Investors in the IT sector are likely to work in Moldova, without needing a temporary residence permit. The Moldovan Parliament voted for such a bill in the first reading.

It was proposed by speaker Andrian Candu, and aims at eliminating barriers in the way of the foreign investors.

The Parliament President says the procedure of the obtaining the stay permit is difficult and bureaucratic: "Moldova should become a regional IT hub namely by its possibilities of attracting experts, investors and we need to cut the red tape relating to residence and work procedures.”

The provides for allowing foreign managers and specialists to work half a year, on the basis of their passport only, as three months are envisaged for investors.

"According to the calculations made by the Economy Ministry and the Government, we can become more innovative and competitive than other states in this area. It’s the field in which we can achieve big results, big success, very quickly," Andrian Candu said.

The Cabinet develops bills to offer similar privileges to other categories of foreign investors and employees.