Republic of Macedonia

Transcription

August, 2013
Why Macedonia?
Competitive
Location
Excellent
Infrastructure
Competitive
& Educated
Workforce
Investment
Incentives
Investor friendly
Government
Higher Profits & Increased Competitiveness
Agency for Foreign Investments
and Export Promotion
www.investinmacedonia.com
2
Location and Transport Infrastructure
• Two Pan-European corridors:
– East-West Corridor 8
– North-South Corridor 10
• Road network: 4,370 km
• Railway network: 925 km
• Two international airports:
– Skopje
– Ohrid
• International ports*:
– Thessalonica (Greece): 80 km
– Durres (Albania): 150 km
* Distance from Border
3
Political and Economic Outlook
• Political, monetary and macroeconomic
stability;
• Strategically located for future business
expansion;
• First country in SEE to sign a SAA with the EU
in 2001;
• EU and NATO candidate country;
• FTAs with numerous countries;
• Business oriented Government;
• Welcoming and decisive government ready to
serve investors.
4
Reference
5th BEST IN STARTING A
BUSINESS RANKINGS
3rd BEST REFORMER
IN THE WORLD
World Bank’s Doing Business 2013 Report
BEST CONSECUTIVE REFORMER
OVER THE PAST THREE YEARS IN SOUTH EASTERN EUROPE
Based on the World Bank’s Doing Business Reports in 2011, 2012 and 2013
3rd BEST REFORMER
IN THE WORLD
4th IN TOTAL TAX RATE
EASE OF PAYING TAXES 2012
PwC and World Bank Group Study
5
Ease of Doing Business 2013
Global Rank
126
23
Macedonia
35
Slovenia
46
51
54
55
Slovakia
Montenegro
Hungary
Poland
65
66
71
Czech
Republic
Bulgaria
Turkey
72
Romania
84
86
Croatia
Serbia
Bosnia and
Herzegovina
6
Best Countries for Business 2012
Forbs Magazine Global Rankings
85
37
38
41
43
45
46
47
49
52
90
60
23
7
2013 Index of Economic Freedom
World Rankings
8
Ease of Paying Taxes 2012
Total Tax Rate World Rankings
102
4
21
28
36
54
63
112
119
137
143
68
PwC and World Bank Group Study
9
Foreign Investment Regime
• Macedonian Constitution guarantees fair treatment of
foreign investors
• Complete protection of the ownership rights of foreign
investors
• Republic of Macedonia
is member of MIGA
• Investment protection treaties with numerous countries
• 100% foreign ownership of a company allowed
• No restrictions for repatriation of profits
10
Economic Indicators
GDP GROWTH(%)
5.0
INFLATION
6.1
Low inflation: average 2% annually over the last 4 years
2009:-0.8%; 2010:1.6%; 2011:3.9%; 2012:3.3%
5.0
2.9
2.8
2010
2011
-0,3
-0.9
2006
2007
2008
2009
2012
CURRENCY
Macedonian Denar pegged to the DM/€
EXPORT BY YEAR (US$ bn)
3.4
2007
for the last 15 years (€1= MKD 61.3)
2.7
2008
AVERAGE GROSS SALARY IN 2012
4.4
4.0
2009
3.3
2010
3,9
2011
2012
CREDIT RATINGS 2012
FDI BY YEAR (US$ m)
699
2007
Standard & Poor’s: BB
Fitch: BB+
587
2008
€ 498 per month
197
211
2009
2010
410
132
2011
2012
BUDGET DEFICIT & STATE DEBT
Budget Deficit, 2012: 3.3 % of GDP
State Debt,2012: 33.8
% of GDP
Source: National Bank of the Republic of Macedonia
11
Unbeatable Fiscal Benefits
• 10% Corporate & Personal income tax (among the lowest in Europe)
• 0% Tax on retained earnings
• Double taxation treaties with many European countries
• 0% tax for operation in a Technological Industrial Development Zone
• Real estate taxes at 2% - 4%
• VAT at 18%, with 5% on specific items
• FTAs with EU, EFTA, CEFTA countries; Turkey and the Ukraine; providing access
to over 650m customers
Corporate Income Tax
Macedonia*
Romania*
10%
Personal Income Tax
Macedonia*
16%
Romania
Czech…
Czech Republic
19%
Hungary
19%
Hungary
Poland
19%
Slovakia
Slovakia*
19%
Ukraine
Croatia
20%
Turkey
20%
Ukraine
21%
10%
16%
15%
Croatia
18%
15%
12%
18%
Turkey
18%
20%
Slovakia
20%
Ukraine
20%
19%
15%
Macedonia
Czech Republic
16%
Poland
Turkey
General VAT Rates
Poland
17%
32%
Romania
35%
Croatia
40%
Hungary
23%
24%
25%
27%
* Flat rate
Source: PricewaterhouseCoopers (Taxes at a glance 2012), National Investment Promotion Agencies
12
Social Security Contributions
Social Security Contributions
21.2%
9.2%
1.6% 0.5%
2008
32.5%
19.0%
7.5%
1.4% 0.5%
2009
28.4%
7.3%
18.0%
1.2% 0.5%
2010
27.0%
18.0%
7.3%
1.2% 0.5%
2011
7.3%
17.5%
27.0%
1.1% 0.5%
2012
26.4%
Pension Insurance
Health Insurance
Employment Insurance
Additional Health Insurance
Comparison - Social Security Contributions
Macedonia
Bulgaria
Poland
Montenegro
Croatia
Serbia
Ukraine
Romania
Czech Republic
Hungary
Slovakia
26.4%
30.7%
33.2%
33.8%
35.2%
35.8%
40.3%
44.3%
45.0%
45.5%
48.6%
Source: PricewaterhouseCoopers (Taxes at a glance 2012), National Investment Promotion Agencies
13
Average Gross Monthly Salary
Average gross monthly salary in selected
countries of Central and Eastern Europe in 2012
€1,525
€993
€660
€498
€508
Macedonia
Serbia
€727
Bosnia and Montenegro
Herzegovina
€771
€800
Hungary
Slovakia
€846
Poland
€1,048
€889
Estonia
Czech
Republic
Croatia
Slovenia
Source: The Vienna Institute for International Economic Studies (wiiw)
14
Competitiveness for Investments in Macedonia
Price Level Index for
Investments
56
59
62
63
66
70
72
Macedonia
Romania
Bulgaria
Serbia
Turkey
Croatia
Turkey
81
85
85
88
Poland
Czech
Republic
Slovenia
Slovakia
100
EU27
Average
Price Level Index for Construction
100
39
42
42
46
49
Macedonia
Serbia
Romania
Bulgaria
Turkey
56
61
Croatia
Hungary
73
74
74
Poland
Slovakia
Czech
Republic
Source: Eurostat, December 2012
80
Slovenia
EU27
Average
15
Sustainable Work Force Supply
• 41.5% of population under 30
• High intellectual capital
–
95+% of high school graduates enrolled in universities in 2012
–
Multiple vocational high schools in each city
