In the past two decades, North Macedonia has undergone considerable political, social, and economic changes. The recent progress towards Euro-Atlantic integration carries the benefit of substantial EU pre-accession funding. To make the most of this opportunity, the country should leverage public funding to strengthen the influx of constructive capital: investments that are transparent, accountable, and market-oriented at the funding source and destination. At the same time, the government should limit the possibility of corrosive capital that originates from authoritarian regimes and exploits governance gaps to influence economic, political, and social developments in recipient countries.
To raise awareness of the detrimental effects of corrosive capital and discuss the way to attract constructive capital, the Center for the Study of Democracy and the Institute for Democracy "Societas Civilis" (IDSCS), supported by the Center for International Private Enterprise (CIPE), held the conference "Promoting Constructive Capital in North Macedonia" on 6 October in Skopje. Fatmir Bytyçi, Deputy Prime Minister in charge of economic affairs, coordination of economic sectors and investments of the Republic of North Macedonia delivered the conference key-note address. “The war in Ukraine directed the focus of the EU towards policies that should ensure the safe and smooth functioning of the economy, and here investment screening is of particular importance. This regulation is also part of the strategic dialogue with the United States and the government is ready to do move ahead," he reaffirmed.
Dr. Vanya Petrova, Senior Analyst at the Center for the Study of Democracy took part at the conference panel "Democracy that Delivers: Promoting Constructive Capital in Southeast Europe." Iliana Boycheva, Analyst at the Center for the Study of Democracy moderated the panel. Dr. Petrova noted that Bulgaria and North Macedonia need to move beyond politicizing over issues of identity and shared history to joining forces for proactive action to unlock the region’s economic potential.
