Investment Policy Review - The Former Yugoslav Republic of Macedonia

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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.



FDI trends and performance

The former Yugoslav Republic of Macedonia (box I.1) is a small landlocked country in the Balkan Peninsula, surrounded by Greece, Bulgaria, Albania and Serbia, including the territory of Kosovo. The country gained independence from the Socialist Federal Republic of Yugoslavia in 1991. Since then, the country has undergone a major transformation, from a socialist model of economic organization to a market economy. In the 1990s and the early 2000s, it underwent a radical privatization process, moving away from a mix of large publicly owned firms called socially owned enterprises and some small privately owned firms to an economy dominated by the private sector. This process is now largely completed. The share of the private sector in the production of the gross domestic product (GDP) increased from 42 per cent in 1992 to 86 per cent in 2002 (Macedonian Privatization Agency, 2002).


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