Kosovo, Albania and North Macedonia have considerable investment potential at a time when renewed investor interest and a stronger commitment to European integration are being observed across the Western Balkans.
This was stated by Richard James Lowden Record, the World Bank’s lead economist for the Western Balkans, at the Balkan Summit, which focuses on private investment and opportunities to develop public infrastructure projects worth €30 billion in Kosovo, Albania and North Macedonia.
Record said the region offers significant untapped opportunities, despite facing a more challenging global environment characterized by slower economic growth and geopolitical uncertainty.
Speaking about the challenges facing the global economy, Record highlighted slower economic growth in Europe, geopolitical uncertainty, the reorganization of supply chains, technological developments and the rapid spread of artificial intelligence.
However, he said Kosovo, Albania and North Macedonia share advantages that could serve as a foundation for economic development and attracting investment.
“Across the Western Balkans, we are seeing renewed investor interest and a stronger commitment to European integration, stronger macroeconomic resilience and growing recognition that this region offers significant untapped opportunities. However, we are also operating in a much more challenging global environment, characterized by slower economic growth across Europe, in both advanced and developing economies, increased geopolitical uncertainty, the reorganization of supply chains, disruptive technological developments and the rapid spread of artificial intelligence. These three economies, and certainly the World Bank Group, recognize that Kosovo, Albania and North Macedonia have considerable potential,” Record emphasized.
Among the advantages of these countries, Record highlighted their young populations, sound macroeconomic foundations and economic stability, as well as strong diaspora ties that provide access to investor networks, financing, talent and new ideas.
He also stressed the importance of the three countries’ geographical location and their commitment to European integration.
Four panels will be held on the first day of the summit, with ministers from the Kosovo government also in attendance.
