Within the regular program of the 2014 Global Economic Forum, Macedonian government team, headed by Prime Minister, Nikola Gruevski, presented the possibilities for doing business and investing in Macedonia
Skopje, 17th June 2014 (MIA) – At the Investment Forum held in Liverpool, dedicated to the possibility to invest in the Republic of Macedonia, organized within the regular program of the 2014 Global Economic Forum, Macedonian government team, headed by Prime Minister, Nikola Gruevski, presented the possibilities for doing business and investing in Macedonia to the British and the international companies.
At the Forum, held in cooperation with the “Financial Times”, Prime Minister Gruevski addressed the investors and talked about the tax incentives as a strong comparative advantage of our country, pointing out that the most favourable package of flat and low taxes was introduced, as well as that procedure for their reporting and payment was simplified. Profit tax and personal income tax rates are only 10%, being among the lowest in Europe, whereby retained and reinvested profit, not being distributed as dividend, is also tax exempted.
– Prime Minister Gruevski underlined that investors in the technological and industrial development zones are offered exemption from personal income tax and profit tax for a period of 10 years and exemption from municipal fee for arranging construction land, as well as from fees for obtaining construction permits. The land is given under long-term lease under favourable conditions for a period of up to 99 years, Government Press Office informed.
Gruevski highlighted that in the recent period, besides having reputable companies, operating in many important industrial spheres, come to the country, some of them have already decided to reinvest their profit by opening another capacities and factories, thus affirming the successful business story of Macedonia. He also talked about the investments in capital infrastructure projects, such as the construction of new highways, commencement of the construction of the railroad tracks towards Bulgaria, as well as the reconstruction of Corridor 10.
Deputy Prime Minister and Minister of Finance, Zoran Stavreski, presented the main macroeconomic indicators of Macedonia at the Forum, underlining the stability of the exchange rate, the low inflation and the increased export to major EU Member States.
– He paid attention to the reforms aimed at facilitating the business, such as the regulatory guillotine, a project that has significantly contributed to reducing bureaucracy and regulatory burden on the companies by simplifying the procedures for obtaining licenses, permits, approvals and other formalities, as well as by reducing the fees up to 50%. As stated in the press release, Stavreski also pointed out the established electronic system for payment of taxes and obtaining customs licences, as well as the e-Real Estate Cadastre, which now covered 99% of the country’s territory.
According to the Technological and Industrial Development Zones CEO, Viktor Mizo, Macedonia offers incentives to the foreign investors in the industrial zones. Such dedication, as Mizo pointed out, has contributed for more multinational companies to make decisions to invest in Macedonia, as the British company Johnson Matthey (with two facilities in Skopje), American companies “Johnson Controls” (with facilities in Skopje and Stip), “Kemet Electronics” and “Amphenol”, German companies “Kromberg & Schubert” and “Dräexlmaier”, Belgian company “Van Hool”, Italian “TeknoHose” and several other facilities. Other companies also show interest in the possibility to invest in Macedonia, Mizo underlined.
As “Worldwide-FDI” CEO Richard Parsson said, it is extremely important that British investors have the opportunity to learn directly from top state officials about what Republic of Macedonia has to offer. Hence, he pointed out, they are informed that Macedonian economy advances well in many areas, and, according to him, it is an important fact to encourage investors to see Macedonia as a place where positive business and investment results can be achieved.
Executive Director of “Euromax”, Steve Sharp, noted that he was pleasantly surprised by the turnout and attendance at the Forum.
– We have first-hand experience on what a pleasant place for investing Macedonia is. I dedicate much of my time to tell people how good it is to invest in Macedonia. We are there not only because of the natural resources, but also because we have found a friendly and pragmatic support extended by the Macedonian Government, hence it is one of the best places to invest in,” Sharp said.
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