A nalysis - AmCham Macedonia

Transcription

Magazine of the American Chamber of Commerce in Macedonia
www.amcham.com.mk
Bringing eCommerce benefits
home to Macedonia
Analysis in this issue:
The Macedonian eCommerce Paradox
Interview with Vasko Kronevski, CEO of
NextSense
46% of Macedonian Citizens Have Never Bought
Anything Online
The Power of eCommerce
Internet Usage and Shopping Trends in
Central and Eastern Europe
eCommerce Development and Implementation
in Macedonia’s Textile Industry
Emerging Macedonia Spring 2009 Issue 2
EmergingMacedonia
Spring 2009 Issue 2
1
2
Emerging Macedonia Spring 2009
Issue 2
Contents
American Chamber of Commerce in Macedonia
Mitropolit Teodosij Gologanov #42, 1000 Skopje, Macedonia
Phone: (+389 2) 3216 714; Fax (389) 2 3246 950
info@amcham.com.mk www.amcham.com.mk
ANALYSIS
04
The Macedonian eCommerce Paradox
Bozidar Jankovski, Executive Director,
Diners Club Macedonia
06
TRAVEL
16
The Galičnik
Wedding Festival –
Much More than a
Wedding
Thammy Evans, author
of Macedonia: The Bradt
Travel Guide
Interview with
Vasko Kronevski,
CEO of NextSense
09
CaSys
International’s
Business Director
on eCommerce Potential & Challenges,
Interview with Sandra Tomanovic
10
LEGAL &
REGULATORY
REVIEW
18
The Law on
Financial Collateral
Ana Hadzieva, Associate, Polenak Law Firm
46% of Macedonian Citizens Have Never
Bought Anything Online
Biljana Pesevska, Marketing Specialist, Seavus Group
13
Biljana Donovska Gecheva, Director of Card
Operations, UNIBank Skopje
14
Internet Usage
and Shopping
Trends in
Central and
Eastern Europe
20
Macedonia’s New Law on Industrial Property
Zivka Kostovska, SD PETOSEVIC
21
Launch of Comprehensive
Macedonian Legal Database
Boris Lazov, Akademika Manager,
Akademik Publishing Ltd.
PAST EVENTS
22
B2B Event with
AmCham Kosovo
Vesna Kuzmanovic,
Managing Director,
GfK Skopje
24
15
eCommerce Development and
Implementation in Macedonia’s Textile
Industry
Adapted by: Ivana Naumovska,
AmCham Macedonia
Pension Supervision
Agency Leadership
Meets with AmCham Members
26
AmCham Member List
27
AmCham Advantage Program
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.
• EDITOR-IN-CHIEF: Michelle Osmanli • Copy Editors: Ivana Naumovska • LAYOUT, DESIGN AND PRINTING: Propoint Print House •
• SALES & DISTRIBUTION: Ivana Naumovska • ADVERTISING INQUIRIES: info@amcham.com.mk •
Issue 2
3
Analysis
The Macedonian
eCommerce Paradox
Author:
Bozidar Jankovski
Executive Director
“Without ambition one starts nothing.
Without work one finishes nothing.”
Are you familiar with the Macedonian eCommerce
paradox? Even to the newcomer, it is easily identified.
Namely, various studies and surveys indicate there to
be between 200,000-700,000 Internet subscribers
and regular users in Macedonia, yet the number of
Macedonian companies offering products and services for sale online can be described as surprisingly
low, even negligible.
In contrast, it would be difficult to find a Macedonian
company that would not wish to have a storefront or
ad space in downtown Skopje, the country’s capital.
Many companies do this despite the huge expense
to achieve one clear goal: to gain the attention of and
access to the highest concentration of potential customers in the country and immediate
region. But what about the up to 700,000 people with buying power available to them on
the Internet? They could attract these people
with much smaller investment and maintenance costs. What causes this inertia on the
part of the Macedonian business sector? Is it
reluctance or skepticism with regard to modern
technology? Is eCommerce considered too advanced
for the Macedonian business environment?
Macedonian citizens have been ordering books, music and movies from abroad online for a long time.
Over time, this has gradually expanded to include
some small household items and sports equipment.
All orders in these cases involved imports that were
purchased via Internet portals based abroad and had
to undergo standard Customs procedures before
reaching the customer. Thus, the main advantage
of eCommerce – ease of transaction and speedy delivery to one’s home or business – has rarely been
achieved. Thus, the vast majority of Macedonian con4
sumers have used eCommerce to obtain goods not
available or drastically overpriced on the local market, rather than for convenience or speed. Thus, local
products and services have been virtually excluded
from the eCommerce universe, with a few rather recent exceptions.
In May 2007, Diners Club Macedonia completed the
first eCommerce transaction where a Macedonian
credit card was used to purchase a Macedonian
product via a Macedonian Internet portal. That case
involved a pizza delivered in a matter of minutes. This
simple case was the proverbial first step toward bigger and better things.
Next, Diners used the same model to enable online
ticket purchase for shows at the Macedonian Dramatic Theater. This effort mirrored similar services
offered abroad and even integrated the airline industry’s practice of allowing customers to choose their
seat online. Similar projects were launched by other
institutions and there was relatively good promotion
of these efforts in the Macedonian mass media.
service
d
n
a
t
c
u
d
ro
Online p
e factor.
iv
is
c
e
d
e
th
is
y
availabilit
To date,
no comprehensive analysis has been
done on Internet portal usage levels, the volume of
visitors and transactions, the number of companies
offering online services, and the number of Macedonian citizens taking advantage of them. In the Diners
case, roughly 40 theater tickets and 50 pizzas were
purchased online in an entire year; rather insignificant and disappointing figures from a business perspective. What explains this weak response? Don’t
Macedonian citizens need to save time, stress, gas,
and money? Don’t Macedonian companies wish to
increase their consumer base and/or decrease operational costs? Isn’t the Macedonian market governed
by the same rules and principles governing the global marketplace?
Issue 2
Fault for low usage of credit cards on the Internet
lies with us, the credit card issuers, and on low public
awareness. Namely, we have allowed a widespread
sense that credit card usage is unsafe and that card
users are much more likely to be abused online. The
truth is, of course, completely different. First, abuse
of credit cards used online accounts for only a small
portion of all credit card abuse. Second and more important, the consequences of most such abuses are
borne by credit card issuers rather than by consumers. For these reasons, credit card issuers must clearly
reinforce the message that credit cards are safe for
eCommerce transactions and that users are protected.
Delivery challenges are real and, unfortunately, must be solved by each company. If a
consumer must wait for two days to receive
an item purchased online from Skopje or Kumanovo, he/she will probably prefer to pay
for and retrieve the item in person. Groups of
companies interested in eCommerce should
work together to demand higher delivery standards and economical pricing. This should also
be seen as an excellent opportunity for entrepreneurs with expertise in eCommerce-enabled delivery services that are fast and reliable.
At first eCommerce was used by only a small number of people (geographically isolated, upper-middle
class, etc.), but it has evolved into a standard, even
dominant, way of doing business. As such, eCommerce offers new possibilities and privileges such
as custom designing your own athletic shoes, ordering and paying for them via the Internet for delivery
in three days. It’s easy, it’s accessible and no time is
wasted.
Issue 2
Consumers will get the message, as well. They will
save time and enjoy a richer variety of goods and services. They will have all information on a given product or service in one place so their costs of finding
and buying will be lower. Though consumers cannot
influence the spread and scope of eCommerce at the
beginning, their actions will strongly influence company competitiveness and service quality.
just one
:
re
e
h
t
t
u
o
s
ic
t
For those skep
elieved
b
e
v
a
h
ld
u
o
w
year ago, who
tradition of
y
il
a
d
r
u
o
e
c
la
we would rep
interacting
y
b
e
e
ff
o
c
f
o
having a cup
on Facebook?
We now arrive at the decisive factor: online
product and service availability! This factor
lies squarely with companies and depends on their
willingness to change, adapt and take on new challenges. In today’s environment of rapidly changing
technology and a serious economic crisis, successful companies are those that react most quickly to
market changes. The most successful are those that
create or stimulate consumer needs and then meet
them. These innovators create a kind of consumer
dependency that is less sensitive to greater economic trends outside the company’s control.
Local companies must understand that eCommerce
can make a positive impact on their businesses in
several ways. Costs related to maintaining “brick and
mortar” shops, warehouse facilities and inventory are
minimized. This automatically implies a need for less
staff and greater control over finances that are used
more efficiently and effectively. The most important benefit is the company’s drastically broadened
circle of potential customers obtained in return for
a fraction of their traditional marketing budget. Local companies may also be stimulated by yet another
fact: companies that introduce eCommerce in their
operations have recorded an average increase in
turnover of 22%.
Analysis
In my opinion, explanations should be sought in a
combination of places, namely:
- Consumer fear of using credit cards to process
