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1 Agency for Foreign Investments
and Export Promotion www.investinmacedonia.com
INVEST IN MACEDONIA
Kl iment Sekerovsk i
Deputy - CEO, Agency for F D I June, 2015
2 Agency for Foreign Investments
and Export Promotion www.investinmacedonia.com
Location and Transport Infrastructure
• Two Pan-European corridors:
– East-West Corridor 8
– North-South Corridor 10
• Road network: 9,205 km
• Railway network: 900 km
• Two international airports:
– Skopje
– Ohrid
• International ports*:
– Thessalonica (Greece): 250 km
– Durres (Albania): 300 km
* Distance from Skopje
3 Agency for Foreign Investments
and Export Promotion www.investinmacedonia.com
Your Advantages
• Unbeatable tax benefits – Lowest in Europe
10% Corporate & Personal income tax
0% Tax on retained earnings
• Wages – Most competitive in Europe
€ 506 per month
€ 374 per month in manufacturing
• Lowest operating costs in Europe - drive industry expansion
• Your investment is protected
Government guarantees
Macedonia member of MIGA
• Tax Free Economic Zones
Manufacturing, Financial, Medical, Tourism for Greenfield projects
• Commercial buildings available – Easy to start Brownfield projects
There has never been a better time to do business in Macedonia!
4 Agency for Foreign Investments
and Export Promotion www.investinmacedonia.com
4
Regulatory reforms One-Stop-Shop: 4 hours company
registration
Regulatory Guillotine
Electronic One-Stop-Shop for
customs permits and licenses
Single window: Improving
interoperability between government
institutions
Continuous implementation of reforms
Liberalization of real-estate
market Foreigners free to purchase real
estate and construction land
Simplification of procedures for obtaining construction permits from 21 to 3 steps
Liberalization of Labor Market Modern Labor Law
Improved labor force flexibility
Cadaster reforms Digital Cadaster covering 99% of the
real estate in Macedonia
Notaries and land surveyors have
access to land register through on-
line system
5 Agency for Foreign Investments
and Export Promotion www.investinmacedonia.com
BEST FOR STARTING A BUSINESS IN THE REGION
Based on the World Bank’s Doing Business Report 2015
1st IN TOTAL TAX RATE IN
THE WORLD PwC and World Bank Group Study 2015
3rd BEST IN STARTING A
BUSINESS IN THE WORLD World Bank’s Doing Business 2015 Report
4th FRIENDLIEST TO
FOREIGNERS World Economic Forum 2013
7th IN
OVERALL PAYING TAXES PwC and World Bank Group Study 2015
6 Agency for Foreign Investments
and Export Promotion www.investinmacedonia.com
Economic Indicators
AVERAGE GROSS SALARY IN 2014
€ 517 per month
€ 374 per month in manufacturing
CURRENCY
Macedonian Denar pegged to the DM/€ for the last 20 years (€1= MKD 61.6) EXPORT BY YEAR (US$ bn)
INFLATION
Low inflation: <2% annually over the last 13 years 2013: 2.8%; 2014: - 0.3%
Source: National Bank of the Republic of Macedonia
CREDIT RATINGS 2014
Standard & Poor’s: BB- (Stable)
Fitch: BB+ (Stable)
BUDGET DEFICIT & STATE DEBT
Budget Deficit, 2014: 3.9 % of GDP
State Debt, Q1 2014: 35.7 % of GDP
FDI BY YEAR (million €)
GDP GROWTH(%)
EXPORT (billion €)
2.6 1.9
2.5 3.2 3.1 3.2
2.7
2008 2009 2010 2011 2012 2013 2014 Q1-Q3
7 Agency for Foreign Investments
and Export Promotion www.investinmacedonia.com
Sustainable Work Force Supply
• 41.5% of population under the age of 30
• High intellectual capital
– 65% increase in total number of undergraduate degrees in 2009 compared to 2006
– 85% of high school graduates enroll in universities
– Multiple vocational high schools in each city
• Tailor-made training programs through Vocational Schools or Universities (e.g.
JCI Case)
• 6% of GDP spent on education
• € 60 million investment for 200 new laboratories in technical Universities
10,000 college graduates each year are ready to bring their talents to area employers
8 Agency for Foreign Investments
and Export Promotion www.investinmacedonia.com
Transportation costs to major European cities
MACEDONIA
KOSOVO
SERBIA
MONTENEGRO
BOSNIA
AND HERZ.
