Macedonia, FYR, is the 10th best economy in the world for ease of doing business as measured by the 2017 World Bank Doing Business Report. It maintained macroeconomic stability through the global financial crisis through prudent monetary policy. Nevertheless, GDP growth has been sluggish since 2009. The main drivers of growth have been construction (which has been supported by public investments), manufacturing, and wholesale and retail trade.
Macedonia has actively sought to attract foreign investment, including through an extensive marketing campaign in the world’s leading newspapers, magazines, and TV stations, and through frequent government-led roadshows. Macedonian legislation places foreign investors on equal footing with their domestic counterparts, and both foreign and domestic investors have equal opportunity to participate in the privatization of remaining state-owned assets.
Macedonia has developed Technological-Industrial Development Zones (TIDZ) to promote highly productive, clean-manufacturing activities and new technologies. Investors in the TIDZs enjoy strong access to government, personal and corporate income tax exemptions for 10 years, and exemptions from value-added tax and customs duties.