SEE Programme Overview [f]_Layout 1 13/06/2012 10:13 Page A

INVESTMENT COMPACT FOR

SOUTH EAST EUROPE Fostering investment, competitiveness and private sector development

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B . © OECD 2012 SEE PROGRAMME OVERVIEW

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Contents The Investment Compact for South East Europe and the OECD

2

The Organisation for Economic Co-operation and Development

3

Messages from the OECD Secretary-General and the Secretary General of RCC

4

The Economies of South East Europe: Key facts and figures

6

A decade of reform has improved the business climate

7

However, important economic development challenges remain

9

How the Investment Compact For South East Europe supports the SEE Region

11

Programme overview and governance

12

Investment Compact projects: Five pillars of work

13

Bibliography of key Investment Compact publications and papers

19

© OECD 2012 SEE PROGRAMME OVERVIEW . 1

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The OECD Investment Compact for South East Europe Launched in 2000, the OECD Investment Compact for South East Europe supports governments of the region to improve their investment climate and foster private sector development. Its members include Albania, Bosnia and Herzegovina, Bulgaria, Croatia, the Former Yugoslav Republic of Macedonia, the Republic of Moldova, Montenegro, Romania and Serbia, with Kosovo* as an observer. Using the OECD methods of policy dialogue and peer learning, the Compact brings together representatives from South East Europe (SEE) governments to exchange good practices and to use OECD tools and instruments in a way that is tailored to the needs of the SEE economies and helps them move closer to internationally recognised standards. The compact also conducts assessments of SEE investment climates based on the OECD Policy Framework for Investment, designs strategies to help governments set priorities for reform, and supports their implementation. The programme’s work is co-ordinated by the SEE Investment Committee and its strategic objectives and actions are endorsed by SEE leaders at ministerial conferences. The Investment Compact for SEE has now become a template for other regional initiatives, such as the Middle East and North Africa (MENA) Investment Programme and the Eurasia Competitiveness Programme. As of January 2012, the SEE Investment Committee is co-chaired by the Regional Cooperation Council. However, the OECD Investment Compact continues to provide support in enhancing the region’s competitiveness and investment climate, in particular for the implementation of the SEE 2020 Vision.

* This designation is without prejudice to positions on status, and is in line with UNSCR 1244 and the ICJ Opinion on the Kosovo declaration of independence. 2 . © OECD 2012 SEE PROGRAMME OVERVIEW

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The Organisation for Economic Co-operation and Development The OECD is a multi-disciplinary inter-governmental organisation of 34 member countries based in Paris which engages an increasing number of other countries and economies from all regions of the world. The Organisation’s core mission is to help governments make better policies for better lives. Through its network of 250 specialised committees and working groups, the OECD provides a setting where governments compare policy experiences, seek answers to common problems, identify good practice, and co-ordinate policies. The Organisation’s work begins with data collection, policy analysis and benchmarking, then moves on to a collective discussion of policy experiences followed by the identification of good practices, setting of global standards and mutual peer review.

© OECD 2012 SEE PROGRAMME OVERVIEW . 3

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A message from the OECD Secretary-General The Investment Compact was created to support peace, stability and prosperity in a region weakened by conflict but endowed with rich resources and dynamism. The Compact’s mandate, signed in 2000 by nine South East European governments, recognised private sector development and international co-operation as cornerstones for the revitalisation of the region. Since then, governments, business leaders and civil society have worked together to design and implement reforms to attract more and better investments and raise living standards. Over the past ten years, the economies of South East Europe have undergone a profound transformation. The region’s GDP has more than doubled, inflows of foreign direct investment have increased tenfold, countries have signed an ambitious regional trade agreement, they have advanced their integration into the world economy and their institutions have become stronger. Yet the region needs to rise to new challenges: with economic growth slowing, public budgets tightening and social pressures mounting, countries must urgently find new and sustainable sources of growth. The Investment Compact’s “2020 Vision for South East Europe”, endorsed by SEE Ministers, could serve as a leading roadmap to help the region meet this growth challenge by placing innovation, skills and economic integration at the centre of its strategy for the future. Over the next ten years, the Compact will support countries of the region to put this ambitious strategy into practice. I would like to congratulate the Investment Compact on its achievements in supporting reforms in the region and thank South East Europe governments and programme donors for their commitment to working hand in hand with the OECD towards common goals. We are pleased to continue this rewarding partnership in the coming years. Angel Gurría OECD Secretary-General

