Bosnia and Herzegovina: Focussing on Stability and Business Climate


“Bosnia and Herzegovina is a hybrid that does not work,” Milorad Dodik, President of Republika Srpska, one of two constitutional and legal entities of Bosnia and Herzegovina (BiH), said in May 2017. He is convinced that a referendum on the independence of this region will eventually take place.

“The threat of an independence referendum, alone, is enough to hamper the effectiveness of BiH as a state,” says Dimitar Bechev, director of the European Policy Institute (EPI) in Sofia. “President Dodik has been engaged in brinkmanship for a long time. However, when facing headwinds, he makes a U-turn. But more importantly, [the threat] diverts attention away from allegations of corruption involving Dodik and members of his family,” Mr Bechev adds.

In addition to Mr Dodik’s threat the ghosts of the past war, which ended less than a quarter of a century ago, are still lurking around the corner.

Raising awareness

“Bosnia and Herzegovina is the country that got out of the war and today, many know little about the country. They think it is weak, insecure and that fighting might break out among its new neighbours. But of course, this is not true,” Mirko Šarović, deputy chairman of the Council of Ministers and minister of foreign trade and economic relations, tells Emerging Europe.

However, whether the referendum takes place or not, it is business as usual for local firms as well as foreign companies, who are interested in investing in BiH, thus showing that even in a divided country innovative sectors, such as the energy one, can be attractive for foreigners.

Sarajevo Bosnia and Herzegovina - August 23 2015. One of the streets at old bazaar and the historical and cultural center of the Sarajevo called Bascarsija

In addition, the country’s economy is growing. In Q12017, BiH’s GDP increased by 3.2 per cent. Bosnia and Herzegovina is becoming an increasingly more interesting tourist destination. Between January and May 2017, over 285,600 foreigners arrived in Bosnia and Herzegovina; 12.3 per cent more than in the same period of 2016.

“In early 2014, widespread protests took place in BiH, demonstrating the public’s growing frustration with the overall state of the economy. There was a widespread consensus that the deteriorating socio-economic situation could no longer be ignored and that something had to be done,” says Lars-Gunnar Wigemark, head of EU Delegation to BiH.

Discontent is high, but protests in 2013-14 showed that it does not easily translate into political leverage. Bosnia has lived in conditions of economic crisis for a long time. 

Reforms on the table

In 2015, BiH started a process of structural reform called the ‘Reform Agenda’: It is aimed at improving the country’s poor business environment and putting the pensions’ systems on a more sustainable footing, as well as increasing increase the quality of public spending and public administration.

“These things are never easy and often require patience and sacrifice, but luckily we are already seeing some positive signs when it comes to employment, industrial production and exports, although there is still a long way to go,” Ambassador Wigemark comments.

After the successful 2014, when the country attracted FDI of €399 million, and the large drop of the following year, FDI inflow reached €258 million in 2016, six per cent higher than in 2015. According to the Foreign Investment Promotion Agency of BiH (FIPA), the share of FDI in the country’s GDP accounts for about one-and-a half per cent.

Sarajevo Bosnia and Herzegovina - August 23 2015. One of the streets at old bazaar and the historical and cultural center of the Sarajevo called Bascarsija

“It is well-known that foreign investors go where they don’t face administrative barriers or other obstacles to their investments. FIPA is working on proposing measures to improve the local business environment. Sometimes the implementation of those measures is going more slowly than we expected, considering our economic situation,” Gordan Milinić, director at FIPA tells Emerging Europe.

He says that the key task for Bosnia and Herzegovina is to send a message to the international business community that Bosnia and Herzegovina is a politically stable country. “This is our main challenge for the moment. We always have to explain that political crises are transit crises that do not influence foreign investments,” Mr Milinić explains.

Stability above all

“To facilitate business conditions and investments, BiH must first motivate investors through various structural reforms. Two different tax and fiscal systems, in the two entities, which automatically withdraw acceptance of duplicity and inconsistency is a challenge for us. On top of that there is legal uncertainty because of the necessary permits or approvals that have been waiting for about a year and more,” says Messer’s general director, Valentin Ilievski.

“The government’s objective, now, is to eliminate the legal and administrative obstacles for doing business, as well as to create the most attractive business environment in South East Europe,” says FIPA’s Mr Milinić.

Some results are already in place. In 2017, BiH ranked 81st, 14 notches higher than a decade ago. Paying taxes is one of the areas that has improved — 18 positions higher.

“Corporate income tax is ten per cent, now, and is among the lowest in the region. Operational costs are low, as well, and are significantly lower than in EU countries and are among the most competitively priced economies in the region,” Mr Milinić underlines, stressing the importance of foreign investments.

Sharing experiences

When it was still part of former Yugoslavia, BiH was a strong and important industrial centre, which shows the country’s potential to attract multinational investors across various sectors such as manufacturing, energy and tourism.

