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The Advanced Investment Certification Programme for Regions in Croatia

This presentation and seminar discuss the Advanced Investment Certification Programme for regions in Croatia, focusing on the Information Standard. It covers the importance of information, challenges faced by Croatia, and strategies for attracting more and better quality FDI.

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The Advanced Investment Certification Programme for Regions in Croatia

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  1. The Advanced Investment Certification Programme for Regions in Croatia The Advanced Information Standard:Approach and Methodology Presentation by Declan Murphy and Dražen Derado Seminar “Advanced InformationStandard", 27-28October 2010

  2. Notes on Presentation and Seminar The presentation and seminar is divided into four main parts: • Part 1 of the presentation and seminar sets the background and outlines the overall strategic approach and main components of the AICPR – Information. It spells out the differences between it and the basic information standard. And explains how this builds on work done to date, investor needs, the quality of information required, etc. • Part 2 of the presentation and seminar takes the six modules proposed for the AICPR – Information Standard and explains them in more detail. • The second day will focus more on feedback from each county: (5 minute statement + feedback by each county), current status of their information databases, how they see action being taken with AICPR Information Standard and questions/issues of concern, etc. Interactive discussion with the Counties on work to date and the proposed Advanced Information Standard are central in the seminar. • The final section will address conclusions, key tasks and next steps

  3. Main Themes of Presentation • Background • 2. Challenges for Croatia and Regions • 3. Importance of Information • 4.ICPR standards • 5.The Advanced ICPR Modules -- Information • 6. Assessing and Certifying Progress • 7. Summary Aims and Objectives

  4. Part 1

  5. Background on Overall Programme “DEVELOPMENT OF THE INVESTMENT CLIMATE IN CROATIA” • Croatia seeks to be a competitive member of the European Union. The overall programme therefore has the objective of enhancing the business and investment climate across Croatia in order to ensure cohesive regional development (EU terms of reference, 2008) • The Programme aims to build on previous work done in Croatia (MELE, CARDs, USAID) and focus on meeting new levels of progress, professionalism and standards with: (1) The Information Standard (2) The Property Standard (3) The Marketing Standard • This seminar is concentrated on The Information Standard and in particular on the ‘Advanced Investment Certification Programme for Regions’. In general the Information Standard ‘demonstrates that a Region can meet the information needs of a typical investor and knows how to use the information in a selling situation’ (EU terms of reference, 2008). • Attracting new investment is a highly competitive business and The Information Standard is a vital component of the approach taken by countries and regions.

  6. Progress achieved in attracting FDI not to level of EU + neighbours How can Croatia’s regions attract more and better quality FDI? Learning from the experiences of other similar size countries (e.g. Ireland, Slovakia, Czech Republic) Work done to date on Information, Property and Marketing Standards needs to be built on so that Croatia becomes a stronger competitor The focus of this presentation is on INFORMATION: specifically the Advanced Investment Certification Programme Global economic environment tougher for attracting FDI… EC receives major proportion of international FDI (new EC members) China, India, South East Asia, Brazil major destinations for FDI. All have professional + aggressive approach to FDI promotion Croatia faces increased competition for FDI in the wider South East Europe and the Western Balkans The Croatian market is relatively small. Croatia and its regions need to develop an information base and marketing message to attract FDI Challenges faced by Croatia BUILDING ON PROGRESS INTERNATIONAL COMPETITION

  7. Comparative Performance in FDI Source: UN World Investment Report 2010

  8. FDI: How does Croatia compare? • Croatia compares well with near neighbours in the West Balkans but recent trends in greenfield projects show Serbia achieving double the Croatian performance. In 2010 BiH is achieving a better performance in greenfield projects (9 v 4). Croatia urgently needs to raise its performance in informing, servicing and attracting FDI. • In comparison with recent new entrants to the EU (Romania and Bulgaria) and established EU members that compare in size with Croatia then Croatia is behind these countries on all indicators. • Croatia V Ireland: Ireland’s inflows in 2009 were 10 times higher; Ireland’s total stock of FDI in 2009 was 6 times greater; and Ireland had 6 time more greenfield projects than Croatia had in 2009/10. • The differences in performance should not be seen in a negative way. They show the OPPORTUNITY AND POTENTIAL FOR CROATIA. • In brief, by building a much more competitive approach and putting in place some of the major building blocks (professional and efficient Information, Property, and Marketing Standards) Croatia can move quicker on the path to new levels of FDI and regional development.

