Tirana, Albania, November 17, 2009—IFC,
a member of the World Bank Group, is partnering with Albania’s Ministry
for Economy Trade and Energy to host a two-day conference in Tirana to
promote business environment reform in Southeast Europe.
The event, running from November 17
to November 18, will bring together key policymakers, representatives of
the private sector and academics from across the region to discuss the
progress and challenges of related reforms.
According to the World Bank Group’s
2010 Doing Business report, the economies of southeast Europe are
among the fastest reforming in the world. Still, more remains to be done
and the conference will focus on business environment reform in light of
the current financial crisis.
“Albania is pleased to host such an
important regional event, and we thank IFC for supporting us in creating
better conditions for doing business,” said Dritan Prifti, Albanian Minister
for Economy Trade and Energy. “Improving the business environment by simplifying
administrative procedures and providing better services will help reduce
the cost of doing business in Albania and attract more foreign investment
to our country.”
At the conference, government and private
sector representatives from the region will discuss initiatives to improve
the business environment and increase the competitiveness of companies
with academics and World Bank Group representatives.
“The global financial crisis has highlighted
the need for IFC’s advisory services in business environment reform, as
competition for foreign investment becomes tougher,” said Giovanni Danielle,
IFC Resident Representative in Southeast Europe. “Improving the quality
and effectiveness of regulations leads to a better business environment.”
IFC is supporting governments in the
region to improve the business environment by promoting reforms on the
national and sub-national levels.
IFC is the only international financial
institution focused exclusively on the private sector, the engine of sustainable
development in emerging markets. Along with IBRD, it is currently
seeking a capital increase to strengthen its ability to create opportunity
for the poor in developing countries.
IFC, a member of the World Bank Group,
creates opportunity for people to escape poverty and improve their lives.
We foster sustainable economic growth in developing countries by supporting
private sector development, mobilizing private capital, and providing advisory
and risk mitigation services to businesses and governments. Our new investments
totaled $14.5 billion in fiscal 2009, helping channel capital into developing
countries during the financial crisis. For more information, visit www.ifc.org.