#1Republic of Macedonia Ministry of Economy CEFTA Workshop on Foreign Affiliates Statistics Republic of Macedonia presentation Brussels, 8-9 December, 2014 MINISTRY OF ECONOMY#2Republic of Macedonia Ministry of Economy As an Overview Macedonia during its Chairmanship in 2014, in corresponding dimensions of the Integrated Growth Pillar within Strategy SEE 2020, will be focused on four priorities and investments are as related in: FREE TRADE AREAS: Further liberalisation of trade in agricultural goods and trade in services INTEGRATION INTO GLOBAL ECONOMY Initiate establishing an investment concept to enhance participation in regional supply chains and global supply network ❖ SUSTAINING SYNERGY between implementation of CEFTA and the SEE 2020 MINISTRY OF ECONOMY#3Republic of Macedonia Ministry of Economy Importance of FDI Policy- National Investment Policy Review -Foster private sector development and poverty reduction with focus on FDI; -Provide recommendations on ways to improve the legal and regulatory framework for investment; - Formulate a strategy to promote and attract foreign direct investment and maximize its development impact MINISTRY OF ECONOMY#4Republic of Macedonia Ministry of Economy Recommendations on IPR 5 main pillars: 1. Creating synergies between FDI and industrial policy; 2. Achieving global investment framework progress; 3. Strengthening and creating policies in the field of investment and competitiveness; 4. Rationalizing of investment promotion efforts; 5. Providing efficient implementation of policies. MINISTRY OF ECONOMY#5Republic of Macedonia Ministry of Economy FDI abroad Data and methodology The statistics of the NBRM for direct investments covers the data for the situations and transactions based on the direct investments. The situations show the amount of direct investments at the end of the defined time period, while transactions show movements among connected subjects based on direct investments through defined time period. Schedule: annual and quarter data by countries (data columns-equity debt instruments and total) MINISTRY OF ECONOMY#6Republic of Macedonia Ministry of Economy Institutions in charge of statistical data •National bank of Macedonia - · Balance of payments Regulated by the Law for the National bank of Republic of Macedonia and Law for working with foreign currency •Statistical office of Macedonia www Ministry of Economy- following the data and making general proposals for investment policy MINISTRY OF ECONOMY#7Republic of Macedonia Ministry of Economy Level of details of FDI statistics Outward Direct investments - - investments (abroad) of the direct investor (natural or legal person), resident, in the enterprise where is investing, not resident Inward Direct investments - investments ( in the country) of the direct investor ( natural or legal person), not resident, in the enterprise where is investing, resident Investments among horizontal connected enterprises ( These definitions are according the National Bank of R.Macedonia) MINISTRY OF ECONOMY#8Republic of Macedonia Ministry of Economy Main drivers for producing related statistics data •Part of external statistics www •Reporting units are legal or physical persons with economic transactions with not residents and depending on type of transactions with them, report on their obligations and demand towards not residents based on debt instruments, capital investments in and from abroad, demands and/or obligations towards not residents based on remaining financial instruments, etc. (Source: National bank of RM) MINISTRY OF ECONOMY#9MINISTRY OF ECONOMY Republic of Macedonia Ministry of Economy THANK YOU [email protected]