Political stability, an ambitious infrastructure program and steady growth are giving international investors new reasons to look at North Macedonia.
Thirty-five years after gaining independence from Yugoslavia in 1991, North Macedonia is seeking to turn its location, skilled workforce and international partnerships into lasting economic progress. The government is backing that goal with one of the largest investment programs in the country’s history, worth nearly €10 billion across transport, energy and other sectors. According to official figures, the economy expanded by 3.0% in 2024 and 3.5% in 2025, and accelerated to 3.7% in the first half of 2026.
“Economic growth is our administration’s highest priority. For me, true patriotism means a strong economy. When you have solid economic development, macroeconomic stability, investment, higher salaries and low inflation, you create a good living environment,” said Hristijan Mickoski, Prime Minister of North Macedonia.
Three Pillars of Growth
The government’s development strategy rests on three connected priorities: transport, energy and digital technology.
Transport constitutes the first pillar of this strategy. Infrastructure construction has become one of the economy’s main engines, with quarterly increases of 16% to 21%, according to Aleksandar Nikoloski, Deputy Prime Minister and Minister of Transport. The country is building six highways at once, along with two railway sections linking it to Bulgaria. In 2025, the government signed a strategic partnership with the United Kingdom to build a high-speed railway along Corridor 10.
“North Macedonia occupies a unique position at the crossroads of two Pan-European corridors, Corridor 8 running east to west and Corridor 10 running north to south,” Nikoloski said.
Ships arriving through the Suez Canal reach Thessaloniki sooner than Rotterdam or Hamburg, but limited rail capacity to the north has held the port back. North Macedonia is working with neighbouring countries to modernise Corridor 10, creating a direct rail route from Greek ports to Central Europe. Its own section is due by 2031, at an estimated cost of €2 billion, and a cargo bypass around Skopje is already complete. The ministry’s feasibility studies show the upgraded network could increase freight volumes ten to twelve times. Free economic zones planned along the route would then let manufacturers and logistics companies connect directly to the railway.
The Economic Chamber of North Macedonia, founded in 1922 and now representing around 15,000 member companies, sees the completion of both corridors as a decisive step to consolidate regional connectivity.
“If both projects are completed over the coming decade, North Macedonia will strengthen its position as a regional logistics hub, increase exports, attract new investment, and integrate more deeply into European supply chains,” said Branko Azeski, President of the Economic Chamber.
Energy is the second pillar of the strategy, led by a dedicated Ministry of Energy, Mining and Mineral Resources created in June 2024. Renewables already make up about 58% of the country’s installed power capacity. Investor interest is rising fast: the number of proposed energy projects has jumped from around 250 to more than 800, adding up to about four gigawatts of new renewable power and two gigawatts of battery storage. State-owned gas operator NOMAGAS is building a pipeline to Greece that will open access to liquefied natural gas, and is developing a link with Serbia as part of the regional Vertical Gas Corridor.
“North Macedonia does not yet have a mature LNG market, so companies entering early could gain a strong first-mover position,” said Sanja Božinovska, Minister of Energy, Mining and Mineral Resources.
As an EU candidate country, North Macedonia has also adopted a new Energy Law fully aligned with European Union rules, so companies already operating in Europe will recognise the framework.
