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Macedonia's investment opportunities presented at Singapore business forum

30. November 2011. | 08:57

Source: MIA

Government delegation led by Prime Minister Nikola Gruevski took part Tuesday at a business forum in Singapore, presenting the investment opportunities and benefits offered by Macedonia before representatives of more than 50 companies.

Government delegation led by Prime Minister Nikola Gruevski took part Tuesday at a business forum in Singapore, presenting the investment opportunities and benefits offered by Macedonia before representatives of more than 50 companies.

PM Gruevski said in his address that lots can be learned from the Singapore "miracle" with regards to creating a highly-competitive economy based on know-how, i.e. the Singapore policy is famous for its excellent way of securing favorable conditions for business growth.

"This is what the reformatory government of the Republic of Macedonia has been doing in the past five years", stressed Gruevski.

According to him, the Government is proud from the enforcement of series of structural and institutional reforms, aimed at stimulating growth and flexibility for implementation of structural changes that Macedonia needs in order to succeed at international markets and adjust to the challenges related to EU accession.

Gruevski stressed that Macedonia has significantly reduced taxes and social contributions, whereas transparency and efficiency of the taxation system has been significantly enhanced, the Government said in a press release.

He added that benefits offered in technological-industrial development zones have resulted in the presence of U.S., British, Italian, Russian and other multinational companies.

PM Gruevski also referred to education, saying that Singapore prides itself with success in the development of human resources, taking into account the incorporation of basic education with continual lifelong training and enhancement of skills.

"Macedonia is also significantly increasing the education budget, which has reached six percent of the GDP in the past few years", he said.

Singapore Business Federation chairman Tony Chew Leong Chee also addressed the forum, positively assessing achievements of Macedonia's economy, urging Singapore businessmen to seriously review opportunities offered by Macedonia for their investment projects.

Vice Premier and Finance Minister Zoran Stavreski focused on Macedonia's macroeconomic achievements, elaborating potentials for investing in the country in the fields of road and railway infrastructure, as well as the energy sector.

Minister for Foreign Investments, Bill Pavleski, director of the Agency for Foreign Investments and Export Promotion, Visar Fida, and director of the Directorate for Technological and Industrial Development Zones, Viktor Mizo also briefed Singapore businessmen on Macedonia's investments benefits.

At the forum sidelines, PM Gruevski met with the Singapore Business Federation chairman and director of tour-operator "Universal Travel", focusing on possibilities for tourism cooperation and bringing Singapore tourists in Macedonia in coming years.

After the business forum, Gruevski met with Singaporean Prime Minister Lee Hsien Loong.

Both interlocutors at the meeting expressed content with PM Gruevski's visit to Singapore - the first one since the two countries established diplomatic relations in 1995, the government said in a press release. Gruevski informed the Singaporean Premier that the government of Macedonia, in addition to its strategic goals and foreign policy priorities in terms of EU and NATO membership, was interested in intensifying and improving its cooperation with countries in southeastern Asia, in particularly with Singapore. PM Gruevski praised the development of cordial ties between the two countries, expressing his belief that they would prompt boosted dynamics in several areas.

Later in the day, the Government delegation departs for Tokyo, Japan


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19. December - 25. December 2011.