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Wirtschaft Mazedoniens - Економија на Македонија - Economy of Macedonia (Rep. of)
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Zoran
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https://uk.finance.yahoo.com/news/macedonia-kiribati-better-tax-systems-060020016.html
Macedonia and Kiribati have better tax systems than the UK
Telegraph
By Szu Ping Chan | Telegraph – 1 hour 24 minutes ago
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UK businesses are hindered by the burden of red tape, which threatens to undo the Government's good work in lowering corporation tax, according to World Bank report
A triple burden of red tape, compliance costs and the slow pace of tax reform is hampering efforts to transform Britain into the most competitive country in the G20, according to a new report.
While the Government's decision to slash corporation tax to 20pc in 2015 from 28pc in 2010 meant hundreds of multinational companies were now flocking to the UK, increased efforts by other countries to step up reforms and Britain's relatively complex system pushed it down two places to 16th in the World Bank and PwC's annual benchmark of business tax systems.
The decline means the UK is behind Macedonia and pacific island Kiribati in terms of overall tax competitiveness and just one place above Kazakhstan.
Norway, where widespread use of electronic payments has made the system more efficient, also moved above the UK this year.
The report highlighted that medium-sized British businesses took an average of 110 hours - or almost 14 working days - to prepare, file and pay their corporation, labour and value added taxes in 2013, with eight different taxes payable in total.
While this is lower than the global average of 264 hours as well as the European average of 176 hours, it was less efficient than economies such as Ireland (Other OTC: IRLD - news) .
The UK's tax system is also more burdensome than the overall top-rated economies of Qatar and the United Arab Emirates (UAE), where the time taken to file and pay all taxes was just 12 hours and 41 hours respectively.
Total tax rates have steadily come down as economies become more competitive (Source: World Bank/PwC)
Meanwhile, the total tax rate paid by UK companies in 2013 fell by 0.3 percentage points to 33.7pc, mainly because of the reduction in the rate of corporation tax.
By comparison, Croatia had a total tax rate of 18.8pc, while Qatar's total tax rate was just 11.3pc. France's total tax rate, at 66.6pc, was the highest in the EU.
“The UK has a competitive tax system, but other countries are upping the ante on reform. We can’t sit still if the Government is to make the UK the most competitive tax system in the G20," said Kevin Nicholson, head of tax at PwC.
"Corporation tax will fall to 20pc in April but tax rates are only half the issue. For medium sized businesses, the time spent having to deal with taxes can have a bigger impact. Reducing the compliance burden is critical."
More: Britain is the world's ninth most competitive country
Macedonia and Kiribati have better tax systems than the UK
Telegraph
By Szu Ping Chan | Telegraph – 1 hour 24 minutes ago
Share
Companies:
Ireland, Inc.
RELATED QUOTES
Symbol Price Change
IRLD 0.17 +0.01
UK businesses are hindered by the burden of red tape, which threatens to undo the Government's good work in lowering corporation tax, according to World Bank report
A triple burden of red tape, compliance costs and the slow pace of tax reform is hampering efforts to transform Britain into the most competitive country in the G20, according to a new report.
While the Government's decision to slash corporation tax to 20pc in 2015 from 28pc in 2010 meant hundreds of multinational companies were now flocking to the UK, increased efforts by other countries to step up reforms and Britain's relatively complex system pushed it down two places to 16th in the World Bank and PwC's annual benchmark of business tax systems.
The decline means the UK is behind Macedonia and pacific island Kiribati in terms of overall tax competitiveness and just one place above Kazakhstan.
Norway, where widespread use of electronic payments has made the system more efficient, also moved above the UK this year.
The report highlighted that medium-sized British businesses took an average of 110 hours - or almost 14 working days - to prepare, file and pay their corporation, labour and value added taxes in 2013, with eight different taxes payable in total.
While this is lower than the global average of 264 hours as well as the European average of 176 hours, it was less efficient than economies such as Ireland (Other OTC: IRLD - news) .
The UK's tax system is also more burdensome than the overall top-rated economies of Qatar and the United Arab Emirates (UAE), where the time taken to file and pay all taxes was just 12 hours and 41 hours respectively.
Total tax rates have steadily come down as economies become more competitive (Source: World Bank/PwC)
Meanwhile, the total tax rate paid by UK companies in 2013 fell by 0.3 percentage points to 33.7pc, mainly because of the reduction in the rate of corporation tax.
