9/18/2020
WORK MEETING OF THE MANAGEMENT BOARD OF THE FOREIGN INVESTORS COUNCIL WITH FATMIR BYTYQI, DEPUTY PRIME MINISTER OF THE GOVERNMENT OF THE RNM IN CHARGE OF ECONOMIC AFFAIRS, COORDINATION OF ECONOMIC SECTORS AND INVESTMENTS

The purpose of the meeting was to present the implementation of the Government economic policies regarding foreign investments, as well as to familiarize the Deputy Prime Minister with the challenges and conditions they are facing with in their operations and to provide recommendations to overcome them.

Bytyqi expressed his preparedness before the participants to include the Foreign Investors Council in the economic policymaking and in the process of keeping track of their implementation because that is the only option to deliver higher economic growth and development.

As pointed out by the members of the Management Board, foreign companies in this country place crucial importance to issues of providing foreseeability and consistency to the business surroundings, something that is of key importance to every investor to plan and prepare the economic processes and investments.

The President of the Foreign Investors Council, Mr. Stefan Peter, presented the five priorities that foreign investors expect from the new Government, which are related to:

- tax and customs regulations amid the pandemic crisis, for which the Foreign Investors Council has numerous proposals and suggestions for improving the regulation framework, mostly focusing on complete harmonization of the customs rates for certain products (components) necessary for production of technologically advanced products;

- new approach to promotion, but also caring for foreign investors, which means an impartial, experienced and efficient one-stop-shop center for foreign investors in the country, flexible and independent in its decision-making and problem solving, which will mean a big step forward;

- creating conditions for skilled labor in accordance with the needs of the labor market and preventing the process of mass migration of the young working-age population from the country;

- mandatory consultation of foreign investors on legal regulations, as well as

- efficient administration and rule of law. 

President Peter, congratulated the formation of the new Government, as well as the appointment of Bytyqi to the position of Deputy Prime Minister for Economic Affairs, pointing out that in the upcoming period foreign investors and the private sector will need state assistance and support for mitigating the negative effects of Covid 19 crisis and for providing a solid basis for the recovery of the economy, while preserving business predictability and macroeconomic stability.

According to Deputy Prime Minister Bytyqi, the Government's focus at the moment is to create a predictable business environment, intensive work in the field of customs policy and to meet the request for harmonization of the entire customs tariff, which would mean opening the consultation process on this issue, which is particularly complex, revision and reduction of parafiscal charges on various grounds, as well as mandatory consultation on all issues that are important for the business.

- The plans are to work on raising the competitiveness of companies in the domestic and international markets, which means concerted action in the fight against corruption and the shadow economy, as well as the possibility of digitalization of services and processes related to issuance of various types of documents which are needed by businesses from state bodies and agencies - said Bytyqi.