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Development of tourism requires managing strategic approaches. Part of achieving this is to determine the factors that affect tourists on creating their images and perceptions. The study is focused on identifying some of the factors, while tourists experiencing Ohrid, the most famous tourist destination in Macedonia. The analysis is based on face-to-face survey conducted among 500 tourists in June-August 2016. Generally, the findings indicate many suggestions and recommendations for tourism-policy makers, which may serve as a valuable starting point in creating new strategic planning approaches that may support managing tourism development in Ohrid and Macedonia.

Anthropocentrism and eco-centrism are the two complementary philosophies that are trying to offer an answer to the question “How can people continue their civilization on Earth without destroying both – the nature and themselves”? The crucial motivation for the study was to emphasize the necessity for a joint sustainability of nature-made and man-made systems, as five largest-in-population religions, Buddhism, Hinduism, Judaism, Christianity and Islam, teach. Through comparative discussions, the study argues that sustainable development is a very plausible paradigm for obtaining a balance between both systems, maintainable over time and space. Basically, the concept of sustainable development itself is founded on three main criteria – knowledge, morality and timeliness which enable it to be a negative entropy mechanism securing planet Earth’s survival. The objective of this Paper is to demonstrate that anthropocentrism and eco-centrism exhibit a certain degree of rigidity, one sidedness and (to an extent) inconsistency and to offer a possible alternative for survival and progress - the paradigm of sustainable development based on the unifying concept of the main religions. Keywords: Anthropocentrism; Eco-centrism; Religion; Negative Entropy; Survival

The purpose of the paper is to present the way of managing with the Law of Free Access to Public Information in the Republic of Macedonia. This paper supports the fact that it is not possible transparency and accountability of state institutions if this area is not regulated by law. The focus of research is on the Law on Free Access to Public Information, seven years of its implementation. The results of the survey confirm the initial hypothesis that the relevant constitutional and legal norms are the foundation of free access to public information. The results point to the general conclusion that the situation in the country is generally good. However, it was determined the need for greater and stronger actualization affirmation of the right of citizens for free access to public information. Keywords: Information, transparency, accountability, free access.

The public sector should be focused on satisfying the needs of the citizens on efficient, transparent and responsible way. The civil society and the private sector should develop awareness and responsibility towards the public duties. The usage of the model on good governance represents the new characteristics of the values: beneficiary treatment, openness and transparency, the rule of law for greater efficiency in the public sector. The main direction in the process of reforms in the public administration is creation of professional, depoliticized, effective, efficient and citizen oriented public administration in accordance with parliamentary democracy and responsibility. The principle of the rule of law and, accordingly, working according to the law implies avoiding administrative behavior and procedures, but still providing room for more flexible type of goals oriented management and elevated level of individual and institutional responsibility. The level of effectiveness in public administration of the loop of responsibility – if it is closed or not. In that context, this study will examine the thesis which states that the management of human resources in the public sector can be accomplished with clear and precise rules and procedures so that it can create realistic basis for effective and responsible public administration. The research focus human resources management functions such as: planning and analysis of the needs of the human resources in the public sector, the employment procedure, the employment introduction as well as evaluation and motivation of the employees. In this perspective, there is inclusion of the procedures for the in-service trainings of the state employees, the criteria for the kinds of training and nomination for the participants of the training, feedback for the completion of the training, evidence and the utilization of the trained employees. Keywords:HRM. administration, effectiveness and efficiency.

Ukoliko se pre nekoliko decenija razvoj merio jedino golim ekonomskim rastom i postizanjem profita, danas je on obojenmoralnom dimenzijom poslovanja. Zbog negativnih uticaja na životnu sredinu čiji je uzrok neodgovorno poslovanje, u modernim se zemljama usvajaju zakoni o zaštiti i unapređenju životne sredine. S druge strane, da bi opstale na tržištu i da bi pokazale svoju odgovornost prema zajednici u kojoj posluju, kompanije usvajaju deklaracije o socijalnoj odgovornosti koje bi trebalo u sebi da inkorporiraju i zaštitu životne sredine. Polazna hipoteza ovog istraživanja je da, ukoliko kompanije poštuju zakonske regule o životnoj sredini, s jedne strane, i ukoliko sprovede u praksi projekte za njenu zaštitu, s druge strane, onda se kompanije mogu prepoznati kao socijalno odgovorne kompanije. Cilj istraživanja je da prezentira sprovođenje i poštovanje zakonskih odredbi o zaštiti životne sredine od strane makedonskih kompanija, kao i realizaciju projekata i aktivnosti u cilju zaštite i unapređenja životne sredine. Predmet istraživanja je Zakon o životnoj sredini Makedonije, godišnji izveštaji Državnog inspektorata za životnu sredinu i prirodu, kao i deklaracije o socijalnoj odgovornostinekoliko makedonskih firmi i projekte koje one implementiraju sa ciljem zaštite i očuvanja životne sredine. Istraživanje upućuje na opšti zaključak da je početna istraživačka hipoteza potvrđena, madane u potpunosti, i da postoji široko polje na kome kompanije mogu i treba da izraze svoje socijalnu odgovornost. Ovo istraživanje može da postavi platformu za dalja istraživanja čiji će cilj biti da pokaže da se može postići bolja pozicioniranost na tržištu ukoliko se preduzeća više brinu o očuvanje životne sredine.