transactions on the Internet;
- Delivery issues; and
- The small number of local products and services
available online fails to create usage habits in
consumers.
Of course, the Macedonian
eCommerce paradox will not last. The army of Internet users that is already participating in this global
network to read the news and communicate with
friends and strangers alike will slowly become an
army of Internet consumers. For those skeptics out
there: just one year ago, who would have believed
we would replace our daily tradition of having a cup
of coffee by interacting on Facebook? This is now a
reality. Thus, it is a mistake to underestimate eCommerce and its future influence on the Macedonian
marketplace.
Everyone stands to benefit from participating in
eCommerce, but local companies and financial institutions must make the first move. Those who do will
gain new clients and record new profits. Those who
wait for better times or simply stick to traditional
sales methods will likely lose pace, clients and profit.
As is so often the case, we need to combine our ambition with a lot more work.
5
Analysis
Interview with
Vasko Kronevski, CEO of NextSense
Next Sense’s CEO explains the long eCommerce solution
sales cycle in Macedonia as well as the need for intense
local business strategy development.
What do you believe are the main barriers to widespread implementation of
eCommerce solutions in Macedonia?
VK: At this point there are no barriers per
se, other than local company’s understanding of both parts of that term: the “e”
and the “Commerce”. Of course not every
traditional business makes sense as an ebusiness and the advent of eCommerce
has created many new business models.
As a trendsetting IT solutions company in
the region, we continue to make a huge
investment in helping local companies
to first shape a viable and realistic e-business concept including logistics, tax issues, Customs process management and
transportation. There is, of course, some
risk that this work will not result in concrete business down the road, but we feel
there will be dividends for early movers
and those that invest in their customers’
knowledge. So far, a few companies have
developed a complete concept and we
have succeeded in providing them with a
full solution. What is most important to us
is that we are on their short list of implementing partners when they are ready to
move forward.
What are some of the misconceptions
local companies have about eCommerce?
VK: The good news is that more and more
companies are showing interest in eCommerce. At first, they are generally inter6
ested in having everything at once, the
whole package – and at a very low price.
When they realize that the cost of e-enabling their business is directly related
to its complexity, they begin to consider
what is really business-critical. It is fairly
predictable and necessary process.
If an existing consumer goods retail
chain wants to simply start selling their
products online for home delivery,
what is the process?
VK: That depends on how integrated it
needs to be with other systems (e.g., those
for tracking inventory, coordinating logistics) as well as the number of products offered and whether the entire process will
be automated. For example, some local
companies offer a sort of half eCommerce
solution whereby their site presents the
product catalogue and accepts orders,
then a human intervenes to arrange for
delivery and payment offline (so called
“post-payment”). That is still eCommerce,
and can work well for small operations.
Though it may not be apparent to customers, eCommerce for big retail companies is extremely complex. For the whole
process to be successful it is important to
develop the right concept and then seek
the right IT solution. Generally, they need
to first develop a special catalogue listing
unique system-compliant names for each
product, then the corresponding customer-facing names, product images, corEmerging Macedonia Spring 2009
Issue 2
What about the e- transaction management part of the equation?
high value on customer satisfaction must increase their focus on e-banking solutions. Customers do not want to conduct every small bank transaction in person.
What about utility company payments?
VK: Some utility companies are introducing electronic bill
payment for their customers. Also some of the banks enable
simplified bill payments through e-Banking payments. The
biggest problem in utility payments through credit cards is
that these are very low margin businesses and today’s average credit card transaction cost is simply to high to make
VK: Until 2008, it was impossible to process e-transactions in the country because
no local bank offered such services. Even
today, there is no bank equivalent of a
“one-stop-shop” for eCommerce. Compa-
... For the whole process to be successful it is important to develop
the right concept and then seek
the right IT solution...
nies need to sign at least 2 separate contracts and establish 2 specialized eCommerce merchant accounts to be able to accept all major credit cards on their site. To
my knowledge, there are only 2 banks currently offering these accounts, so there is
little competition and choice among service providers.
What are the e-banking trends in Macedonia?
VK: Nextsense is one of the leading eBanking solution providers in Macedonia. To my knowledge, there are at least
3 banks already offering fairly advanced
e-services to their clients. This really depends, again, on their strategy. I believe
that the current global economic crisis
will force banks to cut costs, fight to keep
key clients and seek new revenue streams
through more advanced e-Banking services. Today, essentially all banks offer similar services to a very broad and disparate
group of customers. Banks that place a
Issue 2
this attractive. I don’t expect this to change in the near term.
Again, this depends on local banks realizing the potential of
reducing foot traffic in their branches, including teller workload and benefitting from a high number of relatively small
credit card transactions. I believe a lot of customers would
pay their utility bills online, if given the opportunity.
In addition to eCommerce solutions, what are some of
NextSense’s other activities?
VK: We are implementing various eGovernment projects
(e.g., paperless Government sessions, paperless parliament
sessions, online employment services for civil service positions, online license application and distribution, mobile
parking) implemented throughout the region, NextSense
also has invested in the spin off business with www.httpool.
com.mk, an online advertising business that provides a onestop-shop for web promotion tailored to our customers’ requirements. We also invested in www.exploringmacedonia.
com, a nation-wide tourism portal, which we feel is a critical
link in promoting and selling Macedonian tourism abroad.
7
Analysis
responding prices, e-discounts, temporary promotional prices, etc. For large projects, this process alone can take months
before a single transaction is processed
online. This can be even longer if you want
to sell highly-regulated products such as
alcohol or tobacco. Serious companies realize that this is a necessary investment to
ensure success. There are no shortcuts.
The best executives used to run businesses.
Now they create wealth.
Wherever you are multinational or a local company, large or small, our aim is to
help you gain a competitive advantage in you sector. Understanding your needs,
we provide innovative, tailor made solutions that offer you the perfect balance of
product capability, industry skills and local knowledge.
Grant Thornton is a premier Macedonian
accounting, tax and business advisory firm
dedicated to serving the needs of privately
held businesses and public interest
entities. We provide a wide range of
services to a substantial and diversified
client base that include corporations,
financial institutions, governments and
high net worth individuals.
We are a recognised leader in the
accounting profession in Macedonia as a
preferred services provider to
Macedonian Stock Exchange Listed
Companies and to the Banking Industry,
building up the reputation based on
distinctive client service delivered by
outstanding people and partner-level
involvement.
Services Offered:
• Assurance Services;
• Business Risk Services;
• Mergers & Acquisitions;
• Recovery & Reorganization;
• Project Finance;
• Transaction Advisory Services;
• Valuations;
• Tax Services;
• Legal Services.
Contact us:
M.H. Jasmin 52v-1/7
1000 Skopje, Macedonia
tel. + 389 2 3214 700
fax. + 389 2 3214 710
www.grant-thornton.com.mk
© 2009 Grant Thornton. All rights reserved
Macedonian Member Firm of Grant Thornton International Ltd
8
“We base our business on long-term relationships
with our clients and strive to deliver added value on
a sustained basis. We pursue excellence and seek to
innovate in everything we do. We have the
geographic coverage that allows us to help our
clients where they do business. Our global strength
is founded upon the strength of our member firms
and their local practices and relationships.”
David McDonnell
Chief Executive Officer
Grant Thornton International
Issue 2
Interviewer:
Michelle Osmanli & Zoran Ilievski,
AmCham Macedonia
Sandra Tomanovic discusses cashless payment development
and its influence on eCommerce in Macedonia.
◊ From the outside, the credit card business appears complicated. What is CaSys’ role in the Macedonian credit card marketplace?
This business is complex, especially given the number
