplies diversification. Moldova is also focused on enabling decentralised energy production and prosumer models, supported by simplified permitting processes and new support schemes for renewables that applied net billing mechanism. Public and residential building renovations offer significant opportunities for energy efficiency investments. Thanks to Moldova’s new Energy Sandbox Law, investors can now pilot innovative green technologies, services and processes in a flexible regulatory environment.

(ii) Agriculture, agri-food industry, and rural development

Moldova emerges as a trusted agri-food supplier to the EU, particularly in premium quality segments. With government efforts focused on expanding irrigation infrastructure and modernising production, targeted investments are set to accelerate innovation, enhance productivity, and support the shift toward sustainable, high-value agriculture—especially in wine, fruit, and horticulture. Attractive investment opportunities lie, among others, in vertical integration, off-taker arrangements, and the modernisation of livestock and diary production, food processing and packaging value chains. The upcoming Agrotek Park will serve as a national hub for smart agriculture, agri-tech, and bioeconomy solutions—fostering research and the adoption of advanced technologies in farming. Moreover, with income from tourism having doubled over the past four years to reach €700 million, and improved international air connectivity, Moldova offers significant opportunities in eco-resorts, balneological centers, hotel infrastructure, and MICE (Meetings, Incentives, Conferences, Exhibitions) development. 

(iii) Advanced manufacturing and industrialisation 

Moldova is accelerating the modernisation of its industrial base, shifting from low-value assembly toward integrated, export-oriented manufacturing. Backed by the new National Industrialisation Plan, six strategic sectors—electronics, pharmaceuticals, automotive components, textiles, chemical products, and construction materials—are eligible for targeted support through a Regional State Aid Scheme that covers up to 75% of investment costs (60% for mid- to large-sized firms). Recent progress in electronic components, smart metering, and e-mobility points to growing potential in modern manufacturing facilities, quality assurance systems, and digitally integrated production lines. This transition is further reinforced by opportunities in clean technologies—including recycling and materials recovery linked to national waste management reforms—as well as in the production of energy components for the green economy. Investors can also explore innovative technologies, where Moldova’s growing tech base and strategic geography create a platform for scalable solutions in both civil and security applications. Having a 1,222 km border with Ukraine, Moldova is well positioned to play a meaningful role in regional logistics and post-war reconstruction. Its border regions offer natural platforms for industrial operations tied to reconstruction supply chains, particularly in building materials, construction services, and design engineering. These sectors serve both Moldova’s domestic infrastructure ambitions and the urgent rebuilding needs just across the border.

(iv) Information technology, digital innovation, and applied research

Moldova is home to Europe’s first fully virtual IT park which currently hosts over 2,300 companies from 45 countries. The park’s ecosystem is expanding, with growing investor interest in enterprise software, artificial intelligence, deep tech, and creative industries such as animation and game development. This is due to one of the region’s most competitive fiscal regimes: a 7% single-tax rate for IT companies, guaranteed until 2035; VAT exemptions for export-oriented services; and targeted incentives for R&D activities. These are complemented by a national startup fund (over €1 million) and a forthcoming Fund of Funds to catalyse private equity and venture capital flows into Moldova’s innovation ecosystem.

Moldova is launching two new innovation districts: (i) the Moldova HiTech Park, focused on AI, deep tech, and enterprise software; and (ii) the Agrotek Park, specialised in smart agriculture and green innovation. Both parks will serve as dynamic entry points for early-stage investors, R&D partnerships, and commercialization of emerging technologies. Moldova’s broader digital transformation is also unlocking cross-sector investment opportunities, with growing activity in BPO and IT-enabled services, cybersecurity, data infrastructure, and GovTech. The country is developing its national broadband coverage, digital platforms, and interoperability tools——creating new possibilities in smart product development, supply chain digitalization, and off-taker agreements.

Applied research is becoming a core pillar of Moldova’s innovation strategy. The government is expanding research infrastructure through shared labs, modernized university and vocational school facilities, and technology transfer platforms designed to bridge academic expertise with business needs. These initiatives align with the Smart Specialisation Strategy 2024–2027, which identifies agriculture and food processing, ICT, energy efficiency, biomedicine, and labour market-aligned skills as Moldova’s strategic innovation priorities.

(v) Infrastructure and connectivity: transport, logistics and digital systems

Moldova is rebuilding and modernising its infrastructure through a dual-track effort that targets both physical and digital connectivity. This integrated approach—covering transport, logistics, broadband, and digital systems—is a core part of Moldova’s EU accession agenda and is backed by strategic reforms designed to attract investment and align with European standards. In cooperation with the Transport Community, Moldova is also drafting a package of legal acts to approve and transpose its National Intelligent Transport Systems Strategy which will accelerate the digitalisation of mobility and strengthen connectivity across the entire transport system.

