11/8/2023
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Work meeting between the Foreign Investors Council and the Deputy President of the Government Bitikji

Member companies of the Foreign Investors Council (FIC), led by President Viktor Mizo, held a work meeting with the Deputy President of the Government in charge of Economic Affairs, Coordination of Economic Sectors, and Investments, Fatmir Bitikji. Representatives from several foreign companies, members of the FIC at the Economic Chamber of North Macedonia, attended the meeting, which focused on current economic issues and government policies. The discussion revolved around the briefing provided by the Government regarding the requests and recommendations discussed at the previous meeting in June this year.


At the meeting, foreign companies expressed their concerns due to the prolongation and requested greater urgency from relevant authorities regarding proposed solutions, which generally aim to improve the business climate in the country. They also discussed the current economic conditions in the country, as well as the recently adopted Law on Solidarity Tax, which the Economic Chamber has initiated a review of its constitutionality.

Speaking about the uniformity of policies for financial support of new investments, Deputy President of the Government Bitikji announced additional strengthening through amendments to the Law on Financial Support for Investments, focusing on ensuring the complete disbursement of state aid.

The President of FIC and Managing Director of KOSTAL Macedonia, Viktor Mizo, emphasized the importance of the Council actively participating in shaping and monitoring economic policies in the country. This involvement would contribute to proposing and implementing new creative policies, thus facilitating timely and optimal planning of business decisions by foreign investors in the country.
During the meeting, the demands of foreign companies were reiterated for consistent treatment by institutions to improve the business climate and facilitate operations, including issues related to tax regulations, cost reduction, improvement of infrastructure in the free economic zones (TIDZs), harmonization of tariff rates with those in the EU, additional tariff numbers, simplification of procedures for hiring foreign workers, financial support for investments from the state, and the possibility of refining certain laws and bylaws in this area. The companies expect that some of these issues will be resolved before the next meeting, which was agreed upon with the Deputy President of the Government.

It was decided at the meeting to form a joint working group to prepare and harmonize legislation for the technological and industrial development zones and the industrial green zones. Timely and quick actions on these demands will contribute to improving the conditions for doing business in the country, enhancing the operations of existing foreign and domestic investors, their reinvestments, and attracting new investors. Further delays would indirectly reduce competitiveness, cause stagnation, and have negative effects on economic growth.