• Tailor-made training programs through Vocational Schools or Universities
• 6% of GDP spent on education
Number of enrolled students
in Colleges and Universities
63.437
57.894
64.779
58.747
Number of graduates
in Colleges and Universities
11,197
10,839
56906
10,392
10,232
9,802
2008/2009
2009/2010
2010/2011
2011/2012
2012/2013
2008
2009
2010
2011
2012
16
Excellent Language Skills
• Every child in Macedonia begins to learn English in the first grade of
primary school
• Two foreign languages are mandatory in high school: English, and
either German, French, or Russian
• English is also taught for two years at University level
• Regional languages (Serbian, Croatian, Bulgarian, Albanian and
Greek) are widely spoken
Foreign Languages
Studied
Students in Primary
Schools, % of Total
Students in Secondary
Schools, % of Total
English
99%
96.5%
French
0.6%
2.8%
German
0.3%
0.5%
Russian
0.1%
0.2%
Source: State Statistical Office of the Republic of Macedonia
(Education 2012/2013) and Ministry of Education and Science
17
INVESTMENT
OPPORTUNITIES
Investment Opportunities
Target Sectors
Machine and Automotive components
ICT
Medical Devices and Pharmaceuticals
Agribusiness and Food Processing
Energy sector
Real Estate & Construction
Textile
Tourism
Filming
19
Machine and Automotive Components Industry
• Existing engineering and manufacturing
tradition
• Legacy of skills available to new investors
• Component production started in the 1960’s to
supply Zastava, Serbia
• Companies primarily supply the aftermarket
• Johnson Controls, Johnson Matthey, Kemet,
Teknohose, (Free Economic Zones), Kromberg
& Schubert, Hi-Tech to supply OEM’s, Van Hool
• Markets are Europe, Russia, Turkey, Africa,
USA
• Most companies have ISO 9001 / TS 16949
quality certification
20
ICT Sector
• 4-hour company registration
• Electronic fee payments for government
services
• Digital certificates for employers
• Legislation fully harmonized with the EU
• Free computer application training
21
ICT Sector
• Best telecommunication networks in
the region – the system is 100% digital
• Leading multinational hardware and
software suppliers (Microsoft, HP,
IBM) have local sales and support
services in Macedonia
• IT skills shortage in Western
economies and growing demand for
outsourcing services – Macedonia can
be your solution!
• Availability of well-educated staff at
competitive costs
• Quality assurance and standardization
procedure intitialized
22
Fixed Telephony Market Overview
Fixed telephony market shares by number of lines in Q1 2013
23
Fixed Telephony Market Overview
 64.56% market share (by fixed lines in Q1 2013) of






Makedonski Telekom AD
15.72% market share of second largest fixed operator
(by fixed lines in Q1 2013)
75.73% market share (by traffic in Q1/2013) of
Makedonski Telekom AD
52.68 calls- average number of initiated monthly calls
per user(Q1 2012)
163.86,50 minutes- average monthly usage per
user(Q1 2012)
19.65 - Fixed lines per 100 population (404.799
active fixed lines - Q1 2013)
107.883 ported numbers until 31 of March 2013.
24
Mobile Market Overview – Q1 2013
Share of operators in the total number of active subscribers in Q1/2013
25
Broadband market overview – Q1/2013
26
Healthcare Sector, Medical Devices and Pharmaceuticals
• Existing pharmaceutical industry, exports to
over 30 countries worldwide
• Strong educational system, with an
abundance of medical and pharmacy
graduates
• Supportive regulatory environment
• Licensing arrangements in place with many
of world’s leading pharmaceutical
companies
• Available sites at industrial and free
economic zones
• Manufacturing tradition
27
Agribusiness and Food Processing Industry
• Unique combination of Continental and SubMediterranean climates
• Environment friendly production practices
• Technologies for food processing
• Excellent access to regional markets
• Strong reputation for quality food products
The greatest investment opportunities:
• fruits and vegetables – production, storage
distribution and processing industries (logistic
centers)
• wine production
• sheep and goat cheese production
28
Textile sector
• Esteemed reputation of Macedonian textile
producers on the European Union market
• High flexibility and readiness to adapt to the
demands of foreign markets
• Exceptional relation between product quality
and costs
• Modern equipment
• 1-2 days distance to European Union markets
• Foreign investment welcomed in the readymade clothing and knit production industries
29
Tourism
Summer Destinations
•Numerous tectonic, glacial and man-made
lakes, 50 in total
•Large natural lakes: Ohrid, Dojran and Prespa
•Water sports, archeological, wine, eco and
rural tourism
•In 2012, 7,3% increase of foreign tourists
compared with 2011
Winter Destinations
•Over 45 mountain peaks exceeding 2.000m
•70% of the territory is mountainous and many
locations have more than 100 days of snow
•Opportunities for development and
enhancements of hotels and spa resorts on
many locations
30
Tourism
Historical and Culture Heritage
• 4,293 archeological sites
• 992 churches and monasteries
• 23,000 icons (2nd most valuable
collection in the world)
• 228 mosques, inns, Turkish baths and old
bazaars,
• 47 towers and fortresses
Spa tourism
•
Territory rich with geothermal waters
•
More than 60 thermal springs
•
Identified locations for construction of
new spa centers and hotels
31
Filming industry
Macedonia geographically provides various types of landscapes on locations at very
short distances from each other.