Одржливиот развој е глобално прифатена филозофија на развојот и напредокот и ги сублимира духовните идеали на целото човештво во единствена логична целина. Филозофијата на економскиот раст сфатена како кумулирање на материјално богатство потклекна и ја изгуби битката пред етичкиот концепт на одржливоста на развојот. Како врвни вредности, одржливиот развој на прв план ги става еднаквоста, праведноста, етичноста и одговорноста кон сегашните и идните генерации. Во денешен современ контекст, одржливоста всушност значи одржливост на човековото општество кое е потполно зависно и временски нераскинливо поврзано со природните системи. Во динамички систем како што е човековото општество, одржливоста е прашање на рамнотежа, баланс одржан низ времето и просторот. Одржливоста е динамична; таа е повеќе квалитет на движење отколку фиксна точка. Во практиката, можеби е подобро одржливоста да се дефинира како недостиг на сили кои се стремат да го нарушат балансот со тек на времето, бидејќи повеќе сили можат симултано да дејствуваат и да го нарушат еквилибриумот. Кога сите сили кои ја нарушуваат рамнотежата во системот се отстранети, тогаш може да се достигне одржливост (Dahl, A.L., 1995). Во обидот да се дефинира одржливиот развој, во литературата постојат повеќе дефиниции, кои имаат заедничка карактеристика: сите тие наложуваат светот да се гледа како систем - систем кој го поврзува просторот и систем кој го поврзува времето. Кога размислуваме за светот како систем во просторот, тогаш треба да се сфати дека загадувањето на воздухот во Северна Америка влијае врз квалитетот на воздухот во Европа, а пестицидите користени во Јужна Америка можат да му наштетат на рибниот фонд во Австралија. Кога го гледаме светот како систем низ времето, тогаш сфаќаме дека одлуките кои ги носеле нашите предци за обработка на почвата влијаат врз начинот на кој ние ја обработуваме денес; и дека економските политики кои денес ги воведуваме ќе имаат свој импакт врз нашите деца.

“Ја злоупотребуваме животната средина бидејќи ја гледаме како нешто што ни припаѓа. Кога ќе почнеме да ја гледаме како заедница на која и’ припаѓаме, тогаш можеби ќе почнеме да ја користиме со љубов и почит.” За Република Македонија, стратешка цел е добивање статус на полноправна членка на Европската Унија. Меѓу другото, тоа подразбира и апроксимација на националното со законодавството на Унијата во сите области, вклучително и областа животна средина. За таа цел, во Македонија се изработи и усвои корпус на “еколошки” закони, од кои, заради својата се’опфатност, се издвојува Законот за животна средина. Целта на истражувањето во овој труд е да се утврди на кој начин новиот Закон за животна средина, кој го апроксимира делот од законодавството на Унијата познат како хоризонтална легислатива, ги надминува недостатоците на претходниот, Законот за заштита и унапредување на животната средина и природата. Последователно, предмет на истражување на овој труд е не само легислативата за заштита на животната средина во Македонија, туку и нејзиното уставно регулирање. Притоа, особен акцент во истражувањето е ставен врз четири теми: третманот на здравата животна средина во Уставот на државата, недопрецизираноста на поранешниот начин на регулирање на оваа област, хоризонталните директиви на Европската унија кои се транспонирани во новиот закон, како и областите на правно регулирање на оваа материја кај кои е најевидентно дека постои разлика меѓу двата закони. Спроведената анализа води до заклучокот дека новиот Закон за животна средина е дел од регулативата која е во согласност со утврдените меѓународни стандарди во оваа област. Со тоа, Законот за животна средина ја дава основата за интегрирано управување со животната средина и дава правни можности за да се постави оваа сложена проблематика на нови основи. Клучни зборови: закон, животна средина, директива, Македонија, Европска унија. Abstract "We abuse the environment because we see it as something that belongs to us. When we begin to see it as a community to which we belong, then we may start to use it with love and respect.” One of the strategic goals of the Republic of Macedonia is getting the status of full membership in the European Union. Among other things, this implies approximation of its national legislation with the EU’s one, in all areas, including the field of environment. For this purpose, Macedonia developed and adopted a corpus of "environmental" laws. Due to its complexity, the Law on Environment has to be particularly addressed. Aim of this Paper research is to determine how the Law on Environment, which approximates the part of the Union’s legislation known as “horizontal”, exceeds the shortcomings of the previous, Law on protection and improvement of the environment and nature. Consequently, the object of the research in this Paper is not only the environmental protection legislation in Macedonia, but its constitutional regulation. Moreover, in this research, special emphasis is put on four topics: the treatment of a healthy environment in the state’s Constitution, the inaccuracy of the former way of regulating this area (according to the Law on protection and improvement of the environment and nature, 1996), horizontal directives of the European Union which are transposed into the new Law on Environment, 2005, as well as the areas of legal regulation of environment protection where the difference between the two laws is most evident. The analysis made leads to the conclusion that the new Law on Environment is part of the legislation that is in line with established international standards in this area. Thus, the Law on Environment provides the basis for integrated environmental management and provides legal opportunities to set this complex issue at new foundations. Keywords: Law, Environment, Directive, Macedonia, European Union.

Being defined as one of the everlasting resources, the cultural heritage enriches tourism supply of Macedonia, thus identifying it as unique tourist destination. The geographical location makes Macedonia a magnet for tourists from all over the world. Enormously rich in cultural treasures it might be the next big discovery for curious and always seeking cultural tourism travelers. The paper makes an attempt to investigate possibilities for promoting cultural tourism in Macedonia by using the Web as the leading source of information particularly important in times of increased number of competitors in tourism market. This study is focused on strengths and challenges associated with application of Internet as a rapidly evolving medium in tourism promotion. For this purpose, the paper examines the perception of young population generally towards the aspect of usage of on-line social networks and the Internet in sharing cultural tourism experiences. In this respect, the aim of this research is to determine the level of application and trust in e-media for cultural tourism promotion purposes. So, this empirical evidence reports on analysis based on data obtained from customer survey among 502 young-adult consumers in Macedonia. The outcomes confirm the research hypothesis and point to crucial importance of introducing e-media for promoting cultural tourism. Moreover, this research may serve as a strong background for enlarging quantity of tourists and travelers particularly interested in cultural tourism, as well as in increasing the knowledge for Macedonia as a tourist destination. Finally, the paper strongly recommends this concept and urges the need for identifying effective framework for mitigating the up-to-date modest tourism results, thus acting as basis for initial suggestions in improving cultural tourism promotion.

