FALL 2013 ISSUE 39
PRICE 300 MKD
MAGAZINE
of the American Chamber of Commerce
in Macedonia
WWW.AMCHAM.COM.MK
Macedonia’s Energy
Market Transformation
• Replicating the U.S. Energy
Revolution
• The Future of Macedonia’s
Steel Industry
• To Frack or Not to Frack?
• Focusing on the Region’s
Energy Source Diversity and
Innovation
Also in the issue: AmCham votes, organizes Macedonia’s first anti-counterfeits
campaign and raises gender awareness
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Emerging Macedonia Fall 2013 Issue 39
Dear AmCham Macedonia members and friends –
Welcome to the fall edition of Emerging Macedonia. While this is certainly one of the busiest periods in the fiscal year as well as in the private lives of our readers, we’re glad you found time to tune into some of the hot topics garnering attention among AmCham members.
I’ve just returned from the first regional gathering of AmChams in Tirana, where representatives from the
AmChams in Kosovo, Albania and Montenegro discussed ways to increase the impact of our organizations both
on the local and regional level. The group agreed that there is a need for advocacy in each country with regard to
intensifying regional economic integration (e.g., consistent respect of CEFTA, continuing investment in shared
infrastructure, inter-governmental cooperation on energy, easing of labor mobility) as a key tool for attracting
foreign direct investment to the region. The group also agreed to include as many AmChams in the region as
possible toward adding weight to joint initiatives. We plan to gather committees of
Still to come this year are our traditional Thanksgiving lunch in support of a good cause as well as our annual
holiday party. The Thanksgiving lunch will be together with the association behind the street magazine, Face to
Face (Лице в лице) on December 3rd at 14:00 at the Makedonska Kukja restaurant in Kozle. The magazine provides self-employment and training opportunities to some of the most vulnerable groups in Macedonian society.
At the event, members will have the opportunity to learn more about the organization, congratulate 2013’s top
sales people and enjoy a traditional Thanksgiving meal together with the whole team.
This year’s holiday party will combine several American traditions: jazz, great holiday food and popular American
drinks. We plan to make it our biggest ever, so are encouraging members to bring their spouses, clients, business partners and government contacts. The festivities will kick off at 7:00 pm on December 11th at the Vodenica
Restaurant wine bar and conference room. Don’t miss it!
With best wishes for an enjoyable and safe holiday season,
Michelle Osmanli
Executive Director
American Chamber of Commerce in Macedonia • Ivo Lola Ribar 59A-1/15, 1000 Skopje, Macedonia
Phone: (+389 2) 3216 714; Fax (389) 2 3246 950 • info@amcham.com.mk www.amcham.com.mk
Emerging Macedonia Fall 2013 Issue 39
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Emerging Macedonia Fall 2013 Issue 39
CONTENTS
ANALYSIS
06 Replicating the U.S. Energy Revolution
08 Macedonia’s Energy Market Transformation
Interview with Werner Hengst,
Chairman of the Management Board of EVN Macedonia
11 The Future of Macedonia’s Steel Industry
Interview with Juan Pedro Jimenez Navarro, CEO, ArcelorMittal Skopje
13 To Frack or Not to Frack?
16 Focusing on the Region’s Energy Source Diversity and
Innovation
Interview with Mary Stickles, Regional Economic Coordinator, U.S.
Embassy in Zagreb
19 The Need to Improve the Law on Donations and Sponsorships
20 Work Permit Process for Foreigners Continues to Change
PAST EVENTS
21 AmCham Macedonia Campaign “Stay Healthy: Buy Originals!”
23 Advantages of Gender Diversity in Organizational Leadership,
Strategy and Innovation
24 IPR Teachers Awards
25 Best practices sharing meeting with the US Embassy HRO
26 2013 Amcham General Assembly
28 AmCham Macedonia Member List 2013
29 AmCham Advantage Program
30 Announcements
Emerging Macedonia is a quarterly publication of AmCham Macedonia. No reproduction of any materials published in Emerging Macedonia is permitted without the
explicit written permission of AmCham Macedonia. The articles in the magazine express the opinions of the authors and do not necessarily reflect the position of AmCham
Macedonia, its members, board of directors or staff. While AmCham Macedonia makes every effort to ensure the accuracy of all published information, AmCham Macedonia
is not responsible for errors or omissions. The magazine is available on our web site: www.amcham.com.mk
EDITOR-IN-CHIEF: Michelle Osmanli • PHOTOGRAPHER: Maja Janevska Ilieva • LAYOUT AND DESIGN: Emilija Haralampieva
• PRINTING: Propoint Print House • JOURNALIST CONTRIBUTOR: Sinisa Jakov Marusic • ADVERTISING INQUIRIES: info@amcham.com.mk •
Emerging Macedonia Fall 2013 Issue 39
5
ANALYSIS
Replicating the U.S. Energy Revolution
Leaders around the world are realizing the necessity to respond
as quickly as possible to the U.S. shale gas revolution in order to
maintain competitiveness. There are big stakes riding on their ability
to successfully manage this change.
Only a decade ago, hardly anyone knew about a
method of extracting natural gas from shale called
“fracking”. Its inventor, George P. Mitchell, faced
plenty of skepticism and opposition in his effort to introduce his invention to the industry. Today, his innovation is paying bid dividends, especially to the U.S.
energy industry where the early and large scale adoption of the technology has set off nothing short of an
industry revolution, providing a much needed boost
to the otherwise stagnating national economy.
According to a very recent study from IHS Cera, the
shale gas revolution “has dramatically transformed
the outlook for U.S. energy supplies” and “is also
having a profound economic impact – creating jobs,
reducing consumer cost of natural gas and electricity, stimulating economic growth and bolstering federal, state and local tax revenue”. The IHS Global Insight study found that shale gas production supported more than 600,000 United States-based jobs in
2010, a number that is projected to grow to nearly
870,000 by 2015, while contributing more than $118
billion to the country’s GDP.
Boost in Investments
Thanks to the combined effect from the increased
production of oil and shale gas, the prices of energy in the U.S. have dramatically dropped, giving
the U.S.-based businesses a competitive edge over
their counterparts in Europe and Asia. U.S. gas prices
have dropped fourfold in the past six years, attracting many energy-intensive industries to invest or reinvest, sparking the ‘re-industrialisation’ of a mature economy where manufacturing’s share of total
employment has declined steadily over the last 30
years. At the beginning of this year, companies from
the metal and petrochemical industries as well as
others have announced more than $90 billion worth
of investments in the United States, largely thanks
to the sudden availability of cheap natural gas.
