Proceedings of the 14th Economics & Finance Conference, Lisbon

PRIVATE SECURITY INDUSTRY IN THE REPUBLIC OF NORTH MACEDONIA

LETA BARDJIEVA MIOVSKA, OLIVER BAKRESKI

Abstract:

This paper elaborates the position and function of the private security industry in the Republic of North Macedonia. The private security industry is regulated by a Law for private security from 2012, complemented in 2013, 2015 and 2016, which among other, prescribes the conditions for private security activities, the authorizations of the private security personnel, the regulatory governmental body responsible for issuing licenses, oversight, etc. The private security industry in the Republic of North Macedonia proved to be quite a profitable business, at least viewed from the perspectives of financial profit and the financial statements of the currently most famous companies such as Nikob Security, Perpetuum Mobile and Security Services Group (SGS). The private security industry in this paper is perceived and elaborated as a supplement of the security sector in provision of security on one side, and as a profitable activity contributing to the budget and providing employment on the other. The methodology applied in this paper consists of qualitative data analysis of the legal aspects designating this social activity and the quantitative values deriving from the available statistical data depicting the income generated by the private security industry in the Republic of North Macedonia.

Keywords: Private, security, industry, profit, employment, regulation

DOI: 10.20472/EFC.2020.014.004

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