The focus of this paper is about consideration of how to coordinate the basic public policies in accountable and transparent manner. The coordination of policies creates conditions to standardize the decision making process and is a prerequisite for harmonization of policies of the various departments of state administration.The objective of the work was to determine the status of public policies coordination in the Republic of Macedonia applying the currently the most widely accepted approaches: Regulatory Impact Assessment System and Sustainability Impact Assessment System. Researh done concludes that both systems are used in the Republic of Macedonia. The application of these systems contributes in greater coherence of public policies provided: through the standardized way of submitting materials to the Government, through the obligation of various stakeholders representatives inclusion in the processes of policy making and decision making in various areas, and through the establishment of a mechanism that enable harmonization of policies with the strategic priorities, key strategic documents and fiscal strategy. For the identified omissions, appropriate recommendations for their overcoming are proposed. Keywords: coordination, coherence, policy.

HRM in PA is expected to put together individual performance and overall institutional capacity in particular administrative organizational setting. Both are interdependent and expected to be linked with administrative organizational structure and functional feedbacks, stipulated in code of conduct as a system of procedures. Following this premises, the research was focused on interdependence between administrative effectiveness and organizational preconditions, such as organizational culture, behavior, systemic thinking, etc. Legal and practical aspects of the process consisted of needs assessment, recruitment, selection, introduction to daily activities of the organization and personal duties, were also subject of dye attention, in addition to monitoring and evaluation of motivating tools and general approach in evaluating individual and group performance. In-service trainings (including selection criteria, who will go, and where), organizational improvements, based on “lessons learned” and related to effectiveness and efficiency building, and system of both positive and negative stimuli for public servants, were the set of issues that provided comparability of declarative statements of the public administration superiors with the reality. Based on multidisciplinary approach and using variety of research techniques, the conclusion is that HRM is considered as potentially useful, but not seriously implemented concept – most of the work waiting to be done Keywords:HRM. administration, effectiveness and efficiency.

Sustainable development, as a new paradigm of development, impose a challenge for every country which recognize it as precognition for better life and wellbeing of its citizen’s. Each country has a different, national solution for realization and implementation of this new philosophy of development. Yet, the essential elements that enable the creation of sustainable development policies are the Constitution of the state and its legislative, both containing the basic principles of sustainable development. The aim of this Paper is to present the basis for conducting national policy for sustainable development policy in Macedonia. The subject of research were the Constitution of the Republic of Macedonia and the Low on Environment which is fully complied with the Acquis Communitaire of the European Union. According to analysis done, the result is that the Constitution is founded on the sustainable development pillars and that the Law on Environment contains articles that impose obligations for fulfillment the concept of sustainable development. That leads to the conclusion that Macedonia follows the modern trends in implementation the sustainable development policy. Key words: Sustainable Development, Constitution, Law on Environment.

Foreign Direct Investments (FDI) are one of the fundamentals that enables and accelerates economic development of a national economy. Therefore, each national economy must layout preconditions that will enable attracting of foreign capital. Among other things, an adequate legislation considering the FDI’s is a prerequisite. Hence, the governmental role and policies towards FDI issues may have significant influence on improving the investment climate. The purpose of this paper is to present the manner and scope to which the governmental policies approach this crucial issue. For this purpose, the first goal is to look upon legislative aspects for attracting FDI in Macedonia. The second one is to explore the institutional mechanisms that present coordinates and determinants of the framework for doing business. Simultaneously, the research subject is legislative that regulate this area, as well as some other legal aspects, as: the laws related to the foreign trade, fiscal sector, institutional frame, foreign exchange operations, the area of labor relations, etc. The research results lead to conclusion that the legislation framework, as significant factor of national business environment, provides opportunities for FDI enhancement in Macedonia. Although significant results have been achieved so far, particularly in the last decade, still, there is a need for further improvement of current legislation. Keywords: Foreign direct investments; Foreign capital; Legislation; Business; Macedonia. JEL Classification: G28

Апстракт Проблемите со деградацијата на животната средина и исцрпувањето на природните ресурси добиваат глобални размери. Напредните земји усвојуваат и спроведуваат закони во кои е утврдена фискална политика согласно која животната средина се штити и унапредува. Процесот на апроксимација на националното законодавство со acquis communitaire на Европската Унија резултираше со изработка на бројни закони кои регулираат различни области, меѓу кои и животната средина. Како резултат на тоа, во Република Македонија е усвоен основен пакет закони од областа на животната средина и заштита на нејзините медиуми, во кои се опфатени и финансиските инструменти. Но, за поцелосно зачувување на животната средина, финансиските инструменти треба да се опфатени и во законодавството кое регулира и други области. Целта на овој труд е да утврди дали фискалната политика на Република Македонија е во насока на заштита на животната средина, како еден од фундаментите на одржливиот развој. Во трудот, предмет на истражување се фискалните инструменти (даноци, царини, акцизи, субвенции, итн) утврдени во Законот за животна средина. Наедно, и легислативата која ја регулира даночната политика е предмет на истражување во трудот. Врз основа на добиените резултати од спроведената анализа, може да се заклучи дека фискалните инструменти се добро опфатени и разработени во законите од сферата на фискалната политика, и во Законот за животна средина, и придонесуваат кон нејзина поголема заштита. Трудот ја утврдува поврзаноста на фискалните инструменти со заштитата и унапредувањето на животната средина и ја дава основата за нивно понатамошно зголемување и подобрување. Освен за "зајакнување на свеста" кај државата и општеството за потребата од усвојување и спроведување на легислатива насочена кон заштита и унапредување на животната средина, ова истражување е од особена значајност за бизнис заедницата на Република Македонија. Клучни зборови: фискална политика, даноци, царини, надоместоци, животна средина.