With annual average of 280 sunny days, Macedonia is one of the best locations for
exteriors and locations filming.
INCENTIVES
A film producer interested in investing funds in Republic of
Macedonia for making a feature film, documentary, animation,
television film or television series, may acquire the right to refund
20% of direct eligible expenditures paid in Republic of Macedonia.
Eligible expenditures
1) Production services
2) Postproduction services
3) Animation services
4) Procurement of goods for film sets and the costumes needed for
production of the film/television project.
32
INVESTMENT
PROJECTS
TOURISM
Tourism Development Zone
Dojran 1
Possible Planning Purposes :
• Tourist settlement with bungalows
• Small catering and commercial units
• Rehabilitation center for alternative treatment
34
Dojran 1
EVALUATION OF POSSIBLE SPACE FOR PLANNING PURPOSES (contents)
Project No.
1
P (ha)
12 hа
Relief CONDITIONS
The location is on flat terrain
ALTITUDE
~165 m
STRUCTURE OF
LOCATION IN RELATION
TO THE LAKE
The location is on the coast
CURRENT SITUATION
Institution in charge
TRAFFIC CONNECTIONS
THE LOCATION IS NEAR THE REGIONAL ROAD
R604 AND IS ACCESSIBLE)
Agency for Promotion and Support of Tourism
WATER PIPING
INFRASTRUCTURE
THERE IS WATER INFRASTRUCTURE AND
SEWERAGE INFRASTRUCTURE COLLECTOR
www.macedonia-timeless.com
ELECTRICAL
INFRASTRUCTURE
THERE IS ELECTRICAL INFRASTRUCTURE
Tourism Development Zones TDZ offer: tax incentives, training and education for new employees.
35
Dojran 2
• Tourist settlement with bungalows
• Small catering and commercial units
• Rehabilitation center for alternative treatment
36
Project No.
2
P (ha)
20 hа
Relief CONDITIONS
ALTITUDE
~170 m
STRUCTURE OF LOCATION
IN RELATION TO THE LAKE
CURRENT SITUATION
TRAFFIC CONNECTIONS
THE LOCATION IS NEAR THE REGIONAL ROAD
R604 AND IS ACCESSIBLE)
WATER PIPING
INFRASTRUCTURE
ELECTRICAL
INFRASTRUCTURE
37
Ohrid 1
• Hotels
• Trade units
• Sport and recreation
38
Ohrid 1
Project No.
3
P (ha)
60,56 hа
Relief CONDITIONS
ALTITUDE
~690 m
STRUCTURE OF
LOCATION IN RELATION
TO THE LAKE
CURRENT SITUATION
TRAFFIC CONNECTIONS
THE LOCATION IS 150 METERS AWAY
FROM THE REGIONAL ROAD R501
WATER PIPING
INFRASTRUCTURE
ELECTRICAL
INFRASTRUCTURE
39
Struga 1
Possible Planning Purposes:
· Small trade units
· Sport and recreation
· Motodrom
40
Struga 1
Project No.
4
P (ha)
16.26 hа
Relief CONDITIONS
ALTITUDE
~700 m
STRUCTURE OF LOCATION IN
RELATION TO THE LAKE
CURRENT SITUATION
TRAFFIC CONNECTIONS
THE LOCATION IS NEAR THE REGIONAL
ROAD R420 AND IS ACCESSIBLE
WATER PIPING INFRASTRUCTURE
THERE IS WATER INFRASTRUCTURE
AND SEWERAGE INFRASTRUCTURE
COLLECTOR
ELECTRICAL INFRASTRUCTURE
THERE IS ELECTRICAL
INFRASTRUCTURE
Agency for Promotion and Support of
Tourism
41
Spa Tourism
•
•
•
Region rich with geothermal waters
with healing effects
More than 60 thermal springs
Identified locations for construction
of new spa-wellness centers, hotels
and resorts
42
Spa Tourism
Locations with strong indications of geothermal water
• Raklis – Radovis
–
Borehole with yield of 2l/sec and temperature 25ºС
• Toplec and Nikolic – Dojran
–
Natural spring with temperature 40ºС
• Banjice – Tetovo
–
Natural springs with yield of 10l/sec and temperature
of 27-30ºС
• Proevci, Kumanovska Banja – Kumanovo
–
Estimates of up to 100ºС from the primary collector
43
Spa Tourism
• Sabota Voda – Veles
–
Borehole with yield 3.5 – 4.0l/sec and temperature of 3048ºС, estimates of up to 110ºС for the primary collector
• Mariovo – Prilep
–
Numerous spring appearances, temperature varies from
20-23ºС
• Kezhovica –Shtip
–
2 boreholes with yield 4.5 l/sec and temperature 63 ºС
• Majdan and Toplic – Kavadarci
–
No temperature available due to the mixture of hot and
cold water
44
Ski Centres in Macedonia
POPOVA
SAPKA
PONIKVA
MAVROVO
KRUSEVO
PELISTER
KOZU
F
GALICIC
A
45
Popova Sapka Ski Center
OVERVIEW
• Popova Sapka is situated in the northwestern part of Macedonia on 1,780
metres above the sea level, just 35
kilometres from the capital Skopje.
• Pre-feasibility
study
is
already
completed and four phases were
identified to complete this project
46
Current situation
•
Total ski terrain length of 55km
•
Currently there are 10 lifts
•
Capacity of 2900 skiers per day
•
Housing
• Hotels – 600 beds
• Private accommodation – 3000 beds
Parking space for 549 cars
•
•
Relatively dense and unstructured resort
village
47
PHASE 1: Existing area optimization
•
Build two new lifts (Pods 3 & 4) and
remove eight existing lifts
•
Keep lifts Sv. Ilija and Aerodrom
•
Total mountain capacity > 3400
skiers per day
•
Improvements needed in the base
area:
 new parking area
 increase of the quality of
the existing beds
 new mountain restaurants/
skier services.
48
PHASE 2: Building new village
•
Start developing “Aerodrom flats” to
create a new village
•
As soon as beds are available at the
new village, build two new lifts (Pods 1
& 2) and remove Sv. Ilija and Aerodrom
•
Finally build lift in Pod 5
•
Total mountain capacity: 7130
skiers/day
•
A total of over 4000 new beds (3000
skier beds at least) and some additional
300 parking stalls
49
PHASE 3: New village completion
•
Complete Village and add new parking and
connecting lift
•
Two new lifts will be added.