“Bosnia and Herzegovina has great potential in the field of energy; both renewable — water, wind, solar, biomass — and thermal energy based on coal reserves and this area could really attract investments worth up to €10 billion in the coming period. There is a significant auto-parts industry and the agricultural sector offers huge opportunities as well. Finally, there is tourism: winter and mountain tourism, ecotourism, spa tourism, cultural and religious tourism and partly marine tourism,” FIPA’s Mr Milinić adds.

The Austrian high-tech manufacturing company, NetQM, has been operating in the country since 2005.

“The flexibility and efficiency of Bosnian employees represents a perfect match for us,” says Markus Strasser-Stöckl, director at Mreža Network Derventa, part of NetQM. “Most of them are highly-educated and speak fluent German or English. Besides this, hourly wages are affordable and the quality of work is not jeopardised. Additionally, Bosnia lies only 600 km from Austria and that definitely represents an important factor for our company,” Mr Strasser-Stöckl adds.

Yet, logistics and the supply chain among BiH, Croatia, Slovenia and Austria are obstacles in order to fully develop the company. ”But if given the opportunity to invest again in the country I would say yes because the quality and the availability of workers are unparalleled and costs of investments in buildings and infrastructure are very low,” Mr Strasser-Stöckl adds.

Messer, which entered BiH in 1997, has created a modern technological base which has resulted in plants for the production and distribution of various industrial gases.

Sarajevo Bosnia and Herzegovina - August 23 2015. People walks in front of place of Assassination of Archduke Franz Ferdinand of Austria

Untapped potential

“In the course of twenty years of operations in BiH, Messer has grown into a modern European company and has become a leading manufacturer and supplier to customers of industrial, food, medical and other special gases,” says Mr Ilievski.

Apart from manufacturing, energy and tourism there is also an ICT sector, which is one of the fastest growing areas in BiH. According to BIT Alliance, an umbrella association for the software development industry, there around 1,400 companies and about 2,500 to 3,500 programmers.

“Bosnia and Herzegovina is still unexplored and has potential for investments. Investors do not know enough about its potential. Thus, there are many resources, but there is no political will and business needs both,” he adds.

“I think there is still a huge untapped human potential in this country. Bosnian and Herzegovinians are amongst the best-integrated, most successful and respected members of our societies, and are living proof of the talent, hard work and entrepreneurial spirit of the people living here,” says Ambassador Wigemark.

“My hope is that, as the country moves closer to the EU, people will dedicate their time and effort into Bosnia and Herzegovina and will not pursue their luck abroad. I also hope that this process will motivate many Europeans to invest in sectors of huge potential, such as manufacturing, energy and tourism,” he adds.

The EU’s support

Being close to the European Union, which is already the country’s largest trade partner, is critical for BiH.

Bosnia and Herzegovina predominantly wants to be part of the European Union, even after Brexit. We explain it by saying that our citizens see some kind of protection — a ”safety net” in the European Union, as well as economic progress,” says Minister Šarović.

Bosnia and Herzegovina was recognised as a potential EU candidate country as early as 2003, but it only formally applied for membership in 2016. Now, it is one of seven countries in line to join the Bloc, together with Albania, Serbia, Macedonia, Kosovo, Montenegro and Turkey.

“An overwhelming majority of people feel that the country’s rightful place is in the European Union”, Ambassador Wigemark says. “They deserve to share the same benefits as more than five hundred million citizens across the EU: better healthcare, better education and more prosperity. Without the Western Balkans, the European Union, a union for peace and a union of values, will never be complete.”

The BiH Convertible Mark, which has been pegged to the Euro, is considered one of the most stable currencies in South-East Europe. A report issued by the European Commission shows that BiH is making slow to no progress, despite the €23.2 billion spent by the EU as pre-accession assistance. The same report also talked about human rights violations, corruption and intimidation towards journalists and political activists, as the biggest obstacles to gaining EU status.

“Bosnia and Herzegovina has signed the Stabilisation and Association Agreement with the European Union, which is a step toward EU membership. The EU will help us to improve the capacity and efficiency of public administration, to strengthen the rule of law and to support social and economic development,” Mr Milinić says.

SARAJEVO, BIH - JULY 05, 2015: Rooftop view of the old center of Sarajevo with minarets and other buildings. Bosnia and Herzegovina

The future ahead

Mr Ilievski also has high hopes for the country. “I trust that we will be one of those economic, commercial and industrial factors of unification of Bosnia and Herzegovina that will integrate Bosnian space and that the next time, when we say that we want to be investors, the local community will recognise the importance of that investment and its benefits for everyone,” he says.

President Dodik’s words about an inevitable referendum echo again, in this context,.

“An independence referendum will be a step backwards,” says EPI’s Mr Bechev. “It seems to me that now Dodik has back-tracked, once again, and I guess a minimal level of cooperation is possible, even in the unlikely case of an independence vote. But it’s going to be ugly overall.”


Lviv Region in Double Logistics Boost

goods train logistics

Polish Enterprise Salaries Climb Steeply

Money of National Bank of Poland. Polish zloty banknote on red velvet background; Macro photo; Depth of field

CEE Boosted by Positive Tourism Trends Across the Region

cruise ship in Kotor Bay Montenegro. Aerial view panorama. Kotor bay Montenegro.

