In 2015, foreign companies invested almost $3.4 billion in Romania, which is also the average FDI that the country has attracted in the last four years, according to the World Investment Report 2016. In 2016, Romania is expected to be the EU’s fastest growing economy. Will that growth help the country increase FDI into the country?
Manuel Costescu, Secretary of State at the Ministry of Economy of Romania, is responsible for foreign direct investment as the Head of InvestRomania. He talked to Andrew Wrobel about the country’s new investment promotion strategy, Romania’s key sectors and the successes the country has achieved in fighting corruption and improving its business climate. Continue reading The Reality in Romania Exposes False Perceptions Of The Country
Today, people across the United Kingdom are casting a vote that could change their country, but which could also transform European politics. The Remain camp claims that leaving the EU will be detrimental to Britain’s economy. Their opponents say the detriment to the UK of staying in the EU far outweighs the risks of leaving. They believe the Eurozone has been a disaster and maintain that it’s very important for Britain to regain control of their own borders.
Dr Arup Banerji, Regional Director for the European Union countries for the World Bank Group, talked to Andrew Wrobel about the impact of Brexit on Central and Eastern Europe. They also discussed other challenges that the European Union is currently facing that concern the CEE region and the solutions that might help address these. Continue reading World Bank: Brexit Hides Greater Challenges to the European Union and the CEE Region
By 2025, business process outsourcing (BPO) centres will provide between 300,000 and 450,000 new jobs, says a McKinsey report. According to the Association of Business Service Leaders in Poland (ABSL), by April 2015, 356 investors had set up 532 BPO centres with foreign capital and employed about 150,000 people, across the country.
Tomasz Maciejak, CEO of Business Support Solution, and an audit and outsourcing expert, spoke to Emerging Europe about the prospects for the outsourcing and consultancy sector, as well as the business climate, benefits and the obstacles foreign investors can face in Poland. Continue reading Poland — Overcoming Old Ways to Become a Modern Business Location
In 2015, 1.19 million foreign tourists visited Armenia. That is one per cent fewer than in 2014, as the country attracted fewer visitors from Russia, but almost ten per cent more than in 2013. The country is also one of the ten safest destinations in the world, according to the Global Terrorism Index 2015. International airlines such as Air France and LOT fly to Yerevan regularly and Qatar Airways will begin flights in mid-May, 2016. Continue reading Mayor: Armenia And Its Capital Yerevan Offer Safe Investment And Tourism To a Growing World
In 2015, Bulgaria was named the best outsourcing destination by the UK’s National Outsourcing Association (NOA), and the BPO sector’s contribution to the country’s economy amounts to 3 per cent. In addition to this, the Bulgarian government is aiming to improve the country’s business climate by offering a range of incentives for foreign investors as well as individuals. The country currently has the lowest rate of personal income tax in the European Union and it offers fiscal citizenship to foreign nationals, working in Bulgaria. Continue reading EconMin: Bulgaria — Number One Outsourcing Destination And an Island of Stability in Europe
According to the European Commission, the Slovenian economy grew by 3.0 and 2.5 per cent in 2014 and 2015 respectively. Slovenia also has 83 per cent of the EU average GDP per capita, making them, together with the Czechs, one of the most affluent nations in emerging Europe.
Emerging Europe spoke to Zdravko Počivalšek, Minister of Economic Development and Technology of the Republic of Slovenia, about the country’s plans for further growth, privatisation and their approach to foreign investors. Continue reading Economy Minister: Internationalisation Is the Key To the Slovenian Economy
Plovdiv, Bulgaria’s second biggest city, has been continuously inhabited since the 6th millennium BC. Now, building on its rich heritage, the city is transforming into an innovative and modern business outsourcing and industrial destination.
Emerging Europe spoke to Ivan Totev, Mayor of Plovdiv, about how the city contributed to Bulgaria’s success of becoming the Offshoring Destination of The Year 2015 and what makes the city an attractive investment destination. Continue reading Plovdiv: an Ancient City Is Uncovering Its Modern-Day Treasure
Business people and government representatives from around the globe keep an eye on Central and Eastern Europe and often pay a visit to assess the region’s economic potential. Last September a large Brazilian delegation headed by Brazil’s Vice President, Michel Temer, came to Poland to discuss business and investment. Emerging-Europe.com speaks to David Barioni Neto, President of the Brazilian Trade and Investment Promotion Agency (Apex-Brasil), about business opportunities between the two countries.
Continue reading ApexBrasil’s President Says Poland Is One Of the 32 Key Markets For Brazil
Croatia joined the European Union on July 1 2013 and is still the youngest member state. The country suffered from the global economic crisis but is now on a straight path to growth. Emerging-Europe.com speaks to Ivan Vrdoljak, Croatian Minister of Economy, who had been in the office for two years prior to the country’s accession and is now ending his term as Croatia prepares for a general election in November. Continue reading Economy Minister: Croatia Is Out Of Recession And Looking To Achieve Further Growth
Cluj-Napoca, located in Transylvania, in the north-west of Romania, is competing to become the 2021 European Capital of Culture. Emerging Europe spoke to Emil Boc, the Mayor of Cluj-Napoca and former Romanian Prime Minister about how the city has changed over the last quarter of a century and what the City Hall’s future vision of Romania’s second largest city is. Continue reading Mayor: Cluj-Napoca Is Becoming a Genuine Silicon Valley In Europe
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
Statistically, there are about 4,300 SEZs across the globe, which means that three out of every four countries has at least one SEZ, and more are constantly being added. Now even the Cayman Islands have a new SEZ. In the CEE region, only a few countries have opted to not develop zones. Why Emerging Europe speaks to Deborah S. Porte, a Special Economic Zone expert with over 25 years experience in the comprehensive design and development of various types of economic zones, transport and cargo hubs and technology parks in developing and post-conflict countries. She has worked for governments and institutions such as the World Bank, IFC, DFID, EU, ADB and USAID.
Continue reading Sometimes governments make bad decisions about SEZs