By comparison, Croatia had a total tax rate of 18.8pc, while Qatar's total tax rate was just 11.3pc. France's total tax rate, at 66.6pc, was the highest in the EU.
“The UK has a competitive tax system, but other countries are upping the ante on reform. We can’t sit still if the Government is to make the UK the most competitive tax system in the G20," said Kevin Nicholson, head of tax at PwC.
"Corporation tax will fall to 20pc in April but tax rates are only half the issue. For medium sized businesses, the time spent having to deal with taxes can have a bigger impact. Reducing the compliance burden is critical."
More: Britain is the world's ninth most competitive country
N
Nik
Guest
Foreign Investors Shy Away From Macedonia :: Balkan Insight
[h=1]Foreign Investors Shy Away From Macedonia[/h]Despite being ranked as the region’s top country for doing business, Foreign Direct Investment, FDI, is down this year in Macedonia compared to the same period in 2013.
Sinisa Jakov Marusic
[COLOR=#666666 !important]BIRN[/COLOR]
[COLOR=#666666 !important]Skopje[/COLOR][TABLE="class: photocaption, width: 1, align: right"]
[TR]
[TD]
[/TD]
[/TR]
[TR]
[TD]Macedonian PM Nikola Gruevski at a groundbreaking ceremony | Archive photo
[/TD]
[/TR]
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In the first eight months of 2014, Macedonia attracted €176 million in FDI, which was 11 €million less than the same period last year, data from the Central Bank show.
Macedonia attracted only €251 million in FDI in 2013, which was the worst score in the region, below Kosovo, which attracted slightly more - €259 million.
By contrast, Montenegro, which has a population one-third of the size of Macedonia's, attracted almost €350 million in FDI in 2013. Albania attracted €920 million in foreign investment, Serbia €780 million while Bosnia and Herzegovina ended the year with €300 million.
The disappointing data come only one week after the World Bank's latest “Doing Business” report ranked Macedonia the region's leader in terms of ease in doing business. It was ranked in 30th place overall, moving up one place from last year.
The government used the ranking to boast about its focus on attracting FDI. However, economic experts say that such rankings are an unreliable guide to a country's ability to attract foreign investment.
“We are mostly attracting investors thanks to the government subsidies we offer. In the long term, this is potentially dangerous because these investors might leave the country once the subsidies run out,” economic analyst Slobodan Najdovski observed.
In the last few years, Macedonia has offered investors various benefits, ranging from tax cuts and tax exemptions to subsidies for employees’ wages, social and healthcare costs.
Macedonia also offers investors who spend more than €400,000 and employ at least ten people the right to obtain citizenship.
The latest legal change allows foreign investors to purchase the land where they have started factories in the free economic zones, which is now in state ownership.
Prime Minister Nikola Gruevski, who has held power since 2006, is currently leading an economic roadshow in the United States. Before that, he showecased the investment opportunities in Macedonia in Canada.
“This issue of FDI is complex. It depends on many different circumstances other than reports, roads, trade agreements and the ability to export,” Najdovski noted.
FDI in Macedonia in past years has seen drastic fluctuations, which were often attributed to the effects of the global economic crisis.
Investment saw a sharp decline from a figure of €337 million in 2011 to only €104 million in 2012. However, 2013 ended with a much higher figure of €270 million.
Data from the Central Bank show that 2007 was the most successful year for Macedonia in terms of FDI, when it recorded FDI of €506 million.
[h=1]Foreign Investors Shy Away From Macedonia[/h]Despite being ranked as the region’s top country for doing business, Foreign Direct Investment, FDI, is down this year in Macedonia compared to the same period in 2013.
Sinisa Jakov Marusic
[COLOR=#666666 !important]BIRN[/COLOR]
[COLOR=#666666 !important]Skopje[/COLOR][TABLE="class: photocaption, width: 1, align: right"]
[TR]
[TD]
[/TR]
[TR]
[TD]Macedonian PM Nikola Gruevski at a groundbreaking ceremony | Archive photo
[/TD]
[/TR]
[/TABLE]
In the first eight months of 2014, Macedonia attracted €176 million in FDI, which was 11 €million less than the same period last year, data from the Central Bank show.
Macedonia attracted only €251 million in FDI in 2013, which was the worst score in the region, below Kosovo, which attracted slightly more - €259 million.