The Republic of Macedonia’s accession to EU is a strategic goal supported by the majority of the citizens living in the country. One of the obligations that the Republic of Macedonia should meet is transferring the EU legislation into the national legislation. In that sense, the area regarding environmental protection has one of the leading roles and it is actually before the rest of the areas. Part of the legislation in this area had been transferred up to year 2004 and it has been being a subject to implementation so far. The transfer and the implementation of legislation in the sector of water protection have a special place in EU legislation on environmental protection. In the case with the Republic of Macedonia, all this has been covered with the Law on Environment and the Law on Waters. This paper tries to give a detailed analysis of the Macedonian case, shedding a light on the period from 2004 to 2011. In doing so, what is taken into consideration are the inspections carried out on the behalf of the State Environment and Nature Protection Inspectorate. The paper also sheds a light on the financial aspects regarding the implementation of these laws in practice. The results from this research lead to the conclusion that the implementation and the compliance have an upward trend of movement, but there is still a room for further improvement. Keywords : environmental legislation, water sector, European Union, Republic of Macedonia.

Modern trends have pressed countries towards policy creation and its implementation into the national legislation. Due to its actuality, the environmental protection has emerged as an extremely significant area of interest regarding the policy creation for each country. The focus of the research is dual: firstly, to emphasize the treatment of environmental protection in the Constitution of the Republic of Macedonia, and secondly, to summarize the environment protection principles upon which the environmental legislation in the Republic of Macedonia is built. The aim of this paper is to determine the approach that the Republic of Macedonia practices in the field of environment policy making. The conducted research resulted in the conclusion that the right to a healthy environment is one of the basic rights of citizens in the Republic of Macedonia, according to its Constitution. Furthermore, the survey’s results suggest that the principles upon which the environmental legislation is built reflect the latest accomplishments in environmental protection and its improvement. Keywords: Environment, Constitution, Law, Principles.

The focus of this paper is on how to coordinate the basic public policies in accountable and transparent manner. Coordination of policies creates conditions to standardize the decision making process and is a prerequisite for harmonization of the policies of different departments of state administration. The objective of the work is to determine the status of public policies coordination in the Republic of Macedonia applying currently the most widely accepted approaches: Regulatory Impact Assessment System and Sustainability Impact Assessment System. Researh completed has concluded that both systems are used in the Republic of Macedonia. The application of these systems contributes to greater coherence of public policies provided through the standardized way of submitting materials to the Government, the obligation to involve representatives of different stakeholders in the processes of policy making and decision making in different areas, and establishment of a mechanism that will enable harmonization of policies with strategic priorities, key strategic documents and fiscal strategy. For the identified omissions, appropriate recommendations for their overcoming are proposed.

Фокусот на овој труд е насочен кон активностите преземени со цел превенирање на еколошка катастрофа која се закануваше на Дојранското Езеро. После 1985 година, како резултат на неконтролираното испуштање вода, подолготрајните суши и преголемото испарување, количеството вода во Дојранското Езеро се намалуваше. Соочена со еколошки проблем од поголеми размери, Владата на Република Македонија покрена иницијатива “Спас на Дојранското Езеро”. Цел на истражувањето е да го презентира начинот кој се презеде за доведување дополнителни количини вода, преку хидросистем чија изградба започна во 2001 година, а првите количини вода се испумпаа во 2003 година. Токму затоа, разгледуваниот период е 2001 – 2005. Од таа причина, предмет на истражување беа податоците за нивото на водата во Дојранското Езеро пред започнување со работа на хидросистемот, и после. Врз основа на спроведената анализа на податоците за движењето на нивото на водата во Дојранското Езеро за периодот 2001 – 2005, може да се констатира дека состојбата со количеството вода е подобрена. Сепак, не може со сигурност да се заклучи дека испумпувањето на дополнителна количина вода во Дојранското Езеро е единствената причина за покачување на нивото на водата. Секако дека кон подобрување на состојбата придонесоа и пообилните врнежи. Клучни зборови: Дојранско Езеро, води, животна средина.

Сажетак Основни мотив за ово истраживање је анализа законске регулативе која је од фундаменталног значаја за привлачење страних директних инвестиција у Републици Македонији. Странске директне инвестиције су форма капитала која страном инвеститору омогучују права сопствености, контроле и управљања на бази инвестираног капитала. Искуства, без дилеме потврџују факт да су стране директне инвестиције једна од основа која динамизирају развој националне економије. Измеџу осталог, свака национална економија мора имати адекватну легислативу која че омогучити привлачење страног капитала. Главни циљ овог рада је да се осврнемо на правним аспектима за привлачење страних директних инвестиција. У извесној мери, овај рад обухвача и институционалне механизме који профилирају оквир за пословање. Предмет истраживања су закони који регулишу ову област, као и закони који се односе на фискални сектор, спољну трговину, девизно пословање, радни односа, итд. Резултати истраживања доводе до закључка да правни оквир, као значајан фактор пословног окружења у земљи, пружа бројне могућности за интензивирање страних директних инвестиција у Македонији. Евидентно је да је Република Македонија у последњу деценију постигла значајне резултате у овој области. Ипак, постоји потреба за даље унапређење релевантног законодавства. То је још важније с обзиром на недовољан обим страних директних инвестиција у земљи. Кључне ријечи: СДИ, Легислатива, Бизнис.

