North Macedonia: a growing market, strategic for Made in Italy
In recent years, marked by sweeping global and regional change, how has North Macedonia's economic context evolved? What new opportunities or challenges are emerging for Italian companies?
In recent years North Macedonia has made significant macroeconomic progress, helped by the impetus of public spending and investment.
In 2024 real GDP returned to growth, recording +2.8%, while the deficit remained within a sustainable range of 4 to 5% and public debt stabilised at around 56-57% of GDP.
The economic environment has been further strengthened by important structural reforms and by a process of regional integration that has broadened development prospects, including in commercial terms.
A significant step in this direction was the creation of the Open Balkan Zone, which introduced considerable logistical and customs simplifications, easing access to an integrated market of some 11 million consumers.
In parallel, thanks to free trade agreements with CEFTA, EFTA, Turkey and Ukraine, companies established in the country can benefit from preferential, duty-free access to a pool of over one billion consumers.
In the light of these elements, it can be said that North Macedonia is establishing itself as an increasingly attractive environment for foreign investors, in particular Italian ones, thanks to a combination of macroeconomic growth, regional openness and a strategic vision oriented towards innovation and sustainability.
Over these two years of your Presidency, what have been for you the most significant aspects of the work Confindustria Macedonia has done in support of Italian companies?
During this term we have devoted ourselves to building a solid and structured membership base, made up of Italian and local companies, with the aim of representing member companies' interests effectively.
Our presence on the ground has allowed us to establish direct dialogue with the local business fabric, easing the market entry of new Italian operators and at the same time fostering the emergence of partnerships between Macedonian and Italian companies.
The growing interest in our association from both Italian and Macedonian companies is, in our view, a tangible sign of the trust we are building.
Confindustria Macedonia is progressively establishing itself as a point of reference for local companies interested in the Italian market and, equally, for Italian companies wishing to approach or strengthen their presence in North Macedonia.
I would like to underline with particular pride the publication of the first Country Guide, produced during the first half of my term: a concrete, operational tool designed to support Italian companies in the internationalisation process.
A second edition will be published this year.
In the same spirit, we organised — in collaboration with Confindustria Toscana — an event presenting the country in Florence, attended by the diplomatic representations of both countries, with contributions from member companies who shared their direct experience of investing in North Macedonia.
Another significant project was the one promoted together with LUISS University, through which we offered officials of the ДСР (the Macedonian Court of Audit) the opportunity to attend a specialist training course on “Effective Management and Anti-Fraud Controls in the Use of EU Funding Instruments”.
It is an initiative that reflects our wish to contribute, in our own small way, to the country's institutional strengthening.
We are of course well aware that the path we have taken is only at its beginning: many challenges remain to be faced and new opportunities to be built.
In your view, which sectors of the local economy today offer the greatest growth prospects for Made in Italy and for new Italian business ventures?
The evolution of North Macedonia's current economic context highlights a set of strategic sectors in which Italian expertise can best express its added value.
The prospects for collaboration look promising in those segments where quality, innovation and a manufacturing vocation are key elements.
The infrastructure sector stands out for its strategic importance: the government has launched a detailed public investment plan for the upgrading of transport networks, of healthcare facilities and of tourism services.
Here Italian companies can offer high-level technical and design expertise, taking part in international tenders or setting up operational collaborations with local partners.
The renewable energy sector is also particularly dynamic, with North Macedonia investing with conviction to align itself with European green transition targets.
Italian companies, strongly positioned in environmental engineering and in the production of sustainable technologies, can contribute concretely to the sector's development.
The Technological Industrial Development Zones (TIDZ) offer favourable conditions for setting up production, making them particularly attractive for Italian SMEs active in mechanical engineering, in the automotive sector and in subcontracting.
These areas make it possible to combine tax advantages with preferential access to Balkan and European markets, thanks to the country's network of trade agreements.
Great potential is also found in the agri-food sector, where the local farming tradition can be enhanced through the transfer of Italian technology and expertise in processing, integrated logistics and quality certification.
Finally, the drive towards digitalisation and the adoption of advanced technologies opens significant space in the ICT field.
From industry 4.0 to cybersecurity, through to cloud services and automation of processes, the local market shows itself particularly receptive to innovative solutions, helped by targeted public policies.
Overall, North Macedonia is an increasingly favourable environment for Made in Italy.
Italian entrepreneurs, drawing on financial support instruments — both national and European — and on an internationalisation strategy founded on flexibility, local roots and industrial alliances, can take full advantage of the opportunities offered by a growing market in a strategic position at the heart of the Balkans.
🔗 Find out more about Confindustria North Macedonia:
👉 www.confindustriamacedonia.mk
