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Investment opportunities in Macedonia at the annual investment summit in Dubai

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Economy Minister Kreshnik Bekteshi, from the 9th to 11th of April, participates at the eighth edition of the Annual Investment Summit in Dubai, UAE, under the auspices of His Majesty Sheikh Mohammed Bin Rashid Al Maktoum, Vice President of the UAE and Prime Minister of Dubai. 

It is an annual gathering that is the leading global platform for foreign investments, whose annual theme is “Linking Developed and New Foreign Direct Investment Markets – Partnership for Inclusive Growth and Sustainable Development”, which brings together several tens of thousands of participants from public and private sector from over 100 countries, including representatives of ministries and government scientific public, chambers of commerce, industrial and economic zones, banks and financial institutions, startups and small and medium enterprises. 

Minister Bektesi, within the rich program, presented the possibilities for investing in the Republic of Macedonia and the economic situation of the country and realized numerous meetings with interested investors. During the visit, Bekteshi met with the renowned entrepreneur Ph.D. B.R. Sixth, one of the most successful global businessmen and one of the richest people in the United Emirates, where he is present with many companies and factories in various sectors. 

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Albanian Minister of Economy, “No price increase, no cost for entrepreneurship”

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Minister of Finance and Economy, Arben Ahmetaj said today that the inclusion in the VAT filing scheme for business running over 2 million Lek a year is not a new tax. During a media interview with the media in the process of informing small businesses included in the VAT filing scheme, Ahmetaj emphasized that by the end of December 2018 there will be no penalties for those businesses who have erroneously fulfilled the VAT declaration agency.

The Minister said that surveys were conducted all over Albania and the cost for business has been modest since the application of this scheme, so price increases are unjustified. He announced that there are 9900 small enterprises included in the declaration scheme, while 60 thousand businesses that make $ 2 million a year do not have the obligation to declare VAT.

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China and its retaliation against the US

in ASIA/ECONOMY by

A drawback in purchases – or a fire-sale – of US Treasuries could devastate the global economy if China presses the red button. Tariffs will hurt, certainly. The biggest trade powers engaged in a protectionist tit-for-tat will end badly for the entire global economy. But Cui’s not-so-veiled threat is something bigger. There, in June 1997, then-Japanese Prime Minister Ryutaro Hashimoto was giving a rather dry speech about economic cooperation. That was until the question-and-answer period, when he suggested Tokyo might sell Treasuries holdings if Washington didn’t reduce dollar-yen volatility. “Several times in the past we have been tempted to sell large lots of US Treasuries,” he said. The issue flared up anew in August 2011. Beijing was unhappy with then-US President Barack Obama’s perceived closeness to Taiwan. That had policy wags mulling creative ways to get the White House’s attention, including using Beijing’s vast dollar holdings as leverage. “Now is the time,” the state-run People’s Daily argued in an editorial on the topic, “for China to use its financial weapon to teach the US a lesson.” 

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Nigeria’s president Buhari visits London for a meeting with Theresa May

in AFRICA/ECONOMY by

President Muhammadu Buhari will leave Abuja on Monday for an official visit to Britain due to “hold discussions on Nigeria – British relations with Prime Minister Theresa May, prior to the Commonwealth Heads of Government Meetings scheduled for April 18 to 20” the presidency said in a statement Sunday evening by presidential spokesperson, Garba Shehu. The president will also meet the Chief Executive Officer of Royal Dutch Plc, Mr. Ben van Beurden in connection with Shell and other partners’ plan to invest $15 billion in Nigeria’s oil industry. These investment ventures will lay the foundation for the next 20 years production and domestic gas supply. Buhari will also meet the Archbishop of Canterbury, Justin Welby, a good friend of the president, on inter-religious harmony in Nigeria.

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Zaev presented programs from the Operational Plan for active measures for employment

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In the framework of the working visit to Stip today, Zoran Zaev and the Minister of Labor and Social Policy Mila Carova, presented a working meeting with the employers from the region of Stip, the measures and programs from the Operational Plan for Active Measures for Employment and Services on the labor market. At the working meeting, opinions, ideas and suggestions from employers were shared about their needs from skilled staff and workers, and discussed the possibilities opened by the Operational Plan for Active Employment Measures to overcome the shortage of skilled labor. Prime Minister Zaev and Minister Carova called on employers to use the measures and support from the Government at their disposal and to be part of the process of creating professional and qualified staff for the development of the economy and job creation.

