25th September 2020, Skopje – “United States of America are one of the most important strategic partners to the Republic of North Macedonia. Excellent political relations between the two countries are to encourage and deepen the economic cooperation in near future. We expect increased level of direct investments from the USA in the coming period, which will provide for job creation for highly educated personnel and export of higher value-added goods”, stated the Minister of Finance, Fatmir Besimi, at todays’ official meeting with the Ambassador of the United States of America, Kate Byrnes, accompanied by the USAID North Macedonia Country Representative, Eric Janowsky.
So far, the USA have invested, through the United States Agency for International Development (USAID), around US 649 million in the country, above all in policies aimed at economic growth and strengthening the democratic practices and institutions. Both countries have also concluded Development Objective Agreement, the goal of which is accelerated growth of the private sector, greater inclusion and informing of the citizens about the decision-making processes, encouraging good governance and strengthening the social cohesion.
Minister Besimi underlined that he recognizes opportunities to intensify the cooperation in new projects which are to create a new value added.
– Reforms in the areas of good governance, ensuring sustainable growth, encouraging competitiveness, strengthening the human resources and digitalization of the economy are the key to boosting economic growth in both the medium and the long term. This should contribute to economic growth accelerating from 2.6% in the past decade to 4% up to 5% average annual growth in the coming period. Such ambitious goal also indicates strategic planning and execution of the Budget, which we are going to attain by introducing SMART finances. Within this system, and by measuring the key indicators, performance of capital investments will be monitored, as well as the economic policies and reforms, the Minister underlined, adding that as regards the digitalization, there are great cooperation opportunities with the USA, considering that large number of Macedonian IT experts have been already cooperating with IT companies from the USA.
He thereby informed the Ambassador that fourth set of targeted measures is being prepared at the moment, as part of the economic plan to manage the health and the economic crisis, and part of the measures will be redesigned in order to increase their efficiency.
Minister Besimi expressed gratitude to the Ambassador for the long-standing continuous support the USA extends to North Macedonia
Ambassador Byrnes congratulated Besimi on his election as a Minister of Finance, wishing him success in his new duties, affirming the commitment for further support by the USA as a strategic partner. The Ambassador pointed out that, now, as a NATO member state and with commenced EU accession negotiations, our country becomes a more attractive investment destination, creating perspectives for a faster economic growth. To that end, she said that rule of law and fight against corruption will be the key factors in improving the business climate and achieving the strategic goals for faster, sustainable and inclusive growth.
They both agreed that managing the health and the economic crisis is of key importance at the present circumstance, alongside with maintaining the macroeconomic and the financial stability, which will contribute to accelerated and sustainable growth in the long run.
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