Ukraine’s Anti-Corruption Boss Survives, For Now

Artem Sytnyk

Georgian Wine Posts Record Results

Glass of wine at tasting area of annual city festival Tbilisoba with crowd of people around. Tbilisi, the capital of Georgia country

Michael: The Last King of Romania

China Eyes Moldovan Trade Agreement

CRICOVA MOLDOVA July 24 2017 :Underground wine cellar with collection of bottles in niches. Winery with 120 km of underground passages for wine storage

Warsaw Back on Top in Polish Banking

WARSAW, POLAND - MAY 07, 2016: Building Palace of Culture and Science among the modern buildings of the city

World Bank’s Doing Business Report 2016 Resume For Emerging Europe

Fish in the Bath and Other Christmas Traditions

Christmas Market On The Dome Square With Riga Dome Cathedral In Riga, Latvia. Christmas Tree And Trading Houses With Sale Of Christmas Gifts, Sweets And Mulled Wine. Famous Landmark.

Trans Adriatic Pipeline Will Fuel Albanian Growth

Xanthi. Greece - July 30 2017: aerial view of construction of gas pipeline Trans Adriatic Pipeline - TAP in north Greece. The pipeline starts from the Caspian sea and reaches the coast of southern Italy

Visegrád Divided


Mayor: Armenia And Its Capital Yerevan Offer Safe Investment And Tourism To a Growing World

Meghri Becomes Armenia’s Third FEZ

armenia emerging europe

Slovakia: Growth Continues But Problems Remain

Belarus Steps Up Liberalisation of Business


Budapest’s Property Boom Goes Nationwide


‘Traditional Values’: A Potent Weapon Against LGBT Rights

gay rights putin

Does the Sceptre of Separatism Haunt Emerging Europe?

Szekely Land Flag

Georgia to Develop Rural Fibre-Optic Network

Young man working on his laptop connect to wireless internet in rural area. Internet connection allows people to work anywhere from laptop. Notebook and nature background. Wireless technology concept.

Efficient Innovation: Entrepreneurship in Bulgaria

Beautiful photos of modern buildings under blue sky. Europe, Bulgaria, Sofia.

Emerging Europe’s Economies Are Booming

Warsaw City Guide: 48 Hours in Poland’s Reborn Capital

WARSAW POLAND - DECEMBER 28 2016: Downtown Warsaw Financial center in Warsaw Poland. Warsaw is one of the most economical successful capital in Europe in last few years.

Investment in Croatia’s Regions Key to Further Development

CAKOVEC, CROATIA - JULY 02: Parish Church of Saint Nicholas in Cakovec, Croatia, on July 02, 2016.

Romania Cuts Income Tax, Introduces Solidarity Tax

CLUJ NAPOKA ROMANIA - OCT 2 2016: People on the central street of Cluj Napoka - the unofficial capital of Transylvania.

Chinese Electric Car Maker Seeks Emerging Europe Base

zhi dou d2

Poland Is Set To Become a Large Economic Zone

Aerial view over the building materials processing factory. View from above.

Bulgaria’s Bitcoin Mystery

bitcoin bulgaria

Albania’s Economy Booms Despite Political Infighting

Panorama view to the city Tirana Albania

Latvia Urged Not to Increase Expenditure As Economy Grows

Riga, Latvia - August, 2010: Panorama view from Riga cathedral on old town of Riga, Latvia

Macedonia — Stepping Out Of the Shadow Of the Balkans

Poland to Switch from Emerging to Developed Market by September 2018

warsaw stock exchange

More EU Help for Belarus SMEs

GRODNO BELARUS - DECEMBER 13 2013: Seamstress in textile factory sewing with a industrial sewing machine .

Euroscepticism in Serbia: An Image Problem?

CEE Governments Still Can’t Resist Tampering with Legislation


Czechs Hold Emerging Europe’s Most Powerful Passport

HSBC Opens Warsaw China Desk

Moldova Launches New e-Procurement System In Search For Positive Change

Photo team work process, holding contract hand, signs documents. Account managers young crew works with startup project.New idea presentation, analyze marketing reports.Blurred, film effect, horizontal.

European Commission Withholds 600 Million Euros from Ukraine

kyiv, kiev, ukraine

Nadiya Savchenko: I Dream of a Great Ukraine

Panorama of the top part of the Andrew's Descent from Castle Hill in springtime in Kiev Ukraine.

The Azerbaijani Laundromat: Why It Matters

azerbaijani money laundering

Putin Urges Belarus to End Oil Transit Through Lithuania

Athens Greece - May 27 2016: Russian President Vladimir Putin delivers

CEE Is Key to China’s Belt and Road Initiative

Shanghai skyline Panoramic view of shanghai skyline and huangpu river Shanghai China

Armenia Opens New Free Economic Zone on Iranian Border

Bags headgear boxes made of traditional fabrics of Armenian patterns and colors lying on the stalls at the Yerevan market in Armenia

Tech Giant Expands Romanian Operations

Bulgarian PM Sets Out Priorities at EPP Group Debate

Prague Czech Republic - February 15 2016: The Prime Ministers of Bulgaria Boyko Borissov is speaking during a press conference after meeting of The Visegrad Group (V4) in Prague Czech Republic.