6
Greg Garland, Chief Executive of Phillips 66, a U.S.
chemicals and refining group, said the boom in the
country’s shale gas and oil production was a “huge
change” for the US economy. “This revolution is creating great opportunities to increase manufacturing
capability, and has tremendous potential for economic impact and job creation,” he told FT.com.
And with estimated natural gas reserves sufficient for
the next 100 years, investors in U.S. heavy industry
don’t need to worry that this is a passing trend. Energy experts now consider it plausible that North America could attain full energy independence by 2020.
While the United States is reaping benefits from its
early jump onto the shale gas bandwagon, the prospects for a similar European energy revolution are
much gloomier.
Response of Other Major Economies
For obvious reasons, the U.S. investment boom has
caused worries among manufacturers and governments in Europe. Manufacturers in energy-intensive
sectors fear a loss in competitiveness relative to U.S.based players while their governments fear a major
manufacturing migration across the Atlantic. After
all, the U.S. gas price is 3-4 times cheaper than that
in Europe and electricity 50% less. The 2010 move of
German car giant, BMW, to build a carbon fiber plant
in Washington State helped feed such fears, since it
was clearly motivated by energy price differentials in
the EU and the United States. 1
British and German efforts to catch up and begin extracting their own resources of shale gas are stuck
1
Source: Bryant, Chris. High European energy prices drive
BMW to US. http://www.ft.com/cms/s/0/be69a732-ab5a11e2-8c63-00144feabdc0.html#axzz2jfHATVQX
2
Source: Roland Festor, EU Affairs Director of the
International Association of Oil and Gas Producers on
October 9, 2013.
Emerging Macedonia Fall 2013 Issue 39
ANALYSIS
in complicated legal procedures and environmental
concerns. The fact that much of their shale gas deposits lay beneath densely populated areas is also
not helping. France on the other hand, confirmed its
ban on shale gas exploitation this October.
While cheaper gas would be great, leaders on the
European continent are concerned that the environmental impacts and potential for public backlash
do not currently outweigh the potential benefits of
shale gas extraction. The European Union’s ten-year
growth strategy, Europe 2020, focuses on supporting innovation in energy-intensive industries as part
of creating a resource efficient economy. There is no
mention of the need to exploit latent energy sources
on the continent as a top economic growth priority.
Instead, the European Parliament recently moved to
require that environmental impact studies be performed before any test drilling for shale gas begins.
In response, the International Association of Oil &
Gas Producers’ stated that the new requirement,
“would require undertaking long and complex environmental studies at a very early stage in the exploration phase, undermining - without bringing additional environmental benefits - the efforts to develop domestic oil and gas opportunities, such as gas
from shale.” 2 The initial reluctance of Europe’s leading economies to embrace and exploit shale gas has
led many observers to conclude that Europe is highly
unlikely to replicate the U.S. model in this area.
For now, Russia does not seem very interested in
exploring its vast quantities of shale gas in addition
to its already profitable oil industry. It is yet unclear
whether China will shift some of its investment in
coal-fired plants toward shale gas exploration and
exploitation. Some observers say Chinese shale gas
could give a second wind to that country’s industrial revolution, adding cheaper energy to the already cheap labor. At a
minimum, increased natural gas usage would likely improve China’s notoriously poor urban air quality and
reduce the greenhouse gases emitted
from the country.
While the United States is the only major
economy benefiting from reduced energy
prices, according to Matthew Lynn, a financial journalist based in London, “all
of the major oil and energy exporters
will suffer…As other countries develop their industries, don’t be
surprised if the oil price falls. It
Emerging Macedonia Fall 2013 Issue 39
is not just the price that matters. With demand falling, OPEC will have to cut supply to hold the price
up. Either way, revenues fall… The Middle East will
be hit very hard,” Lynn predicts.
Eastern European Shale Gas Dreams
Given the challenges already faced in many western European countries, Eastern European countries
have become the next “great hope” for shale gas exploration companies like Chevron. The U.S. Energy
Information Administration has estimated that the
combined gas reserves in Romania, Bulgaria and
Hungary could equal more than 535 billion cubic metres of gas, enough to cover Romania’s consumption
for almost 40 years.
Companies are seeking opportunities to make a
profit while helping increase these countries’ energy independence, however it has not been smooth
sailing to this point. Chevron’s web site explains that,
In July 2011, Chevron was selected by the Bulgarian government as the winning bidder for a
five year exploration permit for a prospective
natural gas from shale block of approximately
440,000 hectares. The block includes land in the
provinces of Dobrich, Razgrad, Shumen, Silistra
and Varna. In January 2012, the Bulgarian parliament imposed a ban on hydraulic fracturing,
a technology commonly used for shale exploration and production. Chevron is continuing to
work closely with the government of Bulgaria
to provide the necessary assurances to the government and the public that hydrocarbons from
shale can be developed safely and responsibly.
Earlier this year, Romania lifted a moratorium on
fracking and the government granted Chevron permission to explore for gas on a number of sites in the
country. Chevron now holds leases for shale gas exploration and evaluation covering more than four
million acres across Bulgaria, Poland and Romania.
But no matter the scale of the plans, it would take
years before they could be fully carried out. Sally
Jones, Chevron’s External Communications Adviser for Europe, Eurasia and the Middle East, told The
Globe and Mail in August. “This phase of exploratory
work will take anywhere between three to five years.
Then we will have a clearer idea of whether hydrocarbons are actually present, their potential scale,
and whether they can be developed commercially.
So, it may then be 10-15 years before full commercialization,” Jones said.
7
ANALYSIS
Macedonia’s Energy Market
Transformation
Interview with Werner Hengst,
Chairman of the Management Board of EVN Macedonia
that their implementation beginning immediately. This requires cooperation on all levels and partnership between the public and private sector, but
also regional cooperation. It is crucial for the development of the energy sector and its ability to meet
consumer needs. It’s a broader view, which of course
has to start from the foundation. What do I mean by
this? To provide common action and achieve effects
at the national and regional level, each stakeholder
must first anticipate the needs that arise within its
sphere of influence. Keeping this in mind, we worked
on creating a framework that would take into account the future needs of the market, key economic and political indicators and we made a long-term
Master Plan for investing in the distribution system
in the following years. With the exception of clearly defining all future projects, this document is the
foundation for our involvement in energy development at the national and regional level.
EM: Regionally speaking, what are the big energy
challenges in the next several decades?
Given that Macedonia is part of a region characterized by a general deficit of energy and growing economies, it will definitely be a challenge to provide a
stable supply of energy in the future. It is especially important for this region because most of these
countries are dependent on one fuel, as is Macedonia’s case. Undoubtedly, the demand for energy will
grow and countries are increasingly becoming dependent on imports.