Tourism is one of the greatest sources of economic growth and is detected by many undeveloped and developing countries as the only way-out for economic prosperity. This study argues the inevitable relationship between tourism and regional development with an aim to investigate the potential of successful contribution of tourism to regional development in the south-west part of Macedonia. In particular, it makes an attempt to explore and compare the NUTS3 regions from the perspective of tourism potentials for regional development. This empirical evidence reports on analyses based on stylized facts obtained from secondary data. The outcomes point to the fact that the South-West planning region is the leading statistical region in Macedonia when referring tourism and regional development issues. Yet, despite its enormous potentials, tourism still has not reached its peak point. So, the paper strongly recommends this evidence as a good example for boosting regional development through tourism application. Furthermore, it urges the need for identifying effective framework for mitigating the up-to-date modest results and creating sound public policies. Additionally, the contribution of this paper lies in the fact that it enriches the poorly-developed empirical academic work within this scientific area in Macedonia.

International mergers and acquisitions (M & A) as a way of restructuring the companies represent an important part of the world of corporate finance. Every day the Wall Street investment bankers arrange M & A transactions in which individual companies are merging together to form larger and stronger companies than they are. Not surprisingly, such activities often appear on the news. These contracts totaled hundreds of millions, even billions of dollars. They determine the future of the companies involved and all their employees, which is far from irrelevant. The executive director who manages the acquisition or the merger could achieve the peak in his/hers career with this transaction. And no wonder we hear so much about these transactions because they happen all the time. The next time you open the newspaper in the area of Business and Economics the chance to read at least one title for some kind of M & A transaction is really great. The basic idea: one plus one makes three - is an equation with a special alchemy for mergers or takeovers. The key principle of merging or buying a company is to create higher value than the sum of individual values of both companies. The two companies together are more valuable than two separate companies, at least, that's the reasoning behind M & A. This explanation is particularly attractive to companies when times are tough. Strong companies will seek to buy other companies to strengthen their position and be competitive. The companies share a common hope that they will gain more market share or achieve greater efficiency. Because of these potential benefits, target companies often agree to be purchased, especially when they know they can’t survive alone. Regardless of their category or structure, all mergers and acquisitions have one common goal: they are meant to create synergy. The success of mergers or acquisitions depends on whether this synergy is achieved and which is the price for that goal.

The so far worldwide experiences have undoubtedly affirmed the fact that FDI is one of the fundamentals that enables and accelerates the economic development of a national economy. Consequently, every national economy must have adequate legislation that will enable smooth attracting of foreign capital. The core motivation for conducting this research paper is analysis of the changes in legislation and their impact on the scope and structure of the FDI in the Republic of Macedonia during the last decade. The crucial aim of the paper is to look upon the changes in legislation and its impact on the scope and the structure of the FDI in the Republic of Macedonia during the last decade. However, to some extent the institutional mechanisms that profiled the framework for doing business are important too. The subject of the research is the constitutional and legal framework of the Republic of Macedonia related to attracting FDI. The results of research done lead to the conclusion that the legal framework is a factor that determines the business environment in a country, but it’s influence on the intensity and the structure of the FDI in the Republic of Macedonia has no significant regularity. Оver the last decade Republic of Macedonia has achieved significant results in this field. Still, there is a need for further improvement of the relevant legislation. Key words: Foreign Direct Investments (FDI), Legal Framework, Republic of Macedonia

For several years the issue of global imbalances has attracted the attention of the scientific and general public in developed countries and emerging countries. The authors of this article address different views on the causes of global imbalances and suggest that they more or less reflect the interests of actors in discussions in order to provide a painless solution to his country in addressing global imbalances. This is especially evident in discussions in which blame for global imbalances switches on under appreciated Yuan (China), or on excessive saving in emerging countries. The development of attitudes about the causes of global imbalances is due to the in sustainability of the argument previously imposed. The authors believe that contemporary global imbalance can not be explained without the internal causes of deficits and external debt of the United States, the weakness of the dollar. There is no doubt that using the dollar as world currency is the cause of global imbalances because it generates growth in the current account deficit of the United States, and at the same time, these deficits are necessary to create sufficient liquidity worldwide. It is high time the national currency-the dollar, which performs the function of world money, to be replaced with real world currency. In this context the authors actualize proposal of Ј.M. Keynes to create the world's money (under the name bancor) because their mechanism of operation ensures the exchange equilibrium, without the occurrence of excessive deficits and surpluses in different countries. It establishes the principle of equal responsibility of the member countries of borrowers and creditors to maintain a balance in international payments.

The Foreign Direct Investments (FDI) is a form of venture capital which provides the foreign investor acquiring rights to ownership, control and management on the basis of invested capital. The experience has undoubtedly affirms the fact that FDI is one of the fundamentals that enables and accelerates the economic development of a national economy. Among other things, each national economy must have adequate legislation that will enable smooth attracting of foreign capital. The core motivation for conducting this research paper is analysis of the changes in legislation and their impact on the scope and structure of the FDI in the Republic of Macedonia during the last decade. The crucial aim of the paper is to look upon the legal aspects for attracting the FDI. However, to some extent the paper covers the institutional mechanisms that profiled the framework for doing business. The subject of the research are the laws that regulate this area, also the laws related to the fiscal sector, foreign trade, foreign exchange operations, the area of labor relations, etc.. The results of research done lead to the conclusion that the legal framework, as a significant factor of the business environment in a country, has a very strong influence on the intensity and the structure of the FDI in the Republic of Macedonia. Оver the last decade Republic of Macedonia has achieved significant results in this field, but there is a need for further improvement of the relevant legislation yet. This is more important considering the insufficient volume of FDI. Key words: Foreign Direct Investments (FDI), Legal Framework, Republic of Macedonia.

