Before 1989, quite a few countries in Central and Eastern Europe had their own car brands. Today, car manufacturers have located their production facilities across the region, and only two countries can still boast about their own brands: the Czech Republic’s Škoda and Romania’s Dacia. Continue reading Driving the Romanian Automotive Industry
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
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
The 65 largest Czech enterprises recorded an impressive increase of turnover by 7.8 per cent — the highest growth of all countries, says the 7th Top 500 companies in Central and Eastern Europe — Coface CEE Top 500 survey. At the same time, the 73 largest Hungarian companies were able to increase their revenues by 5.6 per cent — three times as much as the total growth rate of the CEE Top 500 (2.1 per cent). There are 176 Polish companies in the CEE Top 500 representing 40 per cent of the whole turnover of the companies in the survey. Continue reading Czech Republic’s largest companies had the highest turnover growth in CEE in 2014
In a recent interview, Professor Marek Belka, Governor of the National Bank of Poland, discussed the largest problems of Polish economy which I have been trying to bring up for a few years now. And that problem is that Poland’s idea of competitive advantages is based on low labour costs. As a result, Poland does not produce much. Instead the country is a large assembly line for international companies, which — trying to reduce their employees’ salaries — open new factories and shared cervices centres. Continue reading Poland Has Set the Bar Too Low, It’s Time To Aim Higher
Since the new government took office 18 months ago, Prime Minister Bohuslav Sobotka’s Cabinet managed to gain 196 new investment projects worth €4 billion, which should generate over 23,000 jobs.
“It is important that we keep up this initial pace in the coming months. The Ministry of Industry and Trade and CzechInvest must build on the success achieved so far and continue to work intensively on improving the conditions for entry of new investors into our country,” said Prime Minister Bohuslav Sobotka. Continue reading The Czech government attracts FDI and creates jobs
American Ametek opened in a new factory for the production of small engines in Subotica, a city in northern Vojvodina, Serbia. By the end of 2015, the facility is set to employ 150 workers and produces 1.5 million engines per annum. This factory will produce electric motors of low power and high efficiency, which are installed in a variety of household appliances. The products from this factory will be intended for export, mainly to Europe, and then Asia and the market. According to Erik Sausiņi, General Manager of Ametek Group Europe, the facility is the first phase of a larger investment in Subotica. Continue reading Ametek opened a new factory in Subotica