4 . © OECD 2012 SEE PROGRAMME OVERVIEW

“I would like to congratulate the Investment Compact on its achievements in supporting reforms in the region... “

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A message from the Secretary General of the Regional Cooperation Council The OECD Investment Compact for South East Europe has been instrumental in supporting economic stability and development in our region. Its valuable analytical and policy work has provided insights which have helped shape the reform agenda throughout South East Europe. The Compact’s inclusive approach and the high level involvement of South East European countries have contributed to a growing sense of ownership and responsibility by the region. The fact that the Regional Cooperation Council has taken over the South East Europe Investment Committee from the OECD testifies to the RCC Secretariat's proven capacity to make a substantial contribution to the enhancement of regional cooperation in SEE. New economic and political realities in the region led to a decision by the OECD and SEE countries in 2011 that the time had come to transfer SEE Investment Committee activities to regional leadership. The European Commission has also acknowledged the importance of this action for the region and its support to the future Investment Committee's work is of particular value. The RCC Secretariat is fully committed, by embedding the emerging SEE 2020 vision in its activities, to continue working closely with SEE and OECD colleagues to guarantee an even more stable and results-oriented South East Europe Investment Committee. Mr. Hido Biščević Secretary General of the Regional Cooperation Council for the Western Balkans

“The OECD Investment Compact for South East Europe has been instrumental in supporting economic stability and development in our region.”

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The economies of South East Europe: Key facts and figures Population (million)1 in 2010

GDP per head 2010 (Current US$, PPP

GDP growth, % per annum (2006-2008)2

GDP growth, % per annum (2009-2011)2

Current Credit Ratings (March 2012)3

Albania

3.2

7,741

6.3

2.9

B+

Bosnia and Herzegovina

3.8

8,133

6.0

-0.2

B

Bulgaria

7.5

13,597

6.4

-1.1

BBB

Croatia

4.4

18,192

4.1

-2.4

BBB-

Kosovo*

1.8

7,0023

5.5

3.9

N.A

The former Yugoslav Republic of Macedonia

2.1

10,367

5.4

1.3

BB

Republic of Moldova

3.6

3,373

5.2

2.5

N.A

Montenegro

0.6

11,545

8.7

-0.3

BB

21.4

12,476

7.2

-1.9

BB+

7.3

10,642

4.3

-0.2

BB

55.7

10,307

5.9

0.5

Economy

Romania Serbia

SEE

1. WB World Development Indicators, 2. IMF World Economic Outlook, 3. Standard & Poor’s

* This designation is without prejudice to positions on status, and is in line with UNSCR 1244 and the ICJ Opinion on the Kosovo declaration of independence. 6 . © OECD 2012 SEE PROGRAMME OVERVIEW

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A decade of reform has improved the business climate in SEE Over the past ten years, SEE economies have made significant and targeted economic policy reforms to promote

the development of the private sector and create a more favourable investment climate. Progress in investment openness All governments in the region have implemented policy measures to increase their openness to international investment, including the removal or reduction of legal restrictions. These policy reforms led to a tenfold increase in SEE Foreign Direct Investment (FDI) inflows between 2000 and 2008. The subsequent downturn has been due to the crisis. Increased support for SMEs and entrepreneurs Programmes and policies, such as efforts to facilitate business start ups, have helped smalland medium-sized enterprises (SMEs) to develop and have encouraged greater entrepreneurship in the region. In most SEE economies, it now takes only one day to obtain a company registration certificate from the time

