BuildPress Issue n.1 English Edition by BuildPress

Lido Contemori, ITALY

CARTOONS

BUI LD PRESS

P. 46-47

INTERVIEW

Giorgos Dalaras The Greek Voice talks

P. 3

Monthly Free Press About Countries, Cities, People, Companies, Projects & the Environment

ENERGY news in 1’

*Albania Electricity

markets for Greece

s n ge port o a p re PE

l cia RO e p s EU

P.11 Our vision and proposal is to combine the forces of Crete under a common umbrella, highlighting the strong regional characteristics, in line with the concept of international regional marketing.

*Bulgaria to

collect 150millEur

*Cyprus Israel Greece Increase cooperation to exploit natural gas deposits in the Mediterranean but warn that largescale exports could take a decade.

11 COLOURFUL Countries & Cities

South East Europe! Cooperation & Investments with common strategies needed to get out of the crisis

*Romania Focuses on

Romania will keep its focus on nuclear energy but strategic changes will probably be made.

Explore the Carpathian Garden p.46

P. 12

The countries of SE Europe are set to become major tourist destinations over the coming years. The region boasts some of the world’s most picturesque and vibrant towns and cities.

is still recovering

P.37 Prices are still not stable, there are a lot of projects that are on hold indeﬁnitely and banks are making it hard for people to get a loan.

Open Up the city

>>>

Yiannis Boutaris

P.5

Romanian real estate

P. 15- 36

ROMANIAN TOURISM

nuke energy

MAY 2012

SEE important

Electricity prices for households in Albania to stay unchanged till 2014.

Bulgaria expects to annually collect EUR150m in transit fees from the South Stream gas pipeline.

Issue n. 8

to its Neighbours

Straight-talking and unbiased, Thessaloniki Mayor Yiannis Boutaris spoke frankly to Build Press about the deep problems the municipality is facing along with other big cities. In the interview, he speaks about what led him to become a candidate for mayor, and about the current problems, challenges and the potential the city has for attracting visitors from other countries.

World news....European news....Expo & Trade fairs........ inside p. 46-48

create your perfect villa holiday... www.croatianvillas.com

CROATIAN VILLAS

MY PAGE EDUCATION

Infographics

worth more

than a thousand words Kyriaki Balkoudi Editor in chief

Mobile Internet Usage Two years ago,it was mainly business professionals to had access to Smartphones. Now however, they’ve become consumer staple,especially with female and younger markets seen the biggest growth smartphones ownership and shopping worldwide.

Infographics by BPress

LABOUR

EUROZONE: 17.4 million are looking for a job 10.9

EUROSTAT

]

[

March/12

The number of people looking for work in the 17 countries that use the euro hit its highest level since the currency was introduced back in 1999, official figures showed, adding to fears that the region is in recession.Eurostat, the European Union’s statistics office, said unemployment in the eurozone rose to 10.9 percent in March from 10.8 percent the previous month. The number of unemployed totaled 17.4 million, nearly 1.7 million higher than the same month a year ago. Among the member countries the highest unemployment rates were recorded in Spain (24.1 percent) and Greece (21.7 percent in Jan. 2012). The figures stand in marked contrast to the U.S. with an unemployment rate of 8.2 percent.

ENVIRONMENT

EU countries failing

Europeans dump the bulk of their rubbish in landﬁlls and many EU

BUiLD PRESS

Published by: EUROPAPROEDITIONS srl Publisher/Editor in chief: Kyriaki Balkoudi

TECHNOLOGY

Taiwan’s

highly educated population higher than Europe’s The number of Taiwanese people with a college, university or other type of higher education degree has increased year by year to 39 percent of the whole population in 2009, according to statistics released by the Ministry of the Interior. Compared with other countries, Taiwan's higher education population stands higher than the average 30 percent of the Organization for Economic Cooperation and Development's member states. It ties with South Korea's 39 percent, but is lower than Japan's 44 percent, the ﬁndings show. Taiwan's high education population also stands lower than Canada's 49 percent, the United States' 41 percent and New Zealand's 40 percent, while being higher than Germany's 26 percent, Britain's 37 percent,France's 30 percent, Switzerland's 35 percent, Norway's 37 percent, and Sweden's 33 percent. The statistics on the education level of people over 15 years old show that by the end of 2011, 38.2 percent of such Taiwanese people are college or university degree holders.

World wide student numbers double by 2025 Average annual growth in demand for international higher education between 2005 and 2025 is expected to exceed 3% in Africa, the Middle East,Asia,Central America and South America, according to University World News.The English-speaking countries have been long accustomed to dominating the market in selling international education, but that situation is under- going rapid change.Traditional source countries such as Singapore, Malaysia, Thailand and the Middle East are developing their own capacities to offer education to outsiders. Singapore hopes to attract 150.000 foreign studentsby 2015 Malaysia 100.000 by 2020 and Jordan 100.000,China is planning to expand its enrolments of foreigners to 300.000 by 2020.

countries appear to be falling well short of 2020 targets for recycling municipal waste,new data from the EU statistical agency show. Eurostat figures show that the 10 countries that have joined the Union since 2004 send the vast majority of their waste to landfills. But the data also shows that older member countries – including financially troubled Greece, Ireland,Portugal and Spain dump more than half their rubbish. All of the municipal waste in Bulgaria is sent to landfills, and nearly all in Lithuania and Romania. Europeans generate on average more than 500 kilograms of waste per year, some 300 kilograms of which is food and plant rubbish. Proper waste management is vital for our environment, but it also makes economic

BUiLD PRESS

Top Technology & Business Trends that will aﬀect consumers

For all of you tired of the 2012 hysteria, here are top technology and business trends that will aﬀect consumers from CEO World Magazine. Whether it’s Facebook Page or Pages for Google+ or the Twitter branded pages, in 2012 big and large businesses will realize the power of social media sites like Facebook, Twitter, Linkedin OR Google+.Small and big companies have started embracing ecosystems, partners, and crowdsourcing, they will try to integrate with Facebook, Salesforce or by other means. Mobile Payments or Mobile banking- Mobile banking allows for an alternative payment method instead of paying with cash, check or credit cards, the consumer can pay using their smartphone, via a method that is quick, secure and hassle-free.

Semantic technologies - Data has become the soul of the interaction, and a uniform template the face of the rela-

tionship, those that enable data to be understood across multiple languages — are becoming more prevalent. Expect HULU, Netﬂix and other standalone products and services to be absorbed by larger companies. Apple’s iCloud, Amazon’s Fire, and Google’s play in movies will make it harder and harder for video-speciﬁc sites to survive. Lightweight and thin laptops – Companies like Toshiba, Lenovo, Asus, Acer, Samsung, and HP have already made moves in this space, but more products are expected to hit the shelves in 2012 and 2013.

Ultrabooks are set to be a big trend in 2012.

ENERGY

EU GREEN JOBS A report released from the European Commission revealed that EU green jobs in 2010 totalled 1.440.000, an increase of 25 percent from 2009.Leading the way in renewable energy jobs was the biomass sector, which accounted for 273.000 jobs. Solar photovoltaics(PV)and wind power came in second and third place, with 268.110 and 263.145 jobs respectively. Germany, Italy, and France led the way in PV job growth, with PV jobs expanding by 70% in 2010.Analysts suggest

that many factors contributed to job growth in the EU green sector. A particularly long and severe winter boosted household consumption of heat, which spurred growth in renewable energy-source primary consumption. Higher rainfall led to higher hydroelectricity output.Finally, structural changes played a key role in increasing renewable energy consumption,facilitated by extended power grids, renewable energy programs, and industry investment in green power.

on 2020 waste target

sense; waste is a valuable resource if it is well managed. Belgium,Denmark,Germany, the Netherlands,Austria and Sweden have eliminated all or nearly all their landﬁll disposal through incineration, recycling and composting, ﬁgures compiled by Eurostat show.The statistics indicate that the EU has a long way to go to meet targets set by the 2008 Waste Framework Directive, which calls for recycling of at least 50% of household waste by 2020.The legislation calls for a European “recycling society” that apparently hasn’t yet reached all corners of the Union.The EU’s overall recycling rate stands at 25%.

