INVEST IN MACEDONIA - Vienna Economic Forum · INVEST IN MACEDONIA Kliment Sekerovski Deputy - CEO,...

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Transcript of INVEST IN MACEDONIA - Vienna Economic Forum · INVEST IN MACEDONIA Kliment Sekerovski Deputy - CEO,...

  • 1 Agency for Foreign Investments

    and Export Promotion www.investinmacedonia.com

    INVEST IN MACEDONIA

    Kl iment Sekerovsk i

    Deputy - CEO, Agency for F D I June, 2015

  • 2 Agency for Foreign Investments

    and Export Promotion www.investinmacedonia.com

    Location and Transport Infrastructure

    Two Pan-European corridors:

    East-West Corridor 8

    North-South Corridor 10

    Road network: 9,205 km

    Railway network: 900 km

    Two international airports:

    Skopje

    Ohrid

    International ports*:

    Thessalonica (Greece): 250 km

    Durres (Albania): 300 km

    * Distance from Skopje

  • 3 Agency for Foreign Investments

    and Export Promotion www.investinmacedonia.com

    Your Advantages

    Unbeatable tax benefits Lowest in Europe

    10% Corporate & Personal income tax

    0% Tax on retained earnings

    Wages Most competitive in Europe

    506 per month

    374 per month in manufacturing

    Lowest operating costs in Europe - drive industry expansion

    Your investment is protected

    Government guarantees

    Macedonia member of MIGA

    Tax Free Economic Zones

    Manufacturing, Financial, Medical, Tourism for Greenfield projects

    Commercial buildings available Easy to start Brownfield projects

    There has never been a better time to do business in Macedonia!

  • 4 Agency for Foreign Investments

    and Export Promotion www.investinmacedonia.com

    4

    Regulatory reforms One-Stop-Shop: 4 hours company

    registration

    Regulatory Guillotine

    Electronic One-Stop-Shop for

    customs permits and licenses

    Single window: Improving

    interoperability between government

    institutions

    Continuous implementation of reforms

    Liberalization of real-estate

    market Foreigners free to purchase real

    estate and construction land

    Simplification of procedures for obtaining construction permits from 21 to 3 steps

    Liberalization of Labor Market Modern Labor Law

    Improved labor force flexibility

    Cadaster reforms Digital Cadaster covering 99% of the

    real estate in Macedonia

    Notaries and land surveyors have

    access to land register through on-

    line system

  • 5 Agency for Foreign Investments

    and Export Promotion www.investinmacedonia.com

    BEST FOR STARTING A BUSINESS IN THE REGION

    Based on the World Banks Doing Business Report 2015

    1st IN TOTAL TAX RATE IN

    THE WORLD PwC and World Bank Group Study 2015

    3rd BEST IN STARTING A

    BUSINESS IN THE WORLD World Banks Doing Business 2015 Report

    4th FRIENDLIEST TO

    FOREIGNERS World Economic Forum 2013

    7th IN

    OVERALL PAYING TAXES PwC and World Bank Group Study 2015

  • 6 Agency for Foreign Investments

    and Export Promotion www.investinmacedonia.com

    Economic Indicators

    AVERAGE GROSS SALARY IN 2014

    517 per month

    374 per month in manufacturing

    CURRENCY

    Macedonian Denar pegged to the DM/ for the last 20 years (1= MKD 61.6) EXPORT BY YEAR (US$ bn)

    INFLATION

    Low inflation:

  • 7 Agency for Foreign Investments

    and Export Promotion www.investinmacedonia.com

    Sustainable Work Force Supply

    41.5% of population under the age of 30

    High intellectual capital

    65% increase in total number of undergraduate degrees in 2009 compared to 2006

    85% of high school graduates enroll in universities

    Multiple vocational high schools in each city

    Tailor-made training programs through Vocational Schools or Universities (e.g. JCI Case)

    6% of GDP spent on education

    60 million investment for 200 new laboratories in technical Universities

    10,000 college graduates each year are ready to bring their talents to area employers

  • 8 Agency for Foreign Investments

    and Export Promotion www.investinmacedonia.com

    Transportation costs to major European cities

    MACEDONIA

    KOSOVO

    SERBIA

    MONTENEGRO

    BOSNIA

    AND HERZ.