“We acknowledge the engagement, support and efforts of our international partners, in particular the OECD. Our cooperation benefits the region and the European Union.” European Commissioner Štefan Füle Enlargement and European Neighbourhood Policy European Commission

Commitment to SME Policy In 2009, the Western Balkan economies endorsed the European Small Business Act (SBA) as the main guidance tool for SME policy in the region. The SBA provides a demanding set of guidelines aiming to improve policies that promote entrepreneurship and SME growth. Western Balkan economies have committed to monitoring and reporting back on their progress in implementing the SBA principles with the support of the OECD Investment Compact.

© OECD 2012 SEE PROGRAMME OVERVIEW©. 7 OECD 2012 SEE PROGRAMME OVERVIEW . 7

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of application, for a fee of less than EUR 60. As access to finance remains difficult, international financial institutions together with the OECD Investment Compact are launching large regional initiatives, such as the Western Balkan Enterprise Development and Innovation Facility, aimed at providing significant funds, guarantees and technical assistance to innovative, highgrowth SMEs.

FOREIGN DIRECT INVESTMENT (FDI) TRENDS FDI, net inflows for the SEE Region (BoP, current billion US$) 37.1

37.6

29.7

16.5

15.9 12.7

Intra-regional and multilateral economic convergence SEE economies signed the Central European Trade Agreement (CEFTA) in 2006, which aims to expand trade in goods and services and eliminate trade barriers between SEE economies. SEE economies have also made significant progress in converging towards the European Union (EU) acquis communautaire and becoming members of the WTO. Most economies have either joined the EU or they are now candidates or potential candidates for EU accession. However, different paces in adopting EU standards create new difficulties in the form of non-tariff barriers.

10.3

8.1

4.6 4.3 3.8 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 Source: UNCTADStat

Membership in the European Union, CEFTA and the WTO as of January 2012 European Union

CEFTA 2006

WTO

Albania

Potential Candidate

Party

Member

Bosnia and Herzegovina

Potential Candidate

Party

Negotiations in Progress

Bulgaria

Member

Party

Member

Croatia

Acceding Country

Party

Member

Kosovo*

Potential Candidate

Party

N.A

Candidate

Party

Member

Neighbourhood Policy

Party

Member

Candidate

Party

Negotiations in Progress

Member

Party

Member

Candidate

Party

Negotiations in Progress

The former Yugoslav Republic of Macedonia Republic of Moldova Montenegro Romania Serbia

* This designation is without prejudice to positions on status, and is in line with UNSCR 1244 and the ICJ Opinion on the Kosovo declaration of independence. 8 . © OECD 2012 SEE PROGRAMME OVERVIEW

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However, important economic development challenges remain Structural challenges require accelerated policy reforms to improve competitiveness Structural vulnerabilities and lagging industrial production The recent financial and economic crisis seriously impacted the region. The drop in demand from the EU as the main trading partner was dramatic and exports in 2009 were 21% lower than in 2008. FDI also declined by 50% between 2008 and 2009.1 The crisis brought to light structural vulnerabilities in the Western Balkan economies, such as the consumption-led nature of growth that was driven by an expansionary credit policy.

Yearly Industrial Production (% of 1989 industrial production) 200

OECD

The former Yoguslav Rep. of Macedonia

Croatia

Bulgaria

150

100

50

0 1989 1991 1993 1995 1997 1999 2001 2003 2005 2007 2009 Source: EBRD Transition Reports and OECD.Stat

Current Account in 2009 as a Percentage of GDP

Industrial production in South East Europe has also grown significantly since 2000, but it is still nowhere near its 1990 level.

