Macedonia is offering favourable conditions for investing and Indian companies and investors are invited to use the opportunity to reach the European market via Macedonia, it was stressed at a business forum in the Indian city of Jaipur, where a government delegation led by Prime Minister Nikola Gruevski presented the country’s opportunities and benefits for running a business.

The owner of the chain of companies Solemn, Shyam Tandon – who owns several businesses in the metalworking and food industry – commended the conditions offered by Macedonia to foreign investors.

“We’ve seen PM Gruevski’s presentation; the tax policy and facilitations, as well as the openness towards foreign investors are considered as good opportunities for Indian companies and investors to make connections and use Macedonia as a gateway. India was opened for the US market last year and I believe we should do the same with Europe and Macedonia is the right gateway for that,” stated Tandon.

Premier Gruevski said the government was focused on taking measures to improve the economy and to create a solid business climate.

“What is important about Macedonia is that the country has stable macroeconomic conditions, inflation is low and owns a stable currency. This is a great advantage providing security for companies and for those who want to invest,” stated Gruevski.

Simultaneously with reforms in the economy, he added, major efforts are also made in the development of information technologies.

“In addition to having IT faculties, a state university of information technologies was also opened in Ohrid, where classes are held in English. What is important for the IT sector is that Internet penetration in Macedonia today is 70%, which is a huge breakthrough compared to 2006 when it was 9%,” Gruevski stressed.

Other potentials that can be offered, according to him, are tourist zones where hotels and tourist faculties can be built. “These zones offer the same conditions as the free economic zones, namely tax benefits and a land sold for one euro per square meter as an initial price.”

He also focused on the free trade agreements signed by Macedonia to secure a large market.

“The country has inked free trade agreements with all European countries, except Russia, including EU and non-EU members, EFTA countries such as Switzerland, Island, Norway, Lichtenstein, Turkey and Ukraine. It means that everything that is produced in Macedonia can be exported in these countries without paying customs duties. It is a great advantage, since Macedonia is a small market and through these treaties, the companies have an access to a market of 660 million consumers,” PM Gruevski concluded.

The government delegation, led by PM Gruevski at the business forum in Jaipur, also includes the minister for attracting foreign investments, Jerry Naumoff, deputy economy minister Hristijan Delev and deputy director of the Agency for Foreign Investments and Export Promotion, Kliment Sekerovski.

The Jaipur business forum was held in cooperation with the Confederation of Indian Industry – the biggest chamber of commerce in India.