A technology zone allocated for Turks

Jovan Despotovski, General Manager of North Macedonian Technological Industrial Development Zones, said that in the last 6 months, many companies have applied to them either to start operations in North Macedonia or to expand their existing investments. Stating that there are Turkish companies, some of which are new investors, Despotovski gave the following information about the opportunities offered to investors: “The free trade zones we call TIDZ serve as a focus and liaison mission. There are 14 regions located close to the main roads and the international airport. There are 34 foreign investors from the U.S., Canada, China, Germany, Italy and Turkey in these regions, which are located on an area of 220 hectares. These companies accounted for 47% of the country’s exports, valued at EUR 3.3 bn, in 2020. The economy in these free zones grew by 30% compared to the same period of 2019, breaking a record for the last four years. The May figures also point to a similar trend. We have a one-stop service concept for newcomers. They can get all services, such as license, customs information, land, government incentives, and work permits from a single point. We also provide free preliminary market analysis service for potential investors. A 10-year exemption from personal and income tax is envisioned. There are incentives up to 10% of the investment costs. We are expanding our 50-hectare area in Gevgeli, on the Greek border, to 120 hectares, and we reserve it for investors from Turkey. Our negotiations with ITO on this continue. We will also create a special zone for health investments.”