EU-27 average SEE Economies Serbia

Limited export capacity The region also suffers from an underdeveloped tradable sector due to years of deindustrialisation. This limits the export capacity of the economy, leading to substantial trade and current account deficits and increasing foreign indebtedness. 1. UNCTAD (2011). Nb- these data exclude Kosovo* * This designation is without prejudice to positions on status, and is in line with UNSCR 1244 and the ICJ Opinion on the Kosovo declaration of independence.

Romania Montenegro Moldova FYR Macedonia Croatia Bulgaria Bosnia and Herzegovina Albania -30

-25

-20

-15

-10

-5

0

Source: UNCTADStat

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High unemployment Unemployment rates in many SEE economies remain considerably higher than in the EU countries. It is important to note that even during the boom years, unemployment was stubbornly high. This points to a need to better align education and training with labour market requirements.

13.4 9.5

7.8

10 . © OECD 2012 SEE PROGRAMME OVERVIEW

av SEE era ge

B SR

U RO

MN E

MD A

D MK

KO S

HR

V

L BU

BIH

AL

B

4.6

Source: CIA World Factbook *This designation is without prejudice to positions on status, and is in line with UNSCR 1244 and the ICJ Opinion on the Kosovo declaration of independence.

PISA results for SEE economics compared to OECD average 600 500 400 300 200 100

M Reading

Mathematics

Science

ba ni a Al

on te ne gr o

m Ro

Bu

lg

ar

an

ia

ia

0

Source: OECD PISA 2009 database.

2. World Bank

16.6

ia

average of 16.9% of manufactured goods exports in the European Union, in SEE the levels are significantly lower, ranging from 3.1% in the former Yugoslav Republic of Macedonia to 10.9% in Croatia in 2009.2

20.7

19.5

17.9

rb

■ Whereas high tech exports represent an

29.1

Se

mastery of basic skills in math, reading and science (PISA ranking) shows that scores for all SEE economies are lagging well behind OECD averages.

45.4

43.3

av OEC er D ag e Cr oa tia

■ The OECD’s assessment of 15-year olds

Unemployment rate (% of labour force)

PISA score

Need to transition from low-cost to knowledge-based economy With increasing global competition from emerging economies in Asia, for example, SEE can no longer compete for market shares based on low cost production. If the region is to set a path for long-term growth and prosperity, it will have to build a new economic model based on knowledge-intensive production underpinned by innovation and human capital. Various barometers indicate that the SEE region has the capacity to improve its performance in these areas:

HIGH UNEMPLOYMENT IN THE REGION (2011)

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How the Investment Compact for South East Europe supports the SEE region The Investment Compact for South East Europe helps governments design better policies and implement them more effectively. Strong ownership by the region, open dialogue, and a framework based on OECD best practices have enabled the Compact to have a tangible impact on improving the SEE business climate, strengthening regional co-operation and fostering economic development and stability. The 2011 Ministerial Conference of the Investment Compact endorsed the “South East Europe 2020 Vision”, a roadmap for long-term growth modelled on the Europe 2020 strategy, but adapted to the region’s needs. This sent a strong message that the region is committed to taking ownership of its own destiny with a clear roadmap for reform to 2020. The conference also celebrated a decade of achievements as well as the transfer of operational management of the SEE Investment Committee to the Regional Cooperation Council in Sarajevo. The OECD Investment Compact will continue to provide policy guidance and analytical support to the region and assist governments in implementing the “South East Europe 2020 Vision”. Ministerial Conference: Building a 2020 Vision for South East Europe, November 2011. © OECD/Benjamin Renout

The 2011 Ministerial Conference of the Investment Compact endorsed the “South East Europe 2020 Vision”, a roadmap for long-term growth modelled on the Europe 2020 strategy, but adapted to the region. This sent a strong message that the region is committed to taking ownership of its own destiny with a clear roadmap for reform to 2020.

11

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Programme overview and governance

“The joint efforts of the OECD, the countries of the region and the donor community has made the Investment Compact a model for other regional initiatives.”

