Skopje, 6 June 2023 (MIA) - Deputy PM for Economic Affairs Fatmir Bytyqi met Tuesday with a visiting delegation of German companies, sharing the business opportunities and investment support.

Deputy PM Bytyqi highlighted the key factors that make North Macedonia an attractive investment destination for German companies, the Government said in a press release.

North Macedonia is strategically located as a crossroad of pan-European transport corridors VIII and X, best suited to attract a supply chain within the European continent named near-shoring. By setting up production near the European consumer centers, German companies can maximize the efficiency and effectiveness of their business processes," said Bytyqi.

The Deputy PM also briefed the German companies that North Macedonia is a signatory of multilateral conventions and has concluded a number of bilateral investment protection agreements.

Bytyqi also referred to the Government's financial support, which is predictable, first and foremost, whereas all procedures are transparent and aimed to create an equal playing field for both domestic and foreign investors.

"The support is designed to achieve several objectives, including the creation of better paid jobs, cooperation among companies and promoting technological development and innovations," said Bytyqi and also presented the AI-based public sector digital assistant ADA, the first of its kind in the region, which is available to companies for complete information regarding investment benefits and state aid.

In conclusion, the Deputy PM said North Macedonia is prepared to welcome and support German companies in their aspiration for growth and success, noting that the country offers favorable business environment, strategic advantages and strong government support.

"Together we can create strong partnerships and unlock the enormous potential of our cooperation," said Bytyqi.

Hans-Joachim Bäumler of Integra Consulting, who is heading the German delegation, thanked Deputy PM Bytyqi for the reception and presentation, saying the success of German companies operating in North Macedonia represents a strong motive for other businesses to follow suit and invest in the country, which as he said, offers a favorable business environment for further development of bilateral trade exchange.

Germany is North Macedonia's main exporting market, whereas more than 200 companies with German capital are operating in the country and employing about 20,000 people.

Photo: Government of North Macedonia