Invigorating RIRA Policy Dialogue between the government, the private sector and the civil society
WHY is regional economic integration of the Western Balkans 6 important?
- To facilitate investors’ entry and establishment, as well as the process of doing business in the region
- To expand across the region into new markets and reap the economies of scale of 20 million potential consumers
- To better integrate into European and global value chains
- To refocus growth towards human capital upgrades, innovation and digitisation
- To make the region more attractive on the global investment map
- To make goods and services from the region more competitive on the global market
- To boost the readiness to join the EU
- To promote institutional cooperation to tackle issues of common interest
- To enable the unobstructed flow of goods, services, capital and skilled labour
- To help accelerate the economic convergence with the EU by increasing economic growth, job creation, prosperity, stability and overall quality of life
HOW to do it?
By creating a Western Balkan 6 Regional Economic Area (REA) based on 4 pillars:
- Labour mobility
- Digital integration
RIRA – Regional Investment Reform Agenda
WHY do we need it?
- To ensure transparent and fair competition among the economies by mitigating a “race to the bottom”.
- To improve the attractiveness of the region for foreign and intra-regional businesses
- To facilitate higher inflow of investments and generate higher entrepreneurial activity, trade and ultimately jobs
- To align the legal frameworks for investment with EU and international best practices
HOW can it be done?
- Identify the issues that hinder investments into and throughout the Western Balkans
- Develop a reform agenda to overcome the regional investment barriers, tailor-made for each economy
- Track and monitor the progress in the implementation of the reform commitments
- Engage with the business associations, chambers of commerce and businesses interested in cross-border investments
- Develop a regional investment promotion initiative
- Streamline incentives and improve their transparency and governance