•
The village will keep increasing in size to
almost build-out stage (nearing 6000 beds)
•
A new parking 3km before the existing
Popova Sapka needs to be developed to
accommodate all the skiers
•
A connecting lift from the new village to
the bottom of Pods 4 & 5 should be built
•
Total mountain capacity: 10190 skiers/day
50
PHASE 4: Build out
•
Two new lifts are to be built
•
A new lift coming from Tetovo city center
could be built, bringing the skiers and
pedestrians to the recently developed
village center.
•
Total mountain capacity of 13,010
skiers/day
51
PROJECT DETAILS
•
Currently ski center Popova Sapka is
managed by ELEM, a state company
producing electricity.
•
They are seeking a partner to
develop Popova Sapka using PPP
model.
52
National Park Galicica
- Recognized as National Park in 1958
- Encloses an area of 25.000 hectares
Ski center
PROJECT OVERVIEW
- Bordered by Lake Ohrid (695 m), Lake
Prespa (850 m), with the highest peak
Magaro (2255 m)
•
•
Ski slopes start at 1600 m up to 2200 m
(5 km of ski lifts and 12 km of ski slopes)
Capacity of 5000 skiers per day
- Balkan Lynx (indigenous specie)
•
Land concession 7,290,000 m²
•
Project will be developed in 4 phases
(Possibilities for PPP or private investor)
Tourism opportunities:
- Lake tourism
- Leisure tourism
- Medical tourism
DEVELOPED INFRASTRUCTURE
•
40 km from the airport to the ski center
•
Existing hotels 7 km away from the ski
slopes
Proximity to City of
Ohrid with 250.000
tourists per year
53
National Park Ponikva
- 1560 meters above sea level
- Winter and summer recreational and tourist
center
- Tourism potentials of the Osogovo region
(locations for construction of accommodation
and tourist service facilities)
Ski
center
Winter
and summer activities
Skiing, mountaineering, paragliding
• 2 ski lifts
• Peaks
Ponikva – 1560 m
Retki buki – 1760 m
- Hunting:
Sultan Tepe (King’s top) – 2085 m
Lodges and famous
hunting grounds (deer,
mouflon, wild pig, doe,
etc.)
Ruen – 2250 m
• Tourist recreational trails
- Nature and Food:
Intact beauty and
high quality,
authentic ecologically
clean food
54
National Park Mavrovo
 New locations for construction of additional commercial
premises
Ski
centerand hotels
 Planned expansion of the ski-resort
National Park Mavrovo
Existing Capacities
 Recognized as a National Park in 1949
 The largest in Macedonia (over 73,000 ha)
 Tourist resort at the foothill of Mount Bistra
 70 cm average snow cover (November-April)
 Alpine & Nordic Skiing
- From beginner to expert slopes
-30 km trail length
(“Peaceful Valley”–7.5 km)
 3 chair lifts & 11 ski lifts with total length of
5,700 meters and capacity of 11,100 skiers/hour
 The highest ski lift tops at 1,860 meters
 15 km ski trails & Night skiing
 Hiking & Biking
 Hunting & Fishing
 Paragliding
- 52 peaks over 2000 m - Mavrovo Lake (rich in  Kayaking
- 500 km new trails with famous lake trout)
- Radika river
maps and guides
- Hunting grounds
55
INVESTMENT PROJECTS
ENERGY SECTOR
•
Government strongly committed to developing the
energy sector through public and private investments
•
National strategy based on diversifying the sources and
types of energy use
•
Focus on completing the strategy for the exploitation
of renewable sources of energy
Energy Sector Strategic Projects
Gas Transmission System
• Complete feasibility study for expanding the national
gas transmission system
• Rapid investment in completing the national gas
transmission system with support from international
financial institutions – €250 – €350 M
• Strong commitment to supporting the development of
regional gas transmission pipelines
• Focus on diversifying the source of gas available to
consumers in the country
57
Gasification of the Republic of Macedonia
Planned routes and possible connections for construction
Existing condition of pipeline in the Republic
of Macedonia
•Total length of pipeline - 98 km pipe, Ø 530 mm and of 54 bar;
• Capacity 800 million m3 per year up to 1000 million m3 per year;
• Connected cities – Kriva Palanka, Kratovo, Kumanovo and Skopje.
