Wirtschaft Mazedoniens - Економија на Македонија - Economy of Macedonia (Rep. of)

[Zoran]

Vice PM Stavreski to present Macedonia's investment opportunities in Russia

Rostov, 9 April 2012 (MIA) - A government team led by Vice PM and Finance Minister Zoran Stavreski will present Monday country's advantages for investing before businessmen in the Russian city of Rostov.

The delegation, which also includes Minister for Foreign Investments Bill Pavleski and director of the Directorate for Technological and Industrial Zones (TIRZ), Viktor Mizo, kicks off its presentations in Rostov, followed by similar events with entrepreneurs in Krasnodar. The visit ends in Soci with presentations of Macedonia's possibilities for running a business.

The Republic of Macedonia and the Russian Federation are fostering an intensive economic cooperation. Trade exchange is a dominant form of cooperation standing at over US$700 million in 2011. Most importantly, Macedonian export to Russia marks a record-breaking increase of 140%, while Russia's export to Macedonia is nearly 28.7%.

The two countries in order to advance the overall trade relations signed in 1993 an agreement on trade and economic cooperation between the governments of Macedonia and Russia. An inter-governmental Macedonian-Russian commission for economic and scientific cooperation has been formed to monitor the implementation of the accord and to prepare adequate recommendations for improving bilateral business ties.

On Macedonian part, chairman of the Mixed Macedonian-Russian Commission is Vice PM Zoran Stavreski, while the Russian sector is led by Deputy Minister for Regional Development, Maxim Travnikov. It is estimated that cooperation needs to be boosted by opening of business offices for regular collaboration and by forming mixed Macedonian-Russian firms.

Economic cooperation i.e. the level of trade exchange with an emphasis on increasing export from Macedonia to Russia is of great importance to further strengthen the Macedonian-Russian ties.

Russian investments in Macedonia last year stand at 5.19 million euros. Given the economic and investing potential of Macedonia, the scope of foreign direct investments is considered small. It is expected Russia to launch an investment cycle in Macedonia, especially in the energy sector.

Russian pharmaceutical holding "Protek Group" has started constructing a plant in Skopje and is planned to be completed in 2015. "Lukoil" oil company is already expanding its businesses across Macedonia.

Russia is one of the countries expected to increase its investments in Macedonia in the sectors of car components, IT, agriculture, food processing, business services and outsourcing, pharmaceuticals, energy, renewable energy sources, tourism, construction and infrastructure.

Cooperation might be established involving the construction of Cebren and Galiste hydro-power plants and gasification in Macedonia.

 

[Zoran]

Government team brings fresh investments from Russia

Sochi, 12 April 2012 (MIA) - Russian company will invest EUR 6 million for the construction of a facility for processing of meat industry waste in Macedonia's east, said Vice Premier and Finance Minister Zoran Stavreski after the completion of the country's economic presentation in Russia.

"As a result of the contacts we had here with the investor, as well as previous activities by the Macedonian promoter in Moscow, we can say with high degree of certainty that a fresh Russian investment is pending in Macedonia", said Stavreski.

The plant will process meat industry waste, which is to be used for medical and other purposes following the bio-technological process.

According to Stavreski, the investor is set to come to Macedonia by the end of April and register a firm.

"Besides the importance of the investment, the most significant thing is the opening of new jobs, thus mitigating the unemployment problem in Macedonia's east", underlined the FinMin.

Tourism development zones for investment attraction and offer improvement

Skopje, 12 April 2012 (MIA) - Improvement of the general tourism offer, attraction of new investments and Macedonia's promotion as an attractive tourism destination are the goals of the draft-law for tourism development zones, which the Government adopted at its last session.

Vice Premier for Economic Affairs Vladimir Pesevski, Economy Minister Valon Saraqini and Minister of Transport and Communications Mile Janakieski said at Thursday's press conference that the law would initially encompass eight sites in Struga, Prespa, Dojran and Ohrid regions, which should be overhauled by the year-end. In this regard, the state has provided benefits for domestic and foreign investors, with the goal of more intensive infrastructure development, construction of new facilities, hotels, spa centers etc.

"Our objective is for the number of tourists visiting Macedonia to exceed one million in several years", said Vice Premier Pesevski.

