About North Macedonia

Contact us

Attractive investment environment

North Macedonia is a highly interesting country for foreign investors. On the one hand, the up-and-coming economy creates an attractive domestic market, on the other hand, the economic conditions make the country particularly attractive as a near-shore location for production in Europe:

  • Salary level (2020) only 50% of e.g. Czech Republic
  • Corporate Tax capped at 10% (with exemption options)
  • Income Tax flat rate of 10% (with exemption options for expats)
  • Excellent logistics/connectivity

The North Macedonian Government supports foreign investments with various incentives. For example, there are 13 Free Economic Zones across the country in which companies enjoy various benefits, such as:

  • Corporate- and Income Tax exemptions for 10 years
  • Toll free import of raw materials
  • Grants and subsidies for job creation and CAPEX investments
  • Subsidized plots for factories in free trade zones

Facts and Figures

  • 2,1 million inhabitants
  • Area 25,710 sqkm
  • Borders with Serbia, Kosovo, Bulgaria, Greece and Albania
  • Largest Cities
    • Skopje (approx. 500k  inhabitants)
    • Kumanovo (approx. 75k  inhabitants)
    • Bitola (approx. 72k inhabitants)
    • Prilep (approx. 65k inhabitants)
  • Independent Country since 1991 
  • EU Candidate Country
  • Member of NATO
  • GDP 2021 (nominal): EUR 11.7 billion
  • GDP/Capita 2021: EUR 5,643
  • Export Rate (Exports/GDP) 2021: 58.9%
  • German Imports 2021: EUR 3.5 billion
    (chemical ores 49.9%; machinery 21.3%; electrical engineering 15.7%; textiles/clothing 6.1%; furniture and parts 2.1%; iron and steel 1.4%)
  • German Exports 2021: EUR 1.3 billion
    (building materials 22.0%; electrical engineering 17.4%; chemical ore 15.9%; machines 9.1%; textiles 8.4%; electronics 6.1%; motor vehicles and parts 6.1%)
  • Foreign direct investments 2022: EUR 753.8 million

(As of March 2023)

  • Deutsche Telekom (ca. EUR 200 million)
  • Gerresheimer (> EUR 100  million)
  • Lidl (> EUR 100 milllion)
  • Kostal (ca. EUR 50 million)
  • Kromberg & Schubert (ca. EUR 50 million)
  • Dräxlmaier (ca. EUR 50 million)