FYROM involved in the EU COSME project

FYROM involved in the EU COSME project

Skopje, September 30, 2014/Independent Balkan News Agency

By Naser Pajaziti

As of today, FYR Macedonia will be part of the European COSME program for the competition of small and medium sized businesses. A part of this program, which has a budget of 2,3 billion Euros, will also be implemented in FYROM from 2014 until 2020. The agreement for the participation of the country in this program was signed by the minister of Economy, Bekim Neziri and European commissioner for Industry and Enterprise, Ferdinando Nelli Feroci.

Minister Neziri said that this program aims at encouraging competition between companies by securing a better approach to funding.

“The main scope of this EU program is to strengthen competition and sustainability of enterprises, namely small and medium sized enterprises, the promotion and development of SMEs, which are a target group for COSME program” said minister Neziri.

Commissioner for Industry and Enterprise, Ferdinando Nelli Feroci said that this program will stimulate the economy of FYROM and it will serve as an entry gate toward the European Union.

“This program aims at helping small and medium sized enterprises, in an effort to make them more competitive not only in the domestic market, but also in the international market”, said Feroci.

The structure for the realization of the COSME program is made up of four components, where companies secure 60% of funds from the budget of this program, while the money will be withdrawn from banks in FYROM which will be involved in this program for the stimulation of businesses. /ibna/