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.
The World Bank expects Georgia’s economic growth to be at an average rate of 5.5 per cent, per year, over the medium term, based on greater policy certainty, improved market access and strong structural reform implementation. Irakli Kilauridze, Managing Director, Colliers Georgia, and Sulkhan Khabadze, Director, British Georgian Chamber of Commerce in London discuss the business climate and investment opportunities in Georgia.
Attracted by higher growth prospects and seeking new business opportunities, more and more Polish companies are looking to expand to foreign markets, including the United States.
Currently, there are obstacles that companies have to overcome.
Two Polish business people, Marcin Piątkowski, CEO & Founder of JAM Vehicles and Jakub Imosa, Co-Founder & CEO of Kotrak Group, explain what expectations they have of the the Transatlantic Trade and Investment Partnership.
The Belarusian government with a newly appointed prime minister and minister of economy is trying hard to maintain economic stability and growth. The economy is highly sensitive to Russia’s economic climate and recent slump, combined with low revenues from oil export duties, poses a serious risk to Belarus.
There are about 5.5 million students in the region, about 50 per cent more than in 2000. According to UNESCO, that means there are 46 students per 1,000 inhabitants, six more on average than in the European Union. The people are much younger than in Western Europe. Compared to the EU where 82 per cent of the population is below the age of 65, that share is higher by 2 per cent and in countries like Slovakia, Belarus, Poland and Romania is between 85 and 87 per cent.
Poland is the major destination for U.S. investments in Central and Eastern Europe with direct investments worth over €11 billion (out of 29 billion invested in the CEE region in 2012). The actual value of U.S. investments in Poland approaches PLN 91 billion or €22 billion.
The Romanian capital market may still be small but is bound to grow thanks to significant changes it is undergoing. They are related to the organisation, structure, investing culture, market practices and regulations as well as its vision and development strategy of the stock exchange.
Look beyond politics and notice the country’s economic potential is the Belarusian government’s message to potential foreign investors.
Even though the lack of certain necessary regulations, administration hierarchy and decision-making processes can be challenging, they can also be an opportunity to negotiate attractive individual incentives, benefits and privileges.
The European Union’s fastest GDP growth rate of over 4 per cent in 2013 and the recent adoption of the euro are not the only factors that make Latvia an attractive foreign direct investment destination. For example, Mexican CEMEX, one of the world’s largest building materials suppliers and cement producers, chose Latvia almost a decade ago.
In February 2015, fDi Magazine will publish its inaugural Polish Cities of the Future ranking for 2015/16.
“Polish cities have proven their attractiveness for foreign direct investment and are competitive on not just a regional but also a global scale,” says Courtney Fingar, Editor-in-Chief, fDi Magazine, the Financial Times Group. “Now it is time to see how they measure up against each other and what the respective merits of Poland’s many thriving cities are,” she adds.
Emerging Europe economies keep improving their business environment. According to the WorldBank’s Doing Business 2015 report, the number of CEE countries in the Top 50 has grown by 50 per cent since 2010. “That means these countries have introduced a number of regulatory reforms of business environment as seen by local firms,” says Marina Wes, Country Manager for Poland at the World Bank.