Greek Investments In North Macedonia
North Macedonia generally has good business relations with Greece and enjoys substantial inward investment from Greece. However, the Macedonia naming dispute, naming dispute had inhibited the establishment of full diplomatic relations so far but has not prevented both countries from engaging in military and security co-operation, cross-border investments, and cultural exchanges. Background Since the end of the Greek embargo, which lasted between February 1994 and September 1995, Greece has become one of the most important business partners of North Macedonia. Greece is the fourth most important investor in the country (12.1% of total foreign direct investments), behind the Netherlands, Slovenia and Hungary. The acquisitions of Stopanska Banka, Stopanska Bank by the National Bank of Greece, the OKTA refinery by Hellenic Petroleum, and the mobile operator Cosmofon by the Greek Cosmote, Cosmote Group are some of the largest Greek business undertakings in North Macedonia so far. Ac ...
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