To ensure long-term, reliable supply of electricity,
the biggest challenges we must face as soon as possible are those related to providing reliable energy
from a variety of sources and with greater energy efficiency in everyday life.
Energy production is essentially an activity based on
long-term and sustainable plans; it is critical, however,
8
EM: Is the situation ripe for formation of a regional
energy market?
Market liberalization is a process that is in different
stages in different countries in the region. Market
liberalization and the regional energy market concept have a common goal: to create a common market. It is actually in line with the Athens memorandum that regional countries signed in 2005, aimed
at creating a single energy market for electricity and
gas that would function under the same standards
as those of EU countries. This document has determined the development of the energy market in the
region and today, all of the changes and reforms that
have been made have arisen from it. Market players
have already implemented the necessary prerequisites to enable the implementation of these changes, but the goal remains the same: reliability of supply and ensuring long-term energy sources.
Emerging Macedonia Fall 2013 Issue 39
ANALYSIS
EM: EVN has been active in Macedonia for seven
years. What have you done so far in terms of
investments to improve the power supply to
households and economy?
The entrance of EVN Macedonia marked the start of
the transformation of the energy market for electricity. EVN Macedonia invested over 200 million EUR
in the modernization of the grid, construction of a
new grid and replacement of meters. It is especially important to mention the company’s investments
in its human capital, which is now prepared to serve
market needs. But investment is a continuous process that must meet customer needs. This is why we
constantly review and update our investment plans,
because our main goal is to provide conditions for
development that will meet the needs of customers
and enable fast implementation
of their development plans.
EVN Macedonia has been active
also in the field of CSR with the implementation of large-scale community projects each year. In the
past period the focus was on socially vulnerable categories of citizens to whom we provided needed support in areas such as health
and education. The CSR team of
the company has been providing
energy safety and saving trainings to these citizens. EVN initiated and participated in AmCham’s
CSR committee activities for support to the “11 Oktomvri” orphanage, where we organized a one-day
training for the children.
EM: As a company that operates the electricity distribution grid in the country, EVN recently revealed its master plan for the next 20 years.
What amount do you plan to invest in the country’s power grid in the next two decades, where
and to what effect?
The Master Plan is a document or a project that our
teams worked on for two years. To get to the final result, we took into account all macroeconomic data
by relevant institutions, such as NBRM, the Ministry
of Finance, World Bank, IMF, EBRD and many others as well as the national documents for energy
Emerging Macedonia Fall 2013 Issue 39
development drafted by the Ministry of Economy
and the Government of R. Macedonia. We also took
into account the documents of the Energy Regulatory Commission and of many other relevant institutions and companies.
The Master Plan incorporates all investments worth
over one billion Euros that will be made in the next
twenty years. These involve capital projects in the
distribution grid that will serve as the basis for economic growth of the country, but also some smallerscale projects in the distribution grid that would contribute to providing reliability of supply to end users.
The Master plan is important not only for the company, but is also significant for the development of
the energy sector overall and is the basis for the economic development of the country, because it meets
the needs of current and future customers.
EM: As a foreign company, and one of the biggest
investors that play a significant role in the development of the Macedonian economy, how
would you describe the relations with the Macedonian government and the business sector?
EVN Macedonia is in the country for seven years already and our business policy is to build solid partnership relations with all stakeholders. Although we
had some disagreements with certain institutions at
the beginning, we overcame this situation constructively and are now working on a partnership basis
with both local and central institutions. In my experience, partnerships between the private and public sector are extremely
important.
Continued on page 25
9
ANALYSIS
10
Emerging Macedonia Fall 2013 Issue 39
ANALYSIS
The Future of Macedonia’s
Steel Industry
Interview with
Juan Pedro Jimenez Navarro,
CEO, ArcelorMittal Skopje
EM: Please tell us a bit about your company and its
investment in Macedonia.
ArcelorMittal Skopje (AM Skopje) is one of the most
successful and largest manufacturers in the steel
industry. After acquisition by ArcelorMittal in May
2004, ArcelorMittal Skopje redesigned its products
for an efficient and effective start and provided optimal allocation of all available resources. The company manufactures cold rolled, galvanized and organic coated sheets. These products are easily customizable, which significantly facilitates the process
of cold forming, and also are ideal for drawing cold
valanite sheets used for rolling and drawing, where
strength, hardness and elasticity are needed in one
package. They are commonly used in the manufacture of home appliances, roofs and gutters, tubes,
sandwich panels, furniture, radiators and drums.
Hot galvanized products can be used in a very wide
range of applications for industrial markets as well as
indoor and outdoor spaces. Specially developed to
meet the need for strength, durability and efficiency,
plasticized sheet is the default solution for high quality products with organic coating. We sell our products mainly in the Balkan region, EU-28 and Turkey.
Through the core values of leadership, quality and
sustainability, we are committed to work in a responsible way with respect to the health, safety and welfare of our employees and the community in which
we operate.
Emerging Macedonia Fall 2013 Issue 39
In the last year, the company invested 3.5 million
Euros in a new galvanizing furnace, which was presented at last year’s Customer Day. The investment
raised our views on the state-of-the-art technology
of galvanizing steel, and enables us to deliver better
quality products and comply with the environmental
regulations.
EM: In steel production, just how much of a role
does energy play in ensuring your global
competitiveness? What are the other key
factors to your competitiveness?
Energy makes up a full 30% of the transformation
cost of AM Skopje’s CRM. Any energy price change
has a direct impact on our competitiveness. Therefore, energy price stability must be a key outcome
of the cooperation between government and private companies to ensure the competitiveness of
the economy overall. Though the cost of gas has
improved in the last several months, it is still higher than other neighboring countries where our competitors are operating.
Our customer service and quality differentiate AM
Skopje from most of our competitors. As 87% of our
production is for export, maintaining good service
levels is a key factor that requires good cooperation
with the Macedonian administration. We work together on a daily basis to help improve the system.
For example, recently we have implemented the
11
ANALYSIS
inward process that really advanced our competitiveness.
EM: What are the advantages and challenges
associated with producing steel in Macedonia?
The country’s geographic location is an advantage
for covering the Balkan market. Moreover, with the
easy accessability here to the port in Thessaloniki,
we also have a gateway to the global market. On
the other hand, the transport cost is rather high and
challenges our expansion into some of the Balkan
markets. The scarceness of vocational professionals
also creates a challenge for us to find young professionals to become a part of our company.
EM: What path would you like to see decision
makers in Macedonia take to ensure the
sustainability of heavy industry in the country?
