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Macedonian investment opportunities presented at forum in New York

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An investment promotion team led by Deputy Prime Minister Vladimir Pesevski including Minister for Attracting Foreign Investments Vele Samak and Director of free industrial zones TIRZ Viktor Mizo participated at business forum in New York where favorable conditions for doing business in Macedonia were presented.

During the forum, organised in cooperation with Forbes magazine, Pesevski pointed out favorable conditions for doing business underlying the satisfying business climate in the country referring to benefits for the foreign companies as lowest tax package in Europe and stable macroeconomic environment. He also referred to government’s efforts on strengthening investments potentials and current reforms in state institutions, education and infrastructure aimed at improving the conditions for doing business and providing bigger development of the Macedonian economy.

The organizing of business forum in New York, which one of the main economic centers in the world, according to Pesevski is of great importance for attracting new foreign investors in our country taking into consideration the fact that American companies have huge potential for expansion of their production and some of them have already invested in our country.

“We have pointed out the opportunity not only for investments in the sphere of production but also in the rest of service sectors because we are continuing the development of this concept of free zones and in the sphere of information technologies, tourism and health sector. I can say that the interest was satisfying during and after the presentations and I believe that some of the companies will visit Macedonia which of course is a basis for more concrete future investments”, Pesevski said.

Minister for Attracting Foreign Investments Vele Samak and Director of free industrial zones TIRZ Viktor Mizo also addresses the business forum. American companies are interested in investing in Macedonia, which is seen by already opened production facilities of Visteon, Johnson Controls or Kemet.

“These companies have positive experiences in doing business in Macedonia and functioning of the free industrial zones and represents important ambassador for attracting new American companies as it was the case with Amphenol, Key Safety Systems, Cap Con and Gentherm”, Mizo said.

The entire process and continuous and quality service and attention dedicated to new investors are another important chain which has influence on decisions of the potential investors. Promotion of all these facts at business forums as this one in New York is necessary to present Macedonia to bigger number of companies in order to consider when deciding to expand or restructure their presence on European market, he added.

“We referred to American investors regarding the period of strong dollar to weak euro that the investments in Macedonia are more profitable regardless whether the products or services would be directed towards European or American market. This situation with weak euro could last for at least a year which means that opportunity for costs reduction and conquering new markets should be maximally used. Numerous American investors in Macedonia like Visteon, Johnson Controls, Kemet, and Gentherm and very soon another large company are additional confirmation for this trend”, Samak said.