After the closing of the working meeting, Prime Minister Zaev and Minister Carova gave brief statements for the media. Finally, Prime Minister Zaev shared the experience of a recent visit to Austria where this problem, among other things, is solved by dual education, and said that the state will finance retraining and that the purpose of the measures is to gain practical experience and permanent employment.

 

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India is world’s second largest producer of steel, overtakes Japan

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In a major achievement, India has overtaken Japan to become the world’s second largest producer of crude steel in February, according to the Steel Users Federation of India (Sufi). At present, China is the largest producer of crude steel in the world, accounting for more than 50 per cent of the production. India’s crude steel production was up 4.4 per cent and stood at 93.11 million tonnes (mt) for the period April 2017 to February 2018, compared with April 2016 to February 2017, which has helped India to overtake Japan and becomes the second largest producer of crude steel in the world, the federation said in a statement here.

India overtook the US in 2015 to become the third largest producer of crude steel. Attributed the growth in steel production to the right policies undertaken by the Modi government, Nikunj Turakhia, president, Sufi said, “The government has taken host of steps to curb imports, push local demand with initiatives like ‘Make in India’, implementation of the GST and infrastructure projects, to encourage the domestic market.” According to the World Steel Association, India produced 8.4 mt of crude steel in February 2018, up 3.4 per cent over February 2017.

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The creation of a regional economic zone (REA) starts the first steps

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The creation of a Regional Economic Zone in the Balkans has begun to be concretized. The first step is the recognition of Authorized Economic Operators among CEFTA (Central European Free Trade Agreement) member countries, which will bring more convenience to trade exchanges between countries.

To discuss this plan, was held a meeting in Tirana attended by representatives of the dogaphorical administration of CEFTA member countries. General Director of Customs, Belinda Ikonomi, praised the organization of this meeting as a continuation of regional cooperation, in the framework of the engagement undertaken at the recent “Berlin Process” summit, held in Trieste in July 2017, where the Prime Ministers of the Balkan countries expressed strong determination to work together to create a Regional Economic Zone (REA).

Since the first pillar of the action plan for the further advancement of regional trade integration includes a number of actions aimed at accelerating cross-border procedure in accordance with the additional protocol of CEFTA, Ikonomi informed that in Albania this document has already passed on all parliamentary committees and is epected to be approved by the Parliament.

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Abdullah, prioritizing economic indexes

in ECONOMY/MIDLE EAST by

During the session of executive committee for development of private sector, Chief Executive Dr. Abdullah Abdullah said that Afghanistan should seek ways for prioritizing of economic indexes and solving of problems before private sector. Dr. Abdullah said there were eye-catching growth of private sector and small entrepreneurships as well as production and imports, adding more works needed to improve and accelerate the process. Dr. Abdullah told the officials to pay attentions to boosting of imports and exports as well as growth of domestic production and ways to ease transportation of goods. He added to focus on prevention of time elapsing during security check of the importing and exporting goods. Minister of Commerce and Industries held the session on achievements, challenges and progress of the Executive Committee on development of private sector, adding 10 documents were prepared to ease the process of export and import of goods. The documents included acceleration of the security check process of goods, technical standard, custom license, license of entrepreneurship and transit, prepared in consultation with traders. World Bank representative to Kabul praised Chief Executive’s support of the private sector, saying the process would take time and require joint efforts. The Chief Executive also instructed the Ministry of Commerce and Industries to present the problems in Council of Ministers meeting, so that to be discussed in detail.

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China: zero-sum mindset risks opening a Pandora’s box

in ASIA/ECONOMY by

The trade war between USA and China dominate Asians’ media. The fear of this war manipulates stock exchanges. At the moment the end of this unharmed conflict it’s far to the end. we’ll see in the next days.

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Egypt’s debt interest reaches EGP 173.2 billion in 6 months

in ECONOMY by

The interest expenses due on debt in Egypt increased by 28 percent annually in the current fiscal year.

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