The metallurgical industry is facing one of the biggest crises in its history. This crisis is driving the
whole industry to adapt to globalization and the new
demands of the market. Thus all the players in the
industry are working on restructuring. Moreover, in
this restructuration the difference between those
who will disappear and those that will survive can be
influenced by decision makers’ policies. Therefore,
decisions should be made to avoid any additional
pressure in this critical period.
EM: How has the steel industry changed in the last
20 years? How is it likely to develop in the next
20?
The iron and steel industry in the last 20 years has undergone a revolution. Moreover, the industry’s historical crises had a high impact on the way steel is
made, the price, quality and range of products generated and changed the basic structure of the industry.
Since 2008, we have seen major restrictions on or
even declines in the metallurgical industry. However,
as a producer of a fabric of life, the steel industry is
expected to increase production from 1.5 billion tons
up to 2.5 billion tons in the coming years. Emerging
markets will largely increase their demand, which
gives us a very optimistic view of how the steel industry will look in the next 20 years, especially for a
global company like ours that is operating all over
the world.
NEW MEMBER
Starting from 1993, UNIBank has promoted itself as a leader in the group of medium-size banks in the Republic of Macedonia, above all due to the trust confided in us by our clients, as well as to the ongoing process of development of our operations and employees. We have created and implemented various innovative products and services, exclusively as a response
to the needs of our clients, guided by the European and worldwide banking standards. We offer our clients an extraordinary
system of values based on tradition, security and stability. Having grown together with its clients over the years, the bank
may now take pride in the following figures:
1. 20 years of successful and stable operation
2. Over 200,000 clients
3. 35 branches throughout Macedonia
4. The largest number of ATM’s in Macedonia
5. The largest number of cards issued
6. The first bank to introduce chip-protection technology in its operations
7. The first bank to introduce electronic payment via the Internet
8. A new innovative approach to the work
9. Direct and immediate access for and communication with the clients
As a result of UNIBank’s active role in the domestic and international payment operations and throughout its existence, its
financial indicators have been positive in all segments of its operations. Acknowledged as a bank of rapid development, innovation and transparency in its operations, quality services, direct and immediate interaction with its clients, we are recognizable by our mission statement – Clients’ Bank! Guided by the global criteria for client services, we constantly monitor
and measure the satisfaction of our clients. We endeavor to offer our clients the maximum of comfort in use of the banking
services by undertaking ongoing surveys.
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Emerging Macedonia Fall 2013 Issue 39
ANNOUNCEMENTS
To Frack or Not to Frack?
production reaches economies of scale and RES related
technologies are more advanced.
Shale gas is natural gas extracted from unconventional reservoirs found inside shale rock formations deep inside the
earth. Though the industry has known about the existence
of shale gas for a long time, the invention of cost-effective
exploitation technology has led to a sudden and rapid increase of its extraction over the last 10 years.
Author:
Veton Qoku, Lawyer,
Karanovic & Nikolic, d.o.o.
While the energy industry and general public
have focused on promoting renewable energy sources (RES)1 a stealth energy revolution
promises to take the industry in a somewhat
different direction. With oil and conventional
natural gas prices constantly rising, RES still
in the early deployment phase, a new energy
resource has emerged and positioned itself
as a serious alternative on the market: shale
gas.
According to the U.S. Energy Information Administration3,
95 shale basins have already been discovered in 41 countries. The United States is the main producer of shale gas
worldwide, whilst China remains the largest resource potential with an estimated 1.115 trillion cubic feet of exploitable shale gas.4 By exploiting its shale gas resources, the
United States has recently managed to outstrip Russia as
the world’s top oil and natural gas producer. Apart from the
United States and China, the countries with the highest estimated exploitable shale gas include: Algeria, Argentina,
Australia, Brazil, Canada, Mexico, Russia, and South Africa.
On the other side of the Atlantic, Europe has no shale gas
production as of yet. However, prompted by the U.S. success, most European countries have already started examining their potential shale gas resources to determine
3
4
http://www.eia.gov/analysis/studies/worldshalegas/
Id.
Even the most vocal RES advocates
must admit that they are (at least for
the time being) more expensive than
conventional energy sources; this is
why governments worldwide have
introduced incentives2 for investors
in RES. This means additional public
investment in the hopes of eventual returns down the road when RES
1
2
Renewable energy sources include wind,
solar, hydro-electric and tidal power as
well as geothermal energy and biomass.
Feed-in-tariffs, electric utility quota
obligation/renewable portfolio standard,
tradable renewable energy credit,
reductions in sales taxes, energy taxes,
CO2 taxes, VAT and other taxes
Emerging Macedonia Fall 2013 Issue 39
Continued on page 15
13
ANALYSIS
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Emerging Macedonia Fall 2013 Issue 39
ANALYSIS
whether commercially viable quantities exist. According to the most recent information, the European continent sits on several shale gas basins (see
the map below) and Chevron, Shell and ExxonMobil have already been active in shale gas well tests in
a number of countries. There has been no evidence
thus far that Macedonia is working on the discovery
and development of its potential shale gas resources, despite significant activity in neighboring Serbia
and Bulgaria.
• Increases the availability of an energy source that
is cleaner than coal and other traditional fuels;
• It is likely to reduce energy costs across the board;
• Creates jobs;
• Brings much needed funds to struggling local
communities – UK-based companies have agreed
to pay £100,000 to every community located near
an exploratory well as well as an additional 1% of
their revenues if gas is eventually discovered and
extracted; and
• Can be safe, if properly regulated and carried out.
The technique used in shale gas extraction is called
fracking, which is short for hydraulic fracturing.
Fracking involves several steps, the first of which is
Both sides have solid arguments and are fiercely dedrilling, first down to the
fending their respective positions. The scientific deFracking has become bate will surely continue and it will be interesting to
shale layer, then horizonvery controversial on see how politicians will align themselves in the comtally along that layer to
minimize the visible “footthe world stage as ing period. While President Obama seems to be backprint” of the drilling opstakeholders from ing the shale gas drilling in the United States (though
eration. A mixture of wapolitics, industry, he has entirely avoided using the term “fracking”),
ter, sand and chemicals
his French peer, François Hollande, has firmly rejectenvironmental groups
are then injected into the
ed the concept and has supported a ban on the pracground at high pressure to and the general public tice in France. Several other countries (Tunisia, Bulcreate multiple fractures
express their views on
garia) and even one U.S.
in the hard shale layer and
the subject.
state (Vermont) maintain
The challenge would
release the natural gas
fracking bans, while othheld inside. This is a relatively new technique which be to then avoid
ers have imposed tempodiffers significantly different from earlier methods.
overregulation in order rary moratoria on frackFracking has become very controversial on the world
stage as stakeholders from politics, industry, environmental groups and the general public express
their views on the subject. Opponents believe fracking poses a great degree of immediate as well as
long-term environmental and health risk. Their complaints include that the fracking process:
• Causes air pollution – some methane is released
from fracking wells and fracking equipment emits
carbon;
• Affects water supplies – a lot of water is required
for fracking;
• Causes groundwater contamination – fracking
fluids could enter water sources, exposing nearby
residents and farms to toxic chemicals;
• Industrializes the scenic countryside; and
• Causes micro-earthquakes
On the other hand, industry advocates highlight the
following positive aspects of shale gas exploration
and extraction:
Emerging Macedonia Fall 2013 Issue 39
to keep the practice
economically viable
while protecting the
environment and
public health.
ing pending the results
of environmental reviews
(e.g., Quebec, Canada;
Romania; the Karoo region of South Africa).