Accounting: Ionel Termure Legal Advisor:Evi Balkoudi Journalist /Copy Editor: Andrew Eatwell

Translator: Dumitru Horvath Marketing: marketing@buildpress.ro

Head Oﬃce : ROMANIA, Cluj Napoca Bucharest: Tel: +40 21 35 25 996 GREECE: Thessaloniki : Tel:+30 2310 230 441 Email: info@buildpress.ro www.buildpress.ro

3rd PAGE

BUiLD PRESS

In every issue Build Press dedicates its third page to a personality from social, professional or public circles whose career, moral values and commitment to worthy causes reflect the philosophy of “Build” - contributing to the construction of human principles for life.

GIORGOS

DALARAS The Greek Voice

uildPress publishes an exclusive interview with Giorgos Dalaras, the Greek singer whose art and popularity transcend the borders of Greece.We host this interview not only because we believe in his exceptional voice and instrumental skills but also in his personal history and commitment to social issues.His compositions and performances,poignant expressions of protest and social indignation, have established him in the conscience of the people, providing a great cultural experience and a musical voyage of discovery. B.P. You characterise Greek music today. What do you think should be the duty of a distinguished artist toward new generations? G.D. Greek song, which is one of a kind worldwide in terms of cultural production, blending words, poetry and the various music stimuli of our land, has always been on the side of the Greek people, next to every sensitive man in his most difficult times. It can do the same today too, banishing the paralysing effect of fear, isolation and social alienation. I think it is an invaluable legacy for the journey of generations to come. It is our duty to pass it on to young people in the most unaffected and clear-cut way. B.P. What does the Greek song represent today, given that production is limited? G.D. As you have said, despite the fact that music shops and records are vanishing, despite the fact that cheap and fleeting songs are the ones that are being promoted, values, no matter how well they are suppressed, will come to surface - they will find ways to be communicated to the public. Indeed, recordings are dying. Everything has turned upside down, but music and inspiration will not only survive, they will bloom and will earn distinction, even within these unfavourable conditions. On our part, as you say, in order to change this situation we will do nothing more than what we have already learned to do: work with feeling and dedication, always respectful towards our public, with our eyes and ears open to artistic innovation and shut, com-

pletely shut, to the trite tricks of fad and fashion. It is better to be stuck to the past when there are no real ideas that are respectful and consistent, rather than follow the easy way out, that of fleeting hits, which reproduce this useless, tasteless and gaudy sound pulp. B.P. With decades of presence on the Greek music scene, you have performed all kinds of Greek songs. You have been adored by successive generations. Do you feel that you remain inexhaustible and still ready to surprise? G.D. It is a great honour for me if you feel this way. Yes, I want to surprise, because I like being surprised myself in the first place – as a musician basically. This is the simple truth. The beaten path wears me out. I don’t want its goods, which are guaranteed success and the hits. I prefer the risk of the different, as long as it moves me musically and - always being serious about everything I do - as long as I study it well beforehand and find out, using my own strict judgement, that my performance will add at least a new idea to the existing ones. What do I mean by this? Let’s take remakes as an example. And, by the way, I like the fact that you are giving me this opportunity to clear this up. I never choose to perform a remake of a song thinking of its possible success. It has to excite me musically and I must have in my mind a certain remake or performance. B.P. Do you have plans for an international presence?

I prefer the risk of the diﬀerent, as long as it moves me musically and -always being serious about everything I do as long as I study it well beforehand and ﬁnd out, using my own strict judgement, that my performance will add at least a new idea to the existing ones

BUiLD PRESS

G.D. Recently, we presented a music experiment on Kavaﬁs. This new musical show has aroused interest in many countries abroad. We have already received invitations to perform in big foreign capital cities, including Paris, London and New York. It was a unique experience, being able to transmit the message of the great Alexandrian to a public not so acquainted with the poet’s pen. Once again, the beginnings of Modern Greek literature, together with the dynamic innovative spirit of composer Alexandros Karozas, build cultural bridges. It suﬃces for me to express my absolute admiration and I treasure the model artistic work of an artist, who had the generosity and conscience to share his incorruptible poetic word in a popular version, without discriminating the receivers of his word between the initiated and uninitiated. And it is exactly the enduringness of his word that facilitates its vivid instilling in new generations.

CONTINUING FROM PAGE 3

B.P. Your life has always been connected with music. What memories do you have from the period when you were growing up in a home with your father and uncles who where Rembetes? G.D. My memories are mainly associated with music, since, as is well known, unfortunately I was not brought up with my father around, but by my mum. I would rarely see him, but I adored his voice and his music playing and, as I grew up, and my sorrow was soothed, I began to look up to him more and more, because he was a very

special singer and musician. His family also gave to the world some very good musicians. So, I am grateful both for what I have inherited biologically, and for the things I have learnt. B.P. When was the ﬁrst time you realised that you were going to be involved with music? Was it a one-way route? G.D. I realised I was going to get involved in music when I was a very young child. That music would be my only profession is something it took me some time to decide. I made the decision together with my mum, when I was about 16. My mother had some serious objections and fears. In the beginning she didn’t want me to become a musician at all, let alone a singer. But she was an open-minded and clever person, a mother and a father at the same time, and soon she realised it was my destiny…

Unfortunately, I was not brought up with my father around, but by my mum. I would rarely see him, but I adored his voice and his music playing

B.P. Do you ever regret not having pursued something different? G.D. No, no. Whatever I desired, I did it on the side, with the difference that I could not possibly do anything without the presence of music. It is identified with my life and my existence. B.P. Concerts are a big part of your life - you have travelled and sung Greek music on all continents. What memories do you have from these concerts? G.D. Through music I have learnt about the world and people. Their diversity, what sort of music touches each one. And through music I have learnt life.

B.P. During your 42-year career, did you always have the same commitment and the same passion? G.D. It couldn’t have been otherwise. To be honest, I may not be aware of that. This is the way I work. I commit myself completely and there is nothing to distract me. B.P. Your name is identiﬁed with humanitarian and social giving. What has led you to this? G.D. The need to live. It is inherent. This is how we were brought up, with this syndrome of solidarity and giving. In family life, we lived communally, with each family renting a room in the areas around Athens, then in the city neighbourhoods, still as children, and then joining demonstrations as teenagers. Then, after the fall of the junta and the political changeover, during the solidarity rallies. That is how we used to live. Good and bad. We are used to that. It is too late to change.

1.Giorgos Dalaras’ parents, Soultana and Loukas 2.Dalaras and composer Mikis Theodorakis 3 & 4. Giorgos Dalaras in his early career

GIORGOS DALARAS BIOGRAPHY Giorgos Dalaras was born on 29 September 1949 in Piraeus, the main port of Athens. Hailing from a tradition of folk and blues music - his father was the rembetiko singer - at the age of 16 he made his ﬁrst public appearance as a guitarist and singer. In his early 20s he had already achieved stardom and began working with the great names in Greek music. Since the 1960s, Giorgos Dalaras has

recorded more than 120 records and has sung numerous diﬀerent music styles. He was the ﬁrst to take Greek music out of the conventional club environment and perform concerts in large venues. Since 1981, he has performed over 500 concerts outside of Greece, promoting Greek culture abroad. He has performed at some of the most famous concert halls all over the world and has appeared at numerous cultural festivals. Dalaras has sold more than 14 million albums of his own work and his collaborations. He has

recorded and appeared on stage with Sting, Paco de Lucia, Al di Meola, Goran Bregovic, Ian Anderson, Joan Faulkner, Jocelyn B. Smith, Emma Chapplin and many others. In 2006, Giorgos Dalaras was appointed by the then UN Secretary General Koﬁ Annan and the UN High Commissioner for Refugees Antonio Guterres as one of seven UNHCR Goodwill Ambassadors in the world. Dalaras is a collector of musical instruments and in his spare time he likes to go ﬁshing and travel on his motorcycle.

