Skopje, 11 July 2023 (MIA) - In 2023 there was a record number of applications from companies for state support for investments, the Government said Tuesday, which means that the business's trust in institutions is growing.

According to the Government, 2023 has seen a record of 432 applications for new investment projects from 432 companies. At its session on Tuesday, the Government approved the first group of 82 contracts, and the rest are in the process of evaluation and will be completed in the coming weeks.

"The Government’s efforts to create a partnership relation and a predictable economy are bearing fruit. These 82 companies, whose contracts for support of investments were approved today by the Government, creating new and better-paid jobs. In the first investment year in 2022 alone they created 233 new jobs, and by the end of the investment cycles, these 82 companies will create 818 new jobs. The investments these companies can make are especially important during a time of recovery from the crisis. Their investments indicate the agility and resilience of those companies, as well as the possibilities in our domestic economy. These 82 companies have invested EUR 30,8 million during the first investment year in 2022, and by the end of the investment cycles they will invest EUR 67,5 million," the Government said in a press release.

Amendments to the law on financial support of investments made in 2019 seek to ensure balanced regional development and greater support for companies in less developed regions, the press release adds.

"These 82 companies are spanning across all planning regions: the Vardar Region - 5 companies, the Eastern Region - 10 companies, Southeastern Region - 16 companies, Southwestern Region - 6 companies, Pelagonia Region - 16 companies, Polog Region - 9 companies, Northeastern Region - 5 companies, and the Skopje Region - 15 companies. Equal regional distribution of companies and the structure according to size show and prove that the law on financial support of investments provides equal opportunities for all companies in North Macedonia, regardless of their size or location. The only important thing is for companies to make investments in their development and competitive advantage, to showcase their success in their operations," the Government notes.

In the past six years, through the law on financial support of investments, since its introduction in 2017, contracts for support have been signed with 630 companies, through the Office of the Deputy PM for Economic Affairs, as a one-stop shop.

"Economic development, promoting the competitiveness of companies on the domestic and international markets, and raising the standard of living for employees, remains a top priority," the press release reads. ssh/nn/

Photo: Government of the Republic of North Macedonia