Launched in April 2009, the Eastern Europe and South Caucasus Competitiveness Initiative is part of the Global Relations, and aims to help create a sound business climate for investment, enhance productivity, support entrepreneurship, develop the private sector, and build knowledge-based economies to render the region more competitive and attractive to foreign investment.
Although the economies of Eastern Europe and the South Caucasus have enjoyed increased foreign direct investment (FDI) since 2002, FDI per capita is still up to 6 times lower than in Central and Eastern Europe, and is concentrated mainly in the energy sector. To boost Eastern Europe and the South Caucasus as an investment destination across sectors, the initiative supports the reform design and prioritisation process to ensure that policies effectively work towards achieving dynamic and sustainable growth through entrepreneurship, diversification, and international and intra-regional trade.
The initiative aims to
To achieve these objectives, the initiative will encourage the exchange of best practices and experiences in policy reforms relevant to improving the business climate, support regional dialogue, and assist governments in developing policies that build a dynamic business environment for local businesses and foreign investors.
The key principles driving the initiative are:
The work programme is structured in 3 stages:
Documents and links
In the media: OECD cites four sectors as tops in investment potential, Kyivpost, 2 February 2012
Capacity building seminar: Implementing SME policy tools, Trento, 25-28 October 2011
Ministerial Conference on Enterprise and Competitiveness Policies, Prague, 15-17 June 2011
Investment strategies in times of economic crisis and beyond, Bodrum, 3 July 2009
First meeting of the Working Group on Financial Market Development, Warsaw, 17 November 2009
Investment Strategies in Times of Economic Crisis and Beyond, Bodrum, 3 July 2009
Launch of the South Caucasus and Ukraine Initiative for Investment and Competitiveness, Paris, 1 April 2009