Business News

World Bank expands investment consulting in CEE, Central Asia

Oct 21, 2008, 14:29 GMT

Vienna - The World Bank Group has launched a new office in Vienna on Tuesday to help a wider range of countries in Eastern Europe and Central Asia attract direct foreign investment. Expanding its previous work in Vienna that was focused on the West Balkan region, the World Bank's investment climate advisory service FIAS is expanding to countries such as the Ukraine and Armenia, programme coordinator Margit Mischkulnig said. 'It's going deeper and wider,' she said. The advisors will help governments in creating competitive business environments by identifying obstacles to foreign investment, such as bureaucracy and corruption, and by offering solutions. The goal was for countries in these regions 'to win more mobile investment, particularly greenfield investments, that will lead to jobs and growth,' said Karin Millett, head of the Vienna office.

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