Greece is third on the list of biggest foreign investors in Macedonia


       
Skopje, 1 February, 2019 - 11:36 (META) 

Will the implementation of the Prespa Agreement inject new life in the economic relations between Macedonia and Greece is a question that deserves attention, taking into account that the businessmen from both countries have several times before stressed that the name dispute is causing obstacles for a normal functioning of the economic ties and the signing of agreements in order to ease the cooperation.

Despite the political disputes, the data published by the National Bank for the period between 1997-2017 reveals that in the past 2 decades, with investments in the amount of 473 million euros, Greece is the third-ranking country on the list of biggest foreign investors in this country. Ahead of Greece on the list are Austria with investments in the amount of 637 million euros and Great Britain which invested 531 million euros.

During this period, in Macedonia, there were foreign investments in the amount of 4.7 billion euros, which means that Greece is participating with 10.1 % out of the total amount of the investments.

It is estimated that in our country there are around 300 companies with Greek capital – in the trade, the textile, the service and the heavy industry, and among the biggest investments are the purchases of Stopanska Banka Skopje by the National Bank of Greece, Okta by of Hellenic Petroleum and the cement factory Usje by Titan, Mermeren kombinat by Pavlidis Marble and Granite and Energy Delivery Solutions by of PPC.

On the other hand, out of 100 million euros of Macedonian direct investments abroad during the period between 1997-2017, there were investments in Greece in the amount of 4.7 million euros. Since then, our country has a negative investment balance i.e. it has only a return of invested capital but no new investments.