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11 BUiLD PRESS

PHOTO REPORTAGE

Countries & Cities in SEE

ALBANIA-TIRANA

BULGARIA-SOFIA

MACEDONIA-FYR SKOPJE

CYPRUS-LIMASSOL

GREECE-ATHENS

The Colourful beauties of South East Europe The countries of South Eastern Europe are set to become major tourist destinations over the coming years. Rich in cultural heritage, delectable cuisines, historical lands, the region boasts some of the world’s most picturesque and vibrant towns and cities. From colourful beach resorts to sleepy mountain hideaways, the region also has many of Europe’s leading hotels, resorts and spas, conference centers and other facilities for business meetings. However, much of what South East Europe has to offer is still, to some extent, unknown outside of the region and its neighbours. So don’t hesitate to explore this wonderful part of the world.

ROMANIA-BUCHAREST

MONTENEGRO-PODGORICA

CROATIA-ZAGREB

SLOVENIA-LJUBLJANA

SERBIA-BELGRADE

BOSNIA-HERZEGOVINA-SARAJEVO

EUROPE NEWS

BUiLD PRESS

MONTENEGRO

Increasing number of blocked accounts

ALBANIA

Albania’s GDP growth 3.1% in 2011 Albania’s Institute of Statistics announced that GDP growth in Albania stood at 3.1% in 2011. Albania’s GDP rose 3.8% in the fourth quarter of 2011 compared to the same period in 2010, while it grew 0.1% compared to the previous trimester, according to INSTAT. Transportation and trade constituted the biggest increase by 15.4% and 8.8% respectively in the last quarter of 2011. Industry was the sector which registered the biggest slump by 7.8%.

According to the statistics of the Central Bank of Montenegro (CBCG), the accounts of 15.530 legal and natural persons were blocked at the end of March, up 0.24% on the month before. The total amount of debt, on the basis of which the accounts had been blocked, was 394.89 million, up 2.6% on February CBCG says in a report.

GR.BRITAIN

Strong services sector Higher than expected growth in services sector – following positive manufacturing and construction data – suggests Britain can avoid recession. The latest in a clutch of business surveys indicated that the UK's dominant services sector, enjoyed a jump in activity in March. The resurgence came as new business growth improved and prompted companies to take on staﬀ, according to the latest Markit/Cips UK Services PMI.

SLOVENIA

Slovenia’s unemployment decreased

MACEDONIA-FYR

Airports report 20% growth

Slovenia's jobless figure decreased by 3.6% to 110.859 in March, according to figures from the Employment Service. The number represents a 2.7% drop year-onyear. In the first three months of 2012, the average number of people out of work stood at 113.953, which is 0.8% less than in the same period last year.

Two international airports, Skopje and Ohrid, have so far this year reported growth of over 20%. In March, the two airports combined welcomed 57.596 passengers, an increase of 24% compared to the same month last year, despite the loss of both ČSA Czech Airlines and Malev Hungarian Airlines. During the ﬁrst few months of the year, most passengers departing Skopje were heading to either Zurich (26%) or Istanbul (14.3%). So far this year the airports have seen an average passenger increase of 23.5%.

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EUROPE NEWS

BUiLD PRESS

BRUSSELS

SERBIA

EU summit on growth possible before June EU leaders may meet for a special summit dedicated to growth before a regular meeting at the end of June, Council chief Herman Van Rompuy said as several Prime Ministers stressed the need to shift the focus away from austerity. Van Rompuy told an audience at a business conference in Brussels that this was “the highest priority for European leaders. EU leaders have already met at the end of January to adopt nonbinding conclusions on “growth-friendly consolidation” and “job-friendly growth” and in March to at a regular summit also dedicated to growth and jobs.

Tax debt totals RSD 359.3 billion Total debt of 1.500 tax debtors whose names were released by the Serbian Tax Administration add up to RSD 359.3 billion. Of this sum, companies owe RSD 345.9 billion, entrepreneurs owe RSD 8.5 billion and the debt of individuals adds up to RSD 4.9 billion

BOSNIA HERZEGOVINA

Microsoft conference in Mostar Two-day business - technology conference Microsoft Network 2.0 was held in Mostar and was attended by representatives of BiH economy, public and private sectors, and prominent local and foreign IT professionals, During the conference all participants had the opportunity to get through four parallel series of presentations: Business, IT pro, Dev and MS Community to familiarize themselves with the current Microsoft and partner solutions and IT trends, improve their knowledge and establish new business contacts. The conference was organized under the auspices of the City of Mostar, and with support of Logosoft, as a platinum sponsor, LANACO, Hewlet Packard BiH and PlanB as gold sponsors and Nokia and HT Eronet as silver sponsors.

FRANCE Paris has the largest number of foreign nationals. Newly released ﬁgures from the French statistical oﬃce show the popular departments of France for European and other foreign nationals. The capital city Paris has the largest number of foreign nationals, with 330.000 who have decided to settle there, accounting for 4% of the total population. Although the neighbouring department of Saint-Seine-Denis has a slightly lower total number of foreign nationals the department has the largest share (20.9%) as a percentage of its total population. It is followed by Paris (14.95%).

CYPRUS

Conference Tourism Organising more than 200 conferences in Cyprus during the Republic’s Presidency of the EU Council in the second half of the year oﬀers the opportunity to promote Cyprus as a destination for conference tourism. The main role assigned to the Cyprus Tourism Organisation by the Secretariat of the Presidency is to coordinate and organise the issues concerning delegate accomodation and hospitality and to ﬁnd and monitor the sites where the conferences will be held.

ROMANIA

34.400 Romanian ﬁrms in insolvency UNPIR data show that over 20.000 insolvency procedures were started last year. In the 44% of the cases, the procedure was demanded by creditors while for 56% by debtors.The insolvency services market stood at EUR 25 million last year, rather similar to the previous one.

BULGARIA

Promoting wines to Russia & China Bulgarian wines will be promoted in Russia and China with the help of a program co-ﬁnanced by the European Union, the Bulgarian Agriculture Fund has announced. The Bulgarian wines that have Protected Designation of Origin (PDO) and Protected Geographical Indication (PGI) will be promoted on the two vast markets for a period of three years.

GREECE

4.7 billion euros withdrawn from banks According to Bank of Greece data, about 4.7 billion euros was withdrawn from banks by enterprises and households in February, resulting in a reduction of total deposits from 169 billion euros at the end of January to 164.3 billion euros. Since the beginning of the year, the total amount of enterprise and household deposits has decreased by about 10 billion euros, deepening the liquidity problem of Greek banks. Compared to February 2011, the required depository reserve is down by 19%, the biggest fall (on a yearly basis) to be recorded in recent months. The biggest outﬂow is that of households, with their deposits having shrunk to 138.5 billion euros, from 142 billion euros at the end of January.

WORLD NEWS

BUiLD PRESS

OTTAWA (CANADA) ANCHORAGE (ALASKA) Campaign Encourages Consumers to Shop Local A local campaign launched with the goal of boosting local spending during the usual slower spring months. The "Anchorage First" campaign is hoping to encourage consumers to spend local, rather than making purchases online. According to the Anchorage Economic Development Corporation this time of year can be tough on local businesses, but picks up during the busy summer tourism season. The Anchorage First program is a partnership between the AEDC, the Anchorage Chamber of Commerce, Anchorage Downtown Partnership, and Visit Anchorage.