According to Minister Saraqini, the law benefits include personal tax exemption in the next ten years, VAT exemption for construction materials, state assistance for each investment over EUR 10 million, as well as assistance for training of employees up to 50 percent of costs for general and 25 percent for vocational training.

The first international public call for the development zones is to be announced this summer, whereas the number of facilities built in each zone is up to the investor.

"The one who purchases the land is obliged to obtain a building permit within one year and construct the facilities within six years. Moreover, the minimum number of facilities is to be defined", said Minister Janakieski.

A total of 327,000 tourists visited Macedonia in 2011, which represents a 25.1-percent increase compared to 2010. The number of overnight stays has also increased by 35.1 percent.

 

[Zoran]

Imperial Tobacco Plans to Invest 23 Mln Euro in Macedonian Unit

Tuesday, 17 April 2012


Britain's Imperial Tobacco plans to invest 23 million euro ($30 million) in its Macedonian unit this year, the Skopje-based Economic Chamber said on Tuesday.

The investment is aimed at providing new manufacturing and packaging equipment that will increase the annual output of the Macedonian unit to 10 billion from six billion cigarettes, the Economic Chamber said in a statement quoting Richard Parratt, the general director of Skopje-based Imperial Tobacco TKS.

Macedonia, Czech Republic intensify economic cooperation

Skopje, 17 April 2012 (MIA) - Energy, infrastructure, mineral raw materials, tourism and agriculture industry are just some of the sectors where Macedonia and the Czech Republic are to intensify business cooperation.


Both countries share excellent economic relations, but the maximum capacity is still not fully utilized, assessed Economy Minister Valon Saraqini and Czech Minister of Industry and Trade Martin Kuba on Tuesday.


"I hope this is just the beginning of increasing trade cooperation, which has intensified through implementation of the Stabilization and Association Agreement that Macedonia has signed with all EU members, as well as the World Trade Organization membership", said Saraqini prior to the Macedonian-Czech Business Forum in the Economic Chamber of Macedonia.


Minister Kuba, who is part of a Czech delegation led by PM Petr Necas, voiced conviction that high-level talks would significantly contribute to improvement of bilateral relations.


"Ministers must enable higher level of economic cooperation. If they don't, they have failed in the job. Macedonia and the Czech Republic have a long-standing history of good bilateral economic relations, which have enhanced in recent years. However, they have still not reached the full potential. The main question is what are the steps that need to be undertaken for maximum utilization of this potential", added Kuba.


According to him, the purpose of his participation at the Skopje business forum was not only to present Czech companies, but also urge Macedonian firms to use the potentials offered by the Czech market.


Kuba also reiterated the Czech support to Macedonia's Euro-integration and the country's readiness to provide assistance in the EU accession talks.


At the bilateral meeting held prior to the forum, Saraqini briefed Kuba on Macedonia's investment opportunities in the sectors of energy, tourism, agriculture, mineral raw materials, IT and construction.


Interlocutors agreed that a mixed committee resulting from the bilateral free trade agreement is set to hold its session by the year-end, at which it would define the following steps towards intensification of business cooperation.


Macedonian-Czech trade exchange in 2011 amounted to US$83 million, of which US$60 imports, as well as EUR 600,000 of Czech investments.


Ministers Saraqini and Kuba agreed these numbers leave room for improvement.

Macedonian-Czech forum in Economic Chamber

Skopje, 17 April 2012 (MIA) - The Economic Chamber of Macedonia hosts Tuesday a Macedonian-Czech Business Forum, including representatives of about 20 Czech companies.


Economy Minister Valon Saraqini and Czech Minister of Industry and Trade Martin Kuba, who is part of the delegation led by PM Petr Necas paying an official visit to the Republic of Macedonia, will open the forum.


Czech companies are expected to establish contacts with Macedonian counterparts in the fields of energy, construction, security agencies etc.

 

[Zoran]

IMF: Macedonian economy to rise by two percent in 2012, 3.2 in 2013

Skopje, 18 April 2012 (MIA) - The International Monetary Fund (IMF) has projected in its latest report that Macedonia's economy will rise by two percent in 2012 and 3.2 percent in 2013. According to the international financial institution, inflation will amount to two percent in both years.