By contrast, Montenegro, which has a population one-third of the size of Macedonia's, attracted almost €350 million in FDI in 2013. Albania attracted €920 million in foreign investment, Serbia €780 million while Bosnia and Herzegovina ended the year with €300 million.
The disappointing data come only one week after the World Bank's latest “Doing Business” report ranked Macedonia the region's leader in terms of ease in doing business. It was ranked in 30th place overall, moving up one place from last year.
The government used the ranking to boast about its focus on attracting FDI. However, economic experts say that such rankings are an unreliable guide to a country's ability to attract foreign investment.
“We are mostly attracting investors thanks to the government subsidies we offer. In the long term, this is potentially dangerous because these investors might leave the country once the subsidies run out,” economic analyst Slobodan Najdovski observed.
In the last few years, Macedonia has offered investors various benefits, ranging from tax cuts and tax exemptions to subsidies for employees’ wages, social and healthcare costs.
Macedonia also offers investors who spend more than €400,000 and employ at least ten people the right to obtain citizenship.
The latest legal change allows foreign investors to purchase the land where they have started factories in the free economic zones, which is now in state ownership.
Prime Minister Nikola Gruevski, who has held power since 2006, is currently leading an economic roadshow in the United States. Before that, he showecased the investment opportunities in Macedonia in Canada.
“This issue of FDI is complex. It depends on many different circumstances other than reports, roads, trade agreements and the ability to export,” Najdovski noted.
FDI in Macedonia in past years has seen drastic fluctuations, which were often attributed to the effects of the global economic crisis.
Investment saw a sharp decline from a figure of €337 million in 2011 to only €104 million in 2012. However, 2013 ended with a much higher figure of €270 million.
Data from the Central Bank show that 2007 was the most successful year for Macedonia in terms of FDI, when it recorded FDI of €506 million.
Zoran
Μακεδоν τ
Foreign Investors Shy Away From Macedonia :: Balkan Insight
Foreign Investors Shy Away From Macedonia
Despite being ranked as the region’s top country for doing business, Foreign Direct Investment, FDI, is down this year in Macedonia compared to the same period in 2013.
Sinisa Jakov Marusic
[COLOR=#666666 !important]BIRN[/COLOR]
[COLOR=#666666 !important]Skopje[/COLOR][TABLE="class: photocaption, width: 1, align: right"]
[TR]
[TD][/TD]
[/TR]
[TR]
[TD]Macedonian PM Nikola Gruevski at a groundbreaking ceremony | Archive photo[/TD]
[/TR]
[/TABLE]
In the first eight months of 2014, Macedonia attracted €176 million in FDI, which was 11 €million less than the same period last year, data from the Central Bank show.
Macedonia attracted only €251 million in FDI in 2013, which was the worst score in the region, below Kosovo, which attracted slightly more - €259 million.
By contrast, Montenegro, which has a population one-third of the size of Macedonia's, attracted almost €350 million in FDI in 2013. Albania attracted €920 million in foreign investment, Serbia €780 million while Bosnia and Herzegovina ended the year with €300 million.
The disappointing data come only one week after the World Bank's latest “Doing Business” report ranked Macedonia the region's leader in terms of ease in doing business. It was ranked in 30th place overall, moving up one place from last year.
The government used the ranking to boast about its focus on attracting FDI. However, economic experts say that such rankings are an unreliable guide to a country's ability to attract foreign investment.
“We are mostly attracting investors thanks to the government subsidies we offer. In the long term, this is potentially dangerous because these investors might leave the country once the subsidies run out,” economic analyst Slobodan Najdovski observed.
In the last few years, Macedonia has offered investors various benefits, ranging from tax cuts and tax exemptions to subsidies for employees’ wages, social and healthcare costs.
Macedonia also offers investors who spend more than €400,000 and employ at least ten people the right to obtain citizenship.
The latest legal change allows foreign investors to purchase the land where they have started factories in the free economic zones, which is now in state ownership.
Prime Minister Nikola Gruevski, who has held power since 2006, is currently leading an economic roadshow in the United States. Before that, he showecased the investment opportunities in Macedonia in Canada.
“This issue of FDI is complex. It depends on many different circumstances other than reports, roads, trade agreements and the ability to export,” Najdovski noted.
FDI in Macedonia in past years has seen drastic fluctuations, which were often attributed to the effects of the global economic crisis.