The issue of shale gas and
fracking will undoubtedly remain a hot topic in the
years to come, since it has so many stakeholders
and will undoubtedly impact global geopolitical interests. Shale gas can provide some countries with
sustainable energy and independence, while at the
same time providing a chance to lower carbon emissions. That is an opportunity which is perhaps too
good to miss and why the best way forward could be
to regulate – not ban – fracking. The challenge would
be to then avoid overregulation in order to keep the
practice economically viable while protecting the
environment and public health. If governments are
successful, the combination of shale gas production
and their ongoing investments in RES could really
change today’s energy reality for the better.
15
ANALYSIS
Focusing on the Region’s Energy Source
Diversity and Innovation
Interview with Mary Stickles,
Regional Economic
Coordinator,
U.S. Embassy in Zagreb
EM: Could you tell us about your role with the U.S.
State Department?
As Regional Economic Coordinator based in Zagreb,
my role is to support the U.S. Embassies in the countries of the former Yugoslavia and Albania. I coordinate several regional programs, and I also try to
make sure that my colleagues are aware of other
programs that may be of value to their host countries and their work. I look for trends in the economic
situation of the countries in the region and look for
ways that we can collaborate in bringing these issues to the attention of U.S. government agencies
in Washington. Together, we encourage the countries of our region to work together, where appropriate. To that end we support regional coordination
through multilateral agreements such as the Central
European Free Trade Agreement, the European Energy Community, and support all countries’ accession to the European Union.
With our Department of Commerce colleagues, we
also look for opportunities to help American companies do business and succeed in the region. The United States and European countries are still recovering from the recent economic downturn; trade and
investment in productive activity are important elements in that effort.
I support the efforts of the American Chambers of
Commerce in the region to cooperate on programming and policy advocacy. In each country the AmCham is a strong and respected voice for the views
of the business community. You take on the difficult
issues, such as intellectual property rights, with innovative programs and creative alliances.
16
EM: You recently visited Macedonia and held
several energy-themed meetings. What were
the key impressions you took away from that
visit?
Governments throughout Europe are very focused
on the importance of diversity of energy types,
routes and sources of supply. The Macedonian government is no exception and is looking to encourage
diversity in the domestic market and position itself
to benefit from future developments in the region,
whether involving traditional fossil fuels or cutting
edge renewable energy. It appears that the government is exploring all options, including new hydroelectric projects, wind farms, natural gas. And all in
the context of the ECC’s carbon emission reduction
goals.
I visited the facilities of one of your newest members,
Veze Sharri, where Arben Abdurahmani is building a
co-generation plant to turn the chicken manure generated by his core egg business into electricity. The
plant is only in the construction phase, but Mr. Abdurahmani has already realized that for the plant to
run efficiently, it will need more fuel than his chicken business can provide. He will need to acquire agricultural waste from the surrounding area, which
will help neighboring farms as well as provide a new
Emerging Macedonia Fall 2013 Issue 39
ANALYSIS
source of clean energy. This is one small example of
the type of innovative project that is necessary to
demonstrate what solutions will work for Macedonia and the other countries of the region.
EM: What are the U.S. policy priorities related to
energy in Macedonia and the region overall?
U.S. energy policy is very much tied to our overall
foreign policy goals. We want Macedonia and the
other countries of the region to continue to become
stronger economic partners with each other and
with the United States. Cross-border trade ties countries together and helps to diffuse political tensions.
Economic growth brings jobs and prosperity, raising the quality of life for all. The economic growth
that all countries need requires investment, whether
domestic or foreign, and all countries
need to create the conditions that
will attract investment. A predictable regulatory environment is,
of course, essential, but so, too
is a predictable supply of necessary inputs, including energy.
U.S. businesses produce some of the best
equipment and technology used in the energy industry, so there are
opportunities for U.S. companies here as well in new
power plants, pipeline construction, smart-grid development and
more.
EM: What do you see as the unique energy-related
advantages and/or challenges in this region vs.
others you’ve worked in?
The energy picture in Southeast Europe is brighter
than for some of the regions in which I have worked,
though much still needs to be done to capitalize on
existing opportunities and to plan for the future.
Some of the countries have proven and potential reserves of oil, natural gas and coal. Others have extensive hydroelectric capacity.
The region is also poised to benefit from some external opportunities such as the Trans Adriatic Pipeline
Emerging Macedonia Fall 2013 Issue 39
that will bring gas from the Caspian Sea to Europe
and provide an alternative source of supply. Croatia
has announced plans to build a Liquified Natural Gas
terminal to further diversify sources and routes. But
to capitalize on the potential of these developments
requires cooperation among the countries of the region – to plan and build the infrastructure and ensure the markets.
Energy sustainability is one of the greatest policy
challenges and opportunities. One of my duties is to
help organize the Brown Forum each year, together
with the Croatian government, the Croatian Chamber of Economy and Croatian Employers Association. The Forum has explored a different trade-related topic each year since 2011 to honor the memory and the mission of former U.S. Secretary of Commerce Ron Brown, who died in a
plane crash in Croatia as he led a
U.S. trade mission to the region
in 1996. For 2014, the topic will
be energy security and will
bring together policy-makers and business leaders
to discuss policy challenges. The event will
also provide a platform for businesses to present practical solutions to energy
challenges. The Brown
Forum will take place in
April 2014, and invitations
to participate will be extended
after the first of the year.
I don’t want to close without mentioning the other regional program that brought me
to Macedonia: Invest for the Future (IFTF) networking platform for women entrepreneurs. I attended
the IFTF#Talent conference in Struga from October
17-19. About 120 women from 15 countries gathered for sessions on leadership and creative business
management. What was unique about this event was
the round-table format that encouraged the participants to learn from each other. Each woman who attended was truly an expert in at least one topic, and
their “lessons” will be made available for others to
learn from on the organization’s web site: www.investforthefuture.biz.
