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Investment Reform Index 2010

Monitoring Policies and Institutions for Direct Investment in South-East Europe

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Using an innovative methodology, the Investment Reform Index 2010 (IRI 2010) monitors investment-related policy reforms in the economies of South-East Europe and compares these to best practices in the OECD area. Based on inputs from governments, the private sector, independent experts and multilateral organisations active in the region, the IRI 2010 assesses policies and institutional settings in eight fields of policy critical to domestic and foreign investors. These are: investment policy and promotion; human capital development; trade policy and facilitation; access to finance; regulatory reform and parliamentary processes; infrastructure for investment; tax policy analysis; and SME policy. For the economies examined, the IRI 2010 provides an independent and rigorous assessment of investment-related policy settings and reform against international good practice, guidance for policy reform and development and an evidence base with which to facilitate prioritisation of donor activities supporting investment and growth.

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Foreword

Increasing the volume and quality of private investment is critical to the economies of South-East Europe. Despite a recent record of positive and in some cases rapid economic growth, levels of private investment need to rise. As transition proceeds and privatisation processes conclude, the opportunities for attracting significant new privatisation-driven foreign direct investment will diminish. Higher volumes of foreign investment are now needed in greenfield projects, particularly in export-oriented activities. Increasing domestic private and foreign investment will help to raise output and productivity in South-East Europe, which are critical to employment creation, sustainable trade balances, improved government finances and ultimately to addressing the region’s pressing social problems. The global financial and economic crisis, which hit the region severely during the preparation of this study, has further underlined the importance of achieving more and better private sector investment.

English

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