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A new opportunity for investment activities with financial support

Companies can submit requests for financial support under the Law and take advantage of opportunities to increase their competitiveness, and thus the overall economic growth in the country, was stressed at today's press conference at the Macedonian Chambers of Commerce. The businessmen from the Chamber had the opportunity to learn firsthand about the changes to the Law on Financial Investment Support, which, at the request of the business community, has increased the scope of the number of sectors, with simplified criteria especially for certain industries such as textile, leather, with a simplified application procedure.

Union President Danela Arsovska stressed that strengthening the public-private dialogue and translating the needs of the companies into quality legal solutions that will be implemented leads to the improvement of the business environment.

"The implementation of a large part of the requirements of the business community in the amendments to the Law is essential for using the funds for financial support to as many companies as possible. Increasing their competitiveness and investment activity is vital for economic development, which is one of the objectives of the Law. The reality is that the products of the small and medium-sized companies, which are the most numerous in the Macedonian economy, are difficult to market and penetrate on foreign markets. That is why, through strengthening the dialogue and implementing the proposed measures, we can expect the development of the private sector as the carrier of economic growth, stressed Arsovska, adding that the results of the implementation of the legal solution should be positive, but pointed out that what is of great importance for investment growth is a predictable business environment and a demonstration of a clear will for the rule of law.

Presenting the amendments to the Law on Financial Investment Support, Foreign Investment Minister Zorica Apostolska in the Alliance noted that the Government is conducting an open dialogue with the business community in the modeling of economic policies and with the ultimate goal of providing a higher and better quality of life for the citizens.

"With the amendments to the Law, we are improving the system of support to the economy by increasing the scope of companies that can apply for financial support of investments and simplify the administrative procedures for applying these measures. The intention is to free up the potential for serious growth accumulated in the IT sector, secondary agricultural production, as well as with companies that are engaged in trade and have started a productive investment in 2018. It also includes construction companies that have a production component in their operations, that is, they will be supported for procurement of machines and equipment. We also make additional motivation for the companies by easing the conditions for applying, "said Minister Apostolska.

Calling the companies from the Union to apply for financial support in accordance with the Law and its amendments, Minister Apostolska stressed that the Government provides legal certainty for the companies for their investments and provides financial support through transparent and open procedures.

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