Investment saw a sharp decline from a figure of €337 million in 2011 to only €104 million in 2012. However, 2013 ended with a much higher figure of €270 million.
Data from the Central Bank show that 2007 was the most successful year for Macedonia in terms of FDI, when it recorded FDI of €506 million.
Deswegen ist es ja gerade so wichtig das unsere Regierung weitsichtig ist und dementsprechend den Hebel dort angesetzt hat.
Pozdrav
G
Gast3013
Guest
Der wievielte User ist das hier eigentlich, der erkannt hat was für ein komplexbeladener Tatsachenverdreher du bist? Dir ist doch nicht mehr zu helfen, du arme Seele ... geh mal an die frische Luft, in dein Disney-Park vor deiner Donald Duck Statue und halt die Fresse!
Zoran
Μακεδоν τ
Zoran
Μακεδоν τ
[h=3]Exports grew faster than imports in Macedonia[/h]Labels: Export, Industrie, Wirtschaft
In the first 10 months of this year, exports grew by 19 and imports by 13 percents compared to the same period last year, and the exchange became more balanced. The coverage of imports by exports, from 64.5% last year, rose to 68.1%.
The European Union remains our key market, with Germany as the most important trade partner of Macedonia. In exchange with this country, we have surplus of over billion dollars. Within the first five “major trading partners,” with which we accomplish over half of the exchange are Great Britain, Greece, Serbia, and Italy.
Leading export products of the country, for the most part are products from the free economic zones. The catalysts from “Johnson Matthey”, machinery, and transport equipment manufactured by other companies have growth of 94 percents. Among the most traded export products are Ferro-nickel, iron, and steel. Companies from zone only this year alone, delivered products worth over billion euros.
-It means that we are on track to achieve what we projected that this year we will have increase of 50% of the exports from the free economic zones, compared with last year, said Viktor Mizo, Director of free economic zones.
In ten months of this year, total trade exceeded $ 10 billion. Across borders, we have sent goods and services worth over 4 billion, and we have imported in value of more than six billion. The trade deficit is under two billion dollars
In the first 10 months of this year, exports grew by 19 and imports by 13 percents compared to the same period last year, and the exchange became more balanced. The coverage of imports by exports, from 64.5% last year, rose to 68.1%.
The European Union remains our key market, with Germany as the most important trade partner of Macedonia. In exchange with this country, we have surplus of over billion dollars. Within the first five “major trading partners,” with which we accomplish over half of the exchange are Great Britain, Greece, Serbia, and Italy.
Leading export products of the country, for the most part are products from the free economic zones. The catalysts from “Johnson Matthey”, machinery, and transport equipment manufactured by other companies have growth of 94 percents. Among the most traded export products are Ferro-nickel, iron, and steel. Companies from zone only this year alone, delivered products worth over billion euros.
-It means that we are on track to achieve what we projected that this year we will have increase of 50% of the exports from the free economic zones, compared with last year, said Viktor Mizo, Director of free economic zones.
In ten months of this year, total trade exceeded $ 10 billion. Across borders, we have sent goods and services worth over 4 billion, and we have imported in value of more than six billion. The trade deficit is under two billion dollars
Zoran
Μακεδоν τ
[h=3]Unemployment in Macedonia fell at historic low level[/h]Labels: Arbeitsmarkt
The unemployment rate in the third quarter of this year was 27.9 percent and it is decreased compared to the previous quarter to 0.3 percent in the third quarter last year by 0.8 percent, according to data from the State Statistical Office.
The number of unemployed in the third quarter was 267,428 persons out of active population of 690 965 people. The rate of activity in this is 57.3 percents and the employment rate is 41.3 percents.
Among the unemployed more than half, i.e. 61.1 percents are men and 38.9 percents women.
From 15 to 24 years were 50 275 unemployed people, from 25 to 49 years are 165,325 unemployed persons and from 50 to 64 years, the number of unemployed persons was 51 458 people.
The unemployment rate in the third quarter of this year was 27.9 percent and it is decreased compared to the previous quarter to 0.3 percent in the third quarter last year by 0.8 percent, according to data from the State Statistical Office.
The number of unemployed in the third quarter was 267,428 persons out of active population of 690 965 people. The rate of activity in this is 57.3 percents and the employment rate is 41.3 percents.
Among the unemployed more than half, i.e. 61.1 percents are men and 38.9 percents women.
