The USAID Competitiveness Project in the past five years assisted over 500 Macedonian companies to promote themselves better on foreign markets and to become more competitive, it was concluded at project's closing presentation on Wednesday.

Minister of Economy Valon Saraqini thanked USAID representatives involved in the five-year project for their support in the development of IT, light manufacturing and apparel industry.

"USAID has subtly chosen the areas for cooperation with Macedonian companies. The competitiveness of an entire sector can be increased solely by boosting the competitiveness of certain companies. The Government, including the Ministry of Economy, is creating a favourable economic climate and transparent regulations," Minister Saraqini stated.

3.300 jobs have been created and investments of $145 million have been made together with an export worth $88 million through activities envisaged by the project.

US Ambassador Paul Wohlers told the conference that the United States would keep on taking measures to support the economy in Macedonia in spite of project's closure. He welcomed the investments by Macedonian businessmen realised with USAID assistance, adding that the project's success was all the more important taking into account that it had been realised during the biggest economic crisis in recent history. Ambassador Wohlers said USAID's support to the Macedonian economy was part of the US strategic partnership with Macedonia.

"We have a versatile and very active cooperation programme with Macedonia. The US has invested over billion dollars in Macedonia in job creation, in fighting corruption and in education. This project is another example of our strategic partnership with Macedonia and a good example of our sincere friendship," the US Ambassador stated.

The project aimed at assisting Macedonian companies to access foreign markets and to provide financing sources and also to improve the quality of workforce.

USAID and Minister Saraqini signed an agreement for a $40.000-grant through the USAID Investment Development and Export Advancement Support.