This is a best prospect industry sector for this country. Includes a market overview and trade data.
Overview
The automotive components industry is the fastest growing sector of the Moldovan economy in recent years. This is due to an increased focus on the unused industrial potential of Moldova and an industrial production focus in Moldova’s education system (Technical University, technical colleges and vocational schools.) Moldovan workers have expertise in a variety of areas, ranging from TV set production to heavy machinery.
Some foreign investors prefer to locate operations in Moldova’s Free Economic Zones (FEZ). Investors include: Lear Corporation, Dräxlmaier Automotive, Gebauer & Griller, Sammy Cablaggi / Kablem, Elektromanufacturing, Confezioni Andrea Covercar, LEONI, SEBN Sumitomo Electric Bordnetze, Fujikura Automotive, Coroplast Fritz Mueller, and APM Automotive.
Leading Sub-Sectors
Production of cables, wiring harnesses for cars, car seat covers, plastic molding injection, metal processing, electronics and electronic components, and assembling.
Opportunities
Free economic zones and industrial parks, where most automotive component businesses are situated, offer the best location for production facilities. Production sites located in these zones enjoy tax incentives and government guarantees. Geographical proximity and Free Trade Agreements with EU and CIS countries makes logistics fast, easy and reliable in all markets. Moldova has a competitive and well-educated labor force. It also has the lowest labor costs in the region.