The panel was chaired by Ms. Deborah Wince-Smith, President of the Global Federation of Competitiveness Councils, USA. Speakers included: Mr. Lulzim Basha, former Mayor of Tirana (2011–2015), Albania (via VTC); Mr. Kalin Peshov, CEO of GBS Holdings, Bulgaria; Mr. Hippolyte Fofack, Research Associate at Harvard University, USA; Mr. Alexandru Reff, Managing Partner at Deloitte Romania & Moldova, Romania; and Mr. Igor Burakovsky, Head of the Board at the Institute for Economic Research and Policy Consulting, Ukraine.

The speakers highlighted that in Eastern Europe and the Western Balkans, competitiveness is seriously undermined by high energy costs, which are several times higher than in the United States or China. These challenges are compounded by the European Union’s strict regulatory framework, which calls for genuine and sustained reduction in order to better support the business environment. In Africa, the energy crisis is compounded by additional structural challenges, including limited access to financing and a shortage of human capital. In Ukraine, economic competitiveness has taken a back seat to the urgent need for security. A severe labor shortage is forcing businesses to focus on exports in order to remain viable.

Watch the live sessions on YouTube: https://youtube.com/live/89RK68zlL58?feature=share