• Esfer Aliji Cevahir Holding - Branch Skopje, Macedonia
Keywords: FDI, Economic Effects, Republic of North Macedonia, Republic of Turkey.


In North Macedonia, domestic savings and investment rates are low and insufficient for achieving more dynamic economic growth. On the other hand, borrowing by lenders (international and domestic) is not acceptable dueto the limited budget opportunities for servicing the external debt in the medium term. At the same time, the dynamisation of the economic activity requires greater investments, which taking into account the aforementioned reasons, are expected to be realised by attracting FDIs as a long-term source and catalyst of the economic activity in the country. In the analysis made, it is determined that investments of Turkish origin have positive effects on the economy of the country. In this direction, our main goal, found the fact that a substantiallyincreased economic cooperation over the last decade and particularly important economic and strategic partner who examine FDIs from the Republic of Turkey is to contribute in this direction, make proposals to ensure that reveal the effects and increase attendance.

Author Biography

Esfer Aliji, Cevahir Holding - Branch Skopje, Macedonia
PhD, Chief Financial Officer,


Aliyi, E: СтранÑките Директни ИнвеÑтиции од Република Турција и Социо-економÑкиот Развој во

Република Македонија [Foreign Direct Investment from the Republic of Turkey and Socio-Economic Development in

the Republic of Macedonia], published book, 2019.

Aliyi, E.: Makedonya Cumhuriyeti İnşaat Sektorunde Turkiye Cumhuriyeti Menşeli Doğrudan Yabancı Yatırımlarının

Onemi [Importance of the Turkish FDIs for the Macedonian Construction Sector], Hikmet -International peerreviewed

journal of scientific research, no.29, May 2017, pp.130.

Lipsey, R.E.: Home and host country effects of FDI, NBER Working Paper 9293, 2002.

Invest Macedonia: FDI, http://www.investinmacedonia.com/why-macedonia/growing-fdi

IMF, Balance of Payments and International Investment Position Manual (BPM6)- sixth edition Washington, D.C.:

International Monetary Fund, 2009: https://www.imf.org/external/pubs/ft/bop/2007/pdf/bpm6.pdf

NBRM, Direct investments in RNM: http://www.nbrm.mk/direktni_investicii.nspx

NBRNM: Law on Foreign Exchange Operations, 2013


ÐVRM (Employment Agency): Вработување на Ñтранци (employment of foreigners), (http://avrm.gov.mk/vrabotuvanje-

na-stranci.nspx) and Yearly Reports.

UNCTAD: World Investment Report 2015–