Italian “Capital”: Macedonia is a hidden pearl of the Balkans

Macedonia is a hidden pearl of the Balkans, with a flat tax of 10 percents, special economic zones and minimal bureaucracy, the country offers the best conditions for doing business in Europe, it is written in the analysis of economic and financial monthly Italian -Capital, published by Media House Class Editori in the December issue.



You cannot use the average expressions when you speak about Macedonia. This young nation, in the heart of the Balkans country in the last 10 years recorded one of the biggest growing trends in the world. According to the World Bank, this ex- Yugoslav republic is at the 25th place in the Special Report on Doing Business 2014, it is written in the text.

Reforms started in 2007 for simplification of trade and stimulation of the new companies gave results. The magazine states that the flat tax of 10 percents, extreme low cash taxes, single window system that allow investors to register a company for one day as well as full exemption from customs duties and VAT on export- oriented companies are examples how such as a small state succeeded in making investment boom at a time of financial crisis, analyze the Italian Capital.

Initiated and strongly supported by Prime Minister Nikola Gruevski, who is at the Head of state since 2006, these reforms showed how a small country can attract multi-national companies around the world, as are the Russian Protek Group, a  pharmaceutical giant in the sector or the U.S. Johnson Controls, which manufactures parts for the automotive industry, is written in the article.

“In 2012 the company Sol in Macedonia billing nearly 10 million euro out of 583 million euro that were generated by the whole group, while realizing investments in Macedonia with over 30 million euro to seize the strategic position at the Balkan Peninsula, says for Capital, Aldo Fumadzhali Romario CEO of the company. Just a few months ago, Sol got four concessions for management for four hydropower plants in the country,” said Romario.

“A clear indicator of business attractiveness of this country can be noticed at the capacity to attract large number of industry groups which over time will reinvest,  contributing to the development of the country as well as at the level of group. This is another incentive for the Government that does not stop in efforts to improve the fiscal system,” said Bill Pavlevski, Minister for foreign investment.

“Since 2006 this Government has given significant contribution to the development of technological industrial zones. It is a truly, free economic zones established to attract foreign investments, explains Viktor Mizo, the Director of TIDZ. One of the last so-called reliefs is the green channel for free clearance. This is one of the factors that convinced the group “Whirlpool” leader in the sector of hydraulics to open the company Tehnohoze that manufactures rubber hoses intended for markets in South East Europe and Russia. The company entered with initial investment of 10 million euro,” explaianes Mizo.

About 60 percent of our exports is in the European Union. Our entry into the EU will contribute to stabilizing the country not only from economical aspect, explained the Prime Minister.

“The country is candidate since 2005 and we want to be part of the EU and NATO. Even the court in The Hague ruled in our favor, but still we suffer from veto by Greece over the name of our country,” said Gruevski for Capital.

The economic and financial magazine Capital is part of a leading media house for finance, economy, and fashion and luxury sector in Italy, Class Editori.

Among the most important headlines of the economic and financial sector of Class Editori are the newspapers Milano Finanza, Italia Oggi, monthly magazine Capital, Global Finance, Class CNBC television channel in partnership with NBC Universal, web portals www.milanofinanza.it, www.italiaoggi.it.

Moreover, Capital and several well-known media groups wrote about the best terms offered for investment by Macedonia.

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