Emerging Europe publishes its first Investment Promotion Report
Invest Lithuania, emerging Europe’s best investment promotion agency (IPA) scored just 65.55 out of a possible 100 across the region demonstrating how much more work needs to be done to serve foreign investors better.
“When emerging Europe politicians travel abroad they always have the same message: our country is open for business,” said Emerging Europe‘s head of content strategy and publishing Andrew Wrobel, presenting preliminary findings of the report at the inaugural edition of the Emerging Europe Awards, held on June 22 at the European Bank for Reconstruction and Development (EBRD) in London.
“Unfortunately, our research has shown that the reality is somewhat different. While we are happy to recognise the achievement of this year’s highest-rated IPAs — including Invest Lithuania, which did very well at communications but could do better at enquiry handling — all countries in the region need to do much more,” he added.
Emerging Europe’s research looked primarily at how IPAs communicate and handle enquiries. In a number of cases, contacting an IPA as a potential investor proved impossible. Under half — 48 per cent — responded to enquiries, usually offering generic information. Not one offered to set up a meeting with their UK representative.
The communications component of the research was carried out in February and March 2018, when most macroeconomic data for 2017 was available. Yet only 13 per cent of IPAs had data fresher than 12 months. Only 26 per cent of them had relevant information about key sectors. Not a single agency provided information about the labour market and available talent.
Click here to access the Emerging Europe Investment Promotion report.