The Influence of Foreign Direct Investments on ICT Sector Development

Abstract

The world is moving from resource-based economy to knowledge-based economy. Today, ICT is the key driver for economic growth in developed and developing countries. At the same time, the development of the ICT industry, the increase in the volume of products and services produced, it is impossible without attracting investments in the sector. The issues of attracting investment in innovative sectors of the economy are of particular importance in developing countries that are limited in their own resources. This paper deals with the main aspects of the evolution of FDI in the ICT sector at the global level and in European countries, including Republic of Moldova, and investigates the different effects of their involvement, such as: the dynamics of the volume of products and services produced in the industry, the dynamics of exports of innovative products and services etc. The obtained results suggest the perspectives of national ICT sector further development, based on increasing of FDI in it. DOI: https://doi.org/10.53486/cike2023.46; UDC: 339.727.22:004(478); JEL: F21, G15, O3