Macedonia offers customs, tax privileges to investors from Azerbaijan
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.
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 Baku hosted 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.
Azerbaijan prepares roadmap for High-Tech Park construction
Preparations for the tender on attraction of contractors for implementation of architectural works of High-Tech Park (Technopark) in Azerbaijan are at the final stage, Deputy General Director of Technopark Jabbar Musayev said.
The technical control over the design process as part of the construction of the IT Technological Park is being carried out by the U.S.-based company Hill International, which is one of the best companies in the world in construction management.
Musayev said that the first phase of the preparation of the business plan of Technopark is being completed. Works are carried out by Commit consulting company. Laying of the foundation of the industrial park is planned before the end of the year.
"After the preparation of the roadmap, construction works will be carried out in a planned manner, step by step," Musayev said. "An infrastructure that allows operating of a number of facilities is provided to be created at an early stage. Financing of construction works is provided at the expense of the state. The major criteria are the construction of modern facilities at a reasonable cost," he added.
The construction of "High-Tech Park" (Technopark) is to be in the Pirallahi district of Baku. Some 50 hectares of land there has been allocated for construction of the park.
Administrative and residential buildings will be built in Technopark. An incubation center, mini-factories for the production of high-tech products, etc. will be created at the park.
High-Tech Park LLC passed the state registration. Azerbaijani State Committee for Property Issues approved the charter of the park and meetings were held with potential foreign investors and companies.
With the beginning of the park's activities the ICT spheres will expand and the creation of modern research facilities and development of new information technologies will be provided. The park will play an important role in the sustainable development of the economy and competitiveness.