of players, their size and the need to communicate globally on a common infrastructure. Casys is an independent regional card processor that offers banks a complete card processing and reporting system so they can
offer new products to their clients without “reinventing
the wheel. ”We are a certified MasterCard member service provider and a third party processor for Visa, which
means we can lower initial as well as operational costs
for members of these international card networks. We
also manage other card brands, even those unique to a
single bank. We are nothing without our bank partners,
given that we do not offer card services directly to end
users.
◊ How did you begin working in Macedonia? How
has your company developed over time?
The Government of Macedonia formed the National
Payment Card Center in 2002 and two banks purchased
70% of its shares via a privatization process in 2002. In
2003, two private individuals from Bulgaria purchased
the shares from those banks and renamed the organization to CaSys.
The business has grown from 10 bank clients in 2006
to 16 this year, encompassing almost all card business
in the country; that is a 62,5 % percent increase in less
than three years. The number of transactions has likewise grown rapidly – from 0.7 million processed each
month in 2006 to 4.5 million monthly in 2008. So far CaSys has personalized 0.5 million cards for Macedonian
market.
We are also providing similar services in Bulgaria and
Albania.
Issue 2
◊ Why aren’t more local
companies and organizations
offering customers the option to pay with credit cards
either online or otherwise?
In short, transaction fees are still
too high. Macedonia does not
have national net settlement,
which means every transaction
must be processed at a higher
expense abroad. This is not
the case in countries such as
Bulgaria. Unfortunately, there
is nothing an individual local
company can do to negotiate
lower fees, given the size of the
local market.
In terms of technical challenges,
each payment card service (e.g.,
online shopping) offered under
the global payment card brands (MasterCard, Visa, Diners, AmEx) has to pass through a very complex, strict
and expensive certification process. Casys’ online shopping service completed this certification successfully,
enabling local companies working with us to offer their
goods and services online for a relatively low financial
and time investment.
Another issue is licenses that banks should acquire
from global payment card organizations (MasterCard,
Visa, Diners, AmEx) for online shopping. Currently
there is no one-stop-shop bank in the country that is
licensed by more than one global payment card organization for online shopping. This means that companies must either restrict the cards they will accept or
sign separate agreements with 2 or more banks, creating multiple accounts, and so forth. It becomes difficult
to manage and poses a serious challenge for smaller
organizations.
Continued on page 11
9
Analysis
CaSys International’s Business
Director on eCommerce
Potential & Challenges
Analysis
46% of Macedonian Citizens
Have Never Bought Anything
Online1
products and services (e.g., ProjectOffice.net, an online project management tool; Seavus Project Viewer;
Seavus DropMind™, an online and desktop mind mapping software) all over the world exclusively via the
Internet. As an IT services company based in Macedonia, we strive to gain insight into local eCommerce perspectives, given that they seem out of step with global
trends. While far from conclusive, our online survey results suggest that weak supply (of desirable products
and services online) is a bigger factor than demand (online buyer readiness).
The research says…
Author:
Biljana Pesevska
Marketing Specialist
Seavus Group
E
nabling two-way customer interaction via the
Internet has become a must for every business
that wants to succeed in the global marketplace.
While an online presence was just one of many considerations 10-15 years ago, it is now one of the first things
to be considered when establishing a new business.
Recent research conducted by Seavus Group suggests
two things: businesses operating in Macedonia don’t
expect to increase revenues from their Internet presence and they are generally ill-prepared to take advantage of the opportunities the Internet provides. In the
meantime, these opportunities are increasing in number and complexity. While most local companies still
see their web presence as a one-way communication
tool – a mere display of their products and/or services
which must be obtained through traditional means –
there are a handful of company websites enabled for
online transactions.
Seavus Group has a different perspective on eCommerce, given that the company processes online orders
and payments on a daily basis, in real time. We sell our
1 Figure according to research conducted by Seavus performed via an online survey on March 29-30, 2009. There were
84 responses, 60% of whom were 24-30 years old.
10
In early 2009, the Internet is not the first place people
go shopping – 46% of Macedonian citizens have never
paid online either for a service or a product. However,
many folks are shopping online from sites based elsewhere. In fact, 95.2% of respondents said they had never bought anything online from a company located in
Macedonia.
Entrepreneurs, gear up: most Macedonians want to
buy theater tickets, music, order food, buy electronic
goods, pay for services and do many other things that
are currently not available online. 86% of respondents
said they would be happy to buy from Macedonian
websites. It should be noted that 60% of survey respondents ranged from 24-30 years old, which is a key target
market for any company looking to establish long term
customer loyalty.
What is Keeping Customers From Giving You Their
Cash?
Our research identifies the following factors that stop
consumers from buying from Macedonian websites:
√ The things I am looking for cannot be bought online: 38.8%
√ I cannot find the things I want to buy online: 27.5%
√ I do not trust Macedonian web shops: 27.5%
√ I am afraid for the safety of my credit card information: 25%
√ The things I want to buy are more expensive online: 8.8%
Furthermore, a vast majority (over 90%) would be very
happy to buy things they want online. What’s more,
they prefer your business: 75% said they would rather
buy from a Macedonian web shop than from a foreign
one.
Issue 2
Tomanovic interview continued from page 9
Despite various measures to encourage cashless payment in
the country (e.g., payment since 2006 of all public servant
salaries to cards), almost no Macedonian government service
providers currently accept credit cards from citizens. A notable
exception is the Central Registry, which recently began allowing users to pay fees and receive their reports online.
◊ What is CaSys’ role in eCommerce in Macedonia?
Casys facilitates payments made online the same way we
do for payments made at physical POS terminals. We do not
dictate the appearance or design of the vendor’s site (e.g.,
number of clicks to complete an order); when users are ready
to pay, they are redirected to a CaSys payment page to enter
and confirm their card details. In fact, the vendor doesn’t even
know which card was used, since we handle all processing
and reporting outside of their site. At some point in the future,
vendors may begin integrating the payment function directly
into their sites, but the required certification process takes a
minimum of 6 months to complete. We believe our current
solution is appropriate for local needs and conditions at this
time.
◊ What portion of the Macedonian eCommerce market
in Macedonia do you manage?
We currently process 100% of all online payments made in the
country. Of course this does not take into account those local
companies that are processing payments for their goods/services in another country, but we think this activity is limited to
10-20 companies.
• Promote your website
Investments in promotional activities are crucial to bring customers to your website. Do it
wisely. Calculate ROI for every promotional
channel you want to use. Use social networks;
they are the least expensive and most effective way to build your brand for Gen X-ers.
• User friendly navigation
Your customers should find want they want
on your website in less than 5 steps. The longer they search, the bigger the chances they
won’t buy or return to your website ever
again.
• Easy and reliable ordering
Simplify your ordering process, requesting
relevant information only. People get scared
when they cannot see the end of the process.
Stress that their personal and credit information is safe with you; make triple sure it is!
• Build trust
Your customers must trust you. You must
meet or even exceed their expectations and
never disappoint them. You will not get a second chance.
Issue 2
We have yet to experience significant growth in the eCommerce business in Macedonia, though there are several notable additions. VIP is already offering online payment options
to its clients and Cosmofon, T-Mobile and T-Home are not far
behind them. In consumer goods, Skopski Pazar, Tim Point and
Exquisite are entering the eCommerce world as well. Macedonian tourism services are also available online through Exploring Macedonia.
We believe that the country holds the potential for some 200
companies to eventually offer their goods and services online.
To compare, Croatia – the country with the largest eCommerce
usage in the region – has roughly 700 online merchants.
◊ Do security concerns unnecessarily reduce demand for
online payment services?
Certainly. The fact is that consumers must carefully protect
