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.
Water economy, high-quality food, wood processing and furniture production are Warmia and Mazury’s smart specialisations. The European Commission came up with a new innovation policy concept to promote the efficient and effective use of public investment in research and boost regional innovation.
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.
ICT is one of Romania’s three top sectors. For example, the country’s software market was worth over €570 billion. According to Brainspotting’s Romania IT Talent Map, 2014, Facts and Figures, in 2014, the expansion of the companies was set to create approximately new 5,000 IT jobs.
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.
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.