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ANALYSIS
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Emerging Macedonia Fall 2013 Issue 39
ANALYSIS
The Need to Improve the Law on
Donations and Sponsorships
One of AmCham Macedonia’s key priorities is to advance the state of companies’ engagement in and
commitment to corporate social responsibility. Having a functional law that encourages such practices
is a key step toward achieving this goal. Thus, AmCham Macedonia recently joined a call led by AmCham member, Konekt for the Government to continue a process to improve the Law on Donations
and Sponsorships. The call was distributed to a number of relevant State institutions in early September
and recommended that the Law be amended to provide:
• A precise definition and interpretation of all key
terms used in the Law, such as: “donors”, “recipients”, “advertisement” and “promotion”.
Also the terms “public activity” and “public interest” are inconsistent with the specific relevant
criteria attributed to them. A thorough revision
and consolidation with other relevant laws is required.
• A simplified administrative
procedure for determining
whether something is “in the
public interest” and utilizing tax benefits. The current
procedure required to take advantage of tax benefits related to donations is overly complicated. Donors are required
to prove whether a donation
is “in the public interest” (instead of recipients, as in most
systems), there is considerable amount of paperwork and prior approvals are required. Thus the
hassle of the procedure is inconsistent with the
nature of donations, discouraging its use. The
procedure also lacks legal certainty since the definition of “public interest” is open to subjective
interpretation by different officials.
• Remove unnecessary limits on tax benefits: For
a number of reasons, almost no one in the country uses the current incentives provided to reduce
their personal income tax liability when they donate. There are also difficulties exempting VAT
from donations given via telecommunications
(e.g., mobile phone donation drives). The law
should allow natural persons who donate from
their salary-based income to benefit from tax incentives.
• Improve records, reports and control: The process of reporting on received donations/sponsorships burdens the recipients and
does not serve its purpose. Donation-related reporting should
be simplified to allow the Public Revenue Office to determine
the donation and sponsorship
amounts eligible for tax incentives. A clearer line needs to be
drawn between activities related
to controlling the use of tax benefits and those related to catching misuse of donations/sponsorships by recipients.
NEW MEMBER
Van Hool of Belgium manufactures approximately 1.400 buses and coaches, and as many as 4.000 commercial
vehicles annually of which 80% are exported worldwide. With a workforce of over 4.000, Van Hool is a major bus
manufacturer in Europe, offering a complete range of buses for public transport for international markets, ranging from a 9m midi bus to a 25m double articulated low floor bus. For over 65 years, Van Hool has a reputation
for designing and building high quality, state-of-art, customized products.
Emerging Macedonia Fall 2013 Issue 39
19
ANALYSIS
Work Permit Process for Foreigners
Continues to Change
Several recent changes to the Law on Employment and Work on Foreigners may relieve
some of the burden.
Despite the Government’s energetic efforts to attract foreign investors to Macedonia in recent years,
the country’s business visa and work permit processes reflect a more protectionist stance. Anyone who
has applied for a work permit in Macedonia knows
it is a serious undertaking that includes a surprising
number of in-person trips to various institutions to
submit myriad original documents, many times the
same ones in a number of places. Several changes to
the Law on Employment and Work on Foreigners adopted by parliament in September will hopefully relieve at least some of that burden.
The first clarification that these changes provide is
that the Ministry of Interior (the police) is the ultimate decision maker in the work permit application
process. This is the first time that the role of the police is clearly defined in law, but will not change the
process in practice.
The good news:
• The State Employment Agency (SEA) is now required to gather all required documents issued
by other State institutions (e.g., Central Registry), relieving companies of this burden while applying for work permits.
• Companies will no longer be required to report
the termination of the employment of a foreign
national they employ when their work permit expires. The SEA will now update their records automatically and even offers to send an e-reminder to the foreign employee or to the employer
before the current work permit expires.
• According to SEA Director, Popovski, companies
should be able to initiate work permit applications online soon.
• Foreigners will still be required to submit a surprising number of original, hard copy documents,
as before (e.g., employment contract, apartment
rental contract, employee diplomas and professional certificates).
At the same time, the Law on Foreigners was also
changed to allow the Government to approve stays
in Macedonia of up to 15 days for foreigners who
possess a multiple Schengen “C” Visa or who are legal permanent/temporary residents of an EU member state and/or signatory to the Schengen Area.
The creation of this loophole is likely aimed at facilitating the Government’s efforts to attract foreign direct investors. It is unclear whether such exceptions
will be made for current investors, who often face
challenges obtaining visas for even their high level,
key staff. It also remains to be seen how this approval is obtained and what form it will take.
In any case, the standard business visa application
process remains rather onerous. For a full description of it, please see AmCham’s Foreign National
Work Guide.
The bad news:
• The SEA will now charge a fee as part of each foreigner work permit application.
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Emerging Macedonia Fall 2013 Issue 39
ANALYSIS
AmCham Macedonia Campaign
“Stay Healthy: Buy Originals!”
With the financial support from the U.S. Embassy
in Skopje, AmCham Macedonia recently partnered
with the National Coordinative Body for Intellectual Property Rights Protection (NCBIPR) to create
a traveling, interactive exhibition featuring counterfeit cosmetics, drugs, personal hygiene items and
other similar goods found on the local marketplace.
The items were selected for their potential impact
on consumer health and informational leaflets were
distributed to visitors on the potential health effects
of such goods, how to identify them and what to do
if a good is suspected to be counterfeit. In order to
reach a large number of consumers, the exhibition
visited 5 of the country’s largest cities, one each
week throughout October 2013. The outdoor stands
were staffed by inspectors from the State Market Inspectorate, one of the key institutions in the country’s fight against the counterfeit trade.
While Macedonian laws are largely in line with EU
Directives in the IPR sphere, there is a great deal of
public apathy with respect to illegal practices such
Emerging Macedonia Fall 2013 Issue 39
as counterfeiting. The common attitude is that such
practices are necessary in poor countries – in other
words, counterfeiters provide an important public
service by making cheap alternatives to global brand
names available. AmCham Macedonia’s IPR committee (made up of company representatives from
the whole range of IPR-impacted spheres) thought it
was important to help dispel this myth by highlighting the negative impacts that counterfeit goods can
have on consumer health.