their credit card information and quickly report stolen cards
to avoid problems. Once a card has been stolen, it can be used
online and even in traditional shops that do not carefully verify identification. That said, we are not aware of a single case
in which a Macedonian card holder has been abused. This is
largely due to the use of chip cards and the fact that we apply
global standards to protect consumer security, such as our 3D
security model (MasterCard Secure Code and Visa By Visa).
11
Analysis
Based on the research results, there are several key steps that businesses can consider
to grow a sustainable “brick and click” (retail/
wholesale and online store) business:
• Start selling online
People are not just aware they can buy online,
but they are eager to start doing so. Provide
the environment. Be among the first companies that will start selling online successfully.
Explore what people want to buy online and
give them the opportunity to get it from you.
Engage the customer, build your customer
relationship and don’t give them any reason
to switch.
• Optimize your website
How will your customers know you have
what they need? Optimize your website to
be visible to the world’s most popular search
engines. This is the most relevant, most used
and absolutely free source of information to
potential customers.
12
Issue 2
eCommerce to both companies
and individual consumers in everyday life.
Author:
Biljana Donovska
Gecheva
Director of Card Operations
UNIBank Skopje
biljana.donovska@unibank.com.mk
UNI
Bank began offering eCommerce-related
services as an early mover in the
Macedonian marketplace one
year ago. At that time, the bank
undertook an intensive customer education and outreach campaign to explain the service and
eCommerce in general to its existing and potential clients. Their
goal was to position themselves
as market leading innovators
ready to meet the full spectrum
of client needs. The campaign
also aimed to raise local awareness as well as shape eCommerce perceptions by demonstrating the various benefits of
Issue 2
A statistical analysis of e-payment usage in Macedonia reveals that the country continues to lag well behind other European countries. One explanation may be the considerably
smaller market, though it is clear
that e-payment practices have
been in mainstream usage for
some time in other European
countries, while it is a new challenge for the Macedonian marketplace. As a new challenge, it
will take time before becoming
mainstream here. Nonetheless,
it is important to note significant and positive progress in the
last two years resulting primarily from recent banking services
market growth. This has meant
a proliferation of banking products, services and their usage, increased competition resulting in
higher service quality and innovation as well as greater security
and stability within banking institutions here.
Analysis
line transactions. UNIBank works
with companies to add the required technical solution to their
sites, many of which are already
90% complete, minimizing the
implementation period.
The perception of online transaction being unsafe is one of the
most problematic issues hindering widespread use of e-commerce both on the demand and
supply side. With this in mind,
UNIBank began offering the 3D
Security Model, an online program designed to make Internet payments more secure by
authenticating the card holder’s
identity during payment and
prior to the company confirming
the authorization request. This
model is intended to give shoppers the feeling they are in an
“ordinary” shop, guarantee payment to sellers and reduce costs
related to the most frequent
types of Internet disputes. It is
UNIBank’s hope that the combination of strong, cutting-edge
UNIBank currently maintains over
20 contracts with local compacompanies offering their products and
services for sale via the Internet.
UNIBank currently
maintains over 20
contracts with local companies offering their products and services for sale via the
Internet. A large and growing
number of companies are interested in being able to accept on-
technology and heightened
general awareness will result in
further growth in this area.
13
Analysis
Internet Usage and
Shopping Trends in
Central and Eastern Europe
Graphic 1: Do you personally use the Internet?
70,3
Estonia *
Slovenia
62,3
59,4 58,7
Austria
56,9
Lithuania *
55,5
Latvia *
Hungary
52,5
40,8
Czech Rep.
52,1
42,3
Poland
51,2
39,7
Slovakia
51,2
42,3
50,3
Macedonia *
Croatia
Serbia
30,8
Romania
27,3
Bosnia and Herzegovina
Vesna Kuzmanovic
Managing Director, GfK Skopje
Vodnjanska 50, 1000 Skopje
Tel: +389 2 3126 001
vesna.kuzmanovic@gfk.com.mk.
A
ccording to the findings of a GfK Group study
entitled Internet Access and Usage in CEE Countries1, growth of Internet usage in the Eastern
European region in the 2007-2008 period was an impressive 19%. It should be noted that the calculation
used to determine this figure varies between countries. However, in Internet user percentage terms,
Macedonia is slightly above average for the region;
50.3% of Macedonia’s population over 15 uses the Internet (the regional average is 47%).
28,9
Russia
Ukraine
11,5
2007
32,5
32,2
Baltic countries and Macedonia did not participate in the 2007 survey
Generally speaking, regional residents rarely shop online, though conclusive data on their habits is difficult
to obtain. In overall terms, Poland and Austria have the
highest percent figures of Internet users likely to shop
online at least once per month. In Macedonia, this figure remains very low when compared to trends in other
central and eastern European countries and despite the
above average Internet usage figures cited above. Today,
only 8% of Internet users in Macedonia buy products or
services via the Internet (the regional average is 12%).
Graphic 2: How often do you buy goods/services online?
Poland (51,2)
29,4
17,8
Austria (58,7)
23,6
Slovenia (67,5)
17,7
16,4
17,3
Estonia* (70,3)
Romania (32,5)
15,9
11,0
15,1
Latvia* (55,5)
13,2 13,2
10,6
4,5
Russia (28,7)
7,8
Croatia (47,5)
6,3
8,4
8,4
8,3
Macedonia* (50,3)
7,6
7,6
12,2
Lithuania* (56,9)
Slovakia (51,2)
Bosnia-Herzegovina (32,2)
27,0
18,4
12,4
Czech Rep. (52,1)
Hungary (52,5)
14
2008
33,1
28,7
24,0
20,6
Ukraine (20,6)
1 The study Internet Access and Usage in CEE Countries is
based on data gathered in September and November, 2008. The
study provides an overview of the current situation and of percentage trends in Internet user numbers, Internet penetration in
households, using various Internet access methods and various
Internet-based services in CEECs.
Data was collected via one-on-one interviews. State samples
have been designed and weighted so as to be representative of
the over 15 population.
47,5
39,4
36,5 35,0
Bulgaria
Author:
67,5
1,9
4,6
Bulgaria (33,1)
4,9 4,2
2008
Serbia & MN (35,0)
4,5 4,0
2007
Baltic countries and Macedonia did not participate in the 2007 survey
Base: Internet users
Issue 2
GfK SKOPJE was established in 2000 as STRATUM
Research and was the first
Macedonian company to
provide market research
services, as well as information on and analysis of products and services intended
for consumers. It became
part of the GfK Group in
2007.
GfK Skopje employees are
experienced experts in the
fields of psychology, sociology, economics, statistics and more. The office
maintains a network of
over 250 interviewers and
5 supervisors in Macedonia
and some 100 interviewers and 3 supervisors in
Kosovo. The company has
20 operational units available for telephone surveys
(the CATI center) in Skopje,
30 interviewers trained in
telephone surveys and a
state-of-the-art focus group
studio.
eCommerce Development and Implementation
in Macedonia’s Textile Industry
Analysis
Causes for this paradox may
be sought in the low number of payment cards issued
overall in the country. GfK
Group’s Financial Market
Data Services study shows
that only 53% of Macedonians have debit cards,
while 26% have credit cards.
A large portion of these
cards may not be used for
shopping online, as they
lack the issuing bank’s authorization required for this
purpose.
Another factor influencing
the limited usage of online
shopping is the small number of local companies offering their goods and services
for sale. Finally, one should
take into account the frequent consumer perception
that their card and personal
data are not safe online.
Source:
Applicability of e-business migration models to SMEs:
The case of textile SMEs in the Stip region, Mijalce Santa, 2006.
Adapted by:
Ivana Naumovska, AmCham Macedonia
The textile industry is an important part of the Macedonian economy with
33% of the country’s total exports and 30% of its employed workforce. The
industry centers around the town of Stip in central Macedonia where there
is the highest density of apparel and textile producers. The number of companies changes continuously but ranges between 50-60 companies and
more than 5,000 workers (about 45% of Stip’s total employed population).
In order to compete in this highly competitive and globalized industry,
Macedonian companies must adopt new technologies and communicate
efficiently with their partners and clients. This requires companies to innovate both in terms of their products and services and their internal processes. The implementation of online business-to-business transactions should
enable manufacturers to expand their market reach, enlarge their customer base, increase sales, optimize information flow and reduce sales transaction costs. Toward understanding where local textile companies stand with
respect to e-business practice adoption Mijalce Santa, an assistant at Ss.
