Terming Macedonia as the Gateway to Europe, its Prime Minister Nikola Gruevski today wooed Indian businessmen to invest in his country saying it offered several advantages, including reduced manufacturing cost, for setting up enterprises.
"Our government offers several benefits to businesses. One of the advantage is that you (industrialists) can start a business in just four hours. We offer reduced manufacturing costs, cut in customs duties and very competitive labour costs," he said at an interactive session organised by the Confederation of Indian Industry (CII) here.
He noted that India and Macedonia shared common interests in exploring the business opportunities of mutual interest.
Referring to a World Bank report, he said the Southeast European country which was ranked 94 eight years ago has now been ranked in the list of first 30 countries suitable for making investments.
"Companies coming to Europe see, Macedonia as the Gateway to Europe," Gruevski, on his second visit to India, said.
Referring to his interaction with Prime Minister Narendra Modi at the ongoing Vibrant Gujarat Summit, he said the two governments recently signed a treaty to avoid double taxation and protection of investors agreement.
"Yesterday, I met the new Prime Minister Narendra Modi. I think our cooperation and passion would take forward and strengthen our relations," he said.
Referring to low cost for running businesses in Macedonia, Gruevski said the government has four free economic zones and were targeting to open 10 more such zones by end of this year, which offer benefits like tax holiday, 99 year leasing period, for companies setting up units in such areas.
According to Macedonia Minister in-charge of Investments Jerry Naumoff, the availability of skilled workforce, protection of overseas investments, infrastructure facilities and accessibility to 650 million market were the some of the "great reasons" to invest in his country.
He said the focus sector for promoting trade and industry is service industry, information and communication technology, agricultural, food processing, film industry.
Macedonia Ambassador to India Toni Atanasovski said that during the meeting between Modi and Gruevski, "We have discovered that we share same passion and interest. It is very important for us.