Total potential consumption in 2020 approximately 1300
million m3/year
Potential consumption
• in households, service sector and industry in 2020 - 500 million
m3/year
• in energy sector in 2020 - 800 million m3/year
Potential consumption in households, service sector and
industry in the cities
· 2017
· 2040
170 million m3/year
1.136 million m3/year
Planned Activities – Gas Transmission System
Phase I - priority sections with lengths
Kavadarci-Prilep-Bitola – 97 km
• Stip-Radovis-Hamzali-Strumica-R. Greece – 110 km
•
Skopje-Tetovo-Gostivar branch to Kicevo – 110 km
Phase II - priority sections with lengths
• Gostivar-Kicevo-Ohrid-Struga-Kafasan – 114 km
• Bitola-Ohrid – 64 km
•
Hamzali-Novo Selo-border of R. Bulgaria – 25 km and other
small sections in length of 250 km
58
Gas transmission (distribution) system
Existing gas transmission (distribution) system
• Kumanovo
• Strumica
Planned gas transmission (distribution) system
SKOPJE
PRILEP
GOSTIVAR
TETOVO
STIP
BITOLA
2015
80 million m3/year
2015
7 million m3/year
2015
3 million m3/year
2015
6 million m3/year
2015
2 million m3/year
2015
7 million m3/year
2040
500 million m3/year
2040
48 million m3/year
2040
23 million m3/year
2040
42 million m3/year
2040
24 million m3/year
2040
47 million m3/year
€80M
€27M
€21M
€26M
€18M
€31M
59
INVESTMENT PROJECTS
ENERGY SECTOR
HYDRO POWER PLANTS
Hydro Power Plants
• PPP with PE “ELEM” for the construction of a combined
cycle heat and power plant (investment value ≈ €250M) –
CHP Energetika
• An ongoing tender procedure – under the auspices of the
IFC advisory services for HPP “ Cebren and Galiste ”
(investment value ≈ €600M)
• HPP “Boskov Most” (investment value ≈ €90M)
• Vardar Valley system of HPPs along the Vardar river
(investment value ≈ €1.5B)
CHP ENERGETIKA
300MW(e),150MW
(h)
2.000 GWh(e),
500 GWh(h)
€250M
HPP BOSKOV MOST
H=44.4 m
68.2 MW
117.55 GWh
€107M
VARDAR VALLEY
200 MW (e)
€1.5B
61
HPP Cebren
Technical parameters:
 Average discharge:26.00m3/s
 Average production:840/786 GWh
 Installed flow:231/208m3/s
 Number of units:3
 Installed capacity:333/347 MW
Construction period:6 years
Project Project costs:€340M
HPP Galiste
 Average discharge:28.90m3/s
 Average production:262.50 GWh
 Installed flow:180m3/s
 Number of units:3
 Installed capacity:193.50 MW
Construction period:7 years
Project Project costs:€200M
62
Small Hydro Power Plants
•
Potential for construction of 400 SHPPs with total installed
capacity of 250 MW and average annual electricity production of
1200 GWh
•
Completed tender procedure and signed 68 concession contracts
for production of electricity from SHPPs with total installed
capacity of 58 MW
Expected annual production of 227 GWh and projected
investment value of €103M
•
63
INVESTMENT PROJECTS
ENERGY SECTOR
Thermal Power Plants
TPP Bitola
•
The Thermal Power Plant Bitola is located 8 km east of the city of Bitola and about 15 km
north from the Greek border. The total installed capacity is 675 MWel and the power plant
is the country’s major energy source. About 70% of the total energy produced in the
Country, is generated in TPP Bitola
•
The Power Plant with the 3 units has been operate for 20 years (each unit has a capacity
of 225 MWel and consumes about 2 mil.t of lignite annually)
The Project consists of three phase:
 Revitalization and modernization of the turbines, generators and automation in TPP Bitola
Investment costs: €56.83M
 Revitalization and modernization of the boilers and lowering of the NOx in TPP Bitola
and modernization of the cooling towers
Investment costs:€97.5M
 Revitalization and modernization of TPP Bitola with lowering of SОx and dust
Investment costs:€154.25M
65
Combined heat power plants
 CHP Energetika-installed power 300 MW (e),
150 MW (h) - consumption 300-450 million m3
Project costs:€44M
 TEC Negotino - installed power 210 MW (e) consumption 300-450 million m3
 TEC Oslomej - installed capacity 125 MW (e)
- consumption 200 million m3
Project costs:€300M
Small combined heat plants - Opportunity to invest in small combined heat plants by building a
pipeline network in the Republic of Macedonia
66
TPP Mariovo
TECHNICAL PARAMETERS
•
•
•
Installed capacity-electricity 300 MW
Electricity generation
2.000 GWh
Project cost : €350M
Fuel domestic coal




Geological reserves
111 mil. t
Heating value
7800 KJ/kg
Humidity
42 %
Ash
21 %
67
INVESTMENT PROJECTS
ENERGY SECTOR
MINES
Coal Deposit Mariovo
Coal (lignite) deposit located south of the city of
Prilep.
• Extensive
investigations
and
technical
documentation was prepared during 19651985
• The latest investigations in 2010 presented 97
mil. t of coal in total
• Approximately 62 mil. t are exploitable with
underground exploitation, according to the
latest ongoing project for opening of this
mine
• Planned capacity: 2,000,000 t coal annually
• Quality: LHV= 8300 kJ/kg (1982 Kcal/kg)
• This project in combination with new TPP
would meet the increasing needs of installed
capacity and energy
Project cost : €126M
69
Coal Deposit Suvodol
•
The deposit is situated in the exploitation field of mine Suvodol and it spreads over
approximately 3 km2 respectively 1/3 of the entire area affected with main coal
seam (10 km2).
•
About 70% of the total electricity generation in Republic of Macedonia is provided
by TPP Bitola, operates on base of the determined coal reserves located in the
Suvodol mine. Simultaneous opening of the Deep underlying seam Suvodol and Open
pit mine Brod-Gneotino will provide coal reserves for extension of working life of
TPP Bitola until 2030.
 Geological reserve:55 mil.t
 Exploitation reserve:50mil.t
 Heating value:7542KJ/kg
 Humidity:44.49%
 Ash :19.72%
Project cost:€41.55M
70
Coal Deposit Zivojno
•
•
•
Ongoing investigations on this coal site, in their final
stage. It is expected to yield on this Ongoing investigation
of this coal site, is in the final stages. It is expected to
yield final accurate parameters regarding the coal and
the surrounding road strata.
According the Techno-economical Elaborate from January
2013 there are certain possibilities for coal excavation
with deep exploitation, with excavation of 1 million ton
of coal annually.
The estimated total geological coal reserves in the
Zivojno deposit, the possibility for their exploitation, and
the vicinity of MPC Bitola (approximately 20km) or
construction of a new appropriate TP capacity, justifies
the efforts for its usage over a longer time period.