In its projection for the countries of former Yugoslavia, IMF says GDP growth will amount to 0.5 percent in 2012, one percent in 2013, whereas inflation rates will range between 2.2 and 2.4 percent.


Pertaining to regional countries, IMF projects the 2012 Serbian GDP will rise by 0.5 percent, Bosnia&Herzegovina's will stagnate, whereas Croatia's economy will shrink by 0.5 percent. A one-percent drop is also projected for Slovenia, the only EU member from the former Yugoslavia states.


In 2013, the IMF says Serbia's GDP is to rise by 3 percent, Montenegro - 1.5 percent, Slovenia - 1.4 percent, Croatia and Bosnia&Herzegovina - 1 percent each.

IDIVIDI: IMF: Macedonian economy to rise by two percent in 2012, 3.2 in 2013

Government to take EUR 250 million Deutsche Bank loan

Skopje, 18 April 2012 (MIA) - The Government has decided to take a loan in the amount of EUR 250 million from Deutsche Bank, intended for funding of the 2012 Budget and refinancing of liabilities from the Eurobond that matures in January 2013.


Vice Premier and Finance Minister Zoran Stavreski has said the Deutsche Bank loan would eliminate the necessity on use of the funds from the Precautionary and Liquidity Line (PLL) with the International Monetary Fund.


"This is a confirmation of the country's renown, since it gets a loan from a bank with the largest capital in Europe", said Stavreski.


He added that the Deutsche Bank offer was the best among three banks.


"The EUR 250 million loan has a five-year repayment period, the payment being at the end of the fifth year, with a fixed interest rate of 6.83 percent. This is an exceptionally good interest rate, taking into consideration current circumstances in Europe", underlined FinMin Stavreski.

 

[Zoran]

World Bank to allocate US$ 100 million for support of Macedonia's development policy
Skopje, 22 April 2012 (MIA) - The World Bank has expressed readiness to support Macedonia's development policy with US$ 100 million towards enhancement of competitiveness and support of reforms in economy, health, education and social affairs.


World Bank and IMF representatives, which Vice Premier and Finance Minister Zoran Stavreski met in Washington, saluted the timely Budget review in line with current developments of Europe's debt crisis, thus assisting Macedonia's economy, the Finance Ministry said in a press release.


Moreover, the WB/IMF officials stressed that the favorable conditions under which Deutsche Bank has approved a EUR 250 million loan for Macedonia represent a confirmation of the good image that the country has at the international capital market.


In the framework of the WB/IMF Spring Meetings in Washington, FinMin Stavreski met with IMF Executive Director Menno Snel, WB Vice President Philippe Le Houerou and country director Jane Armitage, reads the press release.

 

[Zoran]

Soft Drinks in Macedonia - Continuous Strong Growth During 2011
Dallas, TX -- (SBWIRE) -- 04/23/2012 -- Soft drinks experienced strong growth in both volume and value terms in 2011, with growth strong through both off-trade and on-trade channels. In the wake of the global recession, economic recovery led to improving consumer confidence and rising disposable income levels in 2011, resulting in strongly positive results for soft drinks. The efforts of the Macedonian government to promote inbound travel and tourism have led to a 25% increase in the number of foreign tourists visiting Macedonia in 2011, which made a solid contribution to the positive growth recorded in consumer foodservice and on-trade sales of non-alcoholic drinks, soft drinks in particular.


Off-trade and on-trade sales of soft drinks thrive during 2011
Sales of soft drinks thrived in Macedonia during 2011 as consumer confidence increased and the economic recovery picked up pace as the country’s economy developed at a more rapid rate than the majority of European countries. Macedonian consumers returned to their favourite soft drinks in 2011 and quickly abandoned the lower priced substitutes which flooded the market during 2009 and 2010. On-trade growth was slightly stronger in value terms, while off-trade sales performed better in volume terms. The volume and current value growth registered in soft drinks in Macedonia during 2011 was twice the respective CAGRS recorded over the entire review period. Off-trade growth in 2011 was characterised by a greater consumer focus on value for money as well as the noticeable shift by major soft drinks manufacturers toward juice drinks (up to 24% juice), which have lower fruit content but, in many cases, offer higher product quality. The average unit price of soft drinks increased through both off-trade and on-trade channels in 2011.


