The article emphasis on the main security issues, risks and vulnerabilities, Republic of Moldova has confronted since the proclamation of the Independence in 1991. In this respect, the authors make an analysis of the Concept of National Security of Republic of Moldova from 1995 in comparison to the new project of the Concept of National Security of Republic of Moldova from 2006. Taking into account the importance of dividing between hard and soft security risks, the authors propose to distinguish what are the main internal vulnerabilities and the external security risks Moldova is confronting with in the last decade. The first step to solve some of these problems, in the opinion of the researchers, is to make a clear hierarchy of those. In the conclusions, authors propose theirs own prioritizations of the main vulnerabilities and security risks according to the criteria’s of the Copenhagen Security School.