BSEC BUSINESS COUNCIL INVESTING IN THE BLACK SEA REGION

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Presentation transcript:

BSEC BUSINESS COUNCIL INVESTING IN THE BLACK SEA REGION Dr. Costas Masmanidis Secretary General

BLACK SEA ECONOMIC COOPERATION What is BSEC ? BLACK SEA ECONOMIC COOPERATION

BLACK SEA ECONOMIC COOPERATION What is BSEC ? BLACK SEA ECONOMIC COOPERATION Economic Cooperation Organization Created in 1992 12 countries

What is BSEC ? Albania Armenia Azerbaijan Bulgaria Georgia Greece BLACK SEA ECONOMIC COOPERATION Economic Cooperation Organization Created in 1992 12 countries Albania Armenia Azerbaijan Bulgaria Georgia Greece Moldova Romania Russia Serbia Turkey Ukraine

The Black Sea Region

The BSEC Structure Council of Ministers of Foreign Affairs Secretariat (Istanbul) ca 20 Working Groups, eg: Energy Transport Environment etc 4 Related Bodies

BSEC Related Bodies Business Council Istanbul BS Trade & Dev. Bank Thessaloniki Parliamentary Cooperation Istanbul Academic Cooperation Athens

BSEC BUSINESS COUNCIL

Our Strategic Directions (reflecting the needs of our SMEs) BSEC BUSINESS COUNCIL Our Strategic Directions (reflecting the needs of our SMEs)

Strategic Directions BSEC BUSINESS COUNCIL Promoting Regional Development

Strategic Directions BSEC BUSINESS COUNCIL Promoting Regional Development Promoting Business Cooperation

Strategic Directions BSEC BUSINESS COUNCIL Promoting Regional Development Promoting Business Cooperation Disseminating Business Information

Strategic Directions BSEC BUSINESS COUNCIL Promoting Regional Development Promoting Business Cooperation Disseminating Business Information Helping SMEs Gain Competitiveness

BSEC BUSINESS COUNCIL Strategic Directions Promoting Regional Development Promoting Business Cooperation Disseminating Business Information Helping SMEs Gain Competitiveness Helping improve the Business Climate / Eliminate Trade Barriers

BSEC BUSINESS COUNCIL Strategic Directions Promoting Regional Development Promoting Business Cooperation Disseminating Business Information Helping SMEs Gain Competitiveness Improving the Business Climate / Trade barriers Promoting Foreign Investments

Invest in the Black Sea Region !

Why should you invest ? .

Why should you invest ? Regional market of 1/3 billion people

Why should you invest ? Regional market of 1/3 billion people Fast-growing economies

Why should you invest ? Regional market of 1/3 billion people Fast-growing economies Strategic position: Center of Eurasia

Why should you invest ? Regional market of 1/3 billion people Fast-growing economies Strategic position: Center of Eurasia Energy resources & transport routes

Why should you invest ? Regional market of 1/3 billion people Fast-growing economies Strategic position: Center of Eurasia Energy resources & transport routes Great nature, culture: Tourism paradise

Why should you invest ? Regional market of 1/3 billion people Fast-growing economies Strategic position: Center of Eurasia Energy resources & transport routes Great nature, culture: Tourism paradise Science & Technology

Why should you invest ? Regional market of 1/3 billion people Fast-growing economies Strategic position: Center of Eurasia Energy resources & transport routes Great nature, culture: Tourism paradise Science & Technology Competitive operation costs

Why should you invest ? Regional market of 1/3 billion people Fast-growing economies Strategic position: Center of Eurasia Energy resources & transport routes Great nature, culture: Tourism paradise Science & Technology Competitive costs Talented, educated people

Regional challenges .

Regional challenges Bureaucracy

Regional challenges Bureaucracy Corruption

Regional challenges Bureaucracy Corruption Slow implementation of reforms

Continuous improvement ! Regional challenges But… Continuous improvement !

Regional challenges Bureaucracy Corruption Slow implementation of reforms Frozen conflicts

Why is FDI so important in the BSEC region ? Economic benefits Technical Know-how Managerial Know-how Other spill-over effects (eg, new mentalities) Linking of local companies to global supply chains (globalization!)

What kind of FDI can provide maximum benefits in the BSEC region ? Greenfield investments in diverse Sectors

FDI inflows in BSEC Rush in FDI since 2002

FDI inflows in BSEC (in billion USD) 2002 5.7 2003 9.3 2004 18.4 2005 36.5 2006 57.9 2007 58 2008 43.7

Investment profile in BSEC Rush in FDI since 2002 However, a big share is H/C - related (exploration, upstream operations, pipelines etc)

Investments in BSEC More greenfield / downstream investments needed, to help diversify the economies Eg., in the Energy sector: Speciality chemicals Renewable Energy-related investments

Investment promotion in BSEC One of the main strategic directions of the BSEC BUSINESS COUNCIL is the improvement of the business / investment climate and investment promotion.

Investment promotion in BSEC New OECD regional project on investment promotion and sector competitiveness To be launched with the cooperation of the BSEC Business Council (October 20, Tirana)

BLACK SEA BUSINESS GATEWAY BSEC BUSINESS COUNCIL Visit our BLACK SEA BUSINESS GATEWAY www.bsec-business.org

BSEC BUSINESS COUNCIL Thank you !