Kraków: Officially Emerging Europe’s Most Elegant City

Krakow. Image of Krakow Market square, Poland during sunrise.

Moldovan Government Hails Business-Friendly Legal Reforms; NGOs Remain Cool

Chisinau, Republic of Moldova, Eastern Europe, 29th June 2017: view to the Parliament Building in Chisinau, Moldova

EU to Fund New Poland-Slovakia Gas Pipeline

slovakia-poland gas pipeline

Mobilising Private Sector Investment in Belarus, Moldova & Ukraine


Business Standards Are High in SEE But Vary Widely

Aerial view of The Cathedral of the Assumption in Varna

Bulgarian Capital Pulls Above Its Weight


SEE Link — Sharing SEE Europe’s Hopes for a Brighter Investment Future

Poland’s Flying Circus

airport poland

P&O Maritime Enters Ukrainian Market

Logistics and transportation of International Container Cargo ship and cargo plane in the ocean at twilight sky Freight Transportation Shipping

Czech Real Estate Market Is Top CEE Performer

Prague skyscrapers in blue hour with purple sky. Modern building architecture after sunset. Office center in capital city. Czech republic lighting buildings.

Still Potential for Growth in CEE as Economies Stabilise

GE Inaugurates Its New Bucharest Software Centre

Asian Outsource Developer Team Sitting At Desk Working Laptop Computer Mobile Application Software Real Office

Poland Stays Cool on Euro Adoption

Euro cash and Zloty on one photo.

Jadranka Joksimović: Serbia Takes Its Candidacy of the EU Seriously


Visegrad Group Looks East

EY: Belarus’ IT Scene Is Thriving

High tech park minsk

EU Triggers Article 7 Against Poland

CRACOW POLAND - JULY 23 2017: Another day in Cracow thousands of people protest against violation the constitutional law in Poland. Defense of the triad of division of power free election and independence of the highest court in Poland

Baltic Bank Merger May Tempt Polish Heavyweight

DNB Bank Vilnius

Continental Launch Largest Ever Lithuanian Greenfield Investment

kaunas lithuania

Economic Confidence Rises Across Eurozone

World Bank: Western Balkans Need to Speed Up Growth For Faster Convergence

world bank

Changes Are Making Ukrainian Banking More Aligned with International Standards

Estonia Leading CEE Country in WEF Competitiveness Index

pharmaceutical factory woman worker operating production line at pharmacy industry manufacture factory

GSA Names Ukraine as UK’s Offshoring Destination of the Year

map of ukraine emerging europe

Mixed Results for Emerging Europe in Legatum Prosperity Index


PE and VC Investment In CEE Is At an Eight-Year High

venture capital

Serbia Drafts New Competition Law

serbia belgrade flag

Poland Must Preserve Wilson Spirit

Do Your Homework First and Starting Business in Poland is Easier

One in Five Poles Unaware of Source of Funds for 500 Plus Programme

Košice Business Matchmaking Event Brings in Hungarians

kosice, slovakia

Ukraine to Make New Privatisation Push

Slovenia: An Optimistic, Export-Led Economy with First-World Problems

Big cranes in port of Koper in Slovenia

EU: Consumption Still Driving Growth

Bulgaria Ski Resort Plans Concern WWF

Bansko, Bulgaria - December, 6, 2015: Two Bansko cable car cabins and snow mountains peaks

Bulgaria Takes on EU Presidency

Sofia, Bulgaria - September 12, 2017: Architectural complex in downtown of Sofia in which the Presidential Administration is located, Sofia, Bulgaria

Despite Public Anxieties, Migration is Playing a Key Role in ECA Growth

Bratislava city aerial panoramic view. Bratislava is the capital of Slovakia.

Azerbaijan, Georgia, Turkey Launch New ‘Silk Rail’ Link

Estonia Posts EU’s Highest Inflation Rate in November

Rising food and grocery store prices is estonia and cost of living concept. Man counting food and consumer goods money with pen, paper and calculator at home. Budget of disadvantaged and low income family.

CEE Emigrants Could Boost Their Countries’ Economies

Londoners walking through Millennium Bridge with St.Paul's Cathedral at the background after sunset - London, UK

Škoda too Strong for VW Group

MLADA BOLESLAV CZECH REPUBLIC - MAY 30: Skoda Octavia on conveyor line during Doors Open Day at Skoda Auto a.s. factory. Skoda auto celebrated 120 years since its founding on May 30 2015 in Mlada Boleslav.

HSBC Reports CEE Growth Surge in Q3

romania national bank

Emerging Europe Looking Good in Best-Performing Cities Index

Budapest, Hungary. Aerial view of the old city Budapest, Hungary with river and Parliament Building with cloudy blue sky

Emerging Europe Back on Track to Convergence


Estcoin: Estonia’s Own Digital Currency?