The SEE Investment Committee is a high-level forum which oversees the overall implementation of the SEE 2020 vision, a roadmap for sustainably improving the region’s business climate and competitiveness. The Investment Compact for South East Europe provides project management expertise to support the region in achieving these OECD objectives.

Manfred Schekulin Deputy Director General Trade Policy and European Integration Federal Ministry of Economy, Family and Youth of Austria, Chair of the OECD Investment Committee Former co-chair of the Investment Compact

Methods Sharing OECD good practices with the region in the areas of business climate and investment reform Providing independent monitoring of policy reform Fostering regional dialogue and exchange of reform experiences Assisting governments to develop policies that support local businesses and encourage foreign investment Key principles Strong ownership of the participating beneficiaries Voluntary self-evaluation of government policy reforms Active involvement of the private sector Co-ordination with existing donors and other international organisations to avoid overlap

12 . © OECD 2012 SEE PROGRAMME OVERVIEW

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A COMBINATION OF REGIONAL OWNERSHIP AND OECD EXPERTISE ENSURE IMPACT IN SUSTAINABLY IMPROVING THE BUSINESS ENVIRONMENT

SEE INVESTMENT COMMITTEE

INVESTMENT COMPACT FOR

COCHAIRS: REGIONAL COOPERATION COUNCIL + SEE COUNTRY ALBANIA

SOUTH EAST EUROPE

Donor countries

SEE country economic teams

International organisations

INVESTMENT C0MPACT FOR

Private Sector

A regional forum for discussion and decision making

SOUTH EAST EUROPE Analytical support and project mangement

FIVE PILLARS OF WORK

Political support:

Policy dialogue:

Assessment:

Strategy and policy prioritisation:

Assistance and training for implementation:

Ministrerial Conference South East Europe 2020 Vision

Regional Working Groups ■ Innovation ■ Human Capital ■ Investment Promotion ■ Access to Finance ■ Tax

Assessment Reform Index SME Policy Index

Sector-specific Sources of Competitiveness

Regional Competitiveness Initiative

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POLITICAL SUPPORT

Ministerial conferences, meetings of the SEE Investment Committee at the regional level, and endorsement by SEE governments and the EU of the SEE 2020 Vision secures strong political support for the Compact’s mandate over the coming decade. THE SOUTH EAST EUROPE 2020 VISION Inspired by the "Europe 2020" strategy – launched by the EU in 2010 to promote smart, sustainable and inclusive growth in EU member states – the economies of South East Europe endorsed their own "2020 Vision" at the 2011 SEE Ministerial Conference, "Building a 2020 Vision for South East Europe". The SEE 2020 Vision is the product of close collaboration between the Investment Compact and governments of the region. It defines a strategy for the region that focuses on stimulating the key long-term drivers of growth: innovation, skills and trade integration. Pillars of the SEE 2020 Vision: ■ Integrated growth through deeper regional trade and investment linkages and policies that are nondiscriminatory, transparent and predictable ■ Smart growth through the commitment to innovate and compete on value-added rather than on labour costs ■ Sustainable growth through raising the level of private sector competitiveness, entrepreneurship and a commitment to

greener and more energy-efficient development ■ Inclusive growth through skills development, employment creation and inclusive labour market participation ■ Governance for growth by increasing the capacity of public administrations to strengthen the rule of law and reduce

corruption in order to create a business-friendly environment. The SEE 2020 Vision's strong regional dimension in setting targets and developing implementation mechanisms will allow economies to benchmark their progress on each of these pillars. The commitment to regional targets will also send a clear signal of regional ownership: the region is now able to define its own roadmap for future reforms. The Investment Compact looks forward to a second decade of partnership with South East Europe to achieve even greater prosperity for all economies of the region.