    CROATIA

    SLOVENIA

    ITALY BULGARIA

    ALBANIA

    GREECE

    ROMANIA

    HUNGARY

    SLOVAKIA

    AUSTRIA

    SWITZERLAND FRANCE

    SPAIN

    PORTUGAL

    BELGIUM

    LUXEMBOURG

    GERMANY

    CZECH REPUBLIC

    POLAND

    UKRAINE

    BELARUS

    RUSSIA

    UNITED KINGDOM

    TURKEY

    MOLDOVA

    MALTA AFRICA

    IRELAND

    NETHERLANDS

    DENMARK

    LITHUANIA

    LATVIA

    ESTONIA

    SWEDEN

    NORWAY

  • 9 Agency for Foreign Investments

    and Export Promotion www.investinmacedonia.com

    Corruption perception index

    64 69 69 69

    76 78 80

    Macedonia Romania Bulgaria Romania Montenegro Serbia Bosnia and Herzegovina

  • Technological Industrial Development

    Zones - TIDZs

  • 11 Agency for Foreign Investments

    and Export Promotion www.investinmacedonia.com

    Technological Industrial Development Zones

    Free Zone Tetovo (PPP)

    Area Size: 95 ha;

    Distance from Skopje - 35 km

    Free Zones Skopje 1, 2 & 3

    Area Size: 145 + 95 + 44 ha;

    E-75 Highway;

    Next to the Intl Airport

    Free Zone Rankovce

    Area Size: 40 ha;

    Corridor 8

    Free Zone Stip

    Area Size: 208 ha;

    The largest Free Zone;

    Excellent logistic support

    Free Zone Radovis

    Area Size: 10 ha;

    Main Road M6

    Free Zone Strumica

    Area Size: 23 ha;

    Free Zone Gevgelija

    Area Size: 50 ha;

    85 km from the port of

    Thessaloniki

    Free Zone Prilep

    Area Size: 68 ha; Between Prilep and Bitola

    (4th and 2nd largest city)

    Free Zone Struga

    Area Size: 30 ha;

    Next to the Intl Airport;

    170 km from Durres port

    Free Zone Kicevo

    Area Size: 30 ha

    Free Zones:

    Delcevo: 21 ha;

    Vinica: 26 ha;

    Berovo: 17 ha;

  • 12 Agency for Foreign Investments

    and Export Promotion www.investinmacedonia.com

    Fiscal Benefits

    TAX TAX RATES

    TIDZs Outside TIDZs

    Corporate tax 0%

    for the first 10

    years

    10%

    Personal income

    tax

    0% for the first 10

    years

    10%

    Value added tax 0% 18%

    Property tax 0% 0.1% - 0.2%

    Excise taxes 0% 5% - 62%

    PRODUCT CUSTOMS DUTY

    TIDZs Outside TIDZs

    Raw materials 0% Up to 15%

    Equipment 0% 5% - 20%

    No customs duties & No VAT on imported raw materials, equipment &

    construction materials

    Connection to utilities, complete

    infrastructure is available

    Subsidy of up to 500,000 towards

    construction costs

    Green Customs Channel available at

    border for rapid export from Zone to

    EU countries

    Land in the TIDZ is available under

    long-term lease for a period of up to

    99 years

    Training and job creation grants

    All incentives are in line with EU

    regulations

  • 13 Agency for Foreign Investments

    and Export Promotion www.investinmacedonia.com

    FORTUNE 100 COMPANY

    $40B Turnover

    TIDZ Stip

    PROJECT SCOPE

    2nd project in Macedonia

    Construction of cut & trim plant

    for car seats

    CONSIDERED COUNTRIES

    Macedonia, Moldova and Tunisia

    Macedonia was chosen because of its international competitiveness,

    because of our positive existing

    corporate experience here and above

    all because of the support and

    professionalism that we have received

    from all Government institutions

    during the analysis process.

    Steven Meylemans

    Project Manager

    Johnson Controls

  • 14 Agency for Foreign Investments

    and Export Promotion www.investinmacedonia.com

    TIDZ Skopje 1

    VISTEON

    $40mn automotive components plant;

    150 employees initially increasing to 500;

    Integrated circuits

    JOHNSON MATTHEY

    55mn investment

    over 500 employees

    catalyst production

    TEKNOHOSE

    ANNOUNCING BEGINNING OF

    CONSTRUCTION WORK IN TIDZ SKOPJE 1

    KEMET

    SIGNING OF THE AGREEMENT

    PRODIS GROUP

    ANNOUNCING BEGINNING OF

    CONSTRUCTION WORK IN TIDZ SKOPJE 1

    VAN HOOL

  • 15 Agency for Foreign Investments

    and Export Promotion www.investinmacedonia.com

    Thank You!

    AGENCY FOR FOREIGN INVESTMENTS

    OF THE REPUBLIC OF MACEDONIA

    Tel.: + 389 2 3100 111

    Fax: + 389 2 3122 098

    e-mail: [email protected]

    web: www.investinmacedonia.com

    Nikola Vapcarov 7

    1000 Skopje

    Republic of Macedonia