21 October 2012

Diaspora to establish investment fund in Macedonia

Mike Zafirovski - Chairman of the
Macedonia 2025 Board of Directors.

Macedonia 2025 and SEAF will establish a new investment capital fund, focused on growth of the Macedonian enterprises.
The establishment of SEAF Macedonia I Fund was announced Friday by the organisation of the Global Investment Forum, taking place in Ohrid.
In addition to investing, the members of Macedonia 2025 - a group of successful entrepreneurs and CEOs of international companies with Macedonian origin and living in the United States, Canada, Europe and Australia - will offer to Macedonian businessmen mentorship and access to markets.
"The fund is first of its kind where the diaspora is a catalyst and leading investor putting an emphasis on the fatherland and the region. It's our great pleasure to collaborate with SEAF in an attempt to create a successful fund and to pave the way for new funds. Our board of directors is thrilled with the idea of helping SEAF in the development of business leaders and successful businesses in Macedonia  and allowing access to our global network of business connections," stated Mike Zafirovski - Chairman of the Macedonia 2025 Board of Directors.
"Our goal is to spread as a network and to help our homeland. We expect nothing in return, only pride. We hope Macedonia will become a more prosperous country," Zafirovski said.
According to Deputy PM and Finance Minister Zoran Stavreski, thus far the diaspora was not present with investments. "However, it provided logistics to the Government's efforts in organising investment forums, establishing contacts with other companies willing to invest, for instance the plant of Kemet Electronics, which was inaugurated yesterday by Mike Zafirovski."
"There has been similar support, but the announced fund will enable finances to be invested in new companies starting their business," Stavreski noted.
He added that the Ohrid summit was an exceptional chance to compare positions and viewpoints on investing in Macedonia and businessmen to be informed about the investment potentials.
At summit's opening, Prime Minister Nikola Gruevski outlining the Government's activities in search of foreign investments and those that had been already launched, said that Macedonia was already considered as an attractive investment destination, seen by international companies as "an important gate toward Europe."
"We will continue our efforts to attract foreign investors and your help, support and idea will be more than welcome," Gruevski said adding the Government would resume maintaining sound economic policies and implementing further reforms.
SEAF establishes the fund as a result of its first successful fund - SEAF Macedonia, which was the first Macedonian venture fund that supported companies such as Tinex, On.Net, Krug (Dnevnik) and Login. SEAF chairman and co-founder Hubertus van der Vaart has stated: "SEAF believes that the Macedonian entrepreneurs are one of the best in the world. We are delighted at the idea of supporting a new group of entrepreneurs together with Macedonia 2025 and promoting economic growth and development in one of the most beautiful countries in the world."
Conclusions will be drawn at the forum containing recommendations and expectations from top business leaders in Macedonia and the diaspora, focusing on supporting, encouraging and improving investment efforts in Macedonia.
The summit, which brings together 350 participants, is held under the motto "Discovering Opportunities: Leveraging Business Diaspora to promote trade, investments and economic growth".

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