COUNCIL OF BRITISH CHAMBERS OF COMMERCE IN EUROPE

Macedonia has become an exciting place for the business seeking that special something.

Since peacefully gaining independence in 1991, Macedonia has faced many challenges in building a stable and business-ready democracy, but can finally boast success.

It has demonstrated its willingness for international commercial relationships through a series of reforms and incentive programs and was recognised in a 2007 World Bank review that placed Macedonia as the fourth best reforming country in the world.

In addition to flat tax incentives, the government has also announced an ongoing reform program that will harmonise the laws with those of the European Union (EU), opening up such things as immovable property purchasing rights for foreigners.

The pro-western, conservative government, recently re-elected in the June 2008 elections, has made a public commitment to focus on economic growth and the attraction of foreign direct investment.

For the British business community, this means that there is an accessible government, willing and proactively working to build economic relations on every level. So much so that ministers for foreign investment have been appointed and are available to ensure the smooth and rapid realisation of investments in the country.

The geographic positioning of Macedonia is such that it makes it an ideal place to base any company seeking to do business in the Balkan region, extending a reach easily as far as Turkey.

For many companies, the young and enthusiastic workforce is an attractive resource that is highly receptive to professional training. The government has this year also introduced tax incentives for companies employing new graduates.

As someone who has actively been living and working in the Balkans for over ten years, I can say with confidence that Macedonia is open for business and holds a wealth of potential for just about any business interest.

As the ideal stepping stone for servicing south-eastern Europe, Macedonia demands attention and is well worth consideration, and I am delighted to offer the assistance of the British Business Group to anyone who would like to explore new opportunities in the country.

Ray Power
Chairman, British Business Group Macedonia