1 euro coin money (EUR) currency of European Union Estonia over blue background

Bad Payers Still Causing Problems for Romanian Firms

Close up Romanian currency note, LEI or LEU, Romania

Latvian Deputy Prime Minister Highlights Riga’s Potential


e-Estonia: Believe the Hype

Romania Warned Again by European Council Over Budget Deficit

romania finance ministry

Regional News Outlets: The Real Target of Poland’s New Media Law?

poland media

Cabinet Reshuffle In Poland Sees Controversial Ministers Axed

Investigations Into the Corrupt Ukrainian Fuel and Energy Sectors

Ukrainian money hryvnia. The national currency. Corruption in Ukraine

CEE Must Improve Infrastructure and Logistics

Aerial view of Gliwice Sosnica motorway junction. There are international traffic in four directions

Polish Shoppers in Hunt for Eggs

eggs in rack

The Reality in Romania Exposes False Perceptions Of The Country

Romanian National Bank Hikes Interest Rates

BUCHAREST ROMANIA - MAY 25 2014: The National Bank of Romania (BNR) building palace designed by Albert Galleron and Cassien Bernard.

Warsaw Rising: The Polish Capital’s Skyline Gets Even Taller


Ex-Banker to Become Poland’s Next Prime Minister

Poland Fails to Spend Billions of Euros in EU Funds

euro banknotes

Why Emerging Europe is the New Darling of Outsourcing

outsourcing Developing programming and coding technologies. Website design. Cyber space concept.

Go East

The End of Poland’s Shale Gas Eldorado

IMF Urges Croatia to Speed Up Reform


Albania’s Construction Sector Supports the Country’s Growth

SARANDA, ALBANIA - MAY 18: View of the city Saranda, most important tourist attraction of the Albanian Riviera on May 18, 2017 in Saranda, Albania.

Industrial Production Prices in New Increase


Estonia Proposes Bill of Rights and Responsibilities for Robots

Robotic hand accessing on laptop the virtual world of information. Concept of artificial intelligence and replacement of humans by machines.

Ukraine to Restart Privatisation to Realise Profits

Pricatisation electricity ukraine

Japanese PM Announces Western Balkans EU Initiative

TOKYO JAPAN - Apr 06 2016: Japanese Prime Minister Shinzo Abe during his meeting with President of Ukraine Petro Poroshenko in Tokyo

21st century Manufacturing Arrives at Great Stone

Great stone

Polish Convenience Store Sector Booms

Lviv Is the Pearl and the Soul of Ukraine

EU May Offer Georgia, Moldova and Ukraine Customs Union and Schengen Access


Moody’s: CEE Creditworthiness Holding Up

Man's hand holding pen and checking spreadsheet

IMF Wants Banking Sector Reform in Western Balkans

croatia national bank

New Political Crisis Hits Moldova


WEF: Emerging Europe Ready for the Future

robotic machine tool in industrial manufacture plant,Smart factory industry 4.0 concept.

Georgia’s Great Potential

The highland agriculture lands in Gudauri with the herd of sheep grazing here Georgia.

Baltics Seek Lockstep With High Tech States

Euro money: Macro view of euro coin and bill. Suitable for financial, monetary, euro or European Union concepts and ideas

Lithuania Set to Streamline Competition Legislation

Industrial dock with cranes on the quay

Romanian Competition Council Approves OTP Purchase of Banca Romaneasca

BUDAPEST HUNGARY - JUNE 22 2014: People walk by OTP Bank in Budapest. OTP is the biggest commercial Hungarian bank with 1500 branches in 9 countries.

Romanian Cabinet Reshuffled as New Splits Emerge in Ruling Party

BUCHAREST ROMANIA - MAY 25 2014: The Victoria Palace. Victoria Square.

Ukraine Is Offering Europe Unique Combat and Technological Experience

Chris Lowney — What Jesuit Spirituality Can Teach Us About Global Leadership

CEE Nation Brands Still Behind Western Counterparts

TALLINN ESTONIA- JUNE 17: View of the modern high rise buildings on border with an old part of the city on June 17 2012 in Tallinn Estonia

Romanian Economy Grows Fast in 2017

Brasov cityscape panoramic and aerial view over medieval architecture of Brasov town, in Transylvania Romania

Wizz Air in Huge Polish & Ukrainian Expansion

wizz air a320

Kosovo: A Population of Talented Young Entrepreneurs Waits at Europe’s Door

Retail Rents Rise Across Emerging Europe

Na Prikope Prague

Growing Rzeszów

Rynek Glowny in Rzeszow. Rzeszow Podkarpackie Poland.

EU Commissioner: CEE Groceries Are Not of Poorer Quality

Vilnius Lithuania - June 13 2017: Nordica shopping center in Vilnius is very popular with locals and tourists.

Romanian Opposition Unites Against ‘Crime Syndicate’ Government

Beyond Borders: Immigration Within the EU

refugees immigrants

Global Players Dash for Tempting CEE

dollar pound euro coin on euro background.