The key messages we wanted consumers to take
away were:
1. Almost anything can be counterfeited – including
medicines, food and beverages and condoms;
2. Counterfeits are not always harmless – in addition to being made from cheaper, less effective
materials, they can lead to allergies as well as
other side effects and unexpected interactions;
and
3. Potentially dangerous counterfeits are a local
problem – consumers here should be proactive
and report suspected counterfeits to authorities.
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ANALYSIS
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Emerging Macedonia Fall 2013 Issue 39
PAST EVENTS
Advantages of Gender Diversity in
Organizational Leadership, Strategy and
Innovation
On September 11th, 2013, AmCham Macedonia held
an event on "Advantages of Gender Diversity in Organizational Leadership, Strategy and Innovation" in
Skopje featuring impressive speakers from both the
United States and southeastern Europe.
Ms. Mateja Forstnaric, Partner at Odgers Berndtson,
spoke on solutions to closing the gender gap in business based on her experience guiding and supporting strategic HR practices in southeastern Europe.
She also offered advice on what women can do differently to ensure their rightful place in leadership
roles.
Ms. Emily Fowler, SVP, Strategy & Business Development at Fix Challenges, Inc. offered insights from her
personal experience as a young female professional in the very competitive world of marketing across
North America. She highlighted the work of Barbara Annis & John Gray on “gender intelligence” and
shared her ideas on how to create a productive professional environment that is friendly to participation from both genders.
Emerging Macedonia Fall 2013 Issue 39
The event’s 50+ attendees included members of the
NGO community, the World Bank, AmCham member organizations and students organizations, many
of whom shared their views and opinions openly on
a topic that is rarely raised in the country. This event
was part of AmCham Macedonia’s ongoing efforts
to promote progressive HR practices in the country
and was financially supported by the U.S. Embassy
in Skopje.
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PAST EVENTS
IPR Teachers Awards
As part of its effort to raise general awareness of
intellectual property rights, AmCham Macedonia
joined forces with Microsoft Macedonia’s Partners in
Learning program to organize a competition among
grade school teachers to design class activities or
projects that would introduce IPR themes into classrooms around the country. There were 13 competition entrants and on October 4th, AmCham hosted
an event to honor their efforts and recognize the top
3 winning projects, which were:
1. Marija Kitanovska from Elementary School “Hristo Uzunov” - Kichevo, for the project “Don’t be
Hook be Pan”.
2. Slavica Karbeva from Elementary School “Blaze
Koneski” - Veles, for the project “Little detectives”
3. Nikolina Gjorchevska from Elementary School
“Aleksandar Urdarevski” - Skopje, for the project
“Intellectual Property Rights Project”
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The event included teachers, business people and
representatives of the Ministry of Education and
other relevant government institutions. The event
was also financially supported by funds from a U.S.
embassy grant.
Emerging Macedonia Fall 2013 Issue 39
PAST EVENTS
Best practices sharing meeting with the
US Embassy HRO
On September 26th, members of AmCham Macedonia’s
Workforce Development committee organized a best prac-
tices sharing session with Viviana Guerrero,
Human Resources Officer at the U.S. Embassy
in Macedonia. Ms. Guerrero offered insights
on the formal performance management,
recruitment and job evaluation processes followed by the U.S. State Department in each of
its embassies. Participants discussed the applicability of some of the policies to their own
organizations and shared some the challenges
their organizations faced implementing similar programs. The group also compared notes
on the application of current Labor Law in the
area of job categorization as well as interacting with union organizations in the country.
Werner Hengst interview
continued from page 9
EM: This year the Government postponed liberalization of the electricity market while EVN Macedonia will be in charge of liberalizing the market
for small businesses in 2014 and households in
2015. Your thoughts? Why is this needed? How
it will affect companies?
The second phase of the liberalization process is a
matter of timing and, according to media announcements, it is expected to begin in the spring of next
year. It is part of a set of changes that will inevitably
follow and definitely change the market. It is most
important that all subjects are prepared for what
is to come in order to avoid adverse consequences. All responsibilities, market rules and processes
must be clearly defined for all participants. The transition from one system to another is never simple
and painless. Customers must be informed in time
and be prepared for successful implementation. The
most important thing is the aspect of social support.
This process must be prepared in a very careful way
to avoid putting certain categories of customer, particularly households, in the situation of not being
able to cope. Without social support, the risk for all
customers and suppliers will be bigger. EVN Macedonia is also preparing for the changes that will follow. In the future, customers will be able to choose
Emerging Macedonia Fall 2013 Issue 39
who will supply them with electricity and we hope
that we will be the first choice again because we will
continue to provide impeccable service.
EM: EVN Macedonia showed interest in constructing the Cebren and Galiste hydro power plants
in Macedonia. What are your thoughts on Macedonia’s energy independence?
Energy independence is a top priority of each country, both in the economic and geostrategic sense.
Certainly, Macedonia is a country that must pay
great attention to this area because consumption
is increasing and domestic production must keep
up proportionately. From that perspective, the construction of each new electricity production facility –
specifically the construction of the hydropower plant
Cebren and Galiste, which is now waiting for an investor – is a capital investment and important. But
the conditions under which these investments are
made are important, because these are expensive
projects whose results are seen in the long run. The
newest tender is more interesting; EVN is analyzing
the new conditions in line with our strategy and is always looking for additional possibilities. But at this
moment, our main priority is to stabilize our existing business.
25
PAST EVENTS
2013 Amcham General Assembly
This year, the General Assembly was held on October
16th, 2013. The meeting began with Ms. Liza Popovska, President of the Board during the past year, who
recognized the work of two long time Board members whose mandates were expiring: Stefan Plavjanski was first elected in 2007 and served as Vice President and President for several years and Ruzica Filipceva was first elected in the Board in 2009 and
served as Secretary-Treasurer during all four years.
After presenting key points from the 2013-2015 strategy adopted by the Board of Directors last fall, Ms.
Osmanli presented the Year in Review, including the
organization’s activities, communications and financials over the last 12 months. Committee representatives then summarized their recent achievements
and presented their plans for next year.
26
Blagoj Hristov as Vice President of the IPR Committee said their future advocacy activities would be directed at influencing modifications in related laws
and enforcement procedures, raising public awareness as well as cross-industry and cross-country collaboration. The committee will continue to work
closely with governmental bodies involved in IPRs,
hold workshops and roundtables with decision makers, publish position statements on certain IPR topics and issues and propose improvements to the law
enforcement system.
Kiril Estatiev, President of the Legal and Tax Committee, noted that the group will focus on proposing solutions to practical barriers and challenges to
the investment process faced by large international
organizations.
