Macedonia explores investment opportunities from Kerala

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Trivandrum: A trade delegation from the Republic of Macedonia, led by Bill Pavleski, Minister for Foreign Investments and Ivo Ivanovski, Minister for IT & Administration, was in Thiruvananthapuram, to seek investments from Kerala and also to explore areas of mutual interests. Apart from meeting Government officials, the team from Invest Macedonia, the agency for foreign investments and export promotion in Macedonia, also held an interactive session with CII members.

The FDI Minister presented Macedonia’s trade opportunities offered to foreign companies – location, transport and logistical benefits offered to potential investors. With an average inflation of 2% annually and a stable growth rate of 5-6%, Macedonia offers the best environment for all those companies who want to set up a manufacturing base in Europe. The lowest 10% flat tax on profits and personal income is big attraction for foreign investors. Low cost of set up and flexible labour force legislation makes Macedonia an attractive investment destination.

“The Government’s long-standing efforts for improvement of the business environment and building an image of a very attractive European investment destination has paid off”, Bill added. He also referred to the investments in the education field, free trade agreements signed with the EU, EFTA and CEFTA member-states, as well as Turkey and Ukraine.”

Ivanovski focused on Macedonia’s macroeconomic stability and the acknowledgement by international credit rating agencies in Europe’s turbulent times. He also referred to the shortened procedures of issuing licenses, as well as the young and educated workforce. He added that ICT has been identified as a national priority and this sector offered tremendous opportunities to the Indian IT Companies, especially mid-size companies from Kerala, who want to expand to Europe.

Viktor Mizo, CEO of Free Zone Authority, showcased the benefits offered to investors in the Industrial Development Zones (SEzs), as well as Macedonia’s competitive advantages compared to other countries of Southeast and Eastern Europe. He said lot of incentives are offered to attract foreign direct investment to the land locked country.

VK Mathews, Chairman, CII Kerala State Council; C Padmakumar, Chairman, CII Trivandrum Zone and officials from the Macedonian Embassy in New Delhi were also present.

Kerala Biz News

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