Baku, Azerbaijan, Sept. 9
By Huseyn Valiyev - Trend:
Macedonia stands ready to provide the most favorable conditions to attract Azerbaijani and Turkish investors to its market, Macedonian Vice-Prime Minister and Finance Minister Zoran Stavreski said Sept. 8.
Stavreski made the remarks at a meeting in Baku with the members of the Azerbaijan International Society of Turkish Industrialists and Businessmen (TUSIAB).
He said Macedonia is one of the European countries with a steadily growing economy. The economic growth since early 2014 was 3.9 percent.
The construction sector and industry are the main forces driving the country's economic development.
Among the major projects currently being realized in Macedonia, Stavreski pointed out the projects on construction of three motorways and a railway to Bulgaria.
"Foreign investments also play an important role in the country's economic development. Today, the companies of Azerbaijan and Turkey are making investments in the country's economy, and similar steps are being taken by the Macedonian companies," Stavreski said.
He went on to add that on Sept. 9, Baku will host a business forum, which will focus on economic cooperation.
Stavreski noted that during the forum business sector will also get acquainted with the opportunities offered by Macedonia for the development cooperation.
Macedonian vice-prime minister also spoke about the benefits that are currently being offered to foreign investors in Macedonia.
He said one of the privileges offered by Macedonia, given certain conditions, include the tax and customs privileges.
"The corporate taxes in the country stand at 10 percent. If the companies invest again, this percentage will be set to zero. Income tax also stands at 10 percent. Moreover, these terms apply throughout the country," Stavreski stressed.
He added that his country has a free economic zone, the members of which are also exempt from taxes.
Stavreski said the taxes for investors will be set at zero in case if their products will also go for exports, aside from being delivered to the domestic market.
Currently, according to Stavreski, the investors have the opportunity to export their products to Europe, Asia, the U.S., as well as Turkey and Ukraine.
Macedonia has a free trade agreement with all countries of Europe, including Turkey and Ukraine. In this case, the exported products are not subject to customs duties.
Stavreski also spoke about the wide opportunities for cooperation in the tourism sector.
The existing mechanisms, related to customs and tax benefits, also apply to the investors in the tourism sector.