In recent years, many countries have revised their tax legislation to improve and stabilize their national economies. The Republic of North Macedonia is among the countries with one of the lowest corporate tax rates in Europe, set at 10%, making it an attractive destination for investment. However, as a nation still undergoing transition and in need of new investments, the new Macedonian government believes that further reducing the tax rate will create better opportunities to attract new investments, which is crucial for improving and stabilizing the economic situation.

On November 14, 2024, banking and finance experts from Albania, Austria, Bosnia and Herzegovina, Bulgaria, North Macedonia, and Poland sat down for a virtual round table moderated by CEE Legal Matters Managing Editor Radu Cotarcea to discuss digitalization and the impact of tech on the banking sector in CEE.

In the past few years, North Macedonia has made significant strides in developing its infrastructure. Attracting foreign investors is the main strategy to finance, construct, develop, and manage essential infrastructure projects. The government also engages in PPPs, recognizing their potential to leverage private sector expertise and capital in public service delivery.

The spring of 2024 marked a pivotal shift in the Macedonian financial market, with significant reforms on the horizon. As of March 2024, the related legislative framework has come under intense scrutiny, aiming to align more closely with European directives and capital market regulations. This effort has culminated in the adoption of the new Law on Financial Instruments (LFI) and the Law on Prospectus and Transparency Obligations of Securities Issuers (LPTOSI). The primary objective of these reforms is to enhance market efficiency and strengthen the stability of the financial system.

North Macedonia, strategically located in the heart of the Balkan Peninsula, south-eastern Europe, is a landlocked country with a unique advantage. Its position between two main European corridors, coupled with political and democratic stability and a favorable tax and regulatory framework, makes North Macedonia a promising destination for potential foreign investors. The country offers abundant possibilities, especially in greenfield investments, renewable energy, software, IT services, logistics, construction, cannabis production, agriculture, food services, tourism, etc.

In The Debrief, our Practice Leaders across CEE share updates on recent and upcoming legislation, consider the impact of recent court decisions, showcase landmark projects, and keep our readers apprised of the latest developments impacting their respective practice areas.

North Macedonia’s new government is enacting a series of ambitious reforms focused on green energy, fair trade, and modern employment practices, including measures to stabilize electricity prices, incentivize energy efficiency, and regulate unfair trade practices, according to Bona Fide Law Firm Partner Aleksandar Kchev.

JPM Partners has announced its expansion into North Macedonia via the integration of Tosic & Jevtic into its regional network.

On 19 September 2024, BDK Advokati celebrated 20 years since its establishment. BDK Advokati Managing Partner Tijana Kojovic and Senior Partner and Head of the Montenegrin office Luka Popovic reflect on this milestone and discuss the journey of the firm, its evolution, achievements, and aspirations for the future.

Gecic Law, working with sole practitioner Branko Radojcic, has successfully represented Telekom Srbija before the Commission for Protection of Competition in North Macedonia.

North Macedonia, as a European Union country candidate, progresses toward integrating with the European Union’s regulatory and economic systems. As these frameworks grow more complicated, the country is tasked with continuously aligning its local industry with European and global standards.

In The Debrief, our Practice Leaders across CEE share updates on recent and upcoming legislation, consider the impact of recent court decisions, showcase landmark projects, and keep our readers apprised of the latest developments impacting their respective practice areas.

The Proposal for the Law on Litigation Procedure has recently been reintroduced for review by the Assembly of the Republic of North Macedonia. As of September 2, 2024, it is now on the agenda of the Commission for Political System and Inter-Community Relations, according to the Ministry of Justice.

Contributed by Debarliev, Dameski & Kelesoska.

North Macedonia currently lacks AI-specific regulations, lagging behind neighbouring countries that have implemented guidelines or laws. Although the Macedonian Fund for Innovation and Technology Development (FITD) and the government initiated efforts in 2021 to create a National Strategy for AI (National Strategy), progress has been slow due to challenges such as insufficient data, human resources, and technical capabilities. Despite this, there is a strong commitment, supported by organisations like the World Bank and UNDP, to develop a comprehensive AI strategy aligned with European Union (EU) standards.

In The Debrief, our Practice Leaders across CEE share updates on recent and upcoming legislation, consider the impact of recent court decisions, showcase landmark projects, and keep our readers apprised of the latest developments impacting their respective practice areas.

Summer is traditionally a slower period for many, including the legal sector, but, if used right, the time can pay dividends for law firms.

The Macedonian legislature has amended multiple laws for the purpose of introducing special rules for facilities of strategic importance, which are highly significant for the development of the infrastructure. Pursuant to the latest amendments of the Law on Spatial Planning (LSP) and the Law on Construction (LC), both of which entered into force on May 30, 2023, the “facilities of strategic importance” category includes state roads, railway lines, backbone gas pipelines, and any other facilities of public interest that are built as strategic investment projects or projects of strategic national importance.