From factories to industrial parks: development trends and integration in the context of sustainable development

Abstract

Industrial assets represent a significant segment of the real estate and economic market in the Republic of Moldova. Due to economic and external factors such as inflation, the Covid-19 pandemic, and the uncertainty caused by the conflict in the neighboring country, there has been an increase in the number of properties not being used according to their intended purpose. This situation has created the need to reintegrate these assets into the economic cycle. In this article, we examine the necessity of developing industrial spaces from the perspective of their current use and the existing conditions for sustainable development and economic efficiency. We analyze the existing regulatory and legislative framework in the Republic of Moldova to evaluate the legal measures and tools required for restoring an old factory into an industrial park. Specifically, it is important to identify the conditions and facilities offered by current legislation that could contribute to optimizing conversion processes and attracting investments for the development of new economic activities in these areas. This approach offers the best solution, as it simultaneously addresses economic, social, and technological factors to promote the development of both the asset and the economy as a whole.