For Poznań, Poland’s fifth largest city, 2016 was a fantastic year. Not only were 1,700 new firms set up, taking advantage of the city’s convenient location between Warsaw and Berlin, but also Poznań attracted more tourists — the number of overnight stays skyrocketed by 18 per cent. In addition, the manufacturing and retail sector grow by nine and thirteen per cent respectively, labour productivity increased by six per cent and unemployment didn’t even reach two per cent — the lowest in Poland. Continue reading Poznan: Translating Entrepreneurship into Understanding Business Services
Large cities have been on the radar of foreign companies that are looking to outsource in Poland, for several years now. With its academic potential, IT traditions and proximity to the large pool of talent in Ukraine and Belarus, Lublin is an interesting alternative. Continue reading Lublin: Building a Reputation as a Business Services Destination
When Ukraine makes the headlines, it is generally because of the war, which started in 2014, in the eastern part. This has hugely influenced the political and economic situation of the country, including the ease of doing business. However, it’s unjustified to think that, given the circumstances, investing in the whole country makes no sense. Continue reading Western Ukraine Could Be an Entry Point into the Country
New VAT forms that companies submit to the tax office and an updated list of products and services with a lower VAT rate are only a few of the procedures that have resulted from the Ministry of Finance’s five recent decrees. In July 2016, the Parliament approved new amendments to the VAT law in order to reduce informal economy. The Ministry of Justice plans on fighting the informal sector even further with terms of imprisonment for up to 25 years for tax fraud. Provisions against tax evasion have recently been introduced. Continue reading Do Your Homework First and Starting Business in Poland is Easier
Unlikely and unusual as it may seem, in a national general multi-subject primary school test, taken last May, final grade pupils in Kosovo achieved higher results in English than in their mother tongue. The subject with the second highest score was computer studies. Continue reading Kosovo: A Population of Talented Young Entrepreneurs Waits at Europe’s Door
Last year’s wire-tapping scandal, where the national security services allegedly recorded some 670,000 conversations from over 20,000 phone numbers illegally, paralysed the small Balkan nation of Macedonia. It is now a year later and the country, which has been an EU candidate since 2005, is trying to move on. Continue reading Macedonia — Stepping Out Of the Shadow Of the Balkans
“External factors should be generally supportive, with stronger growth momentum within the EU, low interest rates and quantitative easing by the ECB, subdued commodity prices and the stabilisation in Russia,” Paul Gamble, Senior Director at Sovereign Group, Fitch Ratings, tells Emerging-Europe.com. Continue reading Fitch And the World Bank: Economic Growth To Remain Solid Within CEE In 2016
Almost every single economy in emerging Europe implemented at least one reform in the last year to improve their business environment. In consequence, as many as 16 economies in the region are featured in the Top 50 of the World Bank’s Doing Business 2016 report. Emerging Europe speaks to Rita Ramalho, Manager of the World Bank–IFC Doing Business, who has compiled a resume about the emerging Europe region especially for us, about how the reforms introduced have helped make doing business easier across the region. Continue reading World Bank’s Doing Business Report 2016 Resume For Emerging Europe
Macedonia’s economy is set to grow by 4-4.5 per cent per annum between 2015 and 2017. The country expects to attract more foreign direct investment and grow its export. Free economic zones, whose export, in 2014, totalled €1.17 billion, or a third of the country’s total exports, are going to help achieve the government’s targets. Emerging Europe speaks to Viktor Mizo, CEO of Macedonia’s Free Zones Authority, about the government’s plans to increase the number of free economic zones. Continue reading More FEZs In Macedonia Will Give an Even Bigger Boost To the Country’s Economy
Estonia and the two other Baltic states —Latvia and Lithuania— are Emerging Europe’s winners of the Milken Institute’s Global Opportunity Index — Attracting Foreign Investment across four broad categories: economic fundamentals, ease of doing business, quality of regulation, and rule of law. Estonia ranked 12th and was followed by Latvia (29th) and Lithuania (37th). The leader got its highest note for the quality of regulations, Latvia and Lithuania — for the ease of doing business.
A fast-growing number of reciprocal business visits between the United Arab Emirates and Central and Eastern Europe, an increase in mutual trade and investment and, finally, very successful flight connections to cities like Warsaw or Prague, launched only a couple of years ago — Why Emerging Europe spoke to H.E. Abdulla Bin Ahmed Al Saleh, Deputy Minister of Economy of the United Arab Emirates, about the prospects of future collaboration between the UAE and the CEE region. Continue reading CEE offers enormous business opportunities, says UAE minister
In the latest World Bank Doing Business in Poland report, comparing business regulations affecting domestic firms, the city of Bydgoszcz was followed by Olsztyn, Białystok, Toruń and Opole.