North Macedonia’s Prime Minister Talat Xhaferi, present at the EBRD Investment Summit held in London, UK, invited foreign investors to his country during a discussion at the Prime Ministers’ panel. Xhaferi commented that the world is witnessing numerous changes, crises, conflicts with a direct effect on all global economies. This is exactly one of the reasons why foreign investors would invest in North Macedonia, and it is because of the disruption of global supply chains, said Xhaferi.

“Due to its proximity to European centers, North Macedonia is one of the destinations for establishing production. We have a good location, good connections and ports close to us, so in a short time the product produced here can reach another country,” stated Xhaferi.

The second argument, according to him, is the stable macroeconomic and fiscal situation, the intensive process of harmonization of the domestic legislation with the EU, the favorable business environment and the well-developed support programs for investors. “Here we also include the stimulating tax policy, among other things, through the conclusion of agreements to avoid double taxation and tax evasion,” said the PM.

North Macedonia has no laws that discriminate against foreign investors, on the contrary, “we call them Ours - because they all contribute to the same goal - improving the quality of life of citizens”, commented Xhaferi.

He also mentioned the significant incentives for companies that invest in North Macedonia, namely subsidies for job creation and capital investment; subsidies up to 50% of eligible investment costs for research and development; and support to exporters.

“The low level of taxation of the profits of the corporate sector and the income of natural persons, ie 10% rate of corporate tax and personal income tax, stimulates the growth of economic activity and investments. Several technological industrial development zones are successfully operating in our country, which are particularly attractive for foreign investments,” said Xhaferi.

Xhaferi highlighted that North Macedonia leads in the region with implemented laws and by-laws that are fully compliant with the European Energy Community, which enabled the liberalization of the energy market.

“On the other hand we have started negotiations with the European Union and we are a member of NATO, which offers stability. We have concluded free trade agreements with the EU (27 countries), EFTA (4 countries), CEFTA (7 countries), Bilateral Free Trade with Turkey, Ukraine and the United Kingdom,” concluded Talat Xhaferi.