  9. Key Questions for Regions How to attract international investment to Croatia? Counties’ role and commitment to action in this national challenge? Concrete steps to achieve results + new levels of investment? How does Croatia and counties compare with other countries/regions? The AICPR and specifically the Information Standard is an important component in addressing these questions and issues

  10. Importance of Information “More than 70 per cent of investment promotion intermediaries may be missing out on foreign investment by failing to provide investors with accurate and timely information” Source: World Bank Group - Global Investment Promotion Benchmark Report 2009 (213 investment promotion institutions in 181 countries assessed)

  11. ICPR Standards – MELE The ICPR Standards The standards • To become certified a Region will be rated on its ability to successfully meet three standards. These standards are based on research carried out into the needs of major international investors and best practice among successful investment attraction agencies. The Investor Information Standard • Certifies that the Region can meet the information needs of a typical investor and knows how to use the information is a selling situation. To meet the requirements of the standard a region should; • Complete a detailed information checklist and identify sources of relevant detailed information for follow-up questions. • Conduct a survey of existing investors in the region to understand both strengths and weaknesses of the regional ‘product’ and to identify expansion opportunities or investment barriers. • Develop a local suppliers database to service the needs of targeted investors • Complete a report on one or more high growth potential sectors in the region Source: Ministry website: www.mingorp.hr

  12. AICPR Information Modules INVESTOR INFORMATION REGIONAL INFORMATION COMPANY INFORMATION SECTORAL INFORMATION INTEGRATED WITH PROPERTY + MARKETING STANDARDS COMPETITIVE- NESS INFORMATION RESULTS + IMPACT INFORMATION

  13. How the AICPR differs? • The AICPR Information Standard seeks to bring the standard + quality of information sources in regions to new levels of excellence. • Six easily understood modules are the foundation for the AICPR Information Standard. The standard will have structured integration with other standards (property + marketing). • The AICPR will expand existing information, provide new information and include more comparative data for Croatia/regions and competing countries/regions. • Use information in a proactive and public way. At present the ‘Investor Checklist’ is an internal tool – the AICPR will seek to select ‘Key Facts for Investors’ from this Checklist and make it more accessible. • New modules focus on competitiveness and results + impact of FDI. INVESTOR INFORMATION REGIONAL INFORMATION COMPANY INFORMATION SECTORAL INFORMATION COMPETITIVE- NESS INFORMATION RESULTS + IMPACT INFORMATION

  14. Integrated and Strategic Approach Marketing Standard Essential to coordinate the approach and methodology for the three standards and ensure they complement and support each other

  15. 1. AICPR Information Modules • INVESTOR INFORMATION: (a) Investor Information Checklist (existing checklist in regions – mainly an internal archive) (b) ‘Key Facts for Investors’ – summary statement with key facts, comparative data – for public use and to be updated regularly • REGIONAL INFORMATION: (a) SWOT analysis with focus on opportunities and strategy for the region – an internal process to help counties identify key points (b) Summary regional profile for investors • COMPANY INFORMATION: (a) Company database that shows separately all FDI companies (b) major indigenous companies that are potential business partners and/or potential product, component and service suppliers (c) Database of indigenous companies that are qualified/interested in linkage i.e. supplying FDI companies

  16. 2. AICPR Modules and Components • SECTORAL INFORMATION: (a) Priority sector information including sector surveys (b) Sector profiles – short format on target sectors and explains region’s advantages (c) Sector studies – more elaborate format • COMPETITIVENESS INFORMATION: (a) National, regional and county statements on competitiveness (b) Comparison with other EU and OECD country regions • RESULTS + IMPACT INFORMATION: (a) Facts on FDI investment, summary of employment, investment, exports (b) Economic contribution (e.g. wages/purchases/tax paid) by FDI companies

  17. Overview on Information Standard Investor Needs Investor Needs and Key County Promotion Messages to Investors Advanced Information Standard modules Investor Information Results + Impact Information Competitive-ness Information Regional information Company information Sectoral Information Basic Information Standard Building on the Basic Information Standard and Work Undertaken to date

  18. Assessing the Advanced Standard

  19. Summary Aims of AICPR - Information Use+ build on work done to date and bring counties/regions to new levels of expertise in information? Strengthen regional skills and their capabilities in gathering, presenting + maintaining information ? Ensure information is relevant, focused on investor needs, accurate, systematic, easily accessible and user-friendly?

  20. AICPR Information Modules INVESTOR INFORMATION REGIONAL INFORMATION COMPANY INFORMATION SECTORAL INFORMATION INTEGRATED WITH PROPERTY + MARKETING STANDARDS COMPETITIVE- NESS INFORMATION RESULTS + IMPACT INFORMATION

  21. Thank you … Any questions?

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