Signed Memorandum for Understanding, Investment and Trade Cooperation with the Greek Investment and Trade Agency

Cooperation with the Greek Investment and Trade Agency will be achieved through maintaining frequent and regular contacts between the two agencies for joint exchange of economic and business information which would be provided through the exchange of business delegations, organization of trade missions, seminars, fairs and business forums.

In order to establish a practical framework for cooperation between the two agencies to promote investment and trade relations, a Memorandum of Understanding in the field of investment and foreign trade was signed today in Athens between Invest North Macedonia and ENTERPRISE GREECE, Official Investment and Trade Agency of the Hellenic Republic. In order to comply with the COVID protocols, the memorandum was signed at the level of foreign ministers of the two countries during the official visit of Minister Bujar Osmani to Greece.

The two parties will exchange information on trade policies, rules, regulations, procedures, subsidies and updates of statistical and business data on a regular basis which will be achieved through the exchange of publications, magazines and directories, as well as through joint research activities to facilitate mutual trade and joint projects.

The cooperation, as stated in the Memorandum of Understanding on investment and trade cooperation, will be achieved through maintaining frequent and regular contacts between the two countries for joint exchange of economic and business information that is not confidential while supporting technical expertise, knowledge and opportunities. for training. The same would be achieved through research of business opportunities in both countries, organizing mutual visits for business cooperation, conferences, round tables, business trips to promote investment and trade opportunities in each country and other activities.

The organization of trade promotion activities would be ensured through the exchange of business delegates or trade missions, seminars, fairs and visits of experts to identify business potential and business opportunities.

Each party shall also assist the other party in organizing combined events related to business activities, merger and networking services in both countries and in a third country, which shall be mutually agreed upon.

The Memorandum of Understanding enters into force on the day of its signing and will be valid for a period of three years.

Invest North Macedonia supporting growth in domestic companies

Soko Gorica Skopje is a family company with a long tradition in the production of fruit drinks, dating back to 1994. Production capacity of over 10 000 pieces / h. Holds ISO 22000 quality system certification and IFS implementation phase.

As recipients of financial aid from the Government in terms of capital investments growth and  competitiveness, today was visited by the Director of the Agency for Foreign Investments and Export Promotion, Dejan Pavleski.

This visit was important for both parties for continuous  and improved cooperation  and support for innovative and new solutions that will increase production and thus the over all export of the country. In 2018, Soko Gorica signed an agreement for granting financial support with the Government for 5 (five) years for  justified investment costs. 

This support was a boost of the company which in fact is export-oriented and more than 95% of the products are placed on the markets in over 30 different countries, worldwide and employs 60 people who are dedicated  to the production and sale of more than 30 million juices per year.

World Bank report, Global Economics Prospects, North Macedonia 3.6% Real GDP growth rate in 2021, and 3.5% in 2022

The Global Economic Prospects (GEP) is the World Bank’s semi-annual flagship publication on the state of the world economy. The global economy is expected to expand 4% in 2021, assuming an initial COVID-19 vaccine rollout becomes widespread throughout the year, the World Bank says in its January 2021 Global Economic Prospects.

Growth in the Western Balkans is expected to rebound to 3.5 percent in 2021, assuming that consumer and business confidence are restored as COVID-19 is brought under control and that political instability eases.

Analytical sections of the latest Global Economic Prospects report examine how the pandemic has amplified risks around debt accumulation; how it could hold back growth over the long term absent concerted reform efforts; and what risks are associated with the use of asset purchase programs as a monetary policy tool in emerging market and developing economies.

While the global economy appears to have entered a subdued recovery, policymakers face formidable challenges—in public health, debt management, budget policies, central banking and structural reforms—as they try to ensure that this still fragile global recovery gains traction and sets a foundation for robust growth,” said World Bank Group President David Malpass. “To overcome the impacts of the pandemic and counter the investment headwind, there needs to be a major push to improve business environments, increase labor and product market flexibility, and strengthen transparency and governance.”

For more information, please visit link: https://www.worldbank.org/en/publication/global-economic-prospects

Intensified activities of the Agency in the sector “investor care” – a visit to Kostal, Ohrid

Despite the global health and economic crisis, investor has announced new investments and new jobs

The Director of the Agency for Foreign Investments and Export Promotion, Dejan Pavleski visited the company Kostal, a German investment in Ohrid, where he met with the director of the company Viktor Mizo.

The visit is a follow-up if the meeting, ten days ago, of the government economic team with the Foreign Investors Couucil, and is in the context of the increased activities of the Agency in the sector of investor care.

Current operations and challenges in this period of crisis crisis that companies are facing was discussed at the meeting, and the initiative of the Agency to create a systemic solution to address issues affecting the work of investors was presented.

Pavleski stressed that the care for the already present investors is one of the priorities of the Agency because the investors, when they have a positive experience from working here, decide to expand their investments to stay here. It also means new jobs and additional stimulation of the local economy. Kostal is one such example with the recent expansion of the investment with a new production hall.

The director of Kostal, Victor Mizo, expressed satisfaction with the visit and put more emphasis on “investor care”, and especially welcomed the initiative of the Agency to create a systemic solution in this sector, noting that this will greatly facilitate the work of investors. As for Kostal’s work, he said that the company continues to implement the plans despite the global health and economic crisis, announcing the creation of 250 new jobs next year, after employing 330 new people in 2020. Additionally, new, more sophisticated lines for Kostal’s state-of-the-art products are planned to be launched globally.

“We work for BMW, Mercedes, Volkswagen, Porsche, Audi, Tesla and Rolls Royce, and from next year we will work on projects for Jaguar and Land Rover, which means that over 80% of our customers are premium car manufacturers. The plan for 2021 is revenue growth of about 70% and annual exports of over 100 million euros “- said Mizo

More information about the company at the following link: https://www.kostal.com

The Agency initiates the involvement of municipalities and local businesses in the process of attracting new investments

The Agency for Foreign Investments and Export Promotion of RSM held a working meeting with representatives of municipalities and companies from the Pelagonija planning region, where it presented the initiative for their active engagement in order to provide new opportunities for interested investors and speed up the procedures for implementation of new investments.
Director Pavleski asked the representatives of the local self-government to review their plans and to identify locations that can be offered to interested investors for Greenfield investments.
Additionally, he called on the businessmen who have unused facilities to offer them to the Agency, which will offer them to interested investors who are looking for locations and opportunities for brownfield investments.

Visit to domestic companies from the food industry as part of the activities of the director

Within the activities of the Agency for Foreign Investments and Export Promotion, the director Dejan Pavleski visited two companies from the food industry, Vitaminka and Krivogashtani Promet, which have a strengthened brand position in our market and are actively working on placing their products on foreign markets.

During the visit, the director Pavleski met with Mr. Sime Stancheski, one of the owners of “Krivogashtani Promet”, a company that develops its brand Gurmano and conquers foreign markets with a plan to grow and expand its product range. The company sells its products, which use raw materials mainly obtained from the Pelagonija Region, is present in 23 countries worldwide.

The visit continued in the company Vitaminka, where the director Pavleski met with Mr. Sasho Naumoski, director of Vitaminka, one of the most successful and largest Macedonian companies, which is also among the 100 largest exporters. The range of over 400 Vitaminka products is exported to over 30 countries, and their largest export market is the countries of Southeast Europe. This year, they realized the first direct export to Japan.

The Agency considers these visits crucial in identifying areas for cooperation and ways in which the Agency can help them not only to conquer new markets but also in terms of knowledge sharing, brand development, networking with companies and joint presentation at international fairs. .