Cyril & Methodius Faculty of Economics wrote, distributed and analyzed an
extensive questionnaire (selected results follow).
eCommerce Adoption in Numbers
· 50% of textile companies in Macedonia have a company web site;
· 5% are selling their products/services online;
· More than 85% of textile companies have Internet access;
· 67% of companies buy goods/services online;
· 0 companies reported that they make >10% of total purchases online;
· 25% of companies support their marketing or sales processes with IT
solutions;
· 19% of companies are using online applications other than e-mail to
collaborate with business partners in the design of new products and
to forecast product demand; and
· 76% use online applications other than e-mail to manage capacity or
inventories.
These figure indicate an industry that is not following industry trends. Many
local companies responded that their company was too small to benefit
from eCommerce, but also that they lacked appropriate knowledge, and
that the necessary technologies were too expensive.
Santa’s study points out that in a period of great change in the textile industry (e.g., elimination of import quotas), companies’ ability to integrate
into their clients’ supply chains is crucial to their responsiveness, flexibility
and ability to deliver quality products at a profit. He warns, however, that
local companies must first reform their processes to ensure efficiency and
effectiveness before introducing new technologies that could only amplify
existing problems.
Issue 2
15
Travel
The Galičnik Wedding Festival
– Much More than a Wedding
N
estled on a cliffside in Mavrovo National Park is the village of
Galičnik, built by members of the Mijak tribe. Many Macedonians
and an increasing number of foreign visitors know the village’s
story: for hundreds of years the travelling traders of Galičnik returned each
July to marry their sweethearts. Up to 40 weddings were known to take
place on St Peter’s Day (Petrovden), involving a massive guest list and
party. Galicnik’s residents have dwindled since those giddy days (in fact almost no one lives in the village year round anymore), so since 1999, couples from all over Macedonia have applied to celebrate their wedding as
part of the mid-July Galička svadba (wedding) event. Thousands of visitors
flock every year to see the rituals, costumes, folk dances, traditional music,
and of course the Orthodox Christian ceremony itself.
Author:
Thammy Evans
author of Macedonia:
The Bradt Travel Guide
bradtmacedonia@yahoo.co.uk
Photos by Samir Ljuma
Like most weddings, preparations for the Galicnik
wedding start well in advance. One of the first tasks
is food preparation: people from surrounding villages gather for a sheep milking competition. One
of the few of its kind in the Balkans, it is spectacular to see the milkmen and maids at work. The milk
is then used in a variety of local culinary specialities, including various cheeses, kajmak (sour clotted cream), and sutlijaš (sweet milk pudding).
With the gathering in the past of such a posse of
men, “stag night“ in Galicnik was and continues
to be a day of competitive pelivan wrestling. In
each round, two men smothered in sunflower oil
and wearing only leather britches compete to tussle the other to the ground. The winner is he who
beats all others in his weight class by keeping his opponent’s back pinned
to the floor for a count of three. Traditionally viewed by men only, the
spectacle draws more and more women spectators each year.
On the Saturday morning before the wedding ceremony, the groom
adorns the wedding hall with flowers and garlands. He then fires three
16
Issue 2
Valley. This hike offers the chance to
see some of the rare wildlife on the
protected land of Mavrovo National
Park. The Balkan lynx, a species numbering less than 40 in Macedonia, are
under an observation and preservation programme. Brown bear (around
200) are also a national protected species belonging to the park. Whilest
you are unlikely to see a brown bear
on the hike up to Galičnik, much rarer
vultures and eagles can often be seen
soaring the skies.
Sunday, the wedding day itself starts
with the stormy arrival of the wedding
party on galloping horseback to visit
the bride. Reduced often to a slow trot through throngs
of onlookers, the couple’s godfather (kum) delivers a
young boy to the bride's party as a good luck charm to
bring the couple a son. A bridle is then placed symbolically on the bride’s head as a gesture of her devotion,
faithfulness and obedience to her husband. Whilst the
requirement for a son and unconditional love is no longer paramount, the tradition lingers on. The kum then
delivers a finely adorned banner to the bride’s house
while she serves the guests local wine and rakija, a local brandy.
Galičnik belongs to a cluster of culturally unique and isolated Mijak villages in Mavrovo National Park. Other
villages include Gari, Tresonče and Lazaropole. The Mijak tribe are renowned wood carvers; Gari was home
to the most famous iconostasis woodcarvers the Filipovski brothers, who carved works on display in nearby
Sveti Jovan Bigorski, Sveti Spas in Skopje, Sveti Gavril
Lesnovski near Kratovo, and of Sveti Nikola in Kruševo
(razed in the 1903 Ilinden Uprising). Tresonče village is
the gateway to Biljani Slap Waterfalls and Alilica Cave,
while Lazaropole, formerly a hunting village with a
small ski lift, is now promoting its clean air, village tourism and a beautifully refurbished Kalin Hotel.
Afterwards at the village spring, mirroring the groom’s
ritual the day before, the bride fills jugs with water for
her last time as an unwed maid. Another dance ensues at the village square, where the men dance the
teškoto, a virile representation of the hardships of migrant workers.
If you are visiting these Mijak villages,
don’t miss the 600-year-old “Deer
Leap“ bridge, less than 2km from turnoff for Gari, Tresonče and Lazaropole
from the main Debar road. Legend has
it that the bridge was built by the local bey (Ottoman lord) during the 14th
century to commemorate the gallant
death of a deer which he and his army
had been hunting. Badly wounded, the
deer continued to elude the bey and
his army, until it reached the Garska
River. The deer leapt over the river but
died on the other side. To commemorate the deer’s bravery, the bey ordered a bridge to be built in the likeness of the deer’s last leap.
Finally, clad in her finest, a Galičnik folk dress of silk and
gold braid weighing almost 40kg, the bride is escorted
in the afternoon to the central church of St Peter and
Paul where, among the honoured few who can fit in the
church, the wedding ceremony itself takes place.
Galičnik is accessible by road only from the village of
Mavrovo (15km) over the Bistra plateau, or by foot from
Janče. The hike from Janče takes almost two hours and
gives spectacular views of Mount Korab and the Radika
Issue 2
17
Travel
shots to warn off any usurpers and
to signal to the guests to make their
way to the village. As guests arrive,
the mother of the bride welcomes
them with bread and water and hosts
a dance in traditional dress with the
couple’s closest relatives. Today, professional dancers are brought in for
a colourful show of costumes and
synchronisation. With the pressure
mounting, the groom is shaved publically at the village spring as a sign of
the end of his bachelor days.
Legal and Regulatory Review
The Law on
Financial Collateral
•
•
•
•
•
•
•
Author:
Ana Hadzieva
Associate
Polenak Law Firm
Orce Nikolov 98, 1000 Skopje
tel: + 389 2 311 4737
ahadzieva@polenak.com
www.polenak.com
M
acedonia’s Law on Financial Collateral
which came into force on January 1st
of this year, regulates the use of financial collateral agreements for securing receivables. It was passed to be align Macedonia’s law
with EU regulations. More specifically, the basis
for this law was the EU Directive on Electronic
Commerce (2002/47/EC) dated 6 June 2002.
It limits such usage to the following entities:
• State authorities;
• the National Bank of the Republic of Macedonia, the European Central Bank, the Bank for
International Settlements, the International
Monetary Fund, the European Investment
Bank, the central banks of EU member states,
international development banks;
18
domestic banks;
leasing companies;
brokerage houses;
insurance companies;
investment and pension fund companies;
clearinghouses and securities depositaries;
the national Health insurance fund, Pension
insurance fund and the Deposit Security Fund.
Further, these entities must meet the Law on
Trade Companies definition of a “large enterprise” when executing such agreements which
must be in writing and notarized.
The Law considers two types of financial collateral agreements: those with ownership transfer and those with pledge rights. The former are
agreements that include repurchase (or repossession) clauses, where ownership of the financial collateral (e.g., a financial instrument or
cash) is transferred entirely from one party – the
“collateral provider” – to the other – the “collateral taker” – for the duration of the collateral’s
validity. These agreements must be reported
to the Central Securities Depository. In contrast, for financial collateral agreements with
pledge rights, ownership of the financial collateral remains in the collateral provider’s possession throughout its validity, while the collateral
taker registers a pledge right to it in the country’s Pledge Registry. In the event of default or
other non-fulfilment of the agreement, the collateral taker takes real ownership of the collateral or close out netting occurs.
