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Gruevski: Macedonia offers favourable climate for running businesses

20. October 2011. | 10:19

Source: MIA

Macedonia is a favourable country for running business acknowledged by the World Bank through its Doing Business report in which Macedonia for several years in a row is put on top of the list of reformers and favourable business destinations.

Macedonia is a favourable country for running business acknowledged by the World Bank through its Doing Business report in which Macedonia for several years in a row is put on top of the list of reformers and favourable business destinations.

Our breakthrough has been also noted on the Forbes list. We are continuously making efforts to improve the business climate and working conditions, both for domestic and foreign companies in an attempt to allow economic development of the private sector and opening of new jobs. This will generate double benefits - both for a firm management and for the standard of Macedonia's citizens.

This was stated by Prime Minister Nikola Gruevski in his address at the United Kingdom - Macedonia Investment Forum, which is being held in London. The PM invited UK companies to visit and examine Macedonia's business climate in order to put the country on their map as a destination for running business.

He voiced his hopes that the excellent political ties with London, underscored by countries' alliance within NATO in providing world peace and democracy, would be followed by an advanced economic collaboration, with which UK would contribute not only to the development of Macedonia, but also of the region of Southeast Europe.

"The Republic of Macedonia has made vital economic progress. A year prior to the global economic and financial crisis, the highest economic growth was registered as well as the biggest influx of foreign direct investments. Economic growth was also achieved amid the global economic crisis, even though it was significantly decreased as a result of objective reasons," PM Gruevski stated.

The latest European Commission report, he added, is an additional recognition of the manner in which Macedonia was dealing with the challenges of the current economic situation in the world, because Macedonia's macroeconomic indicators showed better economic growth and level of indebtedness compared to the region.

Macedonia has a stable macroeconomic policy and its financial legislation is enhanced. Its years-long macroeconomic stability records low inflation which is 2% averagely in the past decade, country's public fiances are balanced with low budget deficit, there is stable foreign exchange course and low public debt (26% of GDP).

Gruevski also presented the series of reforms carried out by the government related to the labour market and its measures to boost employment.

The GDP growth and foreign direct investments have come as a result and represent a confirmation of the overall reforms aimed at improving the business climate.

"Through the improved business climate and activities promoting Macedonia as a business destination, we have managed to attract well-known foreign companies, such as Johnson Controls and Johnson Matthey. Following its latest economic recovery, Macedonia in the past four moths has been experiencing a mini-investment cycle - Johnson Controls have just started construction of its second plant in Macedonia and there have been investments by Italy's Teknohose, the US company Kemet Electronics, Russia's Protek Group and Indian company Samvardhana Motherson. Furthermore, four technological and industrial development zones are operational in Macedonia, two in Skopje and the others in Stip and Tetovo," Gruevski informed.

"I would like to emphasise that Macedonia's top priority, in political and economic point of view, is the vision of being part of the great European and Euro-Atlantic family, which will be achieved by becoming part of NATO and EU, which would be of great importance for the region and beyond," the PM said.

The United Kingdom, he noted, is a leader of the global economic and political processes and it has played an important role in supporting the development of Southeast Europe, its democracy, society, culture and economy. "I hope our generation will resume the traditions of bilateral cooperation and mutual assistance," PM Nikola Gruevski said addressing the London forum.

At the forum, Gruevski held talks with vice president of the European Bank of Reconstruction and Development (EBRD), Jan Fischer, to discuss government's EBRD-backed projects and possibilities for future cooperation.


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