Unforeseeable business crisis and the consequences of the economic crisis on the agenda of the Management Board of the Foreign Investors Council
➢ News (08.04.2022, во 10:44:54)
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Unforeseeable business crisis and the consequences of the economic crisis on the agenda of the Management Board of the Foreign Investors Council

On 06/04/2022, the Management Board of the Foreign Investors Council held a regular session where they spoke about the current economic situation amid the crisis in Ukraine, on the serious risk and consequences it gives rise to and its impact on the energy crisis. The protracted economic crisis is increasingly troubling the companies due to the lack of foreseeability, but also due to the price increase in energy and intermediate goods. The Board reaffirmed the need and importance of introducing measures to support the economy in times of crisis. Board members exchanged opinions, suggestions, proposals concerning the measures that the state assistance should consider while developing policies to mitigate the consequences of the gravest crisis in modern history.

Representatives of some of the largest foreign investors in this country said that economic growth requires foreseeability and stability. Nevertheless, developments in the last two years, from the onset of the pandemic, the energy crisis, to the armed conflict in Ukraine, further deteriorate the outlook for better economic performance.

Later in the session, the members of the Management Board were familiarized with the current activities of the working groups charged with preparing the latest issue of the White Book, which is a true opportunity for examining the perception of the foreign companies as to the business climate in this country and the challenges they are facing while doing business. FIC recommendations are concrete, not only as examination of the current economic situation in the country, but also as corrective actions and proposals to promote the business climate. The White Book includes chapters about taxes, finance, proprietary relations, administrative relations, human resources, and environmental protection.

Natasha Janevska, M.A., expert at the Economic Chamber, turned to the goals of the second call for expression of interest under the Regional Challenge Fund (RCF) and invited the attending companies to form consortia to jointly implement cooperative training programs, which would be composed of vocational education and training institutions and enterprises.

The Regional Challenge Fund (RCF) is a financial facility aimed at increasing employability, particularly of young people. RCF stimulates the competitiveness of the enterprises in the Western Balkan economies by financing investments in equipment and infrastructure under selected cooperative projects, and of vocational and dual education projects implemented through partnerships between VET institutions and enterprises. Grants are awarded through a regional call.

Chamber Informational department