\

Macedonia's external stability and the interest in foreign investments in certain economic and infrastructural areas were discussed Tuesday by Economy Minister Valon Saraqini and the Head of the IMF Mission to Macedonia, Ivanna Vladkova Hollar.

The IMF official said that following the talks with some of the big investors, it had been concluded that the foreign investors were satisfied with the business conditions offered in Macedonia.

"It's important to know what is the relationship between local suppliers and investors like, because according to them the increased use of local services and domestic products and equipment in their operations contributes to focusing more on domestic potentials, which are indisputably meeting the necessary criteria and standards. At the same time, the investors have pointed out that their businesses in Macedonia have reduced the unemployment rate, but the key issue that needs to be addressed is the improvement of the infrastructure, thus providing a connection for their businesses with the region and beyond," Vladkova Hollar stated at the meeting.

Saraqini said the Government and his ministry were focused on alleviating the procedures for investing and pursuing reforms related to trade policy and the mining sector in a bid to shorten deadlines for awarding new concessions and re-opening unactivated mines.

This is being confirmed by the latest Doing Business report in which Macedonia is ranked 25th for running a business and it is included in the top ten reform countries, according to the minister.

Saraqini also said that foreign investments by the end of 2013 were expected to amount to 200-250 million euros.

"In order to solve the issues the investors in Macedonia face with in their work, working meetings with them are organized on a monthly basis enabling a direct dialogue on fresh projects and ways to address challenges. Such cooperation has been developed with the entire business sector in Macedonia," he noted.

The minister added that construction works were underway on corridors 8 and 10 and on new roads as part of the Government’s programme until 2015.

"Projects are also being implemented in the energy sector and in connection to infrastructure and production capacities," Saraqini stated.

The Government’s support provided through the Macedonian Bank for Development Promotion regarding the use of a Euro 100-million credit tranche allocated by the European Investment Bank (EIB) for small and medium-sized enterprises was discussed at the meeting as well.

"Over 80% of the final tranche has been already used and a new EIB credit tranche of additional 100 million euros is expected to be approved by the year's end," Saraqini informed.