Whisper it, but the business environment in Belarus is blossoming, thanks in part to some business-friendly reforms, the most recent of which is cutting red tape for companies. Despite recent protests against high unemployment rate and low living standards – or perhaps because of them – private companies are gently being encouraged to establish themselves.
Slovenia is Emerging Europe’s leader in the number of ‘hidden champions’ — 3.5 per one million inhabitants. As defined by Professor Hermann Simon, a German business leader and author, hidden champions are firms that are market share leaders — amongst the world’s top three or number one in the continent, with turnover below 1 billion euros and yet not generally known to the public. Poland has only 0.7 such businesses per 1 million inhabitants, the Czech Republic and Hungary each 0.4.
Private equity firm Vitruvian Capital has acquired a 30 per cent stake in Romanian cyber security technology company Bitdefender from existing shareholder Axxess Capital. The deal was signed on December 1, and the transaction values Bitdefender at 600 million US dollars.
According to Eurostat’s Digital Economy and Society report, 3 per cent of businesses in the EU still do not have an internet connection, with the highest share of these being found in Romania (16 per cent). The report also states that when it comes to mobile connectivity, there is a distinct gap between large businesses, of which 94 percent use a mobile broadband connection, and SMEs, only 69 per cent of whom make use of the technology.
The ICT sector, with over 420 firms, has been one of the fastest developing sectors in Bosnia and Herzegovina (BiH) over the last few years. According to the Foreign Investment Promotion Agency (FIPA), its share of the country’s GDP amounts to 80 million euros. In 2016, the number of IT people employed by ICT companies increased by 97 per cent compared to 2010, and net profits of ICT firms have doubled.
In a welcome boost for Romania’s burgeoning IT outsourcing sector, the American tech giant GoPro – best known for its action cameras – announced on October 27 that it would be expanding its presence in Romania. GoPro will be moving to larger premises in Timpuri Noi Square, a new development a short distance from the centre of the Romanian capital Bucharest.
Ukraine is the UK’s offshoring destination of the year according to the Global Sourcing Association (GSA) UK. The GSA looked at the outsourcing market from the perspective of the United Kingdom, the world’s second-largest outsourcing market. Continue reading GSA Names Ukraine as UK’s Offshoring Destination of the Year
Poland is Central and Eastern Europe’s leader in technology, with 19 companies ranked in the Deloitte Technology Fast 50 Central Europe 2017 report. The speed of growth among Central Europe’s technology companies continues to accelerate, with the average hitting a new record of 1,127 per cent, the report says. Continue reading CEE Tech Growth Continues: Poland and the Czech Republic Lead the Way
Earlier this month I had the pleasure of chairing a panel of thought leaders and industry experts at the European Bank for Reconstruction and Development (EBRD) in London. The subject matter was centred on the ICT industry in the Ukraine specifically, and the broader Central and Eastern European (CEE) region in general. Continue reading Is the CEE Region About to Steal the Outsourcing Crown From India?
First, Estonia launched a set of revolutionary delivery robots cruising the pavements of the Estonian capital Tallinn in the past summer. Now, the Baltic country has moved forward with its plans to give a new legal status to all of its smart robots. Continue reading Estonia Proposes Bill of Rights and Responsibilities for Robots
Tresorit, a Swiss-based online cloud storage service with an R&D centre in Budapest, Hungary, first grabbed the attention of the international media a few years ago when it offered a 25,000-US dollar bounty to any hackers that could break its encryption. Continue reading Tresorit Still Unbroken Six Years Later
Innovation and excellence across all its operations: this is the definition given to the Lithuanian Global Business Services (GBS) sector by the latest Invest Lithuania report. Over the past eight years, the Baltic country has strengthened its position as a go-to destination for business services in Northern and Central Eastern Europe, with 41 business centres located in Vilnius alone, while several other towns throughout the country, including Kaunas and Klaipeda, are also growing in importance. Continue reading Lithuania Handed Top Marks for Business Services