From 15 to 24 years were 50 275 unemployed people, from 25 to 49 years are 165,325 unemployed persons and from 50 to 64 years, the number of unemployed persons was 51 458 people.
Zoran
Μακεδоν τ
Gentherm Announces New Manufacturing Facility In Macedonia
- - - Aktualisiert - - -
[h=3]Macedonian GDP Rises 4.1% in Q3[/h]Labels: Finanzen, Wirtschaft
The growth rate of the Gross Domestic Product (GDP) in the third quarter of 2014 was 4.1%, says the State Statistical Office.
In this quarter, the biggest increase was recorded in Manufacturing by 16.6%; Arts, entertainment and recreation; Other service activities; Activities of households as employers; undifferentiated goods- and services-producing activities of households for own use by 11.6%; Professional, scientific and technical activities; Administrative and support service activities by 8.2%; and Financial and insurance activities by 7.5%.
In the third quarter of 2014, Household final consumption, including Non-profit institutions serving households, increased by 1.7% in nominal terms compared to the same period of 2013, and its share in the GDP structure was 67.9%.
In the same period, Export of goods and services increased by 13.6% in nominal terms, while Import of goods and services increased by 10.8%.
The GDP rose by 3.2 and 4.4 percent in Q1 and Q2 respectively.
- - - Aktualisiert - - -
[h=3]Macedonian GDP Rises 4.1% in Q3[/h]Labels: Finanzen, Wirtschaft
The growth rate of the Gross Domestic Product (GDP) in the third quarter of 2014 was 4.1%, says the State Statistical Office.
In this quarter, the biggest increase was recorded in Manufacturing by 16.6%; Arts, entertainment and recreation; Other service activities; Activities of households as employers; undifferentiated goods- and services-producing activities of households for own use by 11.6%; Professional, scientific and technical activities; Administrative and support service activities by 8.2%; and Financial and insurance activities by 7.5%.
In the third quarter of 2014, Household final consumption, including Non-profit institutions serving households, increased by 1.7% in nominal terms compared to the same period of 2013, and its share in the GDP structure was 67.9%.
In the same period, Export of goods and services increased by 13.6% in nominal terms, while Import of goods and services increased by 10.8%.
The GDP rose by 3.2 and 4.4 percent in Q1 and Q2 respectively.
Zoran
Μακεδоν τ
[h=1]CBRE GOES MAZEDONIEN[/h]Kooperation mit CBS International DOOEL Skopje
Autor: Gerhard Rodler
CBRE hat mit CBS International DOOEL Skopje, einem gewerblichen Immobiliendienstleister in Mazedonien, ein Partnerabkommen unterzeichnet. Der Vertrag folgt dem Erwerb des Unternehmens von IMPACT-CORTI in der Tschechischen Republik und der Slowakei im Jahr 2013.
CBS International DOOEL wurde vor Kurzem von Dragan Radulovic gegründet, der auch eine Tochtergesellschaft von CBRE in Serbien – CBS International d.o.o Belgrad – sowie CBS International d.o.o Herceg Novi – in Montenegro gegründet hat.
Zu Beginn wird Radulovic als Geschäftsführer des neuen mazedonischen Unternehmens agieren und zusammen mit fünf weiteren sehr erfahrenen Immobilienberatern aus Skopje arbeiten. Gemeinsam bieten sie ganzheitliche Beratungs- und Dienstleistungsservices für den Immobilienmarkt an.
CBRE goes Mazedonien | Immobilien Magazin
- - - Aktualisiert - - -
[h=1]Macedonia seeks Saudi investment[/h]
Arab News – 2 hours 0 minutes ago
The visiting Macedonian Prime Minister Nikola Gruevski called on the Saudi businessmen in Riyadh on Monday to invest profusely in his country for attractive dividends.
The meeting with the Saudi businessmen was organized in cooperation with the Riyadh Chamber of Commerce and Industry (RCCI).
On behalf of the Saudi team, RCCI Chairman Abdul Rahman Al-Zamil led the discussions. Secretary-General of RCCI Mohamad bin Hamad Alketheri also took part in the discussions.
Stressing the depth of trade relations between the two countries, Al-Zamil said the two parties should identify viable trade opportunities in the two countries.
"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 local businessmen here. He added that the Macedonia's geographical location, agricultural and tourist potentials can open the doors for fruitful and profitable investment.