Aging may boost wages The aging of Canada's population will put upward pressure on wages as the pool of available workers shrinks. Aging will also aﬀect the potential of the economy, meaning the level of activity at which it can operate without inﬂationary pressures according to the Bank of Canada. The mechanism for upward pressure on wages would be that with relatively fewer people left in the work force, employers will compete to attract talent.

NEW YORK (USA) Cloud computing brings more jobs in NYC

SANTIAGO (CHILE) Safest destination for investment in Latin America

According to a report released by research ﬁrm IDC, the shift to cloud computing, and the economies of scale it allows, will bring the total of cloud-related jobs to more than 60.000 in New York this year—a bump of 17% over 2011—making the city the biggest beneﬁciary of the trend among the major metropolitan areas. Los Angeles came in second. It will have close to 38.000 cloud-related jobs in 2012, an increase of 18%.

According to the latest Euromoney Country Risk report, Chile has improved nine places since 2011 and is a safer investment destination than France or the United Kingdom.

RIO DE JANEIRO (BRASIL)

CAPE TOWN (SOUTH AFRICA)

Domestic Tourism Rises

Booming hotel sector

Since 2003 more than thirty million people have risen out of poverty in Brazil, which has had a direct eﬀect on internal travel. According to Brazil’s Ministry of Tourism, internal travel, which it measures by the number of Brazilian passengers landing at the country’s airports, hit nearly 69 million in 2010, an increase of 18%on 2009; the largest jump since the statistics began in 2000.

South Africa saw revenue per available room (RevPAR) increase by 13.6% for the ﬁrst two months of this year, reaching ZAR542.07, according to the latest results from STR Global. The provider of market data to the hotel industry tracks more than 40.400 rooms across the country. The last four months showed double-digit improvements in occupancy and RevPAR South Africa’s Cape Town reported increasing RevPAR for the ﬁrst two months of 2012 with 12.7% (ZAR799.02) growth.

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WORLD NEWS

BUiLD PRESS

MOSCOW (RUSSIA)

BEIJING (CHINA)

Space agency focuses on business Outbound Direct Investment remains strong

The global space services market is diverse in possibilities and consumer applications, including navigation systems, satellite telephony and television, and high-deﬁnition photography. Making money through commercial projects will be a bigger priority for the space program through 2030, according to Vladimir Popovkin, the head of the Russian space agency, Roscosmos, “Farmers, businessmen and individuals alike should proﬁt from the results of our activity,” Popovkin said

According to the state news agency, People’s Daily, China aims to balance its “go global” and “opening up” initiatives by accelerating regional cooperation and economic development as well as overseas investment. The Ministry of Commerce reports that China’s non-ﬁnancial Outbound Direct Investment (ODI) grew 1.8% in 2011 to US$60.07 billion with direct investments from Chinese businesses in 3,391 enterprises across 132 countries and regions around the world.China’s ODI through mergers and acquisitions (M&As) remained strong with US$22.2 billion, accounting for 37 percent of total ODI. M&A deals in Europe by Chinese investors surged 154 percent to US$10.4 billion from US$4.1 billion in the previous year.

DOHA (QATAR) QNB one of world’s 50 safest banks Qatar National Bank (QNB) has been named one of the World’s 50 Safest Banks and one of the Safest Banks in the Middle East, according to the latest update published by Global Finance in April 2012. The ranking was created through an evaluation of long-term credit ratings from Moody’s, Standard & Poor’s and Fitch Ratings and total assets of the 500 largest banks worldwide.

KYODO (JAPAN) Firms kick off fiscal 2012 An estimated 800.000 new employees marked their first day at work on Monday 1 April, the first day of fiscal 2012, after prevailing in a difficult job-hunting season exacerbated by the March 2011 earthquake and tsunami. Companies and administrative offices in disaster-hit Iwate, Miyagi and Fukushima prefectures also welcomed new recruits according to the Japan Times Online.

SINGAPORE Sharp rise in new home sales In February 2.413 new homes were sold, up from the 1.872 sold in January and almost three times more than December’s sales, according to data from the Urban Redevelopment Authority. For February, the best selling projects were mostly located in the suburban areas.The majority of home buyers in the suburbs have been ﬁrst time buyers or second home local investors Prices are not necessarily expected to go up.

NEW DELHI (INDIA) Per Capita Income Rises India’s average income for the fiscal year 2010-2011 rose 16.9% to reach a US$1.000 average for the first time, according to data released by the Central Statistics Office . In rupee terms, this translates into an average annual income of roughly Rs 45.000 for every Indian. According to the World Bank, India is a lower middle-class income country. However, rises in per capita incomes, if sustained, are expected to have a transforming effect on the Indian economy for the next 20 years.

CANBERRA (AUSTRALIA) Online advertising spend to reach $3 billion Millions of Australians have ''friended'' their favourite brand on Facebook or downloaded related apps or done product research online. While the nation's advertisers initially moved online more slowly than counterparts in Britain and the US, local online advertising spend is tipped to reach $3 billion for calender 2012, or more than 20% of the total market. By 2015, it is forecast to rise to $4.13 billion, according to the Interactive Advertising Bureau. This compares with a total advertising spend in Australia of $13.4 billion in 2011.

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TRADE- FAIRS NEWS

BUiLD PRESS

for energy, environment, construction, real estate, interior design, tourism, technology, digital industry, telecommunications

ROMANIA (Suceava) SLOVENIA (CELJE) CROATIA (ZAGREB) International Tourism Trade Fair May 09-12,-12

GREECE

Zagreb Fair Avenija Dubrovnik 15 HR-10 020 Zagreb Tel. +385 (0)1 6503 111 www.zv.hr

6th South East Europe Energy Dialogue

Eco Fair, May 15-18, 2012 Trade fair for environmental protection and ecology Ecofair in Celje is a twoyearly exhibition of ecology and environmental protection. Visitors can ﬁnd in depth and comprehensive information here about the latest developments, trends, products and services in various ﬁelds. Celje Showground Dečkova cesta 1 3000 Celje Tel: +386 (0)3 5433000

Bucovina Construct May 19-22, 2012 Rediscover the pleasure to build by being part of this national trade fair for real estate and construction, organised by the Suceava Chamber of Commerce and Industry. www.ccisv.ro

www.ce-sejem.si

Thessaloniki May 30-31, 2012 The purpose of this international conference is to bring together highranking government oﬃcials, senior business executives and energy experts from the countries of S.E. Europe but also from major energy producing countries with the objective of exchanging information and ideas. www.iene.gr

CZECH REPUBLIC

Tools Europe Prague 29-31 May, 2012 50th International Conference on objects, models, components, patterns. The conference has played a major role in the development of object technology and has contributed to making it mainstream and ubiquitous. Tools is also a premier forum for academic and industrial researchers working on areas related to software development and the perfect venue for exchanging ideas and experiences around these topics. http://toolseurope2012.ﬁt.cvut.cz

GERMANY

Next Berlin Berlin May 8-9, 2012 The leading European conference for the digital industry. Today Next Berlin leads the way as a meeting place for the digital industry in Germany and a vital driving force across borders.It focuses on the most signiﬁcant trends and topics expected over the forthcoming 24 months. http://nextberlin.eu

TURKEY (ISTANBUL) ISK SODEX May 02-05, 2012

POLAND (GDANSK) About Design May 12-13, 2012

Displays latest developments and state of the art technologies in heating, cooling and airconditioning. Istanbul Fair Center(CNR Expo) Tel: +90 212 290 33 33

