Greek Investors Rank Third in FYROM Financing

Greece ranks third as a source of cumulative foreign direct investment (FDI) in the Former Yugoslav Republic of Macedonia (FYROM), according to official data.

A document released by the Skopje Economic and Commercial Affairs Bureau on Saturday claimed Greek  FDI in 2017 amounted to €5.54 million ($6.8 billion), taking the country to eights from 103rd in 2016, when there was a divestment of €15.69 million of Greek FDI in FYROM.

In terms of total cumulative FDI from 1997-2016, Greece ranks third after Austria and the United Kingdom, with €463.4 million.

The geographic distribution of FDI in FYROM changed significantly in 2017, with large-scale divestment by countries that were among its top sources of FDI, such as the U.K. and Turkey, as well as a €13.57-million reduction of FDI from the United States.

In terms of the distribution of FDI in FYROM by sector, the biggest part went to services (29.5 percent), following by mining/quarries (15.1 percent), commerce (8.3 percent) and agriculture/fisheries (4.3 percent).

In manufacturing, which previously absorbed the greater part of FDI inflows, there was a divestment of €75.61 million.

(Source: AMNA)