Nova Poshta LLC plans to increase investments in the Moldovan market to $880,000 in 2024, which is 4.5 times more than the volume of such investments in 2023, the company's press service reported on Wednesday.

"The bulk of the investments will be directed to expanding our network, renovating branches, automating workplaces, updating the IT infrastructure and increasing the fleet of vehicles for courier delivery," said Serhiy Shapran, CEO of Nova Poshta in Moldova.

In addition, in 2025, Nova Poshta plans to create a new sorting hub in Moldova, where business clients will be able to use fulfillment services.

According to the company, over 10 years of operation in this country, Nova Poshta has entered the top three fastest deliveries in Moldova, built a network that includes 21 branches, 261 parcel terminals and three sorting terminals.

In addition, it was the first on the Moldovan market to launch parcel pick-up points based on existing businesses: stores, gas stations, etc. Currently, there are 53 pick-up points in Moldova, and the company plans to further expand their network.

According to the report, in the first half of 2024, Nova Poshta in Moldova delivered 1.1 million parcels - almost as many as for the whole of 2023 (1.2 million) and paid 12.5 million lei in taxes to the local state budget of this country.

Nova Poshta in Moldova delivers parcels from marketplaces in China, America, Ukraine, as well as to/from Romania.

The company is also working on integrating Moldova into the Nova Post Europe system, which will allow customers to send and receive parcels from 13 European countries.

In the first half of 2024, the company delivered 771,000 international parcels against 590,000 for the whole of 2023.

As reported, Nova Poshta increased its consolidated net income by 22.6% in the first half of 2024, to UAH 24.45 billion, while the company's consolidated net profit decreased by 36.9%, to UAH 1.48 billion.