Environmental protection is one of the main factors underlying a successful tourism development. This paper presents the foundation of the national policy for environmental protection as a current leading philosophy, and a concept whose implementation is a paramount for the survival of humanity. Being one of the key factors of the comprehensive social development of every country, the environmental protection has been recognized and addressed as a topic both in the Constitution of the Republic of Macedonia, as well as its legislative branches. In the paper an analysis has been undertaken, based on which one can conclude that the Constitution and the National Regulations from the domain of the fiscal policy (taxes, customs, compensations, etc.) have been created in compliance with the essential functions of environmental protection. Key words: environmental protection, tourism development, legislation, tax.

Одржливиот развој му нуди на човештвото квалитетен развој, развој во кој се избалансирани човечките со природните вредности, развој кој е модел за праведен и напреден свет. Тоа подразбира врамнотежување на економските, социјалните и целите за заштита на животната средина и нивно интегрирање секогаш кога тоа е можно преку креирање политики и практики кои взаемно се поддржуваат. Поаѓајќи од фактот дека во овој момент не се наѕира друга концептуална теорија која може поквалитетно да ги ситуира интересите на сите општествени чинители, современата научна јавност со особен интерес ја третира оваа проблематика. Токму затоа, одржливиот развој се наметнува како концепт што ќе ја определува иднината на современото човеково општество, а негова најсилна страна е принципот на интегралност. Предмет на истражување беа документите усвоени на конференциите организирани од страна на Организацијата на Обединетите нации, договорите со кои се конституира Европската унија и кои ја определуваат насоката на нејзината генерална политика, нејзината Стратегија за одржлив развој, како и националните стратегии за одржлив развој и формираните тела за одржлив развој во некои од земјите членки на Унијата, со што се појаснува начинот на кој Европската унија гради политика на одржливост на развојот Во трудов, разработени се и концептуалните аспекти на одржливиот развој, неговите генеза и историјат, и потребата од изработка на национална стратегија за одржлив развој. Клучни зборови:. одржлив развој, заштита на животната средина, усогласување на политики, Европска унија, Република Македонија, Организација на Обединетите Нации. ABSTRACT Sustainable development offers the mankind qualitative development, i.e. development in which human values are balanced with natural ones, a development which is a model for a fair and progressive world. This assumes balancing of economic, social and environmental goals and their integration whenever it is possible, through creation of mutually supportive policies and practices. Based on the fact that at this moment there are no notions of another conceptual theory that could better settle the interests of all social stakeholders, the modern scientific community treats this matter with special interest. For this reason, the sustainable development concept has emerged as a concept to determine the future of modern human society, with integrity being its strongest point. The subject of research focused on documents adopted at conferences organized by the OUN, Treaties constituting the European Union and determining the directions of its general policy, the EU Strategy for Sustainable Development, as well as national strategies for sustainable development and established national sustainable development bodies in some of the EU member states, enligheting the manner in which the European Union has built the policy of sustainability of development. The scope of the work includes elaboration of conceptual aspects of sustainable development, its genesis and background, the need for developing a national strategy, Key words:.Sustainable Development, Environment Protection, Policy Harmonization, European Union, Republic of Macedonia, United Nations Organization.

In the last two decades the competitive landscape for many organization has been changing rapidly in compleh and unpredictable ways. As a result, their ability to survive in the global economy often takes priority over the industrial era goal of profit maximization. This is particulary obvious now, following the onset of the current global economic crisis, the biggest since the Great Depression of the 1930s. Full-spektrum innovation capability refers to an organizatios ability to create value derived not only from new products and services for customers , but also from changes in its business model, in its culture and in the distribution of power for decision-making. The proposed approach involves pursuing innovation horizontally, working from customer needs backwards along succesivie stages of a firms value chain and vertically, at successively deeper thae assumption underlying the present bussines model. The purpose of full- spectrum innovation is twofold. The first is to achieve the outcomes needed for survival and sustainable excellenge by creating value for customers and other stakeholders. The second is to capture most of the value created from the temporary monopoly-type competitive advantage conferred from innovations. Key words: innovation types, horizontal versus vertical innovation capabilities, innovation strategies, innovation culture.

The objective of this paper is to present the foundations for conducting a national policy for sustainable development as a leading philosophy of the present days and a concept whose implementation is imperative for the survival of mankind. The concept of sustainable development might be enabled by the normative acts, strategic development documents, institutional structure etc. Nevertheless, it is an indisputable fact that, in this context, the Constitution and the national legislation prevail as key factors ensuring sustainability of the entire social development of a country. Globally perceived, the concept of sustainable development has started to appear at the beginning of the 1970's, as a response to the intensive technological and economical development, which were not taking into account the environmental issues and protection of natural resources. Sustainable development is a development for satisfaction of the needs of today's generations, without endangering the possibilities of the future generations to satisfy their own needs. This paper explores the incorporation of regulations leading towards sustainable development in the Constitution of the Republic of Macedonia as well as in the laws standardizing the environment issues (the Laws on: Environment, Nature Protection, Waste Management, Ambient Air Quality, and Waters). The analyses made resulted in the conclusion that the Constitution and the laws in the sphere of environment have been created to ensure sustainable development.