Croatian Salaries Are Growing in Line With Other CEE Countries

Dubrovnik Croatia emerging europe

Valga and Valka – Where Estonia and Latvia Work Together

Valga valka emerging europe

Emerging Europe Key to China’s Belt & Road Plans

freight, ship, trade

Kaczyński Defends PiS Record

Ask for Georgian Campaign Set to Expand Abroad

Traditional Georgian carpet. Carpets with typical geometrical patterns are among the most famous products of Georgia.

Hungary Today: Potential and Challenge

Chain bridge on Danube river in Budapest city. Hungary. Urban landscape panorama with old buildings and domes of opera

Budget Chaos Hits Romanian Leu

Different Romanian Lei Banknotes on the table

Bulgaria: Real Estate’s New Frontier?

Lithuanian Grocery Giant Maxima Set For Polish Expansion


OECD: Tightening Labour Markets Sustain Growth in Emerging Europe

workers, employment

IFC Invests 30 Million Euros in Ukrainian Packaging Firm

IMMER Ukrplastic

Air Passenger Volumes Reach Record High in the Baltics


Sunday Trading in Poland Under Renewed Threat

The Problem With Central European City-States

Budapest Hungary - Panoramic skyline view of the famous Buda Castle Royal Palace with the Buda Hills and Matthias Church at background at sunset

All for One, and One for All


Czech Republic Approves 2018 Budget

Ten czech crown coins money on black marble background

Digital Business Space Gives All Businesses an Office in Sarajevo

Sarajevo Bosnia and Herzegovina - August 24 2015. View from Vraca Memorial Park with building of Avaz Twist Tower

Double Ratings Agency Boost for Bulgaria

Polish Labour Market Deficits Are Impacting All

Construction site with crane and building. Construction site in western europe - in Poland.

Economy Minister: Internationalisation Is the Key To the Slovenian Economy

Banca Transilvania Concludes Moldovan Deal

banca transilvania

Lithuania Handed Top Marks for Business Services

Beautiful panorama of Vilnius Old Town taken from Gediminas hill; Lithuania

Romanian Car Maker Dacia Sees Sales Boom

Sables d Olonne France - May 07 2017 : Dacia Tour 2017 is a commercial operation organized by the car builder in order to present its cars throughout France - Close-up on cars

What Went Wrong in Ukraine – And When?

The Polish Government’s Mid-Term Report: Must Do Better

Front of finance ministry in Warsaw Poland with a fountain framing the entrance. Could be used for images about Euro currency problems

Young Georgians Make Their Mark at Emerging Europe-EBRD Event

maximilien lambertson at emergeing ebrd outlook on georgia

Budapest and Warsaw: Marriage of Convenience or Union of Values?

Slowly, Tech Brand Belarus Emerges

belarus tech

Azerbaijan Showcases ICT Potential

BAKU AZERBAIJAN - SEPTEMBER 25: People goes by the seafront of Baku on September 25 2016. Baku is a capital and largest city of Azerbaijan.

Serbia, Belarus and Ukraine Ranked Lowly by Wharton Business School

Kyiv Ukraine - April 172017: The postal square in Kiev on Podol the Dnipro river. view of the square from the river panorama

After Economic Shocks Armenia Plans for Macroeconomic Stability

yerevan armenia minister of finance

Western Ukraine Could Be an Entry Point into the Country

Georgia’s Sweetest Export Targets EU & Japan Expansion

Kiwi fruits growing on the branch on autumn

Ukraine’s Q2 Growth Climbs

kyiv ukraine emerging europe

Romanian Cyber Security Firm Valued at 600 million US dollars in Private Equity Swoop

cyber security

Albania’s Economy Not Benefiting From Largest Oil Reserves in Region

Growth Continues for State-Owned Azerbaijan Airlines

Azerbaijan Baku - September 16 2015: View of the Heydar Aliyev International Airport sign in Baku Azerbaijan. The airport is the home of Azerbaijan Airlines the national flag carrier.

Emerging Europe to Record Positive Growth Across the Board in 2018

coins growth

The Socialism of Central Europe’s Populists

MARSEILLE FRANCE - JUNE 21 2016: People watch football match at Tribunes of Stade Velodrome during UEFA EURO 2016 game Ukraine v Poland

Derek Chollet: There Is a Resurgence of Supporters of the Transatlantic Relationship

white house

Georgian PM Reshapes and Reshuffles Cabinet

Giorgi Kvirikashvili

NATO Opens New Moldova Office

NATO Moldova

China and Central Europe: Don’t Believe the Hype


Deloitte Upsizes Its Emerging Europe Cyber Intelligence Team

Computer security concept. Virus in program code

Bulgaria and Romania Get EBRD SME Boost

Startup Diversity Teamwork Brainstorming Meeting Concept

Prospering Czechia Still Needs a Bigger Workforce

prague emerging europe

Czech Republic Raises Interest Rates

czech koruna

Measure, Strengthen, and Grow

dacia brand

Emerging Europe Makes Some Progress on Closing Gender Gap

world economic forum gender gap report

Slovenia: Emerging Europe’s Hidden Giant

ljubljana slovenia

Poland Set for New Expressways, But Problems on the Roads Remain

poland roads

Belarus’ Economy Is Slowly Recovering From Past Declines

Bulgaria Eyes Azerbaijani Gas Deal

Yellow gas pipes in natural gas treatment plant in bright sunny summer day

ArcelorMittal Kryvyi Rih Gets EBRD Boost

Landscape with two mine head frames . Ukraine, Kryvyi Rih, Iron-ore mine Gvardeiskaya. An autumn sunny day with blue sky. Complex for Mining

CEE Lags in Business Connectivity

ANIS romanian ICT

How Did We Get Here?