Finally, financial collateral agreements involving
cash must be registered in the collateral provider’s financial institution, though the associated
procedures in domestic banks have yet to be
developed.
Issue 2
Issue 2
19
Macedonia’s New Law on
Industrial Property Wider Protection,
Stronger Enforcement
unchanged. Nationals have the right to represent
themselves in SOIP procedures, while foreign entities
must appoint a representative. Also, an authorization
is no longer required for payment of patent maintenance fees.
Author:
Zivka Kostovska
– SD PETOSEVIC
29 Noemvri 17-2/3m, 1000 Skopje
tel: +389 23 245 955
zkostovska@petosevic.com
www.petosevic.com
Most changes brought by the LIP apply to patents.
Inventors now have the option to request grants of
nationally or internationally-recognized patents in
accordance with the Patent Cooperation Treaty or
the European Patent Convention, respectively. The
LIP retains so-called “short term patents”, which are
granted for 10 year terms. If evidence on novelty of
the invention is submitted during a substantive examination, patent protection may be granted for 20
years. An additional 5
years of protection may
Inventors now have the
be granted by issuance
of a Supplementary ProPro
option to request grants of
tection
Certificate
in
cascas
nationally or internationallyes of medical products or
recognized patents....
plant protection products
and their manufacturing.
T
he new Macedonian Law on Industrial Property (LIP) entered into force on February 25,
2009 (OJ 21/2009). Changes introduced in the
area of Intellectual Property Rights (IPR) primarily reflect Macedonia’s admission to the European Patent
Organization, but also fully harmonize the country’s
legislation with the Trade Related Aspects of Intellectual Property Rights (TRIPS) agreement and the EU’s
Acqui Communitaire. The new law regulates acquisition, protection and enforcement of IPRs, including
patents, trademarks, industrial designs and geographical indications.
In large part, company relations with the Macedonian State Office for Industrial Property (SOIP) remain
20
In line with the TRIPS Agreement, the LIP introduces
Compulsory Licensing in cases concerning the protection of public health and safety, as well as in cases
concerning the protection of market competition. It
also grants the Macedonian Customs Administration
the authority to seize imported goods, if such goods
are subject to a Compulsory License in Macedonia.
With respect to trademarks, an important LIP change
is that any interested party may now present evidence to the SOIP to refuse a published trademark
application based on absolute grounds. This new access does not change the right to the formal opposition procedure based on relative grounds.
Issue 2
While restitutio in integrum
was recognized on the basis of General Administrative Procedure, the LIP now
prescribes and details restitution provisions, which
should fill previous legislative vacuums in the use of
this remedy.
The LIP also expands the
authority and role of the
Macedonian State Market
Inspectorate concerning IPR
protection. It allows for both
general market surveillance
and ex-officio procedures,
including the destruction of
seized goods and a misdemeanor procedure.
With respect to damages
and remuneration in civil
court procedures, plaintiffs
now have the opportunity
to request the destruction
of infringing goods, as well
as to obtain all available
information regarding the
infringement (e.g., distribution channels, origin of the
goods). The LIP also lays
down elaborate provisions
for interim injunctions and
procedures for preserving
the evidence.
The adoption of the new LIP
is meant to establish stronger IPR enforcement, in addition to basic prosecution
of infringers. This should
contribute toward creating an attractive business
investment climate that is
both competitive and sustainable, which are among
Macedonia’s primary goals
today.
Launch of Comprehensive
Macedonian Legal Database
Author:
Boris Lazov
Akademika Manager
Akademik Publishing Ltd.
Tel: ++38923 246813
LazovB@akademik.com.mk
U
ntil recently, there
was no up-to-date,
centralized,
comprehensive and electronic
source of Macedonian law.
Given the country’s particularly dynamic legislative environment, this was especially problematic for legal professionals, but also to the
broader business and NGO
community working in the
country. The legal publisher Akademik’s recent introduction of “Akademika” is
meant to change all of that.
Www.akademika.com.mk offers subscribers on-demand
information in both English
and Macedonian. This includes all laws and their corresponding subordinate acts,
amendments, and all Constitutional Court decisions
which affect the law’s provisions. Another value add of
the database is the notation
of instances where a law or
its amendment is ambiguous or contradicts another
legal provision.
Akademika is the result of
thousands of man hours of
research that involved a team
of 30 professionals, including
lawyers, philologists, IT professionals and designers. Experienced lawyers will serve
as the site’s support center,
updating laws on a daily basis and providing online sup-
Issue 2
port during regular working hours. More
than 80 consolidated law texts are available
in English, a number that will increase over
the next several months.
As with any database, Akademika’s search
engine is key to its utility. Search options
include the full or partial title of the regulation, the number of the “Official Gazette”
edition where the regulation was published,
the year of publication, the type of act (e.g.,
a law, by-law or decision of the Constitutional Court), as well as an additional feature for
searching the texts of by-laws and decisions
of the Constitutional Court. Given that all
material is available in HTML format, search
results display all acts containing the search
words and include a short excerpt for easy
identification and one-click access to the full
text.
Akademika also allows users to sort the entire Macedonian legislative system in the
following ways:
· EU – all Macedonian laws grouped according to EU regulatory classifications;
· Bar exam – laws organized according
to the Macedonian bar exam study
program; and
· Akademika – icons are added to
search results to depict each law’s
field of regulation.
This new tool should help set a new standard for legal research in Macedonia. Researchers can now be sure they are working with the most updated “version” of the
law, have one-click access to all by-laws,
and can now thoroughly and quickly search
thousands of very complex documents in
just seconds.
21
LIP protection of industrial
designs and geographical names (the designation
of origin and geographical
indications) remains unchanged, by in large.
Past Events
B2B Event with
AmCham Kosovo
Feb 19
W
ith a commute of less than 2 hours
between them, Pristina and Skopje
are next-door neighbors, though
they cannot yet be considered part of one fluid
marketplace. Toward encouraging familiarity
and idea generation between the two business
communities, the AmChams in both Macedonia
and Kosovo hosted a B2B Summit on February
19th in Hotel Arka in Skopje. Grant Thornton
– with offices in both Macedonia and Kosovo –
was the premier event sponsor. The event was
also made possible by AmCham’s 2009 Patrons:
T, Alkaloid, Pivara Skopje, Microsoft and
Skopski Pazar.
mental institutions, it is less impacted by the
current economic environment and continues
to invest mainly in private enterprises (new ventures and investments in existing companies),
usually together with commercial partners. The
Bank’s investments in 2009 will increase to €7 billion, including crisis response packages aimed
at stimulating businesses affected by the crisis.
The event targeted representatives from several
industries and featured presentations from the
European Bank for Reconstruction and Development (EBRD) in each country. The EBRD is
the largest single investor in the Central European-Central Asian region. Given that the Bank
is owned by 61 countries and two intergovernElena Urumovska, Head of EBRD Skopje Resident Office, explained that 2009 was expected
to be a slow growth year in Macedonia (~3%),
given the global economic downturn’s dramatic
effects on the metallurgical industry, citizen saving rate and credit growth. She said Macedonia’s
widening current account deficit could lead to
“significant tightening” of the country’s fiscal
policy in order to preserve macro-economic stability, but that the bank did not expect a change
to the Macedonian Denar’s de-facto peg to the
Euro.
22
Issue 2
Office, familiarized
attendees with the
Banks’ Local Enterprise Facility, including their streamlined
loan and equity investment approval
processes. He said that the Bank had recently invested in the Macedonian food processor, Vitalia
Nikola, and the Tikves winery.
ent in the region, in addition to a need for additional FDI in these sectors.
About AmCham Kosovo
AmCham Kosovo was established in 2004 and
represents more than 70 Kosovar medium and
large businesses, which jointly employ over
10,000 Kosovar employees with more than a 100
million Euro annual turnover. Their members include companies from a variety of sectors, including: banking, insurance, metals processing,
construction, energy, IT,
consulting, education, official distributors of brand
named products, and
food & beverages processing. The organization
also offers business startup assistance to companies wishing to initiate
operations in Kosovo. For
more information, visit
www.amchamksv.org or
call +381 38 246 012.
