Establishing a knowledge-based economy and the transition from resource-based to an innovation-based economy, which Republic of Moldova opts for, requires changing the approaches of the regional economic development and reconsidering the research-development and innovation system to turn it into an important progress factor. This paper analyses the innovation potential of the country, the dimension of the research-development sector and its impact on the economic development, the research-innovation policies, highlights the existing shortcomings and argues the need of a strategic approach for economic development through the support of research and innovation. A key solution is the implementation of the smart specialization concept based on the European experience, which has been widely applied in the community countries and has proved its viability and necessity. Smart specialization strategies have become a key element of the European Union’s cohesion policy and an ex-ante condition for accessing structural funds. The implementation of these strategies contributes to the economic growth and an efficient use of resources.