The Assembly of the Republic of North Macedonia approved the amendments to the Law on Financial Support of Investments, which was published in the Official Gazzette of the Republic of North Macedonia number 178, on August 4, 2021.

The changes include easing application conditions, which will affect equitable regional development, but will also speed up payment procedures.

The changes also include a change in the conditions for providing financial support to companies that have invested in COVID terms with a transitional provision valid in 2021 that allows revenues to fall by up to 15% in 2020 for the conclusion of new contracts, while the conditions for income from the activity and for the employee will not be applied when a request for payment is submitted.

There has also been a change in the types of companies that will be able to enter into contracts by later adjusting its terms, ie the release of rules in the field of license holders, producers of excise goods, performers of public interest activity, dedicated production etc.

The new law also clarifies and simplifies some of the measures the measures and criteria, in accordance with the specification and analysis of operating conditions for investment from abroad and increasing the percentage of financial support from 10% to 15%.

An important change in the new law is the regulation of equitable regional development, so companies that will implement investment projects in less developed planning regions will receive additional financial support. Additional support will be calculated as the percentage difference between the region with the highest value of GDP per capita and the value of GDP per capita in the region in which the investment is made.