Најгорлив проблем пред кој е исправена науката воопшто е проблемот поврзан со последиците од сфаќањето на развојот, и последователно со сфаќањето на односот човек – природа. Тековните филозофии за развој можат да бидат сублимирани во три концепти: концепт на економски растеж, концепт на длабока екологија и концепт на одржлив развој. Во овој труд, презентирани се согледувањата за клучните карактеристики на трите концепти, како и за недостатоците на концептите за економски растеж и за длабока екологија, преку преиспитување на нивните базични принципи. Истражувањето упатува на заклучокот дека и концептот на економски растеж и концептот на длабока екологија не можат да го издржат тестот на времето, а концептот на одржлив развој со сета своја надмоќ се наметнува како водечки правец за напредок на човештвото во хармонија на природата. Клучни зборови: Одржлив развој, Eкономски раст, Заштита на животната средина. ABSTRACT The most imminent problem confronting the science in general is the problem connected with the consequences of our understanding of the development, and consequently with our understanding of the relation man – nature. The modern philosophies of development can be sumarised in three concepts: the Concept of Economic Growth, the Concept of Deep Ecology, and the Concept of Sustainable Development. In this Paper, findings on the most important characteristics of the three concepts are presented, as well as the weaknesses of the concept of economic growth and the concept of deep ecology through questioning of their fundamental principles. The conducted research leads to the conclusion that both, the concept of economic growth and the concept of deep ecology can not endure the test of the time, and the concept of sustainable development with all its superiority impose as a leading direction for human progress in harmony with the nature. Key words: Sustainable Development, Economic Growth, Environment Protection.

Една од стратешките цели на Република Македонија е нејзина интеграција во Европската Унија. Меѓу другото, тоа значи и следење на нејзината генерална политика. Затоа, од особена значајност е да се утврди дали Европската унија води политика на одржливост на развојот. Во трудот се презентирани согледувањата за вграденоста на одредби кои упатуваат на одржливост на развојот во договорите со кои се конституира Унијата (Treaties) и кои ја насочуваат нејзината политика, а се осврнува и на стратегиите за одржлив развој изработени и на ниво на Унијата, и на ниво на нејзините земји членки. Истражувањата упатуваат на заклучоци дека генералната политика на Европската унија е постигнување на одржлив развој. Клучни зборови: Одржлив развој, Договорите на Европската унија, Политики. ABSTRACT One of the strategic goals of the Republic of Macedonia is its integration to the European Union. Among the other things, it also means following of its general policy. For that reason, it is of a crucial importance to establish whether the European Union carries out a sustainable development policy. In the paper are presented views for the built in regulations that refer to the sustainability of the development in the Treaties by which the Union is constituted and which direct its policy. This paper reviews the sustainable development strategies which are made on the level of the Union, as well as on the level of its Member States. Researches refer to conclusions that the general policy of the European Union is an achievement of a sustainable development. Key words: Sustainable Development Strategies, European Union Treaties, Policies.

Охридското Eзеро е несомнено едно од најубавите и најстарите езера во светот. Неговата бистрина и прозирност се надалеку познати. Тоа се и главните причини заради кои секоја година го посетуваат туристи од целиот свет. Но, освен величествената убавина туристот го интересира неговата чистота и здравствена исправност мерена со хемиски и микробиолошки испитувања. Токму тоа е и целта на овој труд – да се утврдат местата на охридското крајбрежие кои го заслужуваат епитетот “еколошки точки “. За ова истражување користени се официјални податоци од Заводот за здравствена заштита во Охрид. Анализата резултираше со заклучоци за управување со квалитетот на водата во Охридското Езеро. Клучни зборови: Охридско езеро, управување со квалиетот, медицински туризам ABSTRACT There is no doubt that the Ohrid Lake is one of the most beautiful and oldest lakes in the world. It’s known for its clearness and translucency. These are the main reasons for which Ohrid is an attractive touristic destination with number of tourists coming from foreign countries. However, besides its magnificent beauty, the tourists are also interested in its hygienic condition measured through chemical and microbiological examination. The main point of this study is to identify the locations along the Ohrid coast that will be marked as “ecological points”. For the purpose of this research, an official data has been used from the Institute of health protection in Ohrid. The analysis conducted within this study resulted with serious conclusions for managing the quality of the water in the Ohrid Lake. Key words: Ohrid Lake, managing quality, medical tourism.

The climatic changes will undoubtedly have a dramatic effect on the social living of mankind. Tourism as one of the most developed economic branches, will feel the impact maybe more than the other ones. The new technological achievements such as the Internet and its easy and mass availability, completely change the application of the trade law in tourism. Concluding individual trade agreements on line, although more risky, cannot be prevented by anyone. Tourism will have to be extremely vigilant of the changes and will have to acquire more flexibility and adapt accordingly. Key words:tourism, climate, population, future, regulations

