In North Macedonia, energy and infrastructure are dominant topics, with a new roadmap, looming deadlines, and a billion-euro project finally pushing long-stalled developments forward, according to Apostolska Aleksandrovski & Partners Partner Igor Aleksandrovski.
“The energy sector is increasingly shaping our lives,” Aleksandrovski says.” Earlier this year, the groundwork was set, but in recent months, the government has taken a stronger role in shaping policy, with particular emphasis on energy and infrastructure. A key deadline is approaching on September 30, by which all companies must apply to be included in the annual energy plan managed by the Ministry of Energy and Mineral Resources.”
“The market had been waiting for the rulebook that would explain how this process works,” Aleksandrovski explains. “And in September, a roadmap was published, laying out what companies need to submit to secure their place in next year’s plan. While this roadmap will now be updated annually, the tight deadline has created a lot of pressure, with businesses scrambling to meet the requirements. The upside is that the process has started to move. This should gradually bring order to what has so far been a rather messy area, providing a clearer view of which projects will go forward, what approvals they will need, and how the renewable energy pipeline will develop.”
In parallel, Aleksandrovski highlights that a significant development came with the government’s agreement with Turkiye’s Kazanci Group. “The deal, valued at around EUR 1 billion, focuses on boosting energy generation capacities and expanding the natural gas distribution network across the country,” he notes. “It’s a massive infrastructure undertaking that will create work across a wide spectrum of industries. And it’s not the only one: there is also strong emphasis on regional infrastructure projects, such as Corridor 8, connecting Albania and Bulgaria, as well as major highway and railway developments expected to kick off next year.”
Looking ahead, “October’s local elections are likely to be another important event,” Aleksandrovski adds. “Once those are behind us, we can expect a wave of new projects in Skopje, both public and private. Things in the capital have been on hold for some time. Large-scale infrastructure work has a way of mobilizing the entire economy. These projects will naturally generate a lot of legal work – both in helping projects move forward and, potentially, in resolving disputes if and when they arise.”
On top of these infrastructure and energy developments, Aleksandrovski stresses that two important pieces of legislation, “Prospectus Law and Financial Instruments Law, which were supposed to enter into force by the end of September, will enter into force on October 1, 2026.” According to him, “both aim to align the local capital markets more closely with EU standards. The changes should broaden investment opportunities, increase investor trust, and make the country more attractive for foreign investment. At the same time, they will support the growth of small and medium-sized enterprises.”
Finally, Aleksandrovski emphasizes that, as everywhere in the region, there is also a lot of public discussion around food prices. “The government has introduced measures to cap profit margins, hoping to stabilize costs. While the results so far are mixed, this remains an area of close attention and likely further policy action,” he points out.
