Business forum aims to spur more investments in Macedonia

Macedonia Prime Minister, Nicola Gruevski led the Macedonian Trade and Investment Mission team of 10 delegates at a business forum themed "Emerging Trade and Investment Opportunities in Macedonia" held here today. The business forum, attended by 100 participants, provided a platform for the Macedonian delegates and Malaysian participants from various sectors to network, discuss, explore new areas of business cooperation and establish contacts for expansion of trade and businesses. At the forum, Gruevski highlighted the business opportunities that are available in Macedonia including new investments in energy, railways, motorways and mining sectors. He also said the country offers an attractive investment environment including long-term macroeconomic and financial stability, prudent fiscal policies, best tax package in Europe and proven track record of successful reforms. There is no spillover effects of the world financial crisis on Macedonia making it ideal for investments, he added. The total bilateral trade between Malaysia and Macedonia last year amounted to US$294,100. Malaysia's exports to Macedonia totalled US$65,400 while imports were valued at US$228,800. Meanwhile, MATRADE Chief Executive Officer, Dr Wong Lai Sum said the efforts and initiative made by the delegates will provide deep insights for the Malaysian business communities on the investment and trade opportunities in Macedonia. "The current state of warm and cordial bilateral relations between the two countries augurs well for more exchanges," she added. According to Doing Business 2012 report, Macedonia was ranked 22nd in the world on the overall indicator for "Ease of Doing Business". It is the third best reformer in the world based on the World Bank's Doing Business 2010 and 2012 reports, and fourth in the world with lowest total tax rate level validated by PricewaterhouseCoopers and World Bank Group 2012 study.