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POLICY DIALOGUE

Regional policy working groups allow economies to exchange experiences, conduct peer reviews and develop recommendations to address common policy challenges. Innovation Working Group The Working Group on Innovation provides a platform for the exchange of good practices on issues such as formulating innovation policies, creating voucher schemes, establishing competence and technology centres, launching business plan competitions and fostering Triple Helix partnerships between science, business and local government. Human Capital Working Group Using good international and regional practice as a benchmark, the Working Group provides a platform for exchanging views, peer learning, and developing new ideas on how to face common challenges in skills development. It helps transfer knowledge to the region on how to design and implement skills gap analyses and supports policy makers in devising appropriate policy responses to bridge these gaps Access to Finance Working Group The focus of this Working Group is to find solutions to help SMEs in the region access the financing they need. It examines good practices in developing credit guarantee schemes, credit information sharing schemes and investment readiness programme. It also conducts thorough reviews of the status of bankruptcy legislation in the Western Balkans and provides recommendations on how to best reform the current regime. Taxation Working Group Senior tax policy officials of ministries of finance of the economies participating in the SEE Investment Committee come together in this Working Group to initiate discussions on tax policy, with a focus on issues including tax compliance and tax reform. Investment Promotion Working Group This Working Group provides a framework to discuss investment in different sectors as well as prospects for industry growth. Concrete results have included the creation of a business network and an interactive regional supplier database.

© OECD 2012 SEE PROGRAMME OVERVIEW . 15

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ASSESSMENT

The Programme’s flagship publications and key projects assess national policy frameworks to help governments benchmark their performance in relation to business climate reforms. Investment Reform Index The Investment Reform Index (IRI) is a qualitative assessment of policy settings and institutional conditions that shape the environment for direct investment in the Western Balkan economies. The IRI examines eight policy dimensions: investment policy and promotion, human capital development, trade policy and facilitation, access to finance, regulatory reform and parliamentary processes, tax policy analysis, infrastructure for investment, and SME policy. Drawing on the OECD Policy Framework for Investment, the IRI uses a unique scoring system to measure performance in each business climate dimension and related sub-dimensions. Final scores are attributed with the input of both government and business stakeholders. SEE country partners have welcomed the IRI as an innovative and useful tool to benchmark their systems against international good practice and to identify key areas for reform. The next edition will be published in 2013. Implementing the European Small Business Act in the EU Pre-Accession Region This project aims to improve the business environment for SMEs in the Western Balkans and Turkey by implementing the ten principles of the European Small Business Act and was launched in November 2010. Independent monitoring of the elimination of non-tariff barriers among CEFTA parties Since January 2009, the Investment Compact has supported signatories of the CEFTA to derive the full benefits of CEFTA implementation in two key areas: ■ The CEFTA Aid for Trade project aims to reduce/eliminate non-tariff barriers, particularly those that impact main trade flows. ■ The Supporting CEFTA Structures with the Monitoring and Implementation of Investment-related Clauses of the CEFTA 2006

monitors the investment-related clauses of the 2006 CEFTA agreement. Supporting SME Policy in the Republic of Moldova This project helps the Government of the Republic of Moldova to develop a coherent policy framework for SME sector competitiveness sector and economic growth. In 2011 it released a report on Fostering SME Development: Republic of Moldova, which analysed the main barriers to the development of the SME sector. 16 . © OECD 2012 SEE PROGRAMME OVERVIEW

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STRATEGY AND POLICY PRIORITISATION Strategies identify high-potential sectors which can be further developed to leverage regional competitive advantages and generate growth and employment. Enhancing Sector Competitiveness The OECD Investment Compact for South East Europe has implemented the “Strengthening Sector Specific Sources of Competitiveness in the Western Balkans” project. The project aims to promote FDI and foster economic growth and political stability in the Western Balkans by examining three high-potential sectors and providing policy recommendations on removing barriers to their further development: ■ Intensify regional investment promotion for the West Balkans automotive sector, to raise the visibility of the sector with external investors ■ Improve access to finance through credit guarantee schemes and credit information in order to help the apparel sector

reposition towards higher value-added production ■ Improve human capital development through the introduction of internships in order to build practical skills needed in

the information and communication technology sector These recommendations were transformed into action plans which were implemented by governments and resulted in: ■ a regional network of investment promotion agencies using a common web platform to promote Western Balkan automotive suppliers (http://dev.the-serveur.com/ocde/) ■ capacity building for credit information and credit guarantee schemes ■ transfer of good practices relating to internships