АПСТРАКТ Во трудот е прикажана практичната имплементација на еден од принципите наведени во “Изјавата за приципи за шумите” при градењето на националната политика во областа на одржливото шумарство во Република Македонија. Анализата на Уставот на Република Македонија, националното законодавство, како и на стратешките документи релевантни за областа, беше направена со цел определување на вграденоста на “Принципите за шумите” во политиката за заштита на шумите во Република Македонија, давајќи го правецот за одржливо управување со шумските екосистеми. Врз основа на направените истражувања може да се заклучи дека анализираните материјали го имплементираат принципот согласно кој националната политика треба да ја даде рамката и стратешките насоки за креирање политики кои ќе овозможат зачувување и одржлив развој на шумите. Клучни зборови: одржливо шумарство, одржливо управување со шумите, закони, национални стратешки документи. ABSTRACT A practical implementation of one of the principles defined in the "Statement on Forest Principles" in developing national policies in the area of sustainable forestry in the Republic of Macedonia is presented in this paper. The analysis undertaken of the Constitution of the Republic of Macedonia, legal acts and strategic documents relevant for this sector has the aim to find out whether the Forests Principles are included in the Macedonian forest protection policy, giving the basis for sustainable management of forest ecosystems. Based on surveys undertaken it could be concluded that the analyzed documents are implementing the principle that national policy should establish a framework and strategic guidance in creating policy enabling conservation and sustainable development of forests. Key words: Sustainable Forestry, Sustainable Forest Management, Legal Acts, National Strategic Documents.

ИЗВОД Матлиевска М. (2008): Одржливиот развој и Европската Унија. Зборник на трудови од III Конгрес на еколозите на Македонија со меѓународно учество, 06-09.10.2007, Струга. Посебни изданија на Македонското еколошко друштво, Кн. 8, Скопје. Одржливиот развој е дефиниран како принцип, како обврска, како цел и како право согласно Договорите со кои се конституира истата. Трудот се осврнува на вграденоста на принципите на одржливиот развој при градењето на политиките на ЕУ. Заклучоците упатуваат на фактот дека одржливиот развој е сеопфатна и главна цел на Европската Унија и нуклеус на европскиот модел на општество. Воедно, имајќи ја предвид аспирацијата на Република Македонија за влез во Унијата, евидентно е дека таа ќе треба да ја следи нејзината генерална политика. Клучни зборови: одржлив развој, договорите на Европската унија, политика. ABSTRACT Matlievska M. (2008): Sustainable development and the European Union. Proceedings of the III Congress of Ecologists of the Republic of Macedonia with International Participation, 06-09.10.2007, Struga. Special issues of Macedonian Ecological Society, Vol. 8, Skopje. Sustainable development is defined as a principle, an obligation, as a goal and as a right in the Treaties that establish the European Union. This Paper shows the incorporation of the sustainable development principles in the process of EU policy decision making. The conclusions lead to the fact that the sustainable development is a major and overarching goal of the EU and a nucleus of the European model of society. Having in mind the Republic of Macedonia’s aspiration to become an EU Member State, it is obvious that the general Union policy should be followed. Key Words: Sustainable Development, EU Treatments, policy

Предмет на истражување на оваа докторска дисертација се документите усвоени на конференциите организирани од страна на Организацијата на Обединетите нации, договорите со кои се конституира Европската унија и кои ја определуваат насоката на нејзината генерална политика, како и актуелните состојби во Република Македонија во поглед на целокупната организација на општеството во постигнувањето на стратешките задачи (со особен нагласок на поставеноста на органите и телата на државната администрација, осмисленоста и начинот на нивното функционирање и др), можностите за водење политика на одржливост на развојот, изразено особено преку истражување на Уставот и законите на Република Македонија, изработените стратешки развојни документи по поединечни области, економските инструменти за финансирање на заштита на животната средина, и др. Опфатот на трудот се протега од разработка на концептуалните аспекти на одржливиот развој, неговите генеза и историјат, потребата од изработка на национална стратегија за одржлив развој, начинот на кој Европската унија гради политика на одржливост на развојот, можностите за остварување на одржлив развој во Република Македонија, за да, преку елаборација на клучните чекори за одговорно управување со процесот на изготвување стратегии за одржлив развој, понуди модел за нејзино развивање, модел кој во потполност одговара на задачите на стратешкиот развој. Abstract: The subject of research of this doctoral thesis focuses on documents adopted at conferences organized by the United Nation’s Organization, Treaties constituting the European Union and determining the directions of its general policy, as well as the current conditions in the Republic of Macedonia in terms of the overall organization of the society towards the achievement of strategic objectives (with particular accent on the organization of the bodies of the state administration, the rationale and the manner of their functioning, etc.), the possibilities to manage policy of sustainability of development, reflected especially in the exploration of the Constitution and the laws of the Republic of Macedonia, developed strategic development documents by individual areas, economic instruments for environmental protection financing, etc. The scope of the work includes elaboration of conceptual aspects of sustainable development, its genesis and background, the need for developing a national strategy, the manner in which the European Union has built the policy of sustainability of development, possibilities for achieving sustainable development in the Republic of Macedonia, and through elaboration of the key steps in the responsible management of the process of developing strategies for sustainable development, it will offer a model for its development, as a model fully compliant with the objectives of strategic development.

The purpose of this Paper is to convey the experience Republic of Macedonia has had in the process of developing of the National Assessment Report on Sustainable Development, for the World Summit on Sustainable Development, held in Johannesburg, 2002. The admission and the way of Assessment Report developing is presented in this material regarding/considering: working bodies that were established, work methodology that was defined, obstacles and problems that were identified in the process of implementation, as well as the most appropriate solutions that were taken. Also, the Paper contains the national developing strategic documents that incorporate the concept of sustainable development. These documents, developed in the Republic of Macedonia in different sectors, serve as a basis for data collection on the level of sustainability in sectorial politics. As summary in this Paper, the future steps and activities that have to be undertaken by the Republic of Macedonia are identified, in direction of developing and implementing the National Strategy of Sustainable Development. Key words: Republic of Macedonia; "Guidelines for Rio Assessment for Rio + 10", (Earth Council); Working methodology; National Preparatory Committee; Coordinative Body; Questionnaire, national strategic documents.