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Investment Policy Review - The Former Yugoslav Republic of Macedonia

image of Investment Policy Review - The Former Yugoslav Republic of Macedonia

The IPR of the former Yugoslav Republic of Macedonia analyzes FDI trends and their impact on the host economy, provides a detailed evaluation of the legal and regulatory framework for investment, including concrete recommendations to improve it, and presents an overall strategy to attract investment that feeds into a government programme for stimulating investment covering the period 2011 to 2014.

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Inputs for the implementation of the programme for stimulating investment

In recent years, modern legislation has been adopted in several domains of the regulatory framework of the former Yugoslav Republic of Macedonia, including company registration, labour, environment, customs, intellectual property and competition. These reforms have a direct bearing on the ease and cost of doing business in the country and its levels of competitiveness. There are, however, remaining regulatory constraints, such as in the area of construction permitting and entry of foreign labour. The country also needs to consolidate and implement recent reforms by adopting the necessary by-laws and regulations and strengthening the institutions in charge of their implementation in important areas such as environmental protection, competition or labour rights. The following tables summarize the relevant recommendations in the area of competitiveness of the economy. In the timeline, short term indicates actions to be undertaken in the first year of the programme for stimulating investment, medium term denotes actions to be completed before the end of the 2011–2014 cycle, and long term indicates actions that may require time going beyond 2014.

English

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