CROATIA
SLOVENIA
ITALY BULGARIA
ALBANIA
GREECE
ROMANIA
HUNGARY
SLOVAKIA
AUSTRIA
SWITZERLAND FRANCE
SPAIN
PORTUGAL
BELGIUM
LUXEMBOURG
GERMANY
CZECH REPUBLIC
POLAND
UKRAINE
BELARUS
RUSSIA
UNITED KINGDOM
TURKEY
MOLDOVA
MALTA AFRICA
IRELAND
NETHERLANDS
DENMARK
LITHUANIA
LATVIA
ESTONIA
SWEDEN
NORWAY
9 Agency for Foreign Investments
and Export Promotion www.investinmacedonia.com
Corruption perception index
64 69 69 69
76 78 80
Macedonia Romania Bulgaria Romania Montenegro Serbia Bosnia and Herzegovina
Technological Industrial Development
Zones - TIDZs
11 Agency for Foreign Investments
and Export Promotion www.investinmacedonia.com
Technological Industrial Development Zones
Free Zone Tetovo (PPP)
Area Size: 95 ha;
Distance from Skopje - 35 km
Free Zones Skopje 1, 2 & 3
Area Size: 145 + 95 + 44 ha;
E-75 Highway;
Next to the Int’l Airport
Free Zone Rankovce
Area Size: 40 ha;
Corridor 8
Free Zone Stip
Area Size: 208 ha;
The largest Free Zone;
Excellent logistic support
Free Zone Radovis
Area Size: 10 ha;
Main Road M6
Free Zone Strumica
Area Size: 23 ha;
Free Zone Gevgelija
Area Size: 50 ha;
85 km from the port of
Thessaloniki
Free Zone Prilep
Area Size: 68 ha; Between Prilep and Bitola
(4th and 2nd largest city)
Free Zone Struga
Area Size: 30 ha;
Next to the Int’l Airport;
170 km from Durres port
Free Zone Kicevo
Area Size: 30 ha
Free Zones:
Delcevo: 21 ha;
Vinica: 26 ha;
Berovo: 17 ha;
12 Agency for Foreign Investments
and Export Promotion www.investinmacedonia.com
Fiscal Benefits
TAX TAX RATES
TIDZs Outside TIDZs
Corporate tax 0%
for the first 10
years
10%
Personal income
tax
0% for the first 10
years
10%
Value added tax 0% 18%
Property tax 0% 0.1% - 0.2%
Excise taxes 0% 5% - 62%
PRODUCT CUSTOMS DUTY
TIDZs Outside TIDZs
Raw materials 0% Up to 15%
Equipment 0% 5% - 20%
No customs duties & No VAT on imported raw materials, equipment &
construction materials
• Connection to utilities, complete
infrastructure is available
• Subsidy of up to €500,000 towards
construction costs
• Green Customs Channel available at
border for rapid export from Zone to
EU countries
• Land in the TIDZ is available under
long-term lease for a period of up to
99 years
• Training and job creation grants
• All incentives are in line with EU
regulations
13 Agency for Foreign Investments
and Export Promotion www.investinmacedonia.com
FORTUNE 100 COMPANY
$40B Turnover
TIDZ “Stip”
PROJECT SCOPE
• 2nd project in Macedonia
• Construction of cut & trim plant
for car seats
CONSIDERED COUNTRIES
• Macedonia, Moldova and Tunisia
“Macedonia was chosen because
of its international competitiveness,
because of our positive existing
corporate experience here and above
all because of the support and
professionalism that we have received
from all Government institutions
during the analysis process.”
Steven Meylemans
Project Manager
Johnson Controls
14 Agency for Foreign Investments
and Export Promotion www.investinmacedonia.com
TIDZ “Skopje 1”
VISTEON
• $40mn automotive components plant;
• 150 employees initially – increasing to 500;
• Integrated circuits
JOHNSON MATTHEY
• €55mn investment
• over 500 employees
• catalyst production
TEKNOHOSE
ANNOUNCING BEGINNING OF
CONSTRUCTION WORK IN TIDZ “SKOPJE 1”
KEMET
SIGNING OF THE AGREEMENT
PRODIS GROUP
ANNOUNCING BEGINNING OF
CONSTRUCTION WORK IN TIDZ “SKOPJE 1”
VAN HOOL
15 Agency for Foreign Investments
and Export Promotion www.investinmacedonia.com
Thank You!
AGENCY FOR FOREIGN INVESTMENTS
OF THE REPUBLIC OF MACEDONIA
Tel.: + 389 2 3100 111
Fax: + 389 2 3122 098
e-mail: [email protected]
web: www.investinmacedonia.com
Nikola Vapcarov 7
1000 Skopje
Republic of Macedonia