FYROM: Investing

FDI in Figures

In the absence of an adequate domestic savings, foreign investment is the main opportunity for the development of the economy. FDI stock in late 2009 was estimated at USD 2.9 billion, a level considered low among European countries in transition. Austria, Hungary, Greece and Cyprus are the main investors. Investments of the countries of the former Yugoslavia are low given their commercial presence in the country. The investments target mainly heavy industry (mining, metallurgy, oil refining), light industries (textiles, food) and construction (cement, brick, marble), and more recently services (banking, insurance, telephone).

Conditions reserved for foreign investment are among the best offered in the Balkans. There has been a significant effort to harmonize economic and social laws and regulations with the EU criteria, standards and practices and these efforts are progressing steadily.  FDI stock has increased since 2009, but the country must consolidate its international image if it hopes to attract more.

Why You Should Choose to Invest in FYROM

Strong Points

The country has great advantages: 
- Salaries are low and there is high-quality workmanship;
- The country has a stable democracy;
- The procedures to create an enterprise are fast and uncomplicated;
- Geographically, the country enjoys an excellent location, it is a meeting point connecting the roads of Europe;
- The country's government has put in place several reforms in order to attract foreign investors.

Weak Points

Due to the economic crisis, the growth rate is very low and the inflation is strong. In addition, the country is again facing corruption and it has a significant foreign debt.

Government Measures to Motivate or Restrict FDI

The country's government has issued laws that provide to foreign investors the same rights as to the national ones. FYROM proposes to investors a free trade zone for purchasing and selling merchandises, a tax deduction on profits for three years, subsidies for job creation, fast procedures to  private property access, etc.

Bilateral Investment Conventions Signed By FYROM

FYROM is a member of ALECE (Central European Free Trade Agreement) since 2000.

The country has also signed agreements of free trade with Turkey and Ukraine.

In 2001, FYROM signed with the European Union an Association and Stabilization agreement and since 2005 the country has been recognized as a candidate state to the European Union.

Procedures Relative to Foreign Investment

Freedom of Establishment

Yes.

Acquisition of Holdings

Possible.

Obligation to Declare

It is mandatory that all enterprises declare their activities.

Competent Organization For the Declaration

Chamber of Commerce (in Slavomacedonian)

Requests For Specific Authorizations

The country allows all type of investors without marketing restrictions.

Investment Opportunities

Investment Aid Agency

Investing in FYROM

Tenders, Projects and Public Procurement

Tenders Info
Globaltenders
DgMarket - Tenders Worldwide

Other Useful Resources

Ministry of Economy
Ministry of Foreign Affairs
National Agency of Entrepreneurship.

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