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 Finance Minister 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, RCCI 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 and other attractive conditions for doing business will boost the trade exchange between Saudi Arabia and Macedonia, Al-Ajmi said.
Gruevski also called on Crown Prince Salman, deputy premier and minister of defense, on Monday. The meeting was the first one at this level since the establishment of diplomatic ties between the two countries.
During the meeting, the two dignitaries expressed readiness for further development of the bilateral relations and shared opinions for boosting the economic and political cooperation in all spheres of mutual interest.
Stavreski and Minister of Finance Ibrahim Al-¬Assaf, signed an agreement on avoiding double taxation, an additional step to facilitating the possible cooperation and trade exchange between the two countries .
"We have tackled numerous political and economic topics, including the possibilities for Saudi Arabian companies to invest in Macedonia. Saudi Arabia has been practicing to disperse its capital across the globe by buying stocks, investing in various projects and in this respect I have presented Macedonia as an excellent destination for doing business," Gruevski said after the meeting.
Copyright: Arab News © 2014 All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
https://en-maktoob.news.yahoo.com/macedonia-seeks-saudi-investment-070640620--finance.html
Autor: Gerhard Rodler
CBRE hat mit CBS International DOOEL Skopje, einem gewerblichen Immobiliendienstleister in Mazedonien, ein Partnerabkommen unterzeichnet. Der Vertrag folgt dem Erwerb des Unternehmens von IMPACT-CORTI in der Tschechischen Republik und der Slowakei im Jahr 2013.
CBS International DOOEL wurde vor Kurzem von Dragan Radulovic gegründet, der auch eine Tochtergesellschaft von CBRE in Serbien – CBS International d.o.o Belgrad – sowie CBS International d.o.o Herceg Novi – in Montenegro gegründet hat.
Zu Beginn wird Radulovic als Geschäftsführer des neuen mazedonischen Unternehmens agieren und zusammen mit fünf weiteren sehr erfahrenen Immobilienberatern aus Skopje arbeiten. Gemeinsam bieten sie ganzheitliche Beratungs- und Dienstleistungsservices für den Immobilienmarkt an.
CBRE goes Mazedonien | Immobilien Magazin
- - - Aktualisiert - - -
[h=1]Macedonia seeks Saudi investment[/h]
Arab News – 2 hours 0 minutes ago
View PhotoArab News - BUSINESS MEET: Macedonian Prime Minister Nikola Gruevski, left, is seen with RCCI Chairman Abdul Rahman Al-Zamil at the business meeting held in Riyadh on Monday
The visiting Macedonian Prime Minister Nikola Gruevski called on the Saudi businessmen in Riyadh on Monday to invest profusely in his country for attractive dividends.
The meeting with the Saudi businessmen was organized in cooperation with the Riyadh Chamber of Commerce and Industry (RCCI).
On behalf of the Saudi team, RCCI Chairman Abdul Rahman Al-Zamil led the discussions. Secretary-General of RCCI Mohamad bin Hamad Alketheri also took part in the discussions.
Stressing the depth of trade relations between the two countries, Al-Zamil said the two parties should identify viable trade opportunities in the two countries.
"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 local businessmen here. He added that the Macedonia's geographical location, agricultural and tourist potentials can open the doors for fruitful and profitable investment.
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 Finance Minister 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, RCCI 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 and other attractive conditions for doing business will boost the trade exchange between Saudi Arabia and Macedonia, Al-Ajmi said.
Gruevski also called on Crown Prince Salman, deputy premier and minister of defense, on Monday. The meeting was the first one at this level since the establishment of diplomatic ties between the two countries.
During the meeting, the two dignitaries expressed readiness for further development of the bilateral relations and shared opinions for boosting the economic and political cooperation in all spheres of mutual interest.
Stavreski and Minister of Finance Ibrahim Al-¬Assaf, signed an agreement on avoiding double taxation, an additional step to facilitating the possible cooperation and trade exchange between the two countries .
"We have tackled numerous political and economic topics, including the possibilities for Saudi Arabian companies to invest in Macedonia. Saudi Arabia has been practicing to disperse its capital across the globe by buying stocks, investing in various projects and in this respect I have presented Macedonia as an excellent destination for doing business," Gruevski said after the meeting.
Copyright: Arab News © 2014 All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
https://en-maktoob.news.yahoo.com/macedonia-seeks-saudi-investment-070640620--finance.html