Government investigations and regulatory compliance are increasingly concerning issues for businesses operating in the CEE market. This is according to the latest Central and Eastern Europe: Risk & Resilience report, published on November 23 by international law firm CMS and Legal Week, which canvassed the views of more than 40 in-house counsel on the region’s business potential and how to mitigate risks.
More than 150 politicians, business leaders, analysts, journalists, bankers, investors and people who simply have an interest in Georgia were brought together on November 20 at the Emerging Europe-EBRD Outlook on Georgia.
The outlook for Moldova is favourable, and in the medium term the economy is projected to grow close to 4 per cent. Those were the conclusions of an IMF report which followed an official mission to Chişinău, led by Ben Kelmanson.
Industrial production prices rose by 2.9 per cent year-on-year in the euro area compared with 2016, and by 3.3 per cent in the EU28. The figures are Eurostat estimates, for the year to September 30. The latest monthly figures also show impressive growth, with both the EU19 and EU28 growing by 0.6 per cent in September.
Georgia, Moldova and Ukraine may soon join the European customs union and Schengen area, gaining increased access to the single market. The European Parliament passed a resolution on November 15 calling for deeper integration with the three emerging Europe states as they implement more reforms, potentially paving the way for them becoming candidate countries.
Income convergence in the Western Balkans has stalled, according to the IMF’s new report, Regional Economic Outlook: Europe Hitting Its Stride. Measured in purchasing-power-parity terms, income levels in the region today are less than 30 per cent what they are in the euro area.
Prague’s Na Příkopě and Pařížská are the most expensive retail streets in emerging Europe, with monthly rents averaging 220 euros per square metre. Kaunas is Europe’s most affordable retail location, with annual rents standing at just 174 euros per square metre. The figures were published on November 16 in a major new report prepared by real estate agency Cushman and Wakefield.
Growth in Emerging Europe increased to around 3 per cent in the first half of 2017, up from 1.5 per cent in 2016, according to the latest IMF Regional Economic Outlook: Europe Hitting Its Stride report. The drivers of the growth are recession in Russia, increasing private consumption, low unemployment and labour shortages which have pushed up wages.
A new report published by HSBC on November 14 shows growth across emerging Europe exceeding expectations in the third quarter of 2017. Romania (8.8 per cent), Poland (4.7 per cent) and the Czech Republic (5 per cent) all beat previous forecasts, while Hungarian economic growth (3.8 per cent) also picked up pace, but came in a touch below consensus expectations.
Poland’s governing party, Law and Justice (PiS) continues to herald its multiple successes two years after the party won a general election. First, the party’s leader Jarosław Kaczyński gave a special interview to state-owned and government-managed TVP, then he and Prime Minister Beata Szydło threw an unexpected press conference, but didn’t take any questions from media representatives. Continue reading Kaczyński Defends PiS Record
Although many private companies are still reluctant to invest in Belarus, where 80 per cent of all industry remains in state hands, Prime Minister Andrei Kobyakov has reiterated that the government wants to continue supporting entrepreneurship.
Continue reading Belarus Steps Up Liberalisation of Business
Confirming China’s increasing interest in emerging Europe, electric car manufacturer Zhi Dou is reportedly looking for a location to build a new plant, with Slovakia one of its preferred options. Zhi Dou, which is part of the Zhejiang Geely Holding Group, wants to start building cars by 2020 in a new facility which will reportedly cost around 400 million euros.