A governmental delegation, led by Prime Minister Nikola Gruevski, presented Monday the possibilities for investing in Macedonia at a business forum in Saudi Arabia capital Riyadh. 

The event is organized in cooperation with Riyadh Chamber of Commerce & Industry, the Government said in a press release.

Macedonia's Government is committed to reforms and particularly friendly-oriented to developing business and investment activities, working regularly on improving the business climate, Gruevski told the gathering.

The World Bank Doing Business report considers Macedonia's business climate as the 30th best worldwide. According to the report, the country's business climate enjoys better ranking that the ones of 16 EU members, all East and South-East European countries, the PM said, pointing out that Macedonia has the lowest costs for doing business in Europe.

Besides the low taxes, Macedonia's free economic zones also offer favorable conditions to potential investors - they will not pay profit and personal income tax in the first ten years, being also exempted from payment of customs duties for import of raw materials.

Large companies form UK, US, Belgium, Germany and Russia, which are already present in Macedonia, may testify about their positive experience with the country's business climate, Vice-Premier and FinMin Zoran Stavreski said.

"They are also satisfied with the treatment they enjoy in relations with governmental institutions, which wraps up the whole picture of favorable business climate," Stavreski said.

Mansour Shafi Al-Ajmi, Riyadh Chamber of Commerce & Industry Public Relation Manager, affirmed the chamber's interest in bolstering the business ties between Saudi Arabia and Macedonia.

Trading activities are the strongest link for bringing together two countries that wish to advance their relations. The existence of free economic zones, favorable taxies and other attractive conditions for doing business will boost the trade exchange between Saudi Arabia and Macedonia, Al-Ajmi said.