Prime Minister Nikola Gruevski on Wednesday was joined by Visar Fida, minister without portfolio in charge of attracting foreign investments, and Viktor Mizo, director of the Directorate for Technological and Industrial Development Zones, for a meeting with several entrepreneurs in the Austrian city of Vienna.

The meeting, organized by the Federation of Austrian Industries, was attended by representatives of companies of several sectors including real estates, technological industry, telecommunications and IT industry, energy and metalworking.

Premier Gruevski praised the excellent political and economic relations with Austria, which is recognized as a vital business partner in Macedonia. “The growing number of Austrian companies existing on the Macedonian market also plays a key role in the development of bilateral relations.”

“The Republic of Macedonia has a positive business climate and the country was ranked 30^th in this year’s Doing Business report of the World Bank. In the report, Macedonia is ranked better than 16 EU countries and better than almost all Central and Eastern European countries,” PM Gruevski noted.

Macedonia, he added, offers the lowest costs for running a business in Europe, which has prompted many companies - especially those in the automotive and technological industry - to invest in the country.

The Macedonian PM pointed out the reforms implemented to reduce red tape through the Regulatory Guillotine Project with which thousands of procedures have been abolished or made cheaper and quicker for companies. Free trade agreements signed with all European countries, except Russia and including Turkey, and with CEFTA countries and EFTA organizations were also presented.

“Many companies have invested in Macedonia taking advantage of this favourable opportunity to produce and sell products for these foreign markets without paying duties,” stated Gruevski.

Furthermore, Viktor Mizo presented the benefits of 14 technological and industrial development zones located all across Macedonia, such as exemption from paying profit tax and personal tax in a ten-year period and exemption from paying duties and value added tax for imported machinery and equipment in the zones.

The Austrian businessmen attending the meeting commended Macedonia on offering favourable investment opportunities.

Soravia Group founder Hanno Soravia said he was content with the support provided by the Macedonian government.

“The investors say they have had good experiences, the investment climate in Macedonia is very good and the people are well educated. The entrepreneurs are supported by the current government. The problem is the political activities of the opposition party, which are detrimental to the efforts made to attract investments in Macedonia. I’m thankful to PM Gruevski for supporting us in all of our investment activities,” stated Hanno Soravia.

Earlier in the day, PM Gruevski visited Kapsch Group and its production plants in Vienna, where he met with its CEO Georg Kapsch, who is also the chairman of the Federation of Austrian Industries that is comprised of more than 4,200 Austrian companies.

Employing more than 5,000 people worldwide and generating total revenue of over one billion dollars, Kapsch Group is an international road telematics, information technology and telecommunications company.

“Macedonia for us is an interesting market in terms of workforce and demand. We think that the investment climate in Macedonia is very good offering various opportunities, low taxes. The Federation of Austrian Industries supports Macedonia and we are encouraging Austrian companies to invest in the country,” Kapsch stated.