Due to their cross-border engagement potential, attendees were concentrated in the following groups: industrial suppliers & construction;
food, beverages & consumer goods; and IT. Interestingly, the investment promotion agencies in
both countries name these industries as opportunity areas. Attendees at this event believe there
is still plenty of room for further development of
cooperation between businesses already presThis event also made possible by AmCham Macedonia’s 2009 Patrons
Issue 2
23
Past Events
Ms. Urumovska also highlighted the Bank’s
search for small renewable energy generation
and industrial energy efficiency projects. Finally, Fabio Serri, Head of EBRD Pristina Resident
Past Events
Pension Supervision Agency
Leadership Meets with
AmCham Members
March 17
M
insurance
n
io
s
n
e
p
voluntar y
acedonia:
,
M
e
t
a
n
iv
i
r
p
Two
t l y e x i s t O tvoren penzisk i
n
e
r
r
u
c
funds
FOND –
ka DD,
n
I
a
K
B
IS
a
Z
k
s
N
E
n
“NOV P ders: Nova Ljublja
nsk aBank a
u
t
u
n
T
u
o
f
B
(
L
”
N
fond
enia and ) a n d “ K B Fir s t
v
lo
S
,
a
n
a
Ljublj
a ce d o n ia ” (founders: Pr va
M
,
je
p
o
k
Skopje
A D, S
–
d
n
nia and
e
u
F
v
lo
n
S
,
io
s
a
n
n
e
a
Open P
a DD, Ljublj je, Macedonia).
b
z
u
r
D
a
k
s
Pokojnin a Banka AD, Skop
Komercijaln
acedonia has been
actively reforming its
pension system for several years, creating a 3-pillared
system that allows for both mandatory State coverage and private
voluntary pension funds. The most
recent change in this area was the
new Law on Voluntary Fully Funded
Pension Insurance (passed January 2008) and subsequent launch
of two voluntary pension insurance funds: NOV
PENZISKI FOND – Otvoren penziski fond (founders: Nova Ljubljanska Banka DD, Ljubljana, Slovenia and NLB Tutunska Banka AD, Skopje,
Macedonia) and KB First Open Pension Fund –
Skopje (founders: Prva Pokojninska Druzba DD,
Ljubljana, Slovenia and Komercijalna Banka AD,
Skopje, Macedonia).
On March 17th,
roughly 20 AmCham Macedonia members joined Mr. Bulent Dervisi, Director of the
Agency for Supervision of Fully-Funded Pension
Insurance (MAPAS) and two members of his staff
to discuss the 3rd pillar and its effect on the business community. The MAPAS team described
the Government rationale for creating the 3rd pillar, its particular structure and target groups, the
licensing process and advantages to employers
wishing to further incentivize staff by contributing to
a 3rd pillar fund.
Questions from attendees centered on the timing of legislative changes
of requirements for mandatory pension fund custodians (the so-called 2nd pillar). Currently, the National
Bank serves in the role of
custodian for mandatory
pension funds, however
legislative changes that are
currently in the Parliamen-
24
Issue 2
they are willing to work quite closely with companies interested in entering this market. She
said company applications would not be handled like traditional bids on government tenders, rather MAPAS would assist companies with
their applications, if necessary.
An audience member also highlighted the importance of MAPAS’
role in controlling private pension fund companies, especially in
this early stage as citizens become
accustomed to the new concept of
taking responsibility for their own
pensions. The MAPAS team said
this was an important motivation in
controlling fees, given that consumers are not yet aware of their realistic or reasonable level.
Additionally, it was explained that for the 3rd pillar voluntary pension funds, custodians may be
commercial banks from the outset.
A member of the audience also expressed concern that MAPAS’ cap on fund management fees
(maximum of 7% of contribution) may prevent
fund companies from turning a profit – especially given the current economic climate – and
that the current ~€1,000 cap on annual contributions per person was too low. The MAPAS
team explained that these levels reflect a balance between educating and gauging local
market demand and government budgetary constraints. The team underscored the point that the Ministry of
Finance set all tax policy, thus it was
not something that that they control. Ms. Biljana Petroska, Head of
Research at MAPAS, said that Romania started with a cap of just €200,
but doubled that limit a short time
later in response to demand.
Finally, Ms. Petroska responded to
a question regarding the current
debate in Croatia centering on ~300 early retirees that were left with a lower pension from
the country’s two-pillar system compared to a
mono-pillar pension due to their private funds’
performance during the current economic crisis. She said that the Macedonian program
allows only young participants to help balance
out such market fluctuations over the long term.
She assured the group that the Macedonian
Government has been developing this program
for many years and would not consider reversing its course due to a few such cases.
Ms. Elena Tanaskovska, Head of
Control at MAPAS explained that
Issue 2
25
Past Events
tarian process will enable commercial banks
to also assume this role. The MAPAS team said
they could not predict the precise timing of
these changes, though the amendments were
in their second reading before parliament and
were expected to be approved in the near term.
Member List
AmCham Macedonia Member List
Construction, Real Estate,
Interior Design
BAUART Group
Bujoto Engineering Ltd Skopje
Civil Engineering Institute Macedonia
AD Skopje
GD Granit – AD Skopje
Pelagonija Engineering Skopje
Consumer Goods & Textiles
Alliance One Macedonia
Avon Cosmetics Macedonia
EuroTrade doo
Gemak Trade
Geoprom-Miroslav Ltd
Ist Komerc Ltd
Mak Autostar Ltd
Mepring Engineering Skopje
Philip Morris Skopje dooel
Skopski Pazar AD Skopje
Teteks AD Tetovo
Tinex-MT
Tutunski Kombinat AD Prilep
Stopanska Banka AD Skopje
Unija Finansiska Skopje
Food & Beverages
IMB Mlekara Bitola
M&A Beverages Skopje
Medium Export
PI Vitaminka AD Prilep
Pivara Skopje AD
SJ Company McDonald’s Skopje
The Coca Cola Company Makedonija
Tikves Skopje AD
VIVAKS Ltd
Hospitality, Travel & Event
Centers
Makedonijaturist AD
Skopje Jazz Festival
SKOPSKI SAEM DOO Skopje
Travel Agency Orfej
Travel Club
Individuals
Transport & Logistics
DHL Express Macedonia Ltd Skopje
FedEx GSP-RSE Optima
Fersped AD Skopje
Education & Training
NOVA International Schools
South East European University
(SEEU)
State University of Tetova
University American College Skopje
Financial Institutions
Euroleasing
Eurolink Insurance Inc Skopje
European Bank for Reconstruction
and Development (EBRD)
Eurostandard Banka AD Skopje
Export & Credit Bank Inc Skopje
Fisher Funds
FULM Savings House
Komercijalna Banka AD Skopje
Makedonska berza AD Skopje
NLB Tutunska Banka AD Skopje
ProCredit Bank Macedonia
SEAF Macedonia
Stedilnica Mladinec
26
Ms. Marija Fidanovska
Mr. Zoran Kostovski
Mr. Valerijan V. Monevski
Mr. Vladko Pashoski
Ms. Bosilka Rizovska
Industrial Suppliers,
Energy & ManufacturingAmac
SP, JSC, Ohrid
EVN Macedonia AD, Skopje
Makpetrol AD Skopje
Makstil Duferco Group
Okta Crude Oil Refinery Shareholding
Company Skopje
Petro M
Protect-M
Sharr Beteiligungs GmbH
Sinpeks Bitola
VESNA SAP
Information Technology
Duna Computers
Ein-Sof
Euro Computer Systems AD (ECS)
Hewlett Packard IT BV Branch Office
Skopje
Microsoft Macedonia
Neocom AD
ORACLE East Central Europe
Representative Office Skopje
Pexim
S&T Macedonia dooel
Seavus dooel Skopje
SEMOS Group Skopje
TechnoLogica
USA MAK Computers
Z-SoftNet LLC
Law, Tax & Consultancy
AIMS Human Capital Macedonia
Analysis and Advisory Group (AAG)
BETA Consulting Ltd
Deloitte Ltd Skopje
Ernst & Young
Executive Search Consulting Ltd
Grant Thornton
Law Office Panova
KPMG Macedonia Ltd
Market Com Consultancy Macedonia
PointPro Consulting
Polenak Law Firm
PricewaterhouseCoopers dooel
Skopje
Pharmaceutical & Medical
Alkaloid AD Skopje
MSD IDEA Inc Affiliate Merck &
Company Inc
PharmaSwiss
Public Services
Avto Moto Sojuz na Makedonija
(AMSM)
Vodovod i Kanalizacija JP
Zdruzenie na vozaci na grad Skopje
Publishing & Advertising
Kapital Media Group
McCann Erickson Group Skopje
Telecommunications &
Related
Dasto
Intracom Ltd Skopje
Makedonski Telekom AD-Skopje
Netra Ltd Skopje
On.net Ltd
Pikon Opus Investors
T-Mobile Macedonia
Issue 2
The AmCham Advantage Program offers valuable discounts to members in good standing
at AmCham member establishments. For complete information about the program and
updated information about available discounts and restrictions, please log onto the AmCham
Macedonia website at: www.amcham.com.mk (under Membership>Advantage Program).
10% off legal services
and advice
group
SEMOS 20% on software applicationas
SEMOS Education Center 20% on end user
and children courses
SEMOS Multimedia up to 20% of all services
Clear View from 10% to 20% according type
of services
For many years back, Semos Group is successfully
promoting the products of the ultimate information technology on the Macedonian market. Essential activities of Semos Group are designing, executing and implementing of complex and integral
information solutions, maintenance, IT consulting,
technical support and education, multimedia solution as well as the sale of informational systems.
Offers are based on the world famous technologies and manufacturers as: Microsoft, Autodesk,
HP.., with whom the company has established a
long term partnerships.
The Panova Law Office
and
Patent
Bureau
provides
professional
legal services and advice
to both domestic and
foreign legal entities. They are specialists in
Macedonian Company Law, Foreign Investments,
Securities Regulation Law, Commercial and
Business Litigation, Corporate Law and Corporate
Governance, Banking Law, Intellectual Property
