Today, February 23, USAID’s Business Ecosystem Project and the Ministry of Economy of the Republic of Macedonia signed a memorandum of understanding on private sector engagement. The goal of the new partnership is to encourage and facilitate private sector investment in local economic development initiatives that will be beneficial to the companies making the investments, and the economy at large.The project and the Ministry will collaborate on a national campaign to stimulate private sector engagement in local economic development.

USAID Assistant Administrator for Europe and Eurasia Brock Bierman is in Macedonia, and was a witness to the signing of the MoU. In his remarks he said, “With initiatives like the Business Ecosystem Project, and partnerships with government like the one we are establishing today, we are replacing that traditional model of development assistance with one that recognizes and seizes upon the potential for Macedonia’s private sector to drive development, through job creation, economic expansion, and corporate social responsibility.”

USAID Macedonia Country Representative David Attenbery and the Minister of Economy Kreshnik Bekteshi also made brief statements highlighting the importance of the private sector in achieving sustainable economic growth.

USAID’s Business Ecosystem Project (BEP) is a four-year project with an overarching goal to transform the competitiveness of micro, small, and medium enterprises (MSMEs) in Macedonia by strengthening business services, finance, and market linkages to catalyze a significant increase in MSME growth, productivity, and employment. BEP has three overarching and interlinked objectives: improving business support services; improving MSMEs’ access to sources of financing; and stimulating private sector investments in local economic development. Under its third objective, the project will co-finance initiatives with lead companies aimed at strenghtening local supply chains, improving the employability of the workforce, and developing the local economy. All interested companies are encouraged to contact USAID’s Business Ecosystem Project at dejan.janevski@thepalladiumgroup.com.

NOTE TO EDITORS:

This year, USAID is marking its 25th anniversary in Macedonia. The American people, through USAID, have invested more than $610 million in the country since 1993. USAID is working with the people of Macedonia to create jobs, strengthen democratic institutions and practices, enhance integrated education, and prepare students for the modern workforce. These initiatives, in partnership with the people of Macedonia, aim to improve the quality of life for all of Macedonia’s citizens. For more information, please visit http://macedonia.usaid.gov and USAID’s Facebook page http://www.facebook.com/USAIDMacedonia.