Roads, railways, bridges, and customs infrastructure are undergoing accelerated upgrades. Moldova’s national road and rail networks are now formally integrated into the EU’s Trans-European Transport Network (TEN-T), ensuring compatibility with EU core and comprehensive transport corridors. Major rail segments along the North–Center–South corridor are being rehabilitated with EU support, and a prefeasibility study is advancing for the modernisation and electrification of the Ungheni–Chișinău section—crucial for future integration with Romania and the EU network. Moldova is also rapidly aligning its transport legislation across all modes (road, rail, air, and maritime) with the EU acquis, providing legal certainty for investors operating under EU-standard rules.

Strategic investment entry points are also emerging. The Berești multimodal logistics hub, located just 5 km from the Romanian border, is positioning Moldova as a key transit node between East and West. The Giurgiulești Free Port is undergoing expansion via a global investment tender, and with EU support, Moldova is conducting a feasibility study for a new logistics hub in Chișinău to enhance its role as a regional distribution center. These developments open up private capital opportunities in freight terminals, integrated warehousing, last-mile distribution, and customs-linked infrastructure. Moldova’s participation in the EU’s Connecting Europe Facility (CEF) provides access to targeted funding for strategic border infrastructure projects aligned with EU regulations.

In parallel, Moldova is advancing its digital connectivity systems. Reforms include broadband rollout in underserved regions, the creation of 5G-ready transport corridors, and the integration of customs and logistics platforms into national e-government systems. These reforms generate new opportunities for private investment in secure digital infrastructure, real-time supply chain monitoring, and smart mobility services that complement the country’s physical logistics backbone.

(vi) Health, life sciences, and digital health innovation 

Moldova’s pharmaceutical and healthcare sectors are undergoing strategic transformation, backed by regulatory modernisation, industrial policy, and a growing digital health agenda. The 2025 Law on Medicines has established the legal framework to strengthen regulatory oversight, streamline access to essential medicines, and enabled broader participation in clinical trials—helping align Moldova’s pharmaceutical system with EU standards and creating space for innovation and international investment. The government is also prioritising the development of local pharmaceutical manufacturing and supply chain diversification. Moldova’s pharmaceutical market is projected to grow at a compound annual growth rate (CAGR) of 3.22% through 2029, driven by regulatory upgrades and rising demand for high-quality, affordable medicines. 

Alongside pharma, healthcare infrastructure modernisation is gaining momentum with EU and IFIs support. Investment opportunities span the construction and renovation of hospitals, clinics, and diagnostic centers, with a new emphasis on environmentally sustainable medical infrastructure that aligns with Moldova’s climate change and green public investment commitments. Digital health is a central pillar of Moldova’s reform path. Following the rollout of a national e-prescription system in 2025, upcoming investment prospects include the deployment of electronic health records, telemedicine platforms, data-driven diagnostics, and interoperable IT systems. Meanwhile, Moldova is emerging as a competitive medical tourism destination, with over 36,000 international patients annually. The country attracts growing interest for high-quality dental care, aesthetic surgery, fertility treatments, neurology, and post-operative rehabilitation, offering an attractive mix of affordability, expertise, and quality service delivery. Several cross-cutting reforms under the Growth Plan Reform Agenda, including in digital public services, procurement modernisation, and public investment management are laying the groundwork for stronger private-sector involvement in health and life sciences and will support long-term investment in hospital infrastructure, diagnostics, and local pharmaceutical production.

3. Criteria

Eligibility Criteria

To ensure a structured and transparent assessment, the following criteria will be used for evaluating the eligibility of project proposals:

• Geographic Area: Republic of Moldova (investment taking place on the territory of the Republic of Moldova).
• Private Sector: Eligible Participants to the Call shall be private enterprises, joint venture or consortium of companies, possessing a valid VAT registration number (note: Entities without a valid VAT registration number will be excluded from this Call for Expression of interest). Entities listed in the Early Detection and Exclusion System (EDES) (^[1]) data base are excluded from this Call for Expressions of Interest. If the project is conducted by a consortium, the consortium leader must be based in the EU or EEA or Moldova.
• Nationality of Private Entity: EU/EEA-based businesses (companies possessing their real legal seat / legal incorporation in one of the EU Member States /EEA countries) as well as Moldova-based businesses. For the avoidance of doubt, ‘real legal seat’ must be understood as the place where its managing board and central administration, or its principal place of business, are located.
• Alignment with Policy Priorities: Projects should focus on the Republic of Moldova's real economy sectors and support diversification and competitiveness of the Moldovan economy in line with the Growth Plan for the Republic of Moldova ( Planul de creștere al Republicii Moldova 2025-2027 – Ministerul Dezvoltării Economice și Digitalizării) as well as with the National Development Plan published on 19 May 2025 (nu-195-cs-2025.pdf).
• Minimum Investment Size: Projects must meet a specified minimum investment threshold, including a total size of the investment project at EUR 10 million and an own equity participation by the project promoter at 15% of the total value of the investment project. 

