Progress in Policy Reforms to Improve the Investment Climate in South East Europe : Investment Reform Index 2006.

South East Europe has great potential as an investment location, but to what extent have governments in the region leveraged their assets with effective policies to attract investment and stimulate growth? The Investment Reform Index (IRI) 2006 report measures where South East European (SEE) countries stand regarding policy reform to improve their investment environment in eight fields: Investment policy; Investment promotion and facilitation; Tax policy; Anti-corruption and business integrity; Competition policy; Trade policy; Regulatory reform; Human capital. The IRI measurement process involved a unique tripartite participatory approach including governments, the private sector and the OECD. According to The Economist, the "methodology is solid and the results revealing". The IRI not only allows SEE countries to measure and communicate progress on policy reforms to improve the business climate, it also enables them to benchmark progress relative to their peers, prioritizes support needs at both the country and regional level, and provides guidance on how to further improve the investment environment. Through the creation in April 2007 of a South East European Investment Committee which aims to develop detailed guidelines on how to implement reforms in priority areas, governments of the region have already started to take action based on the IRI results. The countries assessed in the report are: Albania, Bosnia and Herzegovina, Bulgaria, Croatia, the Former Yugoslav Republic of Macedonia, Moldova, Montenegro, Romania and Serbia. A second IRI evaluation will be conducted and published in 2008.--Publisher's description Table of Contents ABBREVIATIONS ACKNOWLEDGEMENTS EXECUTIVE SUMMARY PART I. INTRODUCTION CHAPTER 1. THE INVESTMENT COMPACT AND THE INVESTMENT REFORM INDEX Appendix 1.1 -- The SME Policy Index MACROECONOMIC AND INFRASTRUCTURE ENVIRONMENT Appendix 2.1 -- Key Indicators of SEE Countries PART II. INVESTMENT REFORM INDEX: POLICY FINDINGS CHAPTER 3. INVESTMENT POLICY 3.1 Introduction 3.2 Assessment Framework 3.3 Non-Discrimination 3.4 Protection of Property 3.5 Key Actions to consider at the Regional Level CHAPTER 4. INVESTMENT PROMOTION AND FACILITATION 4.1 Introduction. 4.2 Assessment Framework4.3 Investment Promotion and Facilitation Strategy 4.4 Investment Promotion Agency 4.5 Transparency of Investment Policy and of Investment Promotionand Facilitation Framework 4.6 Key Actions to consider at the Regional Level CHAPTER 5. TAX POLICY 5.1 Introduction 5.2 Assessment Framework 5.3 Tax Policy and Legislation 5.4 Tax Administration 5.5 Compliance Costs 5.6 Transparency 5.7 Key Actions to consider at the Regional Level CHAPTER 6. ANTI-CORRUPTION AND BUSINESS INTEGRITY 6.1 Introduction 6.2 Assessment Framework 6.3 Anti-Corruption Strategy. 6.4 Anti-Corruption Legal Framework and Adoptionof International Conventions6.5 Promotion of Good Governance and Public Administration 6.6 Transparency 6.7 Key Actions to consider at the Regional Level CHAPTER 7. COMPETITION POLICY 7.1 Introduction 7.2 Assessment Framework 7.3 Competition Strategy 7.4 Competition Legal Framework 7.5 Institutional Framework 7.6 Competition Law Enforcement 7.7 Competition Policy Advocacy 7.8 Key Actions to consider at the Regional Level CHAPTER 8. TRADE POLICY 8.1 Introduction 8.2 Assessment Framework. 8.3 Multilateral and Regional Bilateral Trade Agreements8.4 Trade Liberalisation 8.5 Non-Tariff Barriers 8.6 Pro-Active Trade Policy 8.7 Key Actions to consider at the Regional Level CHAPTER 9. REGULATORY REFORM 9.1 Introduction 9.2 Assessment Framework 9.3 Regulatory Reform Strategy 9.4 Institutional Framework 9.5 Regulatory Impact Analysis 9.6 Regulatory Transparency 9.7 Key Actions to consider at the Regional Level Appendix 9.1 -- The OECD Investment Compact/SIGMA Three-Step RIA Guidelines CHAPTER 10. HUMAN CAPITAL 10.1 Introduction 10.2 Assessment Framework. 10.3 Education and Workforce Skills Development10.4 Transparency in Education and Workforce Skills Development 10.5 Key Actions to consider at the Regional Level Annex A Country Priorities Annex B Key Actions at Regional Level Annex C List of Contacts. Stability Pact For South Eastern Europe ; Investment Compact For South East Europe - P. 2. Includes Bibliographical References. Also Available Via The World Wide Web.