Law, Insurance Law, Bankruptcy Law, Enforcement
Law, Labor and Civil Lawand Real Estate Law.
..........
Contact: Biljana Panova Videski
Phone: (+389 2) 3091 836; 3091 837
Website: www.panova.com.mk
Email: panova@panova.com.mk
..........
Contact: Irena Bojadzieva
Tel. + 389 2 2465 900
Web:www.semos.com.mk
e-mail:irenab@semos.com.mk
5% off SATO ordersabove
5.000 Euros
BAUART Trade is an official representative of SATO
Office Systems for Macedonia and Kosovo.
SATO, a Greek company, has produced office
furniture and office wall systems for over 40 years.
..........
Contact: Emilija Mucevska
Phone (+389 2) 3227 540
Website: www.bauart.com.mk
Email: sato@bauart.com.mk
Issue 2
10% off SkillSoft online training bundles
Skill Soft online training is a powerful tool
with comprehensive e-learning content and
technology that enhance the effectiveness of
formal and informal learning - One of the best
ways to save time and budget while investing
in human resources.
Skill Soft offers more than 6,000 online courses
and 24x7 online Mentoring. Course content
is available in the following categories: Business Skills, IT skills and Desktop Skills.
..........
Contact: Evzal Rakipi
Phone: (+389 44) 356 252
Website: http://bdc.seeu.edu.mk
Email: seeu-bdc@seeu.edu.mk
e.rakipi@seeu.edu.mk
27
20% off HR Human Touch Program Services
30% off for annual services contract
5% off on International priority service to all
AmCham members
The broad range of services under the HR Human
Touch program includes:
- Organizational re-structuring (re-engineering)
- Job analysis (job descriptions and specifications)
- Job evaluation (classification)
- Base salaries’ system
- Rewards and motivation system
- Performance management system
- Employee surveys (satisfaction, motivation, benefits,
rewards)
- Staff recruiting and selection
- Career development planning
- Personal development planning
- Training and one-to-one coaching
(42 trainingtopics)
Since 1992, Fedex Macedonia has offices throughout Macedonia, including Skopje, OhridStruga, Kumanovo, Bitola, Prilep, Strumica, Stip,
Radovis, Kavardarci, and Tetovo. Fedex Macedonia
will do “whatever it takes“ to fulfill its clients’needs
and expectations!
..........
Phone: (+389 2) 3111 116
Website: www.fedex.com/mk
Email:macedonia@fedex.com.mk
..........
Contact: Biljana Acevska
Phone: (+389 2) 3109 802
Website: www.marketcomconsultancy.com
Email: contact@marketcomconsultancy.com
20% off all telephony and internet services for
new AmCham member customers
Any additional discounts will be set according
to the number of interested AmCham members
and the volume of services needed. In just a few
years, On.net is one of the leading companies in
the Macedonian internet services market. They
provide a wide range of products and services
for residential and business customers, including:
Internet access by terrestrial connection (ADSL,
ISDN, Leased line); wireless internet via a high
speed and stable connection throughout the
entire country; VPN, VoIP, web hosting and SMS
applications; and fixed telephony. The company is
a member of the Telecom Slovenia Group.
5% off MBA Course Tuition
UACS enables experienced professionals to work
toward a master’s degree on a schedule that
minimizes disruption to their work and personal
pursuits. Classes are held Thursday and Friday
afternoons and Saturday mornings. Additional
discounts available for corporate, family and
advanced payment.
..........
Contact: Venera Krliu
Phone: (+389 2) 2463 156
Website: www.uacs.edu.mk
Email:vicepresident@uacs.edu.mk
Free Unique Loyalty Cards
..........
Skopski Pazar offers AmCham members free
loyalty cards allowing them to earn points with
every purchase from thebeauty salon. Points can
be redeemed for vouchers for free merchandise.
Contact: Vlatko Serafimovski
Phone: (+389 2) 5111 000
Website: www.biz.on.net.mk
Email: serafimovski@on.net.mk
Contact: Zvonko Stojcev
Phone: (+389 2) 2404 116
Website: www.skopskipazar.com.mk
E-mail:zvonko.stojcev@skp.com.mk
28
..........
Issue 2
Duna Computers is one of the biggest IT companies
in Macedonia, serving domestic, regional and
international clients for 14 years. They are a general
importer for brands such as OKI, NASHUATEC,
PSION, BRAHLER, APPLE. Our motto is Only the
best is good enough for ourclients.”
..........
Contact: Darko Jovanovski
Phone: (+389 2) 3129 462
Website: www.dunacomp.com.mk
Email: darko.jovanovski@dunacomputers.com.mk
10% off for consulting services
Beta Consulting offers a wide spectrum of services in
the areas of finance, legal, accounting and consulting
to foreign and domestic investors. They are your onestopshop for doing business in Macedonia.
..........
Contact: Elizabeta Kocovska Iceva
Phone: (+389 2) 3118 825
Website: www.betaconsulting.com.mk
Email:elizabeta@betaconsulting.com.mk
15% off annual subscription prices
15% off advertising rates
Kapital Business Weekly is an essential information source for the Macedonian business
community enabling successful decision
making and achieving outstanding results.
With a circulation of 5.000 and more than
3.000 subscribers, the magazine reaches
nearly 15.000 readers every week of the year.
..........
Contact: Gordana Mihajlovska
Phone: (+389 2) 2551 441
Website: www.kapital.com.mk
Email: mihajlovska@kapital.com.mk
Issue 2
5% off all hotel reservations, ALITALIA and
BULGARIA AIR tickets and conference, event
and congress organization
As a leader in business and personal travel,
ticketing and organizing events, conferences and
congresses, Travel Agency Orfej is a member of the
IATA and several other international associations.
..........
Contact: Robertino Trajkovski
Phone: (+389 2) 3118 602
Website: www.orfej.com.mk
Email: aranzmani@orfej.com.mk
10% off accommodation at Aleksandar Palace
10% off Aleksandar Palace conference hallrentals
Aleksandar Palace has 135 air-conditioned rooms,
including 22 suites, fully equipped with mini bar,
directphone line, satellite and cable TV, highspeed
wireless and DSL Internet connection.
..........
Contact: Goran Taskov
Phone: (+389 2) 3092 392
Website: www.aleksandarpalace.com.mk
Email: info@aleksandarpalace.com.mk
10% off for purchase of any of the company’s
products or usage ofany offered services
Seavus provides IT services and solutions as well as
intuitive software applications for growth of your
business. Our strategy is to turn technology into
business value. Our most valuable assets are our
people, a highly skilled international team of over
300 professionals that have a vast international IT
experience acquired while working for renowned
international customers.
..........
Contact: Viktor Sotirovski
Phone: (+389 2) 3097 400
Website: www.seasvus.com
Email:viktor.sotirovski@seavus.com
29
10% off Duna conference system equipment
rental
Grant Thornton
10% off services contract
Grant Thornton Macedonia is
headquartered in Skopje and
also has a Pristina office. Its 3
partners and 42 professionals
provide assurance and business
advisory services, business consulting, corporate finance and
tax and legal services toboth
Government and industry in
Macedonia.
They can skilfully devise and
implement strategies for transforming client businesses. They
partner with clients to implement solutions that drive real
bottom- line value.
..........
Contact: Slavco Filipcev
Phone: (+389 2) 3214 700
Website:
www.grant-thornton.com.mk
Email:
slavco.f@grant-thornton.com.mk
AmCham Macedonia
20% off company services
AAG offers:
1. Company financial
analysis
2. Advice in transactions
3. Target identification and
analysis
4. Business plan
preparation
5. Valuation Services
6. Tailored analyses and
consulting services
for specific needs.
..........
Contact:
Verica Hadzi Vasileva Markovska
Phone: (+389 2) 3120 565
Website: www.aag.com.mk
Email: aag@aag.com.mk
AmCham
Board of Directors
President
Ilijanco Gagovski
Country Manager
Microsoft Macedonia
First-Vice President
Marjan Bojadziev
Provost
University American College
Skopje
Second-Vice President
Stefan Plavjanski
Territory Sales Manager for
Macedonia and Kosovo
Hewllet-Packard IT BV Branch
Office Skopje
Secretary - Treasurer
Ruzica Filipceva
Managing Partner
Grant Thornton
5% off all services
Deloitte Touche Tohmatsu is an organization of member firms
around the world devoted to excellence in providing professional services and advice, focused on client service through a
global strategy executed locally in over 140 countries.
With access to the intellectual capital of approximately 150.000
people worldwide and over 2,000 regionally, Deloitte in
Macedonia delivers services in four professional areas: audit,
tax & legal, enterprise risk services, consulting and financial
advisory.
..........
Contact: Lidija Nanus
Phone: (+389 2) 3111 300
Website: www.deloitte.com/macedonia
Email: lnanus@deloittece.com
PROPOINT
print house
info@propoint.com.mk • www.propoint.com.mk
30
Bozidar Jankovski
Executive Director
Jovan Madjovski
Country Manager of the CEED
Program
SEAF Macedonia
Klaus Mueller
Chief Director of Key Issues
Makedonski Telekom AD
AmCham
Executive office
Executive Director
Michelle Osmanli
Membership Officer
Ivana Naumovska
Finance Officer
Zoran Ilievski
Issue 2
Issue 2
31

A nalysis - AmCham Macedonia

Transcription

Similar documents

why macedonia? - Kamer van Koophandel

histgory for the web - Macedonia Baptist Church

xmkd catride offer

Од печатот

people with spare homeland

Day 1: Welcome to Macedonia! Upon arrival at Skopje airport

mice in macedonia - Exploring Macedonia

Please use one form per client, send the filled booking form back to

lE55HZ口IE

Ohrid, Macedonia 19th-22th October 2016 Macedonian Ecological