Macedonia a crossroad for international companies to enter European markets, says FinMin

Macedonia is a fast-growing economy at the crossroads between East and West, North and South, which mitigates the work of businessmen operating in Macedonia to export goods in any European country.

This is how Deputy PM and Finance Minister Zoran Stavreski presented Macedonia as a favourable business destination before Indian companies at a business forum in Chennai.

"Macedonia is a fast-growing economy compared to other countries in Europe, which means we are comparing the country with other European countries with a growth rate of one to two percent. Prior to the crisis, Macedonia registered an average growth rate of 5-6% and at the same time it coped with the crisis more easily than other European countries. Growth rate in 2010 and 2011 was 3% owing to export, which is increasing by 25 to 30% at an annual level. This is a result of the foreign direct investments i.e. companies that have opened their own businesses in the free economic zones," FinMin Stavreski said at the business forum.

He underscored that Macedonia was a candidate country for EU membership. "This fact is important for every businessmen, because it provides a high level of stability and predictability of the legislation, policies and regulations, which are crucial for the business itself."

Chennai, which is the fifth Indian city where the Macedonian government delegation presented the country's investment opportunities at business events, is ranked in the Forbes' Top Ten Fastest-Growing Cities list.

Chennai's metropolitan area is taking full advantage of India's soaring industrial sector, particularly the booming automobile sector. Electronics, led by Dell, Nokia, Motorola, Samsung, Siemens, Sony and Foxconn, are also booming. Chennai is home to India's second-largest entertainment industry, behind Mumbai.

Tuesday's presentation was held in cooperation with India's largest chamber of commerce CII - Confederation of Indian Industry.

The government delegation, also including Minister for Foreign Investments Bill Pavleski and Directorate for Technological-Industrial Development Zones director Viktor Mizo, has already held presentations in New Delhi, Bangalore, Trivandrum and Hyderabad.