Skopje, 7 September 2021 (MIA) – In order for the private sector to realize investments, North Macedonia’s business community requested at Tuesday’s second panel within the “Economic Recovery and Growth beyond Covid” conference carefully designed measures against the pandemic and solutions for systemic weaknesses that affect the competitiveness of the Macedonian economy. Representatives of the largest chambers of commerce also asked for tax system revision, lower taxes for domestic companies, functional and efficient administration, reduced bureaucratic processes, etc. They once again complained about grey economy and underlined the need for fight against crime and corruption, adding that there’s no economic development without rule of law. Moreover, business community representatives praised cooperation with the government, saying that a number of their suggestions were implemented in stimulus measures. However, they noted, challenges must be addressed and overcome as soon as possible. According to chambers’ representatives, the private sector continues to invest even amid the coronacrisis. They praised the government’s new investment cycle for 2021-2027, standing at over EUR 8 billion. “Inefficient administration at central and local level, complex bureaucratic procedures, infrastructure and the grey economy are some of the challenges we’re facing,” said the deputy president of North Macedonia’s Chamber of Commerce, Jelisaveta Georgieva, stressing the importance of speeding up the process in these difficult times in order to boost private investments potential. According to Economic Chamber of North-West Macedonia president Nebi Hoxha, there must be balance between companies that enjoyed success amid the coronacrisis, bringing in EUR 300 million in investments in 2020 and those who had to shut down and lay workers off. Moreover, he underlined the importance of regional cooperation. “Regional integration is crucial for improving cooperation. But, there are issues that must be resolved as soon as possible. The private sector can play a key role in turbulent times,” he told the event. Chambers of Commerce Association president Danela Arsovska stressed on Tuesday the need for strong institutional support for the private sector. “We must find a way to adapt, take care of health, but also of the economy. There’s a need for financial, as well as non-financial measures – fighting corruption is one of the key issues that require systematic solutions, in addition to rule of law and the fight against the grey economy,” Arsovska underlined. The panel was also addressed by representatives of international financial institutions, Deputy PM Fatmir Bytyqi, Minister of Economy Kreshnik Bekteshi and Minister of Transport and Communications Blagoj Bochvarski.