DTIDZ – Best Free Economic Zone Leadership – Balkans 2023
Technological Industrial Development Zones – the Focal Point for Investors Seeking Support to Invest in North Macedonia. Politically and economically stable, a NATO member since 2020, successive North Macedonia is attracting investment from major global companies from a broad range of industries to its Technological Industrial Development Zones (TIDZs).
The 14 Technological Industrial Development Zones have emerged as fundamental entities in North Macedonia’s economic development strategy, providing a strategic framework to promote both domestic and foreign direct investments. These specialized zones offer a confluence of incentives and facilities, making them an attractive choice for investors looking to establish their operations in the region. Acting as key drivers of economic growth by channeling investments into targeted sectors, thereby fostering innovation and technological advancements, the concentration of resources and expertise within these zones creates a ripple effect that enhances productivity, stimulates industry-wide competition, and bolsters export-oriented activities. Indeed, one of the advantages of conducting business with a relatively small country like North Macedonia is the flexibility that can be offered to investors. The government and business community in North Macedonia recognize the importance of understanding the needs and requirements of investors right from the initial discussions.
According to the annual analyses, DTIDZ in the last two years have reached investment agreements totaling more than €850m and bringing 4000 new jobs to the region, with export reaching 1.6 billion euros, showing a remarkable progress in the last five years. The last contract worth 205 million euros was with a Taiwanese world leading electronic provider, marking the biggest greenfield investment since the independence of the country, with a plan of opening over 3,900 new jobs.
As North Macedonia positions itself as an attractive investment destination, the continued success of TIDZs will undoubtedly be paramount in sustaining its upward trajectory in the global economy. By facilitating job creation, promoting skill development, and propelling local industries towards technological advancement, TIDZs stand as indispensable drivers of the nation’s economic development. The CFI.co judging panel presents DTIDZ with the 2023 Best Free Economic Zone Leadership award (Balkans).
