Setting up a Business
Macedonia prides itself on its educated, highly-qualified, and ethical workforce available to foreign investors. The average gross monthly salary at the national level in 2015 was €522. Educational standards at technical higher educational institutions in Macedonia resemble those of Western countries. Workers welcome continuing education and life-long learning, successfully completing customized vocational training programs. The Government aids investors in the process of labor force training by participating in such programs.
EDUCATION GEARED FOR BUSINESS
Elementary and high school education, as well as English language learning, are mandatory in the Macedonian educational system and begin in the first grade of elementary school. In addition to standard high schools, many vocational high schools in each city enable students to learn various trades. There are five public and numerous private internationally recognized universities and colleges. Both, vocational schools and universities offer tailor-made training programs in an effort to meet the specific needs of companies investing in Macedonia. In the past several years, Macedonia on average spent 6% of its GDP on education, a percentage higher than the corresponding one in most of the OECD countries.
Every year approximately 80% of high school graduates are enrolled in universities, and there was a 35% increase in the total number of undergraduate degrees in the past several years. With 45% of the population under 30 years of age, Macedonia offers a young, educated, and skilled workforce.
Although the average gross monthly salary at the national level in 2015 was €522, the average gross monthly salary in the manufacturing sector was €393. These amounts include the net salary, personal income tax and social contributions for pension and disability insurance, health insurance and employment insurance. The minimum salary for each professional branch is defined by Collective agreements.
|Contribution for Pension and Disability Insurance Fund||21.2%||19.0%||18%|
|Contribution for Health Insurance Fund||9.2%||7.5%||7.3%|
|Contribution for Employment Fund||1.6%||1.4%||1.2%|
|Additional Health Insurance||0.5%||0.5%||0.5%|