Design & Interiors Fair Gdansk Internationa l Fairgrounds 80-382 Gdansk T.+48 (58) 554 92 00

www.hmsf.com

www.mtgsa.com.pol

ITALY (VERONA) Greenbuilding May 09 - 11, 2012 International exhibition and conference oﬀering a panorama of the most innovative technologies for energy eﬃciency and sustainable architecture, from the building envelope to building plants, from the water cycle to greening the built environment. Not forgetting design, audit and consulting, professional software and the technical press.Verona Exhibition Centre Tel.+39 045 8298111 www.greenbuildingexpo.eu

SERBIA (BELGRADE)

CYPRUS (NICOSIA)

International Technical Fair May 14-18, 2012

Cyprus International Fair May 18-27, 2012

The most important economic and technological event in Serbia and South East Europe. Telecommunications, Electronics, Shipbuilding, Logistics, Transport & more... Belgrade Fair Grounds Bulevar vojvode Misica 14 11000 Belgrade Tel. +381 (0)11 2655-001

General Trade Fair with a Variety of Consumer and Industrial Products Cyprus International Fair Grounds Tel. +357 2 352918

www.csfa.org.cy

www.sajam.co.rs

Co 11 u 11 Cntries in S ities

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TRADE- FAIRS NEWS

OUT

SEPTEMBER

2012

POCKET BOOK GUIDE SPECIFICATIONS 228 PAGES FULL COLOUR WHITE GLOSSY PAPER POCKET SIZE (11x11CM) HARD COVER 20.000 COPIES ENGLISH LANGUAGE INTERNATIONAL DISTRIBUTION

South East Europe’s MASTER KEY for the International Buyer TO PLACE YOUR AD CONTACT ROMANIA: Tel. +40 21 35 25 996 GREECE: Tel.+30 2310 230 441 INFO@EPEDITIONS.EU

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PEOPLE

Interview with Thessaloniki Mayor

Wine-maker, Businessman, Active Citizen, Mayor

Yiannis BOUTARIS

OPEN UP

the city to its neighbours and to Europe edited by

B.P. What was the main motive that led a successful businessman such as yourself to seek and win the position of mayor of Thessaloniki city? M. Indeed, I’m a businessman, a winemaker in fact, with a long family tradition in the wine business - my grandfather founded the family company in 1879. But at the same time I consider myself an active citizen. I have

always been interested, and still am, in what we call the public sphere, quality of everyday life, urban environment and the environment itself. I dream of a viable and modern city that welcomes visitors and hosts its citizens in the best way, offering ideal services and a place to live their lives properly. Seeking the mayor’s office became almost a crucial need after almost 25 years of conservative stagnancy in the political scene of Thessaloniki, a situation that led Thessaloniki to isolation, introversion and economic wilting. The citizens of Thessaloniki were almost desperate for a radical change, for a new situation that would permit development and would open the way for the creative forces of the city to free their dynamism and boost Thessaloniki. So when we created our group, the “Initiative for Thessaloniki” - made up of people from different political parties and ideological backgrounds, but without any strings or attachments to these parties - the idea was to take office in order to put our ideas in practice and help build a city of which we are proud.

B.P. Would you like to speak about the crisis that’s affecting Greece, the whole of Europe and of course the city of Thessaloniki? How will you deal with making the city prosperous again?

M. The economic crisis is a fact, and

Greece is not the country that triggered it, just the country that fell into it first, and unfortunately it has been used by Europe as a case study to promote difficult policies that until today nobody would have even dared to think about. Unfortunately, Greece long ago needed a restructuring of the state and of the public sector, but these were never carried out… Thessaloniki, of course, is also in crisis, many businesses have closed during these couple of years, unemployment is estimated to have climbed above 20% and the state, in our case the local authorities, have even less possibilities to support the local society because of severe budget cuts in the context of the economic crisis. We made a great effort when we first took office in January 2011 to repair the municipality’s economy. We worked to cut the municipality’s costs. We managed to pay back almost half of the municipality’s debts towards private sector suppliers. We also established a unit for European funding programmes that did not exist until now, while also trying to mobilise private donors and corporate sponsors. In the meantime, we believe that only tourism can help Thessaloniki stand on its feet. That’s why we are trying to attract tourism from neighbouring countries mainly, with Israel and Turkey being a priority. Both of which have strong historical connections to the city of Thessaloniki, a multiethnic city for centuries, with Orthodox Greeks coexisting together with Jews, Turks, Slavs

and other ethnic groups. As I see it, Thessaloniki’s multicultural past is its unexploited asset, and we are trying to

traight-talking and unbiased, Thessaloniki Mayor Yiannis Boutaris spoke frankly to Build Press about the deep problems the municipality is facing along with other big cities. In the interview, he speaks about what led him to become a candidate for mayor, and about the current problems, challenges and the potential the city has for attracting visitors from other countries.

Kyriaki Balkoudi

The economic crisis is a fact, and Greece is not the country that triggered it, just the country that fell into it ﬁrst, and unfortunately it has been used by Europe as a case study to promote diﬃcult policies that until today nobody would have even dared to think about.

highlight this identity of the city to our

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neighbourhood and the world. Up to now our eﬀorts have proved fruitful: the overnight stays of Israelis and Turks visiting Thessaloniki have skyrocketed.We also have a policy in the ﬁeld of culture, trying to host international events that will attract visitors from abroad. For 2012, the municipality will co-organise the World Music Expo (WOMEX) from 17 to 21 October which brings together more than 3.000 artists, producers, managers, festival and concert organisers, music labels and business people from the sector of world music, hoping to set up a Balkan Stage, a regional WOMEX of the South East Europe and the Balkans, thus making Thessaloniki the centre of music production in our area.

B.P. In this diﬃcult period we are going through, how is the municipal authority taking care of vulnerable social groups?

M. The period is indeed very difficult for everyone, even more so for those who are in need. We are promoting the creation of a daily care home for the homeless. We cooperate with the Church and other institutions of the city, or even with private sector businesses to set up soup kitchens for those who can’t afford even to eat, we created a food and clothes bank for the poor, and we managed to provide a daily snack to pupils who are in need. The addiction problem is also one of our top priorities. We created a working group in the Municipality of Thessaloniki, comprised of people experienced in dealing with issues like that. Furthermore, there is the issue of women who suffer violence. We sought access to a funding programme that promotes the creation of homes for women who have suffered violence in municipalities all over the country and we have managed to get funded. We are also working on a solution to establish a home for immigrants to provide shelter, social integration support and other services like language lessons.

B.P. We know that you are making eﬀorts to protect the natural environment of the city, through increasing the number of green spaces and other actions. Can you give us more details and explain how these eﬀorts will evolve?

M. Thessaloniki unfortunately holds many negative records regarding the urban environment, among them the lowest rate in Europe of green spaces per capita – around 2.8 square metres per person – and the highest concentration of PM10s in the atmosphere due to car exhaust, public works for the metro and a generally bad urban environment.This is why we opted for a candidacy for the title of European Green Capital of 2014. To become the European Green Capital doesn’t mean that Thessaloniki is what we could call an environmentally friendly city, but instead that Thessaloniki has a specific programme aimed at becoming a ‘green’ city. We are competing in this candidacy with other big European cities, but we are the first Greek city to participate in this new European action, which started in 2009. Regardless of whether Thessaloniki succeeds in getting the title or not, this effort will trigger great developments, among them introducing our city to a network of European cities that strive for a better urban environment, while we have already started a Green Cities Network here in Greece. We believe that this whole project is going to bear fruit at some point. B.P. The new City Hall, is considered a modern construction with innovative architecture and functionality. What is the current situation with the bureaucracy inside the building? Does it belong to the past or not?

