Programme to Stimulate Investment
February 2010 – December 2010
Pinto Consulting was commissioned by UNCTAD to prepare the “Investment Policy Review” for Macedonia. It consists of three main chapters and Ricardo is responsible for the third chapter: Chapter I analyses Macedonia’s recent experience in attracting FDI and its impact on the economy (job creation, linkages, skills and technological transfers, trade integration, sectoral and regional development). Chapter II analyses the legal and regulatory framework for investment and make concrete recommendations on how to improve it. It will include, inter alia, recommendations on: (1) FDI entry, establishment, treatment and protection; (2) international framework for FDI (BITs, DTTs, FTAs, dispute settlement etc.); (3) corporate taxation (including also customs duties and regulation of technological industrial development zones); (4) foreign exchange arrangements; (5) labour regulations (including employment of foreigners); (6) access to land; (7) environmental regulations; (8) competition; (9) intellectual property rules; (10) selected sectoral regulations (telecommunications, electricity); and (11) international trade agreements.
Based on the findings of chapters I and II, a strategic Programme for Stimulating Investment was prepared by PC for Macedonia to increase FDI inflows, diversify FDI types and sources, promote sustainable foreign investments, and maximise their developmental benefits on the national economy. The strategy establishes priority areas for investment promotion, both new ones and ones that continue the priorities of the Government’s previous programme of investment promotion (2007–2010). The draft new Programme was discussed and agreed with the key beneficiaries such as the Ministry of Economy, Invest Macedonia and Deputy Prime Minister’s Office, as well as numerous stakeholders (ministries, offices, agencies, etc.), private sector and other stakeholders.
- Expert function.
- Participation as member of Expert Group.
- Discussions and information collection. Presentation of initial conclusions and discussions.
- Preparation of detailed Programme for Stimulating Investment, including problem, solution, responsibility, deadline, etc.