Macedonia a business haven, says minister

ISTANBUL

Macedonia is a country that links Europe to Asia, offering great business opportunities, said Jerry Naumoff, the state minister responsible for the foreign investments of the Balkan country, while addressing attendees at the Eurasian Economic Summit on April 8. 

“Macedonia is a perfect gate to Europe,” he said in a special session, where the Silk Road was discussed within the concept of energy and the economy. 

“It is the country with the least operational costs across Europe,” he said, defining Macedonia as “a business paradise in Europe.” 

Quoting the International Finance Corporation’s Ease of Doing Business Ranking released on Oct. 29, 2014, Naumoff said Macedonia ranked third in the world and first in Europe in the category. 

Both wages and taxes are low in the country, the minister said, while promoting the well-trained and talented workforce, mainly consisting of youth. 

There are empty 400 factories that have remained idle since being taken over by Macedonia from the former Yugoslavia, the minister said, calling on investors to assume control of these plants instead of building new ones. 

The country was barely affected by the economic shrinkage across Europe, Naumoff said. 

 “We have a sustainable political life and we work in a safe macroeconomic system. We are a small country but we have free trade deals with all countries in Europe. Turkey and Ukraine are included,” he said, adding that the country considers no projects as “too small.” “Small- and medium-sized enterprises can come to us with no hesitation.”

Along with a skilled, educated and available workforce, the minister listed constitutional guarantees, tax-free zones, available commercial buildings, infrastructure, good location to access customers and financial incentives as the main reasons to invest in Macedonia. 

A Macedonian mission accompanied President Gjorge Ivanov on his visit to Istanbul for the 18th Eurasian Economic Summit.