A proposed follow-up project (in 2013) should establish sectoral working groups and pilot projects to continue implementation of these recommendations and at the same time to identify new niche markets where Western Balkans economies can be competitive

© OECD 2012 SEE PROGRAMME OVERVIEW . 17

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IMPLEMENTATION

The Programme provides assistance to SEE governments and policy makers in successfully implementing key policy recommendations. Regional Competitiveness Initiative (RCI): The Regional Competitiveness Initiative, funded by the EU, aims to strengthen the competitiveness of Western Balkan economies by increasing productivity through human capital development and innovation in manufacturing and service firms. The initiative consists of specific pilot projects implemented at the national level. The first four pilot projects were implemented in 2011: ■ Mechanisms to finance business services in support of innovation (voucher schemes) in Montenegro ■ The establishment of a Competence Technology Centre (CTC) in Serbia ■ Assistance to the government in designing its overall policy framework for innovation in the Former Yugoslav Republic of

Macedonia ■ Co-operation with the ‘triple helix’ of research-business-government communities in Bosnia and Herzegovina ■ Launch of a business plan competition in Albania ■ Creation of policy frameworks for innovation in Croatia and Kosovo*

Through these projects, the Investment Compact provides analytical support, policy guidance, capacity building and implementation support to enhance innovation and human capital development. Finally, the RCI also supports regional cooperation and policy dialogue through the regional working group on Innovation and Human Capital Development and the project’s Steering Committee. The RCI is already having impact in the region. Examples include the inclusion of innovation as a major pillar of the new government’s electoral programme in FYR Macedonia, the allocation of funds to an SME voucher scheme by the government of Montenegro, a commitment by the Serbian government to set up competence centres, and broad participation in co-operation between academia, business and local government in Bosnia and Herzegovina, which has led to the launch of new products. * This designation is without prejudice to positions on status, and is in line with UNSCR 1244 and the ICJ Opinion on the Kosovo declaration of independence. 18 . © OECD 2012 SEE PROGRAMME OVERVIEW

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Bibliography of key Investment Compact publications and papers 2011 Republic of Moldova 2011: Fostering SME Development. ‘National treatment restrictions in Parties to the Central European Trade Agreement (CEFTA)’, OECD Journal: General Papers, pp. 21-32. ‘Review of bilateral investment treaties signed by Parties to the Central European

Trade Integration, Industry Concentration and FDI Inflows: The Experience in Central

Implementation of the European Charter

Issues Paper, 2010.

for Small Enterprises in the Western Balkans.

National and Regional Small and Medium Sized Enterprise Policy Linkage in Serbia. 2009 SME Policy Index 2009 - Progress in the Implementation of the European Charter

Journal: General Papers, pp. 33-42.

for Small Enterprises in the Western

agreements: The case of the Central

Balkans, OECD/EC/ETF. Sector Specific Sources of Competitiveness

European Free Trade Agreement (CEFTA)’,

in the Western Balkans:

OECD Journal: General Papers, pp. 9-19.

Recommendations for a Regional

‘Concentration of Manufacturing Industries in CEFTA 2006: Industry

Investment Strategy. Implementing the CEFTA 2006 Agreement:

Profiles’. Draft Paper on Innovation

Reaping the Benefits of Trade and

System Review for the Former Yugoslav

Investment Integration in South East

Republic of Macedonia.

