SESSION 9: Closing Session
Business Environment Reform in SEE: Progress and ChallengesSESSION 9: Closing Session
Discussion Summary – Vladimir G. Kreačić, World Bank (retired)
Business enabling environment (BEE) reforms in South East Europe (SEE) are already producing visible results. All of the counties in the region have, over the past several years, initiated reforms of at least two three areas affecting start-up, operation and closure of privately owned firms. In most cases these reforms were ad-hoc, focusing initially on eliminating inherited entry barriers and slowly spreading to other more complex areas, such as labor regulation, protection of investor rights, cadastre and bankruptcy. BEE reforms in the region are accelerating, in part as a reaction to continuous flow of information about the success of partial BEE reforms undertaken by the reform leaders in region. These reforms have been recognized in the World Bank’s Doing Business Reports, starting in 2006. Serbia was declared the “top reformer” in 2006, Croatia ranked among the “Top 10” reformers in 2007 and 2008, and Macedonia, and Bulgaria and Romania ranked among the 2008 “Top 10” reformers – placing them ahead of several new EU10 countries (as well as several “old” EU members) in the rankings. This trend is putting positive pressure on the governments in the region to accelerate BEE reforms and to increase their competitiveness for domestic and foreign investment. (read full text)
Closing remarks
Pierre Guislain, Director, IFC/World Bank