How to promote a positive investment climate in South-Eastern Europe explored at expert seminar organized by OSCE and SECI in Vienna

Representatives from the private sector, chambers of commerce, and business associations from South-East European countries stressed the importance of attracting foreign investment as a crucial factor for stability in low and middle-income economies as a two-day workshop, organized by the OSCE and the Southeast European Cooperation Initiative (SECI), concluded on 15 November 2019 in Vienna.

During the seminar, participants discussed the perspectives of the private sector and obstacles faced while conducting business in South-Eastern Europe. Experts from different international and regional organizations also highlighted economic governance issues that are integral to a healthy investment climate such as legal and regulatory frameworks, and integrity and transparency, among others.

“A public sector based on integrity, openness, transparency and accountability is a major factor that enables sustainable economic growth and the strengthening of the investment and business climate in line with the Berlin Process in the region, contributing to security and stability in South-East Europe’’, said Deputy Co-ordinator of the OSCE Economic and Environmental Activities, Ermelinda Meksi.

Executive Co-ordinator of SECI, Michael Fazekas, said: ”The promotion of a positive business and investment climate in South-East Europe requires an efficient fight against corruption, which is not only a prerequisite for the stability of democratic societies and the rule of law, but also for a sustainable economic development of the countries of the region.”

The workshop concluded with a set of recommendations and examples of good practices for the private sector, business associations, and international and regional organizations to consider in promoting a positive investment climate in the region.