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BSEC BUSINESS COUNCIL

BSEC BUSINESS COUNCIL. INVESTING IN THE BLACK SEA REGION Dr. Costas Masmanidis Secretary General. What is BSEC ?. BLACK SEA ECONOMIC COOPERATION. What is BSEC ?. BLACK SEA ECONOMIC COOPERATION Economic Cooperation Organization Created in 1992 12 countries. What is BSEC ?.

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BSEC BUSINESS COUNCIL

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

  2. What is BSEC ? BLACK SEA ECONOMIC COOPERATION

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

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

  5. The Black Sea Region

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

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

  8. BSEC BUSINESS COUNCIL

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

  10. BSEC BUSINESS COUNCIL Strategic Directions • Promoting Regional Development

  11. BSEC BUSINESS COUNCIL Strategic Directions • Promoting Regional Development • Promoting Business Cooperation

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

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

  14. 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

  15. 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

  16. Invest in the Black Sea Region !

  17. Why should you invest ? .

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

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

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

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

  22. 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

  23. 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

  24. 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

  25. 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

  26. Regional challenges .

  27. Regional challenges • Bureaucracy

  28. Regional challenges • Bureaucracy • Corruption

  29. Regional challenges • Bureaucracy • Corruption • Slow implementation of reforms

  30. Regional challenges But… Continuous improvement !

  31. Regional challenges • Bureaucracy • Corruption • Slow implementation of reforms • Frozen conflicts

  32. 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!)

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

  34. FDI inflows in BSEC Rush in FDI since 2002

  35. 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

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

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

  38. 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.

  39. 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)

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

  41. BSEC BUSINESS COUNCIL Thank you !

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