NEWS AND EVENTS

A Memorandum of Understanding between ACCOA and the National Centre for Marketing and Price Study of the Ministry of Foreign Affairs of the Republic of Belarus was recently signed. The document, signed by ACCOA’s president Gian Carlo Damir Murkovic and by the Director of the Institute V.E. Sadokho opens a period of collaboration on various fronts, from the sharing of business information and market researches to the organization of conjoined events to promote economic opportunities in both countries.

Fitch improved on Monday the 30th October the forecast for Ukraine’s economy growth. Despite slower than fellow B-rated peers, Ukraine is expected to growth by 3.2% in 2018 and 3.7% in 2019, a change of 0.2%. Inflation, though, will likely remain higher (12.8%) than the target imposed by the National Bank of Ukraine (NBU) that is around 8%. However, according to the institute, it will slowly decrease, reaching a median of 7.8% in 2019 still way above the 5% target for B-rated countries.

Polish Railways Company (PLK) announced its willingness to increase connections toward the ports of Gdansk, Gdynia, Szczecin e Swinoujsci by 2020. Total value of the investment is estimated to be around 900mln EUR and procurement contracts are already signed and lodged.  The investors and PLK wish the improvement and strengthening of rail traffic enhances the efficiency and the security of the intermodal transport in the area connecting the Baltic Sea to the Adriatic Sea.

According to World Bank Serbia is the leader in South-East Europe in terms of implemented reforms to attract foreign investments. The news that Serbia was declared the best country from the area in investment-related reforms came from the Investment Competitiveness Forum in Vienna, which is organized by the World Bank and saw the participation of the State Secretary of the Ministry of Economy Milun Trivunac that, after the news was broken, listed the still necessary steps his country needs to take to improve the economic landscape. Among others, a new industrial policy, facilitating a faster growth of start-up companies, increasing the export and proposing new measures to resolve the problems of companies that are losing a lot of money.

Estonia is still working on the national cryptocurrency. After presenting the new E-Residency system, the Baltic country is moving towards consolidating its status as digital pioneer if the virtual currency is released in the following months. Thought as a mean to foster foreign investments in the country, EstCoin will be financed and funded via an Initial Coin Offering (government-regulated process that will allow investors and buyer to fund the cryptocurrency). The funds will be administered by a trust whose main concern will be improving and developing Estonia’s digital capabilities. However, EstCoin has been criticized by European Bank President Mario Draghi that has stressed how cryptocurrencies’ proliferation could pose a threat to the Euro, in breach with European Treaties.

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