IFC Supports North Macedonia to Attract Investments and Create Sustainable Jobs

IFC, a member of the World Bank Group, has signed an advisory agreement with the state agency Directorate for Technological Industrial Development Zones (DTIDZ), to help implement an investment outreach campaign to attract investments to North Macedonia’s advanced manufacturing sectors.

The campaign aims to support sustainable job creation, help the country better integrate into global value chains, and drive economic growth. Under the agreement, IFC will support the government of North Macedonia to select potential sectors, identify companies that offer investment opportunities, and create campaign materials to attract investors.  

“To serve investors more efficiently and to attract new foreign direct investments into the Macedonian market has been our key priority. We need to reassess the types of industries and investments we can attract in order to obtain the ideal combination of labor and capital content,” said Aleksandar Mladenovski, CEO of DTIDZ.

“This outreach campaign aims to support North Macedonia’s strong efforts to attract investors in advanced manufacturing sectors. Attracting quality investments will contribute to job creation and the country’s greater economic integration in the region and with EU markets,” said Thomas Lubeck, IFC Regional Manager for Central and Southeast Europe.

The campaign, which will run until the end of 2020, is part of a program implemented by IFC in partnership with the European Union to encourage investment and cross-border trade in the Western Balkans and South-Eastern Europe. The initiative complements a €2.5 million program to prepare the economies of the Western Balkans for EU accession and to support economic development in South-Eastern Europe.
 
About IFC
 
IFC—a sister organization of the World Bank and member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. We work with more than 2,000 businesses worldwide, using our capital, expertise, and influence to create markets and opportunities where they are needed most. In fiscal year 2019, we delivered more than $19 billion in long-term financing for developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity. For more information, visit www.ifc.org