Viva is the leading brand, while Sinalco posts the fastest growth and Skopska is the leading company
Viva was the leading soft drinks brand in Macedonia during 2011 in value terms, while Pivara Skopje AD was the leading soft drinks producer in value terms. Pivara Skopje maintained its leadership largely due to its distributorship of Coca-Cola brands, although the company continues to lose ground in volume terms and if current trends continue, it is only a matter of time before the company finds itself under threat from its second and third ranked rivals. Sinalco was the fastest growing brand in soft drinks in Macedonia in 2011 in both volume and value terms. There is a growing trend among the majority of Macedonian consumers of switching to lower priced alternatives, a trend which benefited brands such as Sinalco which are positioned in the economy segment. The bankruptcy of M i A Beverages in 2010 left a significant portion of soft drinks open, specifically in fruit/vegetable juice and RTD tea. This helped Viva advance its position as the brand captured larger volume and value shares in soft drinks in 2011.


Buy your copy of this report @ Soft Drinks in Macedonia : ReportsnReports
Independent small grocers dominates although Supermarkets and hypermarkets close in Independent small grocers remain the dominant distribution channel for soft drinks in Macedonia. However, with the emergence of new large format grocery retailers such as supermarkets and hypermarket across Macedonia means that these distribution channels are poised to take over the leading positions in the distribution of soft drinks from independent small grocers, many of which will find it increasingly difficult to compete both in terms of the price and quality of the soft drinks they offer. Supermarkets and hypermarkets are increasingly expanding across Macedonia and the wide range of products which they offer means that there is an increasingly diverse range of soft drinks available through off-trade channels. Supermarkets and hypermarkets often host in-store presentations and price promotions, which help certain brands to expand consumer awareness and increase sales. During the forecast period, independent small grocers and large format modern grocery retailers such as supermarkets and hypermarkets will play equally important roles in the distribution of soft drinks. Discounters remains the fastest growing retail distribution channel for soft drinks, although its sales through discounters accounts for a relatively low proportion of overall soft drinks volume sales as KAM dooel remains the only discounter present in Macedonia.


Volume and value sales growth to slow down within forecast period
The growth which is expected in soft drinks in Macedonia over the forecast period will be slightly lower than the growth recorded during the review period. One of the major reasons for this slowdown is that Macedonia’s soft drinks industry is more or less saturated and without significant growth in inbound tourism, volume sales are expected to grow only moderately. Growth in soft drinks in Macedonia will rely largely on domestic consumption and thus, it is expected that the industry will achieve moderate growth in both volume and constant value terms as the disposable incomes of Macedonian consumers will continue to face limitations as a result of the low level of global competitiveness in the Macedonian national economy.

Soft Drinks in Macedonia - Continuous Strong Growth During 2011

 

[Zoran]

Gruevski: Macedonia, fourth least indebted country in Europe

Star Dojran, 23 April 2012 (MIA) - Government's economic policies have proven to be correct, especially the early repayment policy, which has contributed to the fourth lowest indebtedness rate in Europe at 26 percent of the GDP, said Prime Minister and VMRO-DPMNE leader Nikola Gruevski at a party debate in Star Dojran late on Monday.
Gruevski referred to all fields of Government's operations, which occurred in conditions of global recession and European debt crisis.
"The Government remains fully committed to agriculture reforms, including EUR 130 million for subsidies, the new anti-crisis measures that have mitigated the crisis effects, as well as reforms in social policy, education, administration, judiciary and tourism", he added.
With regards to crime and corruption, Gruevski said non-selective fight with zero tolerance would continue.
Pertaining to the Smilkovci murders, he emphasized the MoI is faced with an enormous challenge, adding his belief that perpetrators would be found and brought before the face of justice.
Gruevski said Macedonia has met all reforms for NATO and EU accession, whereas a dignified solution to the name row with Greece would be sought, one that gets its blessing from the people.
VMRO-DPMNE also held a debate in Demir Kapija, where leader Gruevski stressed the Government's commitment to economy.
According to him, Macedonia has the lowest tax rates in Europe, whereas the World Bank has declared the country top reformer in doing business in recent years.
"Macedonia is one of the countries that copes best with the crisis, which is not our assessment, but one of international financial institutions", underlined Gruevski.
​

 

[Zoran]

Macedonian companies presented at Stockholm ‘International Bazaar’
25. April 2012. | 09:18


Source: MIA
Macedonian companies have been presented at the traditional 'International Bazaar' in Stockholm, organised by the Macedonian Embassy in Sweden.


