The cannabis industry in Macedonia
Legalized in August , 2016
Top 10 in World Bank's Doing Business 2019 Report
Law for foreign investment protection
Ideal conditions for medical cannabis cultivation
In Macedonia there are many regions with no heavy industries with clean air, water and soil, which fulfill the strict requirements for medical cannabis production.
280 sunny days per year
Macedonia has a unique climate with lots of sunny days, ideal for bigger and stronger plants, but without the excruciating hot temperatures. With an average of 280 sunny days per year, the Macedonian climate is perfect for greenhouse cannabis production with minimal energy costs.
Low operational costs
Republic of Macedonia is one of the most competitive locations in Europe regarding the operational costs. Macedonia has the lowest prices of electrical energy in Europe, which significantly decreases the operational costs for maintaining the perfect growing conditions inside the greenhouse. Macedonia has one of the lowest average wages in Europe, which further decreases the operational costs. In September 2017, the average net monthly salary in this sector was €378.
The investors in Macedonia have benefit from the favorable tax politics, with one of the lowest tax rates in Europe (flat corporate and personal income tax of 10%, as well as tax of 0% for retained profit).
The Republic of Macedonia is rapidly advancing on the path of political and economic reforms towards strengthening the democratic society and the free market economy. The result is political and macroeconomic stability, providing much room for growth. The country’s continuous progress has been confirmed by the World Bank’s Doing Business report, which has ranked Macedonia the best consecutive reformer in South East Europe for the past three years.
The top priorities of the Government include economic growth and development, active participation in the regional and global integration processes, maintenance of economic stability, and attraction of foreign direct investment.
The Republic of Macedonia was granted candidate-country status for EU membership, and full NATO membership is expected in the near future.