Amazing Panorama to City of Plovdiv from nebet tepe hill, Bulgaria

Georgia’s Growth Continues

Batumi, Adjara, Georgia - May 27, 2016: Batumi, Adjara, Georgia. Gogebashvili Street Road And Marine Station Or Maritime Station Building Batumi On Background

Outsourcing Sector Driving CEE Office & Graduate Demand

wroclaw office

CEE Playing Catch Up on R&D Spending

science, r&d

Slovenia Sets Green Vehicle Deadline of 2030


Romania’s PM Resigns

BUCHAREST ROMANIA - June 29 2017: Romanian Prime Minister Mihai Tudose during a swearing-in ceremony at Cotroceni palace in Bucharest capital of Romania June 29 2017.

Poland’s Business Constitution Must Be Finalised

Front of finance ministry in Warsaw Poland with a fountain framing the entrance. Could be used for images about Euro currency problems

Romanian Inflation Hits Four-Year High

supermarket, prices, inflation

Next Christmas in Belgrade? The EU’s Move into the Western Balkans

Belgrade, Serbia, July 22, 2017.Belgrade cityscape at sunset with national assembly, aerial view

Why the Baltic States Should Reject the Nanny State

man smoking a cigarette Cigarette smoking Cigarette with smoke

Baltic States to Launch Combined Capital Market

capital markets

Poland’s Q2 2017 Growth Is Stronger Than Expected

WARSAW, POLAND - MAY 07, 2016: Building Palace of Culture and Science among the modern buildings of the city

UK Economic Growth Slows as Brexit Uncertainty Bites

flags of UK and EU combined over icons of London - Brexit concept

Romania is Haemorrhaging Doctors

Friendly female doctor hands holding patient hand sitting at the desk for encouragement, empathy, cheering and support while medical examination. Bad news lessening, compassion, trust and ethics concept

Czech PM Loses Confidence Vote

andrej Babiš

Bucharest’s Stock Exchange Reports Growth; Eyes Emerging Market Status

bucharest stock exchange

Romanian Transport Infrastructure Failures Pile Up

Cernavoda Romania - June 20 2012: Construction works at the A2 highway connecting Romania's capital Bucharest to Constanta.

More Brexit Fears As the UK Proves To Be A Needed Member

City of London view from Waterloo Bridge. This view includes: St. Paul`s Cathedral The Gherkin Tower 42 and Blackfriars Bridge.

EU Membership and Transition into Market Economies Have Helped CEE Achieve Social Progress

IMF Concludes Latest Moldova Review, Releases New Money

Reflection of a Soviet building in Chisinau Republic of Moldova

Is Prague the New Face of Overtourism?

prague tourists

Effective Policies Have Strengthened the Georgian Economy

TBILISI GEORGIA Jul. 18 2017: Bridge of Peace is a bow-shaped pedestrian bridge a steel and glass construction over the Kura River in downtown Tbilisi capital of Georgia

Why Was Zapad-2017 So Important?

russian tank belarus zapad

Toyota Announces 400 Million Zloty Polish Investment


Czech Election Result Could Delay Euro Adoption Until 2025

czech banknotes nominal value two and five thousand crowns on white background. 300 000 Kc is approximately 12 450 US dollars (USD) or 11 100 Euro (EUR)

Estonia: Europe’s Little Technological Giant

Estonia Leads Baltics in Cutting Sugar in Food and Drink

Poles Still Keen on German Jobs

Brandenburg Gate in Berlin in Germany. The Brandenburg Gate is a triumphal arch a city gate in the center of Berlin. It is one of the most known sites in Berlin.

Emerging Europe Internet Speeds: Could Do Better

3d rendering internet speed meter close up

Polish Government in Climbdown on Social Contribution Hike

Georgia Leads Emerging Europe in Ease of Doing Business Report

Larisa Manastirli: Where is Bulgaria After Ten Years in the EU?

Poland & Ukraine Should Join Outsourcing Forces


Czech Land Prices Continue to Increase

farm land

China Agrees to Build High-Tech Business Park in Serbia

BELGRADE SERBIA - SEPTEMBER 29 2016: View on the city center and the junction of Rivers Sava and Danube in Belgrade Serbia.

CEE Tech Growth Continues: Poland and the Czech Republic Lead the Way


A Risky Evaluation of Croatia’s Economy?