More than 2.000 visitors visited Macedonian stand where wide-range of products from "Vipro", "Vitalia" and "Lars" companies were presented. They donated some of their products for this humanitarian event and funds are intended for international project "Save the children Sweden," MIA correspondent reports from Gothenburg.


Vice President of the Swedish Parliament Susanne Eberstein, FM Carl Bildt and his wife MEP Anna Maria Corazza Bildt and President of the Council of the City of Stockholm Margareta Bjork visited Macedonian display. They expressed satisfaction from possibility to buy and to taste Macedonian food products in Sweden.


Macedonian Ambassador to Sweden Kire Ilioski thanked for the continuous Swedish support to Macedonia on political and economic plan. He emphasised that the country will continue with intensified activities for European integration and invited MEP Anna Maria Corazza Bildt to visit the Republic of Macedonia.

 

[Zoran]

Gruevski: Macedonia open to new Chinese investments
Warsaw, 27 April 2012 (MIA) - Republic of Macedonia has China's political support, and is open to new Chinese investments, said Prime Minister Nikola Gruevski after the meeting with Chinese counterpart Wen Jiabao within Economic Forum Poland-Central Europe-China, held in Warsaw.


Gruevski said after the meeting that talks tackled the excellent bilateral political relations, but focused mostly on economy.


"We referred to numerous ongoing or future projects, such as Cebren and Galiste, Vardarska Dolina, Kozjak, tourism-related projects, as well as infrastructure investments", he added.


A Macedonian Government delegation is scheduled to visit China in May, in order to present the country's investment opportunities before Chinese companies.


"We are welcome to visit several cities and meet with numerous companies, thus contributing to the economic development between the two countries, leading to the attraction of more investors", stressed PM Gruevski.


According to him, China's political support is there, what remains is enhancement of business relations.


"We confirmed to the Chinese PM that our position over placing Chinese companies in a separate free economic zone or technological-industrial development zone still stands", said Gruevski.


He emphasized that politics gives the directions, messages, and encouragement, but the companies are the ones that need to pass an investment decision.


"This meeting represented a good overture to the coming road-show in China", underlined PM Gruevski.


In the framework of the economic forum, Gruevski also met late Thursday with host, Polish PM Donald Tusk.

 

[Zoran]

Qatari companies to invest in Macedonia
Skopje, 7 May 2012 (MIA) - Representatives of Qatari state companies are visiting Macedonia to review possibilities for their investments in the country. The first investment is to be realized in opening of gas stations across Macedonia, Head of of the Directorate for Technological Industrial Development Zones Victor Mizo told reporters after Monday's meeting of Prime Minister Nikola Gruevski with the visiting Qatari delegation.


Representatives of the 'Qatar Fuel' visited Macedonia and its potentials to that effect few years ago and made greatest progress in analysing the local market, Mizo said. The company is also interested in providing fuel depot for serving the entire Balkan market, he added.


Today's meeting also reviewed the possibilities for Qatari investments in food production, processing of fruit and vegetables, as well as mutton meat for the markets of Mid-East countries.


In early April, Macedonian delegation, led by PM Gruevski, visited Doha to promote the opportunities for investing in Macedonia to Qatari companies.


Mizo said today's talks tackled the possibility for 'Qatar Holding', 'Qatar Petroleum' and 'Qatar Water and Electricity' to invest in state-operated power generator company ELEM. In this respect Mizo said that the Qatari companies were reviewing ELEM's financial results and technical potentials.


Macedonia is planning to sell 49% of ELEM, which may bring up to Euro 1,2 billion, that will be used for construction of energy facilities that will meet the interests of both the country and the investor, Mizo said.


Tomorrow, the Qatari delegation will tour Macedonia, namely visit several hydro-power plants near the capital Skopje, Mizo said.