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Heads of government from the six Western Balkan countries take part -
Foreign direct investment priorities include regional interconnection in transport, energy and digital. -
All countries plan to develop the production of renewable energies
The European Bank for Reconstruction and Development (EBRD) today welcomed the heads of government of Albania, Bosnia Herzegovina, Kosovo, Montenegro, North Macedonia And Serbia to his Western Balkans Investment Summit 2022.
The opening speeches and interactive panel of prime ministers can be viewed online.
The event was opened by The President of the EBRD, Odile Renaud BassoWHO highlighted in his speech that regional cooperation is vital for the economic prospects and political stability of the Western Balkans.
“The EBRD has been a strong advocate of such cooperation,” she said, adding that the Bank has invested more than €15 billion in the region to date and continues to invest more than a billion euros each year.
In his speech, the European Commissioner for Neighborhood and Enlargement, Olivér Várhelyi, highlighted the European Unionplans to increase economic support for the region in the coming years to reach 30 billion euros.
Implemented in partnership with the EBRD and other institutional and private investors, this financing aims to accelerate the region’s social and economic convergence with the EU and is expected to increase its gross domestic product by 3.6 percent.
“Europe does not stop in Zagreb or Budapest,” said Mr Várhelyi. “The Western Balkans naturally also have their place here.”
In their speeches and responses to investors’ questions, government leaders (speaking in alphabetical order using the Gymnich formula) summarized their investment priorities.
For Serbian Prime Minister Anna Brnabic, these priorities included the connectivity program, energy stability and diversification as well as environmental protection. She also highlighted three priority projects: the Sarajevo-Belgrade highway, the “peace highway” linking Nis, Pristina, Tirana and Durres, and the gas interconnection between Serbia and Bulgariawhich will ultimately be connected to a liquefied natural gas (LNG) terminal at Greece.
For Prime Minister Dimitar Kovacevski of North Macedonia, the priorities began with vocational and vocational training and job creation. Priority projects included Corridor VIII, an electrical interconnection with Albania and digital connectivity. A project to connect the country to the LNG terminal in Greece is also under study.
The Prime Minister of Montenegro, Zdravko Krivokapic, highlighted his country’s progress in governance, particularly in terms of transparency of public spending. Investments in healthcare and education have been cited as important factors in encouraging young people not to emigrate. He proposed that future highway projects would not only connect countries in the region, but also improve access to Italy And Türkiye.
Prime Minister Albin Kurti has drawn the attention of foreign investors to Kosovo’s young and educated workforce, many of whom are fluent in English and German, its vibrant IT sector and the recent creation of a the Commercial Court. Kosovo is to build new electricity generation and phase out coal, and plans to launch a joint electricity exchange with Albania this year.
Albanian Prime Minister Edi Rama highlighted the importance and potential of the tourism sector for his country, which is building four new seaports and two new airports to develop tourism. Albania, which gets almost all of its electricity from hydroelectricity, must also diversify its energy sources.
Prime Minister Zoran Tegeltija highlighted the importance of investors already familiar with Bosnia and Herzegovina, such as the EBRD, who promote the country’s openness to foreign investment and its commitment to a stable investment climate, peace and economic development. Regional interconnection, including a road between Banja Luka and Doboj and a rail link with Serbia, is crucial.
All leaders spoke of plans to expand renewable energy sources, which require a regional energy system to balance the influx of renewable energy into national grids and, in some countries, a change in legislation to allow investments private on a large scale.
Today’s event was the EBRD’s fifth such summit. The inauguration Western Balkans Summitwhich brought together for the first time all the prime ministers of the region, took place at the EBRD headquarters in London in February 2014.
Photographs of the event are available on Flickr.
A video recording is also available on YouTube.
Images and videos are free for media use, but must be attributed to the EBRD.