 Quantity: ≈100,000,000t coal (total geological reserves old estimates)
 Heating value: 7452KJ/kg
 Humidity:46.5%
 Ash:19,14%
Project cost:€103.5M
71
Coal Deposit Popovjani
• TPP Oslomej is located near Kichevo, with an installed capacity of 125 MW,
using coal as a basic fuel from open pit mine Oslomej, located near the power
plant
• The coal deposit Popovjani could be used for the extending life cycle of the
existing TPP Oslomej
• With exploitation of this coal deposit, a 10-year prolongation of the TPP
Oslomej's operating life cycle could be achieved
 Geological reserves : 11.4 mil.t
 Exploitation reserves : 9 mil.t
 Heating value : 6159 KJ/kg
 Humidity : 57.09%
 Ash : 12.39%
Project cost:€40 M
72
INVESTMENT PROJECTS
Renewable Energy
•
Measurement of wind potential; Preparation of a feasibility study
•
Study for Reliability of the Power System and Connection of Wind
Power Plants
•
Solar potential: the annual solar radiation is 1385 kWh/m2
•
Climate characteristics - continental climate with hot and dry
summers, and high intensity of solar radiation
Wind Park-Bogdanci
First phase:
construction of access road, substation and 36.8 MW of
installed capacity of wind-turbine and secondary annual
production of 100 GWh
 Installed capacity of 32-40MW
 The necessary area needed for installation of the total
capacity is up to 90 ha
Expected costs: €55.5M

Second phase:

construction and the installation of the remaining windturbine of about 10-20 MW



Average wind speed:7.1m/sec
Rotor diameter:80-95m
Voltage level:110kV
74
Solar Power Plant
•
•
•
•
•
Possible sites for placing the Solar Field : Near coal
depot in TPP Bitola,with total area of 390.000 m2
Total annual generation – 25Gwth(el)
Planned technology:
1. Parabolic Trough or
2. Linear Fresnel
Envisaged Variants:
1. Solar system (without auxiliary fuel) (≈45
MWth)
2. Hybrid system (integration with 2 units in TPP
Bitola)
The Project will be realized during the period of
2014 – 2016
Expected costs ≈ €30M
75
Ongoing projects
•
Rehabilitation of 400 kV substations
Skopje 4, Skopje 5, Bitola 2 and Dubrovo
(loan from EBRD) €6.5M
•
2x110 kV OHTL HEC Vrutok – SS Tetovo 1
(loan from EIB) €3M
•
Procurement of high voltage equipment for 400 kV and 110 kV level
•
New SCADA/EMS and backup national dispatching center (EBRD loan saving and MEPSO funds)
•
Project for development of transmission network (loan from IBRD) €20.7M
–
New 2x110 kV OHTL SS Bitola 3 – Bitola 4
–
Rehabilitation of 110 kV OHTL SS Skopje 1 – SS Tetovo 1
–
Project i.e. unbinding of the substation and rehabilitation 110 kV SSs
–
Project for telecommunication – procurement and installation of OPGW
76
76
INVESTMENT PROJECTS
INFRASTRUCTURE &
REAL-ESTATE
Infrastructure Strategic Projects
Motorway - Corridor 8
Package 1
•Total length of road sections to be
constructed is 138 km
•Concession project includes building,
maintenance, collection of tolls and
management of road sections.
•Total cost of Concession Project is
estimated at €434mn
78
Motorway - Corridor 8
Package 2
• Total length of road sections to be
constructed is 141 km
• Concession
project
includes
building, maintenance, collection of
tolls and management of road
sections
• Total cost of Concession Project is
estimated at €558M
79
Railroad - Corridor 8
Package 3
• Construction of
toward Bulgaria
the
railroad
• Total cost of Concession Project
is estimated at €420M
80
The Project includes
 Sections Gostivar – Tetovo - Skopje
 Section Stenkovec – Blace which is
(М4), Gostivar - Kafasan (border with R.
defined as Route 6a (SEETO Project
Albania) and Kriva Palanka – Romanovce
Code MACRD031) in the South East
(towards border with R. Bulgaria) which
Europe Core Regional Transport Network
are part of the pan – European Corridor
Development Plan 2011
VIII.
Connection with the following cross border projects
 Motorway on Route 6a - Kosovo (under UNSCR 1244/99);
 Upgrade of the Corridor VIII - Republic of Albania and Republic of Bulgaria.
Length and approximate costs for construction
Road Sections
Length
(Kms)
Cost
(€m)
Road Sections
Length
(Kms)
Cost
(€m)
Road Section: Stenkovec-Blace
13 km
€ 69.1
Road Section: Kriva Palanka-Romanovce
60 km
€272.7
Road Section: Kafasan(Albanian Border) and
Trebenishte-Ohrid and Podmolje-Struga
128 km
€ 489.4
Road Section: Kochani-Shtip
28 km
€ 56.3
Road Section: Miladinovci-Shtip
50 km
€ 104.6
Existing Section Gostivar-Tetovo-Skopje (M4)
55 km
0
Existing Section: Skopje Bypass
26.5 km
0
TOTAL
196 km
€ 558.5
Existing Section: Miladinovci-Skopje
11 km
0
(Hipodrom)
TOTAL
177.5 km
€ 433.6
81
Privatization of Macedonia Post
• Liberalization and development of the postal
market (a new Law on Post Services was adopted
in compliance with EU directives).
• A study for defining the privatization model of AD
“ Makedonska posta ” with determined scope
(percentage) of the privatization and the
timeframe for its realization is being prepared.
• The future minority shareholder (49%) would
manage AD “Makedonska posta”
82
Real Estate & Construction
Real estate project
City
Skopje
Skyscrapers
Hotels (3 hotels in the center of the city; 1 hotel near to the airport)
Shopping and business centers, including golf terrain
Sport and recreational center
Business center
Locations available as a result of land transformation of army barracks
(commercial and business centers and residential areas)
Ohrid
Hotels (along the lake cost)
83
Real Estate Opportunities
Skopje
The Second Best City For Real
Estate Investment In Europe
• Area: 13,710 m2
• Short proximity to city center
• Possible Planning Purposes:
–
Hotels
–
Residential buildings
–
Commercial buildings
–
Sports and recreation facilities
84
PRIVATIZATION PROJECTS
Privatization Projects
JSC “OHIS” – Skopje
•
75.6% of shares owned by the state
•
Each interested investor must have sales revenues in 2009 and 2010 that exceeds
€2,000,000 for each year and the structure of the criteria for evaluation are:
- Offered price (starting price of the share):10% .
- Reputation/creditworthiness of the bidder): 30 %,
- Business plan in the first 5 years: 60% (Investments in the first 5 years: 30% and number of
additional new employments in the first 3 years:30 %)
• Is based in an industrial zone within Skopje (occupies 74,1 ha)
•
Largest local chemical producer (detergents, soaps, chemicals, etc.)
