Albanian plans to invest 100m euros in Macedonia

Macedonian news agency INA writes that Macedonian Minister responsible for Foreign Investments Ramiz Merko has today confirmed that “in the ministry's environments, and then along with Republic of Macedonia Prime Minister Zoran Zaev, we held work meetings with my friend and one of the most successful businessmen not only in the Republic of Albania but also in the region, Shefqet Kastractin, founder and at the same time company's director, “Kastra Group<2>, accompanied by his partners, Nova Global Group from the Republic of Turkey, Eduardo.

Merko added that “during the meeting we talked about the positive climate for investment and conditions that the Republic of Macedonia's legislation offers in terms of investments for foreign companies in our country, particularly in free economic development areas.

I received support from Mr. Kastrati for establishing a co-operation for the implementation of numerous projects, strategically in order to draft advance and reform investments in the area of the economy. He promised me that at least the investments that will be realised in our country will reach up to 100m euros.

The program and the business plan will be concrete in the coming months, which will be presented for the opinion. During the meeting, the deputy director of the Asip Ussini Industrial Technological Development Directorate, where the Macedonian agency's announcement concludes in institutional co-operation.

The Kastrati Group is among the largest in Albania and the country's main oil trading company. The main company of the Kastrati chess group, which trades in fuel in abundance, had an annual circulation of 320m euros in 2016, according to the official balance.

The other venture, Kastrati shpk, which trades retail oil, had an income of 93m euros.

The group also has interests in the insurance field (Alb Security, with 13m euros in revenue in 2016) and automotive trading (Benz Mercedes).