It has to legislate to protect property rights and especially intellectual property rights. It has to modernize its law enforcement systems with emphasis on the courts. Courts have to act more resolutely and more speedily to enforce property rights. The reform commenced in adopting Western accounting standards has to continue vigorously. Full, accurate and timely information is a precondition to any foreign investment.
Financial statements are tax driven, false and hide more than they tell.
But those are problems common to economies in transition and, judging by my personal experience, they are fast improving. Unless Macedonia does a major mistake - it is destined to become a prosperous, entrepreneurial country. That may well be the biggest problem of Macedonia as a country and of Macedonians as a nation. Centuries of repression and lack of hope tended to have shaped your mood in the pessimistic mould. Ever since Macedonia was born, it faced great difficulties, both economic and political.