M. Bureaucracy is the big problem of modern Greece. The public sector in Greece, and local authorities as part of it, is plagued by bureaucracy, which after all is very expensive, makes the state unproductive and leaves citizens without proper services. The same goes for the Municipality of

PERSONAL INFO

June 13, 1942 Born in Thessaloniki, Greece 1965 Faculty of Chemistry, Aristotelion University of Thessaloniki 1967 Diploma of Enology, Wine Institute of Athens 1998 to date President “Kir Yianni S.A.” Languages: Greek, English, French Distinctions (among many others): “Winemaker of the year 1996” Stockholm “2003 European Hero” Time Magazine Honored by “UNESCO of Attica” for his contribution to culture and environment 2006 He has two sons & one daughter

Email:mayor@thessaloniki.gr

14 Thessaloniki: a huge organisation, comprising of around 4,500 employees, which should be working like a clock, but in fact is not.What we are trying to do is to reorganise the municipality in terms of its structure, the procedures followed for every service to be delivered, as well as human resources and their management. Also, for the ﬁrst time in the history of the city of Thessaloniki an international human resources advisory ﬁrm has been hired to diagnose the causes of administrative underperformance and to suggest changes in career development and skills acquisition.

B.P. How do you deal with the number one enemy of every municipal authority: the garbage, the cleaning, recycling and sanitation of the city? M. The issue of waste management is very important for us and for the city. Upgrading waste management has been one of the ﬁrst priorities for the municipal authority. A new recycling system based on the unique blue container (for paper, plastic, aluminium, metal and glass) commenced operations in June 2011. The eﬀort is ongoing and we have not yet got to the point where we could say that we have succeeded. However, we are continuing in this direction, trying at the same time to get know-how from cities like Berlin and Vienna in order to build a proper waste management system on which we can later base other modern waste management practices, like compost, reuse of bulk garbage and energy production from waste.

B.P. How are you trying to combat the number two enemy: traffic congestion and illegal parking? M. The circulation and traffic problem in Thessaloniki is great because the only method of public transportation is the bus. The metro is still under construction and its first line is supposed to be completed by 2016. What we are trying to do is promote a combination of alternative means of transportation to ease circulation. In 2011, we implemented pilot pedestrian projects in central and smaller streets of downtown Thessaloniki. We are also trying to create special bus lanes, so that the bus will be quicker and more useful to citizens. At the same time, we are promoting cycling and supporting pro-bike initiatives by citizens’ organisations, such as the Bike Carnival and the World Naked Bike Ride of Thessaloniki, and we are planning a project for cycling tourism, while we are also trying to set up a national meeting of bike organisations. In the meantime, we are paying great attention to promoting coastal transportation as an alternative means of getting around that will ease pressure on the streets. We are also examining the idea of creating a tramway in Thessaloniki.

B.P. What strategies is the

PEOPLE municipal authority planning to implement in 2012 in order to increase the external profile of Thessaloniki, attract more tourists from neighbouring countries and raise revenues? 2012 is the year that Thessaloniki marks one hundred years since its liberation from Ottoman Rule back in 1912. We have planned a series of events to highlight the character and the identity of the city, with a three-day historical international conference being organised for the coming autumn, in which the well-known historian Marc Mazower will play a central role. We have also planned a series of events to highlight the dynamics of Thessaloniki, the young entrepreneurship that strives for innovation even in these bad conditions through the TEDx Thessaloniki event and the Open Coffee Community, a cultural production on every level that is vibrant and vivid, as well as the urban environment renovation efforts that active citizens, grass roots organisations and institutions take up in order to create a viable and attractive city. The motto is: “We honour our past, we build our future.”In the same spirit, Thessaloniki was declared the European Youth Capital for 2014. This is another European action aimed at youth empowerment and mobility. I should note that Thessaloniki, with a population of around one million people, has more than 100.000 students. So, until 2014 and of course during that year, a series of activities are planned by youth and for youth on every level and in field of youth activities, interests and needs.

B.P. What message would you like to give through Build Press to other cities and mayors of SE Europe? When we took office, I started to make Thessaloniki more extroverted, to open up the city to its neighbours and to Europe. South East Europe and the Balkans is our neighbourhood and I strongly believe that through city diplomacy, always taking into consideration the foreign affairs policy of the central government, we can all together create an environment of cooperation and thus empowerment of our cities in the context of our globalised world. We can only stand to benefit from such cooperation: it’s a win-win situation. As the mayor of Thessaloniki, and through the Balkan Cities Network (BALCINET) that comprises of all the capitals of South East Europe, I’m going to promote cooperation and work closely with other mayors of the region in the direction of joining forces. I recently visited Albania and I plan to have trips and meetings in other Balkan countries in the near future.

www.thessaloniki.gr www.thessaloniki.travell

1.ARISTOTLE SQUARE

2.OLD SEAFRONT PROMENADE

3.THE NEW CITY HALL OF THESSALONIKI

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SE EUROPE

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BUILD PRESS

SEE

P.15-37

The region may face very diямГcult economic circumstances now and the key to the development of SouthEast Europe is in improved coordination both at the international and regional level. Foreign investment in the region is crucial for economic growth and for the development of essential infrastructure.

WORLD FACT BOOK

2011 SE EUROPE COUNTRIES

GDP GROWTH %

ALBANIA

2.5

BOSNIA HERZEGOVINA

2.2

BULGARIA

2.2

CROATIA

0.7

CYPRUS

0.0

GREECE

- 6.0

MONTENEGRO

1.8

MACED /FYR

3.3

ROMANIA

1.5

SERBIA

2.0

SLOVENIA

1.1

OTHER EUROPEAN STATES NON EU MEMBERS MEMBER STATES OF THE EUROPEAN UNION SWITZERLAND

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SE EUROPE

South East Europe

ZOOM

from crisis to cooperation and competitiveness

were at war with each other in the 1990s are now sitting around a table discussing common projects and planning a common future in the field of energy policy. The Community is expected to adopt a Regional Energy Strategy later this year that will identify key energy targets for the region and establish concrete criteria and priorities for regional investment projects. Despite the global crisis, which has sapped the confidence of investors in practically all markets around the world, the region still offers unique potential. Low barriers to investment, reduced tax rates, competitive wages and highly skilled workforces are key features of many countries, combined with the region’s strategic geographical position at the crossroads of Europe, Asia and the Middle East. And though the region has primarily been seen as a manufacturing hub for Europe, it is increasingly looking to attract investors in other sectors, such IT, real estate, tourism, healthcare and energy. With Western investors still cautious due to economic uncertainty at home, the SEE region is increasingly starting to draw interest from Russia and China, along with Turkey and some Middle Eastern states. Ongoing economic reforms in many countries, increasingly open economies and markets, and the proactive policies of governments toward foreign investment should all contribute to stability and growth across South East Europe in the long term. More immediately, risks remain, from low consumer confidence and declining credit growth to falling remittances from countries like Greece, where many migrants from the region work. But these challenges are not insurmountable, especially on the back of a potent combination of efforts to increase economic competitiveness and strategies to intensify interregional cooperation of the kind now being seen throughout South East Europe.

uring the last decade, South East Europe has experienced a dramatic transformation led by progress in economic development,regional cooperation,democratic reforms and integration into global economic and financial markets to an extent unthinkable at any other time in the region’s modern history.Emerging regional economic powers such as Romania and Bulgaria have attracted foreign investment in many sectors, helped by their accession to the European Union. Previously conflict-ridden states such as Serbia, Croatia,Bosnia - Herzegovina and Macedonia have put their troubles behind them amid political reform and economic progress. Other countries, among them Montenegro and Slovenia, have experienced a boom in tourism and growth in many sectors. For much of the region, from the most Andrew economically developed states such J.Eatwell as Greece and Cyprus to less develFreelance oped countries such as Albania, much of the last decade was a bonanza of injournalist Specialises in vestment and economic and employment growth.The global financial European crisis that began to affect Western business markets in 2007 took a while to be felt in the still booming SEE region, but by 2009 it was clear no economy could escape the effects of the worldwide slump. Subsequent years have hindered further economic progress, or, in some cases, even reversed it. Greece, long the regional economic powerhouse, has been hit particularly hard. Driven by market fears over its ability to repay its debt, the country has seen its economy shrink and unemployment skyrocket, with recovery hampered by the debilitating combination of deficit-reducing austerity measures amid a protracted recession.Other countries have fared better, and most, from Romania, Bulgaria and Cyprus to Serbia, Bosnia-Herzegovina and Macedonia, have returned to economic growth within the last two years. This in turn should help solidify economic stability across the SEE region, amid deepening regional cooperation and cross-border projects.The Energy Community, established in 2005 to extend the EU internal energy market to South East Europe, is a prominent example of SEE states working together on a crucial issue. Countries that

Despite the global crisis, which has sapped the conﬁdence of investors in practically all markets around the world, the region still oﬀers unique potential

BP brief

Thessaloniki-Durres in cooperation

Tirana Mayor Ljulljzim Basa, Culture Minister Aldo Bumci and other oﬃcials.

