Competitiveness of the Western Balkan Countries in Attracting FDI

Marjanović, Darko and Domazet, Ivana (2021) Competitiveness of the Western Balkan Countries in Attracting FDI. In: XI International Symposium Engineering Management and Competitiveness (EMC 2021). Technical Faculty "Mihajlo Pupin", Zrenjanin, pp. 235-240. ISBN 978-86-7672-345-4

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Abstract

The competitiveness of the economy represents the degree of success of its positioning within global business flows. One of the key factors in increasing competitiveness, and consequently productivity in the business environment, is the inflow of foreign direct investment. A precondition for the inflow of foreign direct investments, which bring with them new technologies and knowledge, as well as the possibility of easier access to foreign markets, is certainly the growth of competitiveness. Foreign direct investment is one of the important factors of sustainable economic development and increasing the competitiveness of each country. The main goal of this paper is to analyze the inflow of foreign direct investment in the Western Balkans and to point out the activities that have led to certain countries attracting more foreign direct investment (per capita) than others in the Western Balkans. The methodology used was based on a quantitative approach, while secondary UNCTAD database data for the period 2010-2019 were used in the analysis. The results indicate that the competitiveness of the Serbian economy, compared to other economies in the Western Balkans, is at a very high level. The countries of the Western Balkans in the coming period, with their overall policy, ensure an environment in which there are stable conditions for smooth and profitable operations will attract foreign direct investment faster and easier than those countries where the investment environment is not sufficiently stable and favorable.

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