Analysis 13 Feb 17

Macedonia Pays Dear to Lure Foreign Investors

Macedonia spent at least 150 million euros on attracting foreign investments over the last decade, a study of budget bills shows – over half the value of the investments that the country attracted.

Aleksandar Janev
BIRN
Skopje
The industrial development zone near Skopje. Photo: MIA

The authorities in Macedonia in the last ten years have spent at least 148.7 million euros on attracting foreign investment, FDI, and on marketing, promoting and constructing technological industrial development zones.

This is the figure that emerges from a detailed search of all the final bills of Macedonia’s national budgets from 2007 to 2015. The data for 2016 were obtained from the last budget rebalance for that year.

The search using the key words “foreign investments” revealed that most of the money has been spent via two key institutions set up for this purpose.

These are the Agency for Foreign Investments and Promotion of Exports and the Directorate for Technological Industrial Development Zones, DTIRZ.

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