Thessaloniki Mayor Yiannis Boutaris met with Durres Mayor Vangjush Dako and signed an agreement of cooperation between the two major seaports in the greater region. Both oﬃcials stressed that the cooperation agreement, which precedes the twinning of the cities to take place during a visit to Thessaloniki by the mayor of Durres scheduled for the next few months, will cover economic, cultural and tourist sectors. Boutaris also met with Prime Minister Sali Berisha and invited him to visit Thessaloniki, with

Romania to absorb 6b EU funds Romania aims to attract this year three times more European funds than it has absorbed in the first five years since accession to the European Union, according to Leonard Orban, minister of European affairs.Romania only absorbed EUR 194 million in EU funding in the first three months of this year. The absorption rate in proportion to the country’s total allowance of EUR35.4 billion for 2007-2013 is currently 24%.

Montenegro -UAE sign Treaty

The United Arab Emirates (UAE) has signed a double taxation agreement (DTA) and an investment promotion and protection treaty with the Republic of Montenegro, reports Daily News Montenegro.The documents have been signed in Abu Dhabi, by Biljana Scekic, Montenegrin Deputy Minister of Finance, and Undersecretary of the Ministry of Finance of The UAE HE Younis Haji Khouri . the agreements aim at protecting and promoting mutual operations, and at providing tax and financial benefits for public and private sector investments.

Bulgaria’s

economic growth forecasts Soﬁa

Echo reports that recession fears in Europe have led to a correction in economic forecasts for Bulgaria.While in autumn 2011 analysts and international institutions predicted GDP growth Kristof of two to three per cent for the country, most of them have alPavlov ready revised their expectations Unicredit to less than 1.5 per cent. This is Bulbank’s Chief Economist no surprise given that two-thirds of Bulgarian export goods and services are bound for Europe. And given tight consumption and investments in the country, exports can be the only propeller of the national economy, the report said. Bulgarian National Bank is most conservative in its predictions, expecting GDP to grow by 0.7 per cent in 2012. Bulgaria’s Finance Ministry has revised its forecast to 1.4 per cent. A couple of banks, whose analysis is reputable, also revised their predictions to about one per cent. Raiﬀeisenbank, for instance, emphasises that the slowdown in the euro zone has been taking its toll on the local economy. UniCredit Bulbank’s chief economist Kristofor Pavlov expects a stronger second quarter, the report said, quoted by Focus.

The Internet

will take Greece out of crisis

The internet will contribute an estimated 3.6 billion euros to the Greek economy by the year 2015. According to recent research, “The internet factor: The World Wide Web as an instrument for the development of the Greek economy,” carried out by Vassilios international consulting firm Antoniades “The Boston Consulting Group (BCG)” in collaboration with Director BCG Athens Google, the digital economy can play a catalytic role in helping Greece get out of the crisis. On top of that, if the country makes generous investments in the internet, it is calculated that the sector’s contribution to the economy could amount to 6.5 billion euros. The internet appears to increase companies’ profits, even amid the crisis, according to Vassilios Antoniades, Managing Director of BCG in Athens. Small and medium enterprises that make intensive use of the internet report higher revenue compared to companies of the same kind that have a more limited online presence, and the former seem to have been affected to a lesser degree by the crisis. . At the same time, online advertising is growing fast, reaching 73 million euros in the year 2010 (with an annual growth rate of 52%, with 2006 as reference year). The goal for the coming years is investing in the internet, which is unexploited terrain for Greece.

Total Area

28.748 km2

SE EUROPE

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Population

3.345.550m

Calling Code

+355

GMT

Internet TLD

Currency

Lek

ALBANIA

Developing

B2B news

tourism infrastructure

In the heart of the Mediterranean, on the Adriatic and Ionian Seas, Albania is fast becoming one of the world’s most interesting getaways. In 2010, tourism in Albania had the greatest increase in the world with a 42% growth. Albania has much to offer: a sunny Mediterranean climate, delicious food, kind and welcoming people, a laid back attitude, a rich history, an old culture, unique traditions, beautiful landscapes with mountains, rivers and a magnificent coastline. The country today offers not only beach and mountain holidays, but also a vibrant city life. International hotel chains are established in Tirana while the city hosts cultural and business events. Albania is also home to three World Heritage Sites: Butrint, an ancient

[

Bank Deposits grew Greek and Roman city, Gjirokastër, a well-preserved Ottoman medieval town and Berat, the ‘town of a thousand and one windows’. As part of UNESCO membership, Albanian sites are being awarded funds for the reconstruction of important landmarks. The World Bank and other donors ﬁnance regional master plans and public utilities infrastructure projects. In the professionalism aspect, the European University for Tourism (EUFT) opened in Tirana to better train hospitality sector personnel. Coastal-bound roads have been reconstructed, while private businesses have heavily invested in acceptable accommodation and in keeping clean the surrounding environment. In addition, well-known tour operators are including Albania as part of their Balkan region packages.

Albania’s strong &weak points

Weak Points

1.A strategic geographical position (with ports on both the Adriatic and the Ionian Sea). 2.Signiﬁcant natural resources . 3.Cheap manpower;Prospects of joining the EU.

1.The Albanian economy remains fragile and is heavily dependent on foreign organizational aid. 2.Competition is not always fair 3.Corruption exists but eﬀorts are being made to ﬁght it 4.Taxation &Customs systems need to be improved.

Czech Businesses

Economic Sentiment and Consumer to Invest in the Country Conﬁdence down

FOREIGN TRADE IN FIGURES Source: World Trade Organisation (2010)

Insurance market down

]

Strong Points

Czech Prime Minister Petr Nečas visited Albania. At the end of the visit Albanian Prime Minister Sali Berisha and his Czech counterpart attended the Albanian-Czech Business Forum Attending the forum were representatives of 15 Czech businesses and about 30 Albanian businesses, members of the Cabinet, Czech ministers of economy and transport, Tirana Mayor, representatives of the Czech diplomatic mission and other guests. At the end of the event it was signed the Joint Protocol between the Ministry of Economy, Trade and Energy of the Republic of Albania and the Ministry of Industry and Trade of the Czech Republic.

Statistics from Albania’s Central Bank show that bank deposits both in Albanian Leks and foreign currency increased in February 2012. Deposits in USD increased to 426 million USD, in Euros reached 2 billion and in Leks also increased to 371 billion.

The Economic Sentiment Index in Albania fell by 2.5 percentage points in the first quarter of 2012, according to Albania’s Central Bank. The Industry Confidence Index slid by 3.5 percentage points in the first quarter of 2012, while it stands 5.4 percentage points below its long-term average. The Construction Confidence Index fell by 1.4 percentage points in the 1Q, standing at an historic low of 22.1 percentage points below its long-term average. The Services Confidence Index was up 3.2 percentage points in the first quarter, nonetheless it stands below its long-term average.

