BYTYQI AND DESPOTOVSKI: WE CREATE DEVELOPMENT BY SUPPORTING INVESTMENTS OF DOMESTIC AND FOREIGN COMPANIES

The possibilities for investments and support from the country especially for domestic companies, future measures as well as the presentation of examples of Macedonian companies that are building success stories with the support of the state was the focus of today’s panel discussion dedicated to the economy and investments. The event was organized by the Deputy Prime Minister of the Republic of North Macedonia, in charge of economic issues and coordination with the economic departments and investments, Fatmir Bytyqi, and the director of TIDZ, Jovan Despotovski, and the panel includes businessmen and former Prime Minister Dimitar Kovacevski. Deputy Prime Minister Bytyqi emphasized that for the first time, domestic companies have more financial support compared to foreign investors and that the support has grown by almost 13 times in the last six years.

“I can proudly say that our efforts in supporting domestic companies through the Law on Financial Support of Investments are showing concrete results. The first thing we did was to equalize the conditions for financial support of domestic and foreign companies. From zero-supported companies in 2016 to 919 today, our commitment to economic development and innovation is becoming a reality. In six years, the government has supported them with around 100 million euros for their investments, which are over 500 million euros.”

This panel, attended by businessmen and experts, emphasized the synergy between the Government and the private sector to stimulate economic growth. The participants had a rare chance not only to learn about the latest trends in investments but also to actively participate in the creation of a strategy for the future of the Macedonian economy.

The director of TIDZ, Jovan Despotovski, indicated that only in TIDZ in the last three years, contracts worth one billion euros have been reached, which is equal to the level of investments in TIDZ from 2006 to 2020.

“We showed that we know and that we can. From groundbreaking to strategic investments, we’ve proven time and time again that we not only understand the game, but we also play it well all the time, not just at halftime. We started playing in the European and World League, with Yageo, Gerresheimer, and others, and we also have many domestic success stories.”

Sanja Lazarevska, owner of the company For Lady, and Filip Arsov, co-owner of Synapse Aviation, shared their successes and challenges, giving insight into the real impact of government policies on domestic companies. Both of them pointed out that the domestic companies’ support programs helped them realize their plans and develop their companies.

Former Prime Minister Kovacevski emphasized that – “economic stability and investment support were always at the top of our priorities, and today we can see the fruits of those efforts.”

“The government I led invested significant resources in the private sector, which enabled investment growth and wage increases, even in times of great challenges. We set a target of 500 euros average salary, today it is 650 euros or 290 euros more than the years before 2017. Our Euro-Atlantic orientation brought the highest level of foreign direct investment of 754 million euros because investors want a stable and safe investment environment. The opportunities for the development of companies will increase even more with the membership of North Macedonia in the EU, and therefore it is important to continue the European path. This road brings a better standard of living for citizens, better work for companies, and additional funds for the development of our economy. There is still a lot to be done.”

At this panel discussion, businessmen gave their suggestions for future measures that domestic companies need, as well as concrete steps that should be taken to ensure a sustainable economic future for the country.

The possibilities for investments and support from the state especially for domestic companies, future measures as well as the presentation of examples of Macedonian companies that are building success stories with the support of the state was the focus of today’s panel discussion dedicated to the economy and investments. The event was organized by the Deputy President of the Government of the Republic of North Macedonia, in charge of economic issues and coordination with the economic departments and investments, Fatmir Bytyqi and the director of TIDZ, Jovan Despotovski, and the panel includes businessmen and former Prime Minister Dimitar Kovacevski. Deputy Prime Minister Bytyqi emphasized that for the first time domestic companies have more financial support compared to foreign investors, and that the support has grown by almost 13 times in the last six years.

“I can proudly say that our efforts in supporting domestic companies through the Law on Financial Support of Investments are showing concrete results. The first thing we did was to equalize the conditions for financial support of domestic and foreign companies. From zero supported companies in 2016 to 919 today, our commitment to economic development and innovation is becoming a reality. In six years, the Government has supported them with about 100 million euros for their investments, which are over 500 million euros.”

This panel, attended by businessmen and experts, emphasized the synergy between the Government and the private sector to stimulate economic growth. The participants had a rare chance not only to learn about the latest trends in investments, but also to actively participate in the creation of a strategy for the future of the Macedonian economy.

The director of TIDZ, Jovan Despotovski indicated that only in TIDZ in the last three years, contracts worth one billion euros have been reached, which is equal to the level of investments in TIDZ from 2006 to 2020.

“We showed that we know and that we can. From groundbreaking to strategic investments, we’ve proven time and time again that we not only understand the game, we play it well all the time, not just halftime. We started playing in the European and World League, with Yageo, Gerresheimer and others, and we also have many domestic success stories.”

Sanja Lazarevska, owner of the company Four Lady, and Filip Arsov, co-owner of Synapse Aviation, shared their successes and challenges, giving insight into the real impact of government policies on domestic companies. Both of them pointed out that the domestic companies’ support programs helped them realize their plans and develop their companies.

Former Prime Minister Kovacevski emphasized that – “economic stability and investment support were always at the top of our priorities, and today we can see the fruits of those efforts.”

Our Euro-Atlantic orientation brought the highest level of foreign direct investment of 754 million euros because investors want a stable and safe investment environment. The opportunities for the development of companies will increase even more with the membership of North Macedonia in the EU, and therefore it is important to continue the European path. This road brings a better standard of living for citizens, better work for companies, additional funds for the development of our economy. There is still a lot to be done.”