•
Locally available skilled workforce
•
Strong brand recognition of chemical products on regional markets
•
The nature of the industry compels significant improvements in the environmental
conditions and standards
•
897 employees
86
TKP “Prilep”
•
84% of common and 100% of preferred shares owned by the state
•
1183 employees
•
Strong tradition in producing cigarettes since 1875
•
Production capacity of 4.65 billion sticks per year
•
Producer of cigarettes with local and regional brands with internal management of all stages
of production (production, fermentation, processing, packaging)
•
Local supply of tobacco with over 6000 contractors
•
Cooperation with BAT, Phillip Morris, SOCOTAB, Japan Tobacco etc.
87
JSC “EMO” – Ohrid
•
65 % of the shares are owned by the Government of the Republic of Macedonia
•
1419 employees
•
Established in 1972 and for the last 30 years has been a leading Macedonian manufacturer
and supplier of electro-mechanical components and systems with design, manufacturing,
and installation capability
•
Strong brand name in the region, Middle East, Africa, and Russia with 45% of sales for
export
•
Locally available highly qualified workforce
88
JSC “Eurokompozit” – Prilep
•
100% of the shares are owned by the Government of the Republic of Macedonia
•
373 employees on 30.06.2013
•
Extensive expertise and experience in production of special purpose products since 1952
•
Civilian production program [wound products, spare parts for locomotives, honey comb, molding
composites]
•
Military production program [rocket launchers, ballistic helmets and vests, mortar shells, bayonet,
upgrades of military vehicles]
•
Partners include Hyundai Heavy Industries, Haeffly Test AG, Passoni – Villa, Koncar, etc.
•
Eurokompozit is ISO 9001 certified and its product are UL approved
•
Total sales revenue (2012): €2.382M
•
Net Profit/Loss (2012): €822,786
•
Liabilities (31.12.2012): €978,1996
89
•
Agribusiness is one of the fastest growing sectors with more than 10% increase over the
past three years
•
More than 400.000 people make whole or part of their income from agriculture
activities
•
Sector comprises 16% of national GDP
•
For the last three years (2010, 2011 and 2012) there has been an increase of
exports for 10,2 % in average.
•
In 2012 the export of processed agricultural products was 40.5 thousand tons or
46.1 million EUR
•
Excellent supply
•
297 agricultural enterprises
•
192 082 family owned agricultural holdings
•
EU Standards applied
91
Industrial Crops
•
Tobacco
 Largest agribusiness export contributor - €85M (in 2011)
 27 332t produced in 2012
 Mainly production of oriental aromatic tobacco
•
Poppy
 Production in accordance with international agreements
 200t produced in 2011
•
Sunflower
 4 765 t produced in 2012
 1 270 ha production area in 2012
 Satisfied only 10% of domestic consumption of edible oil
92
Vegetables
•
Harvesting area of more than 50,000ha
•
More than 900,000t annual production
•
30% growth of exports in 2011
Production of vegetables (2012)
TOMATOES
Area in ha: 5,614
Production in tons:145,818
WATERMELONS
Area in ha: 5,691
Production in tons: 127,592
POTATOES
Area in ha: 13, 204
Production in tons:168,859
PEPPERS
Area in ha: 8, 626
BEANS
Area in ha: 9, 080
Production in tons: 5, 849
CABBAGE
Area in ha: 3,734
93
Fruits
 Total exports for fruit in 2012 has been estimated up to 104.845 tons daily flow of
26.2 million EUR.
 Annual production of fruits in 2012 was 150,489 tons
 14,000 ha of orchards
Grapes
 240,461t annual production of grapes in 2012
 33,400ha of vineyards in 2012)
 €12,3M of exports in 2012
94
Wine Production
•
Winegrowing and wine production accounts for ~20% of total agricultural GDP
•
More than 80 existing wineries
–
–
Total capacity: 250 million litters
Production: 100,000,000l
•
Domestic cellars purchased 126,857,000kg wine grapes in 2012
•
Domestic consumption of ~15l per inhabitant
•
Major export markets: Germany, Slovenia, Serbia, USA, Russia, China
95
Project 150 new wineries
Criteria
The following criteria have been taken into consideration for
providing land locations that would be adequate for
construction of new wineries:
• Proximity of the wine grapes production regions
• Accessibility to the road infrastructure
• Presence of sufficient quantities of wine grape production
96
Project 150 new wineries
• 66 available locations in 6 municipalities
• Starting bidding price of €1/m²
Municipality
Negotino
21
Kavadarci
12
• Starting bidding price of €0.1/m² for 99
Rosoman
year lease
• Average location size: 3000m² – 4000m²
No. of
Locations
Resava
8
8
• State aid in the form of co-financing
Ohrid
available
9
Bitola
8
97
Purchasing and Distribution Centers
Criteria
The following criteria have been taken into consideration for providing land
locations that would be adequate for construction of purchasing and distribution
centers for agricultural products:
•
Proximity of the agricultural production regions
•
Accessibility to the road infrastructure
•
Presence of sufficient quantities of agricultural production
Locations
•
East region: Sveti Nikole and Radovis
•
Tikves region: Negotino
•
South-east region: Valandovo, Gevgelija, Demir Kapija and Bogdanci
•
South-west region: Resen and Bitola
•
Skopje region: Kjojlija
98
East region
1.Sveti Nikole
Size
Initial price
per m2
15 ha
1 EUR
• Climatic conditions of the East region are favorable
for the production of garden and fruit crops,
especially due to the presence of natural geothermal water springs.
• The most produced agricultural crops in the East
region are the following:
2.Radovis
Size
Initial price
per m2
60,000
m2
1 EUR
–
Peppers: ~9,000t
–
Tomatoes: ~5,000t
–
Plums: ~5,500t
–
Sour cherries: ~about 2,000t
99
Tikves region
3.Negotino
Size
Initial price per m2
9 ha
1 EUR
• Large number of sunny days and fertile soil
in the Tikves region play an especially
significant role in the production of grapes
and fruits with high quality
• Production in Tikves region:
–
Grapes: ~72,000t
–
Peaches: ~5,500t
–
Plums: 14,800t
100
South-east region
4.Valandovo
Size
6.8 ha
1 EUR
5. Gevgelija
Size
9 ha
1 EUR
• South-east region is qualified as a south –
warm region which is adequate for
production of early vegetables
• The most produced agricultural crops in
this region are the following:
–
Tomatoes: ~80,000t (production during
winter and summer periods)
–
Cucumbers/gherkins: ~30,000t
–
Peppers: 70,000t
–
Cabbage: 50,000t
–
Melons: 30,000t
6.Bogdanci
Size
2.3 ha
1 EUR
7.Demir Kapija
Size
Initial price per
m2
4 ha
1 EUR
101
8. Kjojlija
Size
Initial price per
m2
500,000m2
1 EUR
Skopje region
• West region is characterized by cooler climatic
conditions and lower temperatures, therefore the
crops ripe later than in the south part of the
state.
