Investment Compact in see.market magazine

See.market magazine (www.see-market.com) looks at the work of the Investment Compact in its Spring 2008 issue. In an article entitled 'South East Europe: High Growth Region', the magazine highlights the clarity of the Investment Compact's mandate for regional economic development and stresses the support the Investment Reform Index provides to investors.

"The role of international bodies working in South East Europe has been of great importance for the region’s rise over the past decade, though increasingly their assistance is being transferred to an advisory role as ownership of projects is rooting. Of the international bodies operating in the region, the Organisation of Economic Cooperation and Development’s (OECD) Investment Compact for South East Europe has one of the clearest mandates specific to regional economic development. The Investment Compact monitors and evaluates regional investment reform, supports the implementation of this reform, facilitates public/private dialogue through the private sector's advisory role in its activities,and engages high-level political support towards the aim of its work.
In publishing the Investment Reform Index, which looks at eight major indices for each country in SEE, the Investment Compact uses data collected by its own team, supplemented by input from local consultants, the country economic team and private sector, along with direct consultation and feedback from SEE governments, to identify the key priorities in plicy reform. Following up on these suggestions, working tables have been established to create ‘how-to’ reform guidelines and assist governments in implementing them. The study looks at investment policy, investment promotion and facilitation, tax policy, anti-corruption and business integrity, competition policy, trade policy, regulatory reform, and human capital and employment, though as well collaborating with EU bodies to investigate corporate governance and SME policy. In practice, for example, this has helped countries gauge their laws on foreign ownership of companies and property, while assisting investors in their analysis of tax and trade policy."

Full article: South East Europe: High Growth Region, see.market, Spring 2008

In an interview of Erhard Busek published in the same issue, the Special Co-ordinator of the Stability Pact for South Eastern Europe discuses the relationship between the Investment Compact and CEFTA and stresses their complementarity.

"One particular initiative that really complements CEFTA is the Investment Compact for SEE. This is currently managed by the OECD and provides a framework for the SEE countries to assess and compare their investment policies against best international practice and each other. It then provides assistance to improve policy implementation. In line with the overall move towards greater regional ownership of initiatives, the Investment Compact has established the SEE Investment Committee, comprising all SEE countries and UNMIK/Kosovo. This Committee mirrors that of the OECD Investment Committee and provides an excellent forum for co-operation on improving the region’s attractiveness to foreign investors. The SEE Investment Committee and the CEFTA Joint Committee are committed to close co-operation."

Full interview: CEFTA and Beyond, see.market, Spring 2008