ZAGREB, CROATIA - JULY 17, 2017: Square Ban Josip Jelacic with tourists and trams on a summer day in Zagreb. City of Zagreb is the capital of Croatia.

Lech Wałęsa: Hard Options Can Force Nations to Get Down to Work

World Bank: Brexit Hides Greater Challenges to the European Union and the CEE Region

CEE: Innovate or Get Eaten


Hungary’s Solar Dreamer

hand sun and blue sky with copyspace showing freedom or solar power concept

Skiing in Emerging Europe

gudauri ski georgia

EU Commissioner Launches Veiled Attack on Poland and Hungary

eu commission

Ukraine’s Finance Ministry Wants Urgent Tax Reform

Non-Financial Reporting No Longer a Secondary Consideration in CEE

ICT Given Huge Boost in Belarus

MINSK, BELARUS - AUGUST 15, 2016: Aerial view of the southwestern part of the Minsk with Palace of Sport and old and new other buildings. Minsk is the capital and largest city of Belarus.

China-Georgia FTA Takes Effect

TBILISI GEORGIA - SEPTEMBER 28: Top view of Tbilisi downtown Georgia on September 28 2016. Tbilisi is a capital and largest city of Georgia.

Hungary Seen as Riskiest Country in CEE


TV Still a Star for CME

Romania Can Still Provide Stability Within the EU

BUCHAREST, ROMANIA - 05 February 2017: More than 240,000 protesters in Victory Square (Piata Victoriei). "Torches" moment. At 09:00PM Romanian protesters shone torches on their phones.

IMF: Institutions Key to Sustainable Growth


Romania’s Budget Deficit ‘Should Start Alarm Bells Ringing’

BUCHAREST ROMANIA - June 29 2017: Romanian Prime Minister Mihai Tudose during a swearing-in ceremony at Cotroceni palace in Bucharest capital of Romania June 29 2017.

Belarus Refinery Boss Upbeat Despite Challenges

oil refinery

Romanian President Appoints Country’s First Female PM

viorica dancila prime minister of romania

Lithuania Wants to Bring Home its Skilled Workers

VILNIUS - FEBRUARY 25: Many people choose books at the indoor book

EconMin: Bulgaria — Number One Outsourcing Destination And an Island of Stability in Europe

Ukraine’s Economic Recovery: Good, But Slow

ukraine money

IMF Increases Growth Forecast With Emerging Europe Prominent

Dambovita river and center of Bucharest at sunset time Romania.

Doing Business Across Eurasia Could Be Easier

Eurasia emerging europe schneider group

Fitch And the World Bank: Economic Growth To Remain Solid Within CEE In 2016

High Real Estate Prices at Home Force Czech Investors Abroad

Construction of the Petrin lookout tower in Prague Czech Republic

Montenegro Accelerates Legal Reform

montenegro law reform

ICT Growth Continues to Boost Bosnian Economy

ict, it

Belarus Foreign Minister Hails Success of Visa-Free Travel Programme

Great noble deer surrounded by herd.Portrait of a deer, while looking at you.Adult deer with big beautiful horns on snowy field on forest background.

Lithuania Gives Innovation a StartUp

MILAN ITALY - MAY 2: People visit Lithuania pavilion at Expo universal exposition on the theme of food on MAY 2 2015 in Milan.

Sarajevo Stock Exchange Connected to SEE Link

sarajevo stock exchange

Bulgaria Keen on Euro Adoption

FRANKFURT GERMANY - MAY 16 2014: Euro Sign. European Central Bank (ECB) is the central bank for the euro and administers the monetary policy of the Eurozone in Frankfurt Germany.

Belarus Introduces New Business-Friendly Auditing Procedures

MINSK, BELARUS - AUGUST 15, 2016: Aerial view of the southwestern part of the Minsk with Palace of Sport and old and new other buildings. Minsk is the capital and largest city of Belarus.

Growth Increase Offers Glimmer of Hope for Moldova


Investors Eye Opportunities in Emerging European Infrastructure


Automotive and Transport Companies Dominate the CEE Region

Car bodies on the production line inside automobile factory

New Start-Up and Innovation Report Names Estonia and Slovenia as Market Leaders

Tallin, Estonia - July 06,2017: Scenic view of the modern part of the city of Tallin, Estonia

Chickens Blamed for Romanian Budget Deficit

Two white chickens or hens inside a chicken coop or hen house seen through chicken wire.

EBRD Transition Report Highlights Financial Sector Resilience


Women, to Tractors!

Tug of war contest between boys and girls. Two groups of children of different sex pulling opposite ends of rope. Concept of gender equality among kids, team sports. Vector illustration for banner

Assaults on the Judiciary: How CEE Governments Are Trying to Restrict Judicial Independence, and Why It’s Not Working… For Now

poland romania justice system

Poland’s New PM Defends Attacks on Justice System

warsaw supreme court

Investors in Poland Unfazed By Article 7

Warsaw EBRD annual meeting

Erste Group: Public Debt Falling Across CEE

erste group

Leave a Reply

Your email address will not be published. Required fields are marked *