Skopje, 26 February 2024 (MIA) - The geopolitical position and economic policies make us an attractive investment destination, caretaker Prime Minister Talat Xhaferi told the Western Balkans Investment Summit 2024 of the European Bank for Reconstruction and Development (EBRD) in London on Monday.

PM Xhaferi took part in a panel alongside counterparts from Montenegro, Serbia, Bosnia-Herzegovina, Kosovo, Albania, and the EBRD President, discussing the benefits of investing in regional countries, the Government said in a press release.

"We have witnessed many changes, crises, conflicts that directly impact economies across the globe. This gives the answer to the question of why foreign companies should invest in North Macedonia - because of the disruption to the global supply chains. Due to its proximity to European capitals, North Macedonia is one of the destinations where manufacturing should be set up - good location, good ties and close ports (Thessaloniki and Durres), meaning that a product made in our country can reach the final destination in a short period of time," said Xhaferi.

The second argument, he added, is the stable situation from a macroeconomic and fiscal standpoint, the intensive process of aligning national legislation with the EU Acquis, favorable business environment and well-developed investment support programmes.

"Another aspect is the stimulating tax policy, including agreements for elimination of double taxation and tax evasion. North Macedonia does not have laws that discriminate foreign investors, we consider them as our own, since they all contribute to the same goal - improving quality of people's lives," noted Xhaferi.

The PM said the third argument are the significant incentives for companies operating in the country.

"These include subsidies for job openings and capital investments, subsidies for research and development and support for exporters, lower taxes. Several technological-industrial development zones are operational in the country, which are attractive for foreign investors," said Xhaferi.

He added that the country is a regional leader in the implementation of laws and bylaws that are fully aligned with the Energy Community, thus ensuring liberalization of the energy market.

"We have started the EU accession negotiations and we are a NATO member, which guarantees stability. In addition, we have free trade agreements with the EU, EFTA, CEFTA, Turkey, Ukraine, UK," underlined Xhaferi.

The panel also tackled priorities of governments in the region and cross-border cooperation, with PM Xhaferi referring to North Macedonia's investments in the energy sector, road and railway infrastructure, reads the press release.

Photo/video: Government