• The most produced agricultural crops in the West
region are the following:
−
−
−
−
Peppers: ~1,7000t
Tomatoes: 13,600t
Potatoes: 39,600t
Apples: ~8,000t
102
South-west region
9. Bitola
Size
9 ha
1 EUR
• South-west region (Ohrid, Prespa, Pelagonia)
is characterized by a more moderate climate
compared to the North part of the state.
• Climatic conditions in this part are favorable for
the development of orcharding.
10. Resen
Size
6.2 ha
1 EUR
• The following agricultural crops are the most
produced in the South-west region:
–
Apples: 90,000t
–
Sweet cherries: ~1,200t
–
Sour cherries: ~1,700t
103
8
1
2
3
7
4
6
5
10
9
104
Technological Industrial Development
Zones - TIDZs
Free Zones
Free Zone Rankovce
Area Size: 40 ha;
Corridor 8
Free Zones Skopje 1 &
2
Area Size: 145 + 95 ha;
E-75 Highway;
Next to the Int’l Airport
Free Zone Tetovo
Free Zone Stip
Area Size: 95 ha;
Distance from Skopje - 35 km
Area Size: 208 ha;
The largest Free Zone;
Excellent logistic support
Free Zone
Radovis
Area Size: 10 ha;
Main Road M6
Free Zone
Strumica
Area Size: 23 ha;
Free Zone Kicevo
Area Size: 30 ha
Free Zone Gevgelija
Area Size: 50 ha;
85 km from the port of
Thessaloniki
Free Zone Struga
Area Size: 30 ha;
Next to the Int’l Airport;
170 km from Durres port
Free Zone Prilep
Area Size: 68 ha;
Between Prilep and Bitola
(4th and 2nd largest city)
106
Technological Industrial Development Zones - TIDZs
Infrastructure Benefits
• Electrical grid outlet, new power substation in place
• Telecommunications network
• Central heating
• Lighting
• Fire safety system - Airport Fire Department minutes away
• Security monitoring system
• Water, sewage and waste treatment plant
• Gas pipeline
107
Technological Industrial Development Zones - TIDZs
Fiscal Benefits
TAX RATES
TAX
Corporate tax
Outside TIDZs
0%
10%
10%
for the first 10 years
Personal income tax
Value added tax
TIDZs
0%
for the first 10 years
0%
18%
Property tax
0.1% - 0.2%
0.1% - 0.2%
Excise taxes
0%
5% - 62%
•
•
•
•
•
•
PRODUCT
CUSTOMS DUTY
TIDZs
Outside TIDZs
Raw materials
0%
Up to 15%
Equipment
0%
5% - 20%
Management of existing (established) Free Zone
Development of planned Free Zone
Subsidy of up to €500,000 towards building costs
Incentives in line with EU regulation
Green Customs Channel available at border for rapid export from Zone to EU countries
Land in a TIDZ in Macedonia is available under long-term lease for a period of up to 99
years
108
TIDZ “Skopje 1”
• €55mn investment
• over 500 employees
• catalyst production
JOHNSON MATTHEY
TEKNOHOSE
andBEGINNING
Export Promotion
ANNOUNCING
OF
CONSTRUCTION WORK IN TIDZ “SKOPJE 1”
• $40mn automotive components plant;
• 150 employees initially – increasing to 500;
• Integrated circuits
JOHNSON CONTROLS
PRODIS GROUP
ANNOUNCING BEGINNING OF
CONSTRUCTION WORK IN TIDZ “SKOPJE 1”
KEMET
SIGNING OF THE AGREEMENT
VAN HOOL
SIGNING OF THE AGREEMENT
109
TIDZ “Stip”
FORTUNE 100 COMPANY
$40B Turnover
PROJECT SCOPE
• 2nd project in Macedonia
• $20M Investment
• 1400 employees
• Construction of cut & trim plant
for car seats
“Macedonia was chosen because
of its international competitiveness,
because of our positive existing
corporate experience here and above
all because of the support and
professionalism that we have received
from all Government institutions
during the analysis process.”
Steven Meylemans
Project Manager
Johnson Controls
CONSIDERED COUNTRIES
• Macedonia, Moldova and Tunisia
110
Investment Projects outside of TIDZs
SIZE OF INVESTMENT
SIZE OF INVESTMENT
• €20M
• over $4M
• 2000 employees
• 150 new full time jobs +
300/350 new seasonal jobs
• Production of cable
installations
• Start of operations Q2 2012
• Tobacco facility in Kavadarci
• Fortune 500 company
“ We are very satisfied with the support
provided by the Macedonian Government and
its institutions and Bitola municipality. The
decision for investment in Macedonia
represents an important step in our expansion
as part of the strategy for international
output.”
Martin Passern
Managing Director
Kromberg & Schubert
111
Testimonials
“Macedonia offers the company just-in-time delivery and minimal freight costs.”
Philippe Simon
VP of Global Electronics
Johnson Controls
“This will be JM’s ‘mega-European plant’ and the largest ever single investment project.”
Colin Jaffray,
Director, Strategic Planning
Johnson Matthey PLC
112
Invest Macedonia at Your Service…
• One-stop shop and project management approach
• VIP Investment tour
• Locations
• HR Companies, construction, real estate, tax advisory and
consulting
• Universities and Reference Company visits
• Creating linkages with local and central Governments
• Navigate the legal requirements
• Ensure success!
113
Thank You!
AGENCY FOR FOREIGN INVESTMENTS
AND EXPORT PROMOTION
OF THE REPUBLIC OF MACEDONIA
ul.Nikola Vapcarov br. 7
1000, Skopje
Tel.: + 389 2 3100 111
Fax: + 389 2 3122 098
fdi@investinmacedonia.com

Republic of Macedonia

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