Assessment Criteria:

The following strategic, impact and financial criteria will be used to assess the project investment proposal:

Strategic Criteria

• Alignment with EU policy objectives and priority areas for investments in the Republic of Moldova.
• Ownership of the company in view to support EU open strategic autonomy.
• Compliance with EU standards and adherence to the Do No Significant Harm Principle.

Impact Criteria

• Impact of the project proposal on supporting EU and Moldova strategic interests, including socio-economic development and green transition, taking into account risk assessment and mitigation measures.
• Replicability and scalability of the project proposal.
• Innovative features of the project proposal.
• Capacity of the Participant to mobilise private capital to finance the proposed investment (relevant experience in the specified sector, and particularly in the Republic of Moldova or other countries from the Eastern Partnership, will be regarded as an advantage).
• Market assessment and how the project proposal addresses market failures.
• Employment perspectives stemming from the investment
• Contribution to the diversification, value creation and reinforcement of the competitiveness of the Moldovan economy.

Financial Criteria

• Financial viability, including financial needs and investment plans reflecting the scale and scope of the project.
• Maturity of the proposal.
• Investment capacity: Participants must demonstrate that they can finance through equity at least 15% of the total cost of the project.

[1]  EDES - European Commission.

4. Submission of Projects

Interested companies are invited to submit their project proposals through the designated EU expressions of interest form through the EU Survey link, which will be published in September. Each proposal should include the following documents:

1. EU Transparency Register number and VAT.
2. A short project fiche to be uploaded by Participants in the EU Survey, detailing the key elements of the project, including the scope, objectives, timeline, investment size, impact and expected outcomes, innovation aspects, maturity of the project, risk assessment and mitigation measures, financial structure of the project proposal, alignment with EU priorities.
3. A document presenting the governance and detailing the ownership structure of the company, indicating the nationality of shareholders holding more than 10% (and of its consortium members, if any).
4. Any other relevant documents to ease the assessment of the project.
5. The Declaration on honour on exclusion criteria and selection criteria enclosed in the EU Survey.

Proposals, all correspondence, and documents related to this Call exchanged between Participants and DG ENEST must be written in English. Supporting documents and printed literature furnished by the Participants may be in another official language of the EU, in which case accompanied with a legally valid translation into English. 

5. Timeline

The submission portal for this Call for Expressions of Interest will be opened in early September 2025 for a period of 8 months. Proposals will be evaluated on “a first come, first served basis” through evaluation Committees that will be convening every two months starting from November 2025.

The European Commission will provide information about the outcome of the assessment process and may subsequently facilitate contact with partner Financial Institutions. Participants may submit requests for clarification regarding this Call for Expressions of Interest. Requests for clarification should be submitted in writing to: ENEST-A3ec [dot] europa [dot] eu (ENEST-A3[at]ec[dot]europa[dot]eu). Please ensure to refer to this Call in the subject of your request. Clarifications will be published on this EU Survey. The survey will be updated regularly, and it is the company’s responsibility to check for updates and modifications during this period. 

Participants will be notified of the outcome of this assessment by e-mail. The notification will be sent to the e-mail address provided in the EU survey. It is the Participant’s responsibility to provide a valid e-mail address and to check it regularly.

6. Disclaimer

We recall that all documents in the possession of the Commission may be subject of a request for access to documents (^[2]). However, it is established practice to always consult the author document regarding the possibility of an eventual disclosure. DG ENEST may refuse to provide access to the submitted information, the disclosure of which would undermine the protection of commercial interests of the company, including intellectual property. 

We encourage Participants to clearly mark and explain which information they consider confidential. Please note that general statements claiming confidentiality for the entire proposal or substantial parts of it will not be considered. The EU reserves the right to make its own assessment of the confidential nature of any information contained in the proposal, always after consultation with its author.

Personal data will be processed in accordance with the applicable data protection rules and the Privacy Statement, which is available in the EU Survey. 

[2]   Regulation (EC) No 1049/2001 of the European Parliament and the Council regarding public access to European Parliament, Council and Commission documents.