It is now over two months since the EU referendum in the UK and the post-Brexit future looks more optimistic for Central and Eastern Europe. The CEE region is already preparing to accommodate foreign businesses, whichever they are, that are currently based in the UK.
During the 26th Economic Forum in Krynica, Emerging Europe organised a panel discussion about the post-Brexit future of FDI in the CEE region. We invited experts from across the region and the UK to discuss the topic: Kerry Hallard, CEO of the National Outsourcing Association, UK, Goran Mickovski, Minister for FDI, Macedonia, Natallia Nikandrava, CEO, National Agency of Investment and Privatisation, Belarus, Katharina Arnold, Senior Manager Foreign Direct Investment, Conway Advisory, Germany, Przemysław Kamil Rosiak, Partner Associate, KPMG, Poland, and Robert Juodka, Managing Partner, Attorney at Law, PRIMUS Attorneys at Law, Lithuania.
Silicon Valley is the symbol of a location the world’s largest high-tech corporations and thousands of start-up companies and also a goal of visionary politicians and businesses across Central and Eastern Europe. That doesn’t mean that the CEE region is not capable of creating its own high-tech and startup clusters. On the contrary, the process is already taking place.
Emerging Europe spoke to Peter Stracar CEO, GE Central and Eastern Europe, Rafał Plutecki, Head of Campus Warsaw, Poland, and Dragoş Pîslaru, Minister of Labour, Family, Social Protection and Elderly People, Romania, about how a Central and Eastern European Silicon Valley is being developed.
In 2015, the Czech GDP per capita amounted to over $17,000 and was the third highest in emerging Europe, after Slovenia and Estonia. Now the country has the second lowest unemployment rate in the European Union, with 4.2 per cent in July 2016, but the economy faces its own challenges.
Jan Mládek, Minister of Industry and Trade of the Czech Republic, spoke to Emerging Europe, about the advances the country has to make to become a fully developed economy.
Innovation in Central and Eastern Europe needs a more commercial edge and governments across the region are trying to improve that.
Emerging Europe spoke to Dragoş Pîslaru, Minister of Labour, Family, Social Protection and Elderly People, Romania, Jadwiga Emilewicz, Deputy Minister of Economic Development, Poland, Peter Stracar, CEO, GE Central and Eastern Europe, and Rafał Plutecki Head of Campus Warsaw, Poland, how to increase innovation in the CEE region.
Brexit isn’t expected to have a short term impact on Central and Eastern Europe but long term consequences are already on the horizon.
At the Economic Forum in Krynica, Emerging Europe spoke to Jan Mládek, Minister of Industry and Trade, Czech Republic, and Mateusz Morawiecki, Deputy Prime Minister and Minister of Economic Development, Poland, about how they see the post-Brexit landspe develop in Central and Eastern Europe.
High economic growth in most countries of Central and Eastern Europe, in 2015, has translated into higher average revenues for the 500 largest businesses in the region which, according to Deloitte, includes 19 countries from emerging Europe excluding the Caucasus and Belarus. The Top 500 ranking indicates that the median revenues of the companies, that were analysed, grew by 3.5 per cent; that is faster than in 2014, when the increase was only 0.3 per cent. Continue reading Digitalisation Is Keeping CEE Top 500 Companies on Top And Competitive
2016 has been a politically-focussed year like none before with the consequences of the Brexit referendum for CEE; the continued denial of the migrant’s quotas; the NATO Summit held in Warsaw, which deployed four multinational battalions into the region and, finally, the never-ending debate over the Constitutional Court in Poland.
Zygmunt Berdychowski is the chairman of the Krynica Economic Forum Programme Council and a co-founder of the Institute of Eastern Studies Foundation. He spoke to Andrew Wrobel about the challenges Central and Eastern Europe and the entire continent are currently facing and how this year’s Economic Forum in Krynica, in the south of Poland, generally reflects the regional trend. Continue reading Krynica: Mapping the Road to Central and Eastern Europe — 26 Years On
The financial crisis has led to plenty of conclusions in Europe. One among the many is that capital markets and their use for the real economy have been far from optimal. If real improvements could be achieved in this this area in the next few years, then growth could be promoted, alternative financing could be offered, the cost of financing could be lowered and access to funding might be improved. In 2015, the European Commission announced the inception of the Capital Markets Union (CMU) which will be a flagship project from the EU. Continue reading The Capital Markets Union: a New Beginning in the European Financial Sector?
In this world nothing can be said to be certain, except death and taxes. Apparently these words, attributed to Benjamin Franklin, cannot be applied to all tax systems. Continue reading Fiscal Policy Predictability in CEE — It’s Time for Change
Responsible leaders from the CEE region believe they cannot avoid the question: ‘What is the next break-out point for Central and Eastern Europe in the potential fourth global industrial revolution?’ Continue reading Moving Forward Together Guarantees a Bright Future for CEE
2016 has been a year of great challenges for Europe: the migration crisis which has brought up a discussion on how to tackle the immigration issue and the migrant quotas within the European Union; the terrorist attacks, the latest in Nice, France, where over 80 innocent people celebrating France’s National Day were killed; the last few weeks’ notable intensification of ceasefire violations in eastern Ukraine; the NATO Summit in Warsaw which has resulted in four multinational battalions being deployed to the bloc’s eastern flank and finally, the results of the EU referendum in the United Kingdom. Continue reading United or Divided? Europe in the Face of the Challenges of Tomorrow
During the global financial crisis, which started less than a decade ago, the CEE countries suffered as a result of a heightened risk aversion on the part of international investors towards the region. The recent UK referendum’s decision to leave the European Union has plunged Europe into global economic instability and uncertainty again. Currently, it is widely expected that the negative effects of Brexit will be more severe for Central and Eastern Europe (CEE) than for other EU economies. Continue reading What Is the Post-Brexit Future of Foreign Direct Investment in Central and Eastern Europe?
Want to drive a BMW? Easy, just make your contribution to the creation of a Central European (V4+) Innovation Hub! Continue reading CEE — Do We Need a Launch Pad For Our On-Site Tech Intelligence in the Silicon Valley