Investment Policy Review of South-East Europe

The Investment Policy Review (IPR) of South-East Europe (SEE) is the first regional IPR undertaken by UNCTAD. It covers seven economies: Albania, Bosnia and Herzegovina, Montenegro, the Republic of Moldova,* Serbia, the Former Yugoslav Republic of Macedonia and Kosovo.**

The IPR analyses, based on the UNCTAD Investment Policy Framework for Sustainable Development (IPFSD), key features of the national and international policy environment affecting investment, including entry, treatment and protection, procedures to establish a business, fiscal policy and investment incentives, labour market and skills, competition regime as well as regional investment promotion initiatives. For each area, a set of concrete recommendations to improve the investment environment and foster impact is provided.

The review emphasizes regional cooperation in pursuing improved investment policy and promotion practices to achieve a joint strategic goal: attract increased levels of investment that contribute to the social and economic development of SEE economies, in line with the objectives set in the SEE 2020 Strategy.

This regional IPR represents a practical contribution to achieving this objective and further strengthening the ties of cooperation and interdependence within the region. It also complements parallel regional mechanisms, namely the "Berlin Process" that addresses infrastructure and economic cooperation.

Through the efforts of the Regional Cooperation Council Secretariat, CEFTA Secretariat and UNCTAD, this IPR has already brought the economies of the region into closer collaboration with each other.

The recommendations of this report will inform the Regional Investment Policy and Promotion Programme, which will address the priorities of the regional investment reform agenda, aiming at regional harmonization of investment policies with a view to increase transparency, attract higher investment and allow SEE economies to move towards EU standards and regulations.

The follow-up programme will be implemented under the auspices of the RCC Secretariat, with technical support of the World Bank Group / IFC, financial support of the European Commission, and in close cooperation with the CEFTA and UNCTAD.

(*) As a participant to the SEE Investment Committee's Working Group on Investments and Central European Free Trade Agreement (CEFTA) Signatory, at the request of the CEFTA and Regional Cooperation Council Secretariats, the Republic of Moldova is also included in the regional study, even though it is not directly encompassed by the SEE 2020 Strategy.

(**) United Nations Administrative Region, Security Council resolution 1244 (1999).

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