Europe. Policies and Tools for Private Sector

2010

Development - Business Linkages:

Investment Reform Index 2010: Monitoring

Linking Foreign and Domestic Firms to

Policies and Institutions for Direct

Maximise the Benefits of FDI for

Investment in South East Europe.

Employment and Sustainable Growth.

Intellectual Property Rights in the CEFTA 2006 Signatories Parties, OECD/CEFTA Issues Paper, 2010.

SME Policy Index 2007 - Report on the

and South Eastern Europe, OECD/CEFTA

Free Trade Agreement (CEFTA)’, OECD

‘Trade and investment in regional trade

2007

2008

How South East European Countries’ Statistics Measure Foreign Direct Investment. Improving the Process of Economic Reform Legislation in FYR Macedonia, OECD/GTZ. Improving the Process of Economic Reform Legislation in Montenegro, OECD/GTZ . The Impact of FDI on the Restructuring of the Metal Processing Industry in Bosnia and Herzegovina. The Role of Foreign Direct Investment in the Croatian Economy. 2006 Investment Reform Index 2006: Progress in Policy Reforms to Improve the Investment Climate in South East Europe. Foreign Investors Council: Proposals for Improvement of the Investment Climate in Serbia, Belgrade, Serbia and Montenegro.

Innovation in SMEs in the Western Balkans:

How to Improve the Legislation Process in

Findings of Focus Group Meetings held in

Serbia and Bosnia and Herzegovina: The

Western Balkan Countries in November-

Path from Proposing a Law to Enacting it

December 2007, OECD/EC/CEI.

in Parliament. © OECD 2012 SEE PROGRAMME OVERVIEW . 19

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Investment Compact for SEE (2006), Report of Activities.

Foreign Investors Council White Book: Proposals for Improvement of the Investment Climate in Serbia.

2005 Anti-Corruption Measures in South Eastern Europe: Civil Society’s Involvement. The Business Registration Process in South East Europe: A Peer Review. The Employment Impact of FDI: The Experience of South East European Countries, Discussion Paper. Monitoring the Regulatory Governance Reform Priorities in South East European

Investment Compact: Regulatory Governance in South East European Countries: Progress and Challenges.

South East Europe: Enterprise Policy Performance Assessment, OECD/EBRD. Albania: Enterprise Policy Performance Assessment, OECD/EBRD. Bosnia and Herzegovina: Enterprise Policy Performance Assessment, OECD/EBRD.

Regulatory Governance in South East European Countries: Progress and Challenges. The Informal Economy in Albania: Analysis and Policy Recommendations. Progress in Policy Reform in South East Europe: Monitoring Instruments.

Bulgaria: Enterprise Policy Performance Assessment, OECD/EBRD. Croatia: Enterprise Policy Performance Assessment, OECD/EBRD. FYR Macedonia: Enterprise Policy Performance Assessment, OECD/EBRD.

Countries, Implementation Report. Albania: Enterprise Policy Performance Progress in Policy Reform in South East

Assessment, OECD/EBRD.

Moldova: Enterprise Policy Performance Assessment, OECD/EBRD.

Europe: Monitoring Instruments. Montenegro: Enterprise Policy Performance Bosnia and Herzegovina: Enterprise Policy Performance Assessment, OECD/EBRD

2003 South East Europe.

Bulgaria: Enterprise Policy Performance Assessment, OECD/EBRD

Romania: Enterprise Policy Performance Assessment, OECD/EBRD.

‘Competition Law and Policy in South East Europe’, OECD Journal: Competition Law

Croatia: Enterprise Policy Performance

Assessment, OECD/EBRD.

A Survey on the Role of Taxation in FDI in

and Policy, pp. 7-82.

Serbia: Enterprise Policy Performance Assessment, OECD/EBRD.

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KEY CONTACTS:

Mr Alan Paic Head of Programme [email protected] For general enquiries: [email protected] Media contact: Ms Vanessa Vallée Communications Manager [email protected]