Emerging Macedonia Fall 2013 Issue 39
PAST EVENTS
Radojka Denkovska, President of the CSR committee, said the group will organize workshops and other awareness raising events. The committee may
also work together to promote a global CSR initiative in order to again encourage volunteerism
among member company leadership and staff.
The Workforce Development Committee, led by
Nikola Eftimov, will focus on promoting deeper
forms of cooperation between universities and companies, in particular with respect to creating more
mutually-beneficial internship programs. The group
also plans to cooperate with its peer committees in
other AmChams in the region on sharing best practices.
Emerging Macedonia Fall 2013 Issue 39
The General Assembly then adopted a number of
amendments to the AmCham bylaws and elected 3
new members to its Board of Directors and reelected one member to a second term. Thus, the 2013-15
members of our Board of Directors are:
• Vladimir Dimovski, Managing Partner, McCann
Skopje and Universal Media Skopje
• Mirjana Tanevska-Efremova, Member of the
Management Board, Makedonijaturist AD Skopje
• Liza Popovska, Financial Director/CFO, Pivara AD
Skopje
• Selim Simbil, General Manager, Wabtec MZT
Skopje
Congratulations!
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MEMBERS
AmCham Macedonia Member List 2013
PATRON
Alkaloid
EVN Macedonia
Makedonski Telekom Skopje
Microsoft Macedonia
Okta Skopje
Pivara Skopje
PI Vitaminka Prilep
Skopski Pazar
CORPORATE
Alliance One Macedonia
Arcelormittal CRM Skopje
ASSECO SEE
Avon Cosmetics Macedonia
Avto Moto Sojuz na Makedonija
Cementarnica Usje - Titan Group
CISCO Systems Skopje
Deloitte
DHL Express Macedonia
Diners Club Macedonia
EY Macedonia
European Bank for
Reconstruction and
Development
Eurostandard Banka Skopje
Fersped
Gemak Trade
GD Granit
Grant Thornton Macedonia
HALK BANK Skopje
Hewlett Packard IT BV Branch
Office Skopje
IBM Representative Office
Macedonia
IMB Mlekara Bitola
Johnson Controls Macedonia
Johnson Matthey Macedonia
KN Karanovic & Nikolic
Komercijalna Banka Skopje
KPMG Macedonia
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Makedonijaturist
Makpetrol
Makstil Dufeco Group
McCann Erickson Group Skopje
Merck Sharp and Dohme, MSD
Neocom
ONE Telecommunication
Services
Oracle East Central Europe
Representative Office Skopje
Philip Morris Skopje
PricewaterhouseCoopers
Macedonia
ProCredit Bank Macedonia
Savings House Moznosti
Seavus
Soravia Group
Stopanska Banka Skopje
Tinex-MT
TechnoLogica Macedonia
The Coca Cola Company
*Universal Investment Bank
Skopje
Unija Finansiska Skopje
Valeant
*Van Hool Makedonija
Veropulos
Wabtec MZT Skopje
BUSINESS
Alpha Bank Skopje
Analysis and Advisory Group
Bauart Group
Cakmakova Advocates
CEED Macedonia
Crimson Capital
Duna
Financial Company Mladinec
Futura 2/2
Infinite Solutions
M6
Macedonian Stock Exchange
Skopje
Mepring Engineering
Netra
Nextsense
Nova International Schools
Pasoski Tobacco Dealer
Polenak Law Firm
Savings House FULM
Sinpeks Bitola
SJ Company McDonald’s
Skopje Jazz Festival
Skopski Saem
Teteks Tetovo
Tim Point
University American College
Skopje
Veze Sharri
Vivaks
Vinarska vizba - Tikvesh
Vino-M
Vitalia
Z-SoftNet
ENTREPRENEUR
Beta Consulting
Meloski Consulting
Monevski Law Firm
Motiva
Ultranet
NGO’s
Habitat for Humanity Macedonia
Konekt
LinkAcross
_____________
*New Member
Emerging Macedonia Fall 2013 Issue 39
AMCHAM ADVANTAGE PROGRAM
AmCham Advantage Program
Member to Member Discounts
The AmCham Advantage Program offers valuable discounts to members in good standing at AmCham
member establishment. Detailed information about the program and updated information on discounts
is available on the AmCham Macedonia website: www.amcham.com.mk (under Membership>Advantage
Program). If you are interested in participating in this program, please email info@amcham.com.mk
Emerging Macedonia Fall 2013 Issue 39
29
ANNOUNCEMENTS
Celebrate Thanksgiving with
“Face to Face” Magazine Team
AmCham Macedonia invites its members to celebrate Thanksgiving
together with the association behind the street magazine Face to
Face (Лице в Лице) on December 3rd at 14:00 at the Makedonska
Kukja restaurant in Kozle.
Face to Face provides self-employment and training opportunities
to some of Macedonian society’s most vulnerable groups. At the
event, members will have the opportunity to learn more about the
organization, congratulate 2013’s top sales people and enjoy a traditional Thanksgiving
meal together with the whole team.
Please consider making an in-kind
or cash donation in support of this
organization.
For more detail on giving, please
contact the AmCham Macedonia
Executive Office.
AmCham Board of Directors
Vladimir Dimovski
Managing Partner
McCann Skopje and Universal
Media Skopje
Mirjana Tanevska - Efremova
Member of Management Board
Makedonijaturist AD Skopje
Makram Ghribi
Plant Manager
Johnson Controls Macedonia
Werner Hengst
Chairman of the Management Board
EVN Macedonia
Miroslav Marchev
Holiday Party
Wednesday, December 11th, 2013
To help kick off the holiday season with our members and
friends, AmCham is pleased to invite you to a Holiday
Party on Wednesday, December 11th at Vodenica
Restaurant from 7:00 – 10:00 pm.
This year’s gathering will
feature live jazz music, famous
and delicious U.S. wine and
spirits, door prizes and a
traditional U.S. holiday buffet.
Members’ spouses, partners,
clients and government contacts
are all welcomed!
Tax and Legal Services Director
PricewaterhouseCoopers
Macedonia
Liza Popovska
Financial Director/CFO
Pivara Skopje
Selim Simbil
General Manager
Wabtec MZT Skopje
AmCham
Executive office
Executive Director
Michelle Osmanli
Relationship and Finance Officer
Gordana Karanfiloska- Dimoska
Regulatory Affairs and
Policy Manager
Ivana Naumovska
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Emerging Macedonia Fall 2013 Issue 39
www.okta-elpe.com
Creating a better world today,
for a BETTER TOMORROW!
LIFE IS MOVEMENT
Emerging Macedonia Fall 2013 Issue 39
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Emerging Macedonia Fall 2013 Issue 39