*Imports of Goods (million USD) 4.601 *Exports of Goods (million USD) 1.550 *Imports of Services (million USD) 1.893 *Exports of Services (million USD) 2.109

Albania’s insurance market shrank by 24.61% in the first two months of 2012, according to Albania’s Financial Supervisory Authority. Non-life insurance fell 23.93% year on year, whereas life insurance slid 35.16% compared to the same period the previous year.

Retail sales index up Albania’s retail sales index for the fourth quarter of 2011 rose slightly by 0.2% year on year and 6.8% compared to the previous quarter, according to figures released by Albania’s National Institute of Statistics (INSTAT)

Tourism revenue up 17% Tourism revenue in Albania amounted to EUR1.3bn in 2011, up 17%The number of tourists in the country last year rose by 30% to 2.3 million, newspaper Hermes News reported, quoting central bank data.

Lower mobile phone rates Mobile phone rates in Albania are expected to be further cut down in September. The head of Albania’s Electronic and Postal Communications Authority declared during the annual report before the Parliamentary Committee on Productive Activity that this institution has established a scheme in which mobile charges are reviewed every September.

VAT Removed for Imported Machinery The Regulatory Task Force chaired by the Albanian Prime Minister Sali Berisha decided to remove the Value Added Tax for imported machinery and equipment.

SE EUROPE Business Taxation

Public Debt

Unemployment rate

Labour force

10%

59.4%

13.4%

1.053 mln

of GDP (2011)

Most Popular Places for Buying Property The key to investment success is finding untapped markets that are set and primed for an economic boom. This is exactly why so many investors are rushing to get involved in the Albanian property market. Albania consists of lengthy stretches of pristine beach front and its beauty rivals that of any other major European market. In the last few years there has been a steady and dramatic rise in tourist activity and construction within Albania. While property prices and tourism rank lower than most of the major European countries, Albania is steadily climbing the charts and is primed to become an economic powerhouse. There have been major developments especially with regards to road construction and maintenance, airports, ports of entry and telecommunication systems. The new infrastructure developments within the financial sector have increased the appeal of Albania to foreign investors. If you are a foreign investor of property abroad, then you have probably looked into the country of Albania to buy property. Most of the popular places to buy property in Albania sit on the Adriatic coastline. The capital of Albania still remains the most popular place to buy property for foreign investors and although it isn’t exactly right on the coast, it is still near. If you are looking to buy property here you will more than likely be looking to purchase a city apartment. These are being built at an alarming rate and there are some good deals. The city also has eight of the top universities in the entire country, making it a great educational place. Another popular place to buy in the country is in Durrës. This is the former capital of the country and it has a coastline on the beautiful Adriatic Sea. If you are looking to buy a property in this area then the best route for investment is to buy a beach front property. As the tourist industry grows in the country so will the value of these properties. All major investors are predicted extreme economic growth in the area due to an increase in tourism. More and more people are starting to take notice of this uncultivated jewel along the coasts of the Adriatic Sea. In hindsight, Albania offers all the advantages that can be found in other major tourist hotspots within Europe but at a fraction of the price. This is a statistic that will not be present for long. Over the past few years, property prices within the country have risen on an average of about 20%, and up to 200% in some of the more popular areas. There are also predictions by many seasoned investors that the price will continue to rise up to 30% annually after Albania finally becomes part of the European Union. As a foreign investor, there are no restrictions that are applied to your investment opportunities within Albania. On top of this, purchase prices are extremely low in comparison to other areas, while rental costs are significantly higher. As the market for tourist continues to rise, so will your investment in Albanian property.

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GDP percapita

Inﬂation rate

3.353 €

3.9%

(2010)

(2011)

The Country in Pictures Essentials

Mother Teresa Airport Tirana

Municipality of Tirana: www.tirana.gov.al Email: info@tirana.gov.al How to access the country By air, International Airport Tirana.:

www.tirana-airport.com.al By sea, through main ports: Durrës, Vlora,Shëngjin Saranda.

By roadways from Montenegro, Greece, Macedonia-FYR,Kosovo Climate : Albania has a mild, Mediterranean cli-

City Highway Tirana

mate. The Ionian Cost, in particular, is very clement; with aver age winter temperatures of 8-10 °C When to visit :Summer is the peak tourist season. The best time to visit Albania is spring or autumn Hotels Sheraton Tirana Hotel www.sheratontiranahotel.comRogner Europapark Hotel, www.hoteleuropapark.com Diplomat Fashion Hotel www.diplomatfashion.com

Restaurants

University of Tirana at night

Sky Club Panoramic Bar & Restaurant www.skyhotel-al.com, Email: info@skyhotel-al.com Sarajet restaurant,www.sarajet.com Email:rezervime@sarajet.com What to buy carpets, figurines, silver and copper articles, woodcarvings, ceramics and needlework. International events International Trade Fair Albania 2012, Palace of Congresses and International Center of Culture (Tirana), 24 Nov-to 28 2012 Tirana International Film Festival, 23/11-2/12/2012 http://www.tiranafilmfest.com/ Universities University of Tirana www.unitir.edu.al Email: info@unitir.edu.al Kristal University www.kristal.edu.al info@kristal.edu.al

Business info Tirana Chamber of Commerce and Industy www.cci.al More info National Agency of Albanian Tourism

www.albaniantourism.com Toptani Shopping Center Tirana

Albanian economy growing but most families affected by the crisis The economic crisis has affected the majority of families in Albania, with 60% of Albanians saying that they have noticed a ‘’significant’’ effect on the progress of the economy, compared to an average of 50% in South-eastern Europe. The figures are included in the ‘Transition Report 2011’, by the European Bank for Reconstruction and Development (EBRD), which presented the document on Albania in Tirana. The report states that suffering amid the economic crisis is felt despite the fact that Albania’s economy is growing, and is due to rise by 1.2% in 2012, the EBRD says. Since 1992, the CEI Fund at the EBRD has supported 27 technical assistance projects, worth a total of 6 million euros, in the energy, transport, agriculture and institutional development sectors. (ANSAmed).

Tirana city view

Mobile: +355 69 40 00 711 Oﬃce: +355 4 45 00 584 Durres Fortress

Total Area

51.197 km2

SE EUROPE

BUiLD PRESS

Population

3.345.550

Calling Code

+387

GMT

Internet TLD

Currency

.ba

BAM

BOSNIA

HERZEGOVINA

Saudi

B2B news

investors in Bosnia

Banja Luka airport & Austrian Airlines

Saudi investors will invest in Bosnia with $50 million starting capital and Turkey said that one of its banks will extend credit lines for infrastructure projects, Reuters reports. The Islamic Development Bank (IDB), Al Baraka BARKA, BH banking group and other Saudi investors have formed a joint investment company for Bosnia, said Saudi Arabia’s Sheikh Saleh Kamel, the chairman of the Islamic Chamber of Commerce and Industry.“The $50 million will be our investment by the next forum to enhance the development and investment in Bosnia,” Kamel, who is also founder and chairman of Bahrainbased Islamic bank Al Baraka, told a business conference in Sarajevo in April. “It is a venture capital to look for the investment opportunities and prepare everything and then bring investors to invest.” Turkey’s Economy Minister Ali Babacan said that

[

Sarajevo Business Forum- 2nd International Investment Conference Turkey was interested to invest in Bosnia and the wider Balkans, and announced that Turkish state import-export lender Eximbank will extend credit lines for projects in Bosnia.“Eximbank is now fully ready to ﬁnance major investment projects in Bosnia, roads, energy and any infrastructure projects,” Babacan told the conference. “We believe that companies, investors who act now will get good results.” Rifat Hisarciklioglu, the president of Turkey’s Union of chambers of commerce, said now was a good time to invest in the Balkans as all countries were progressing towards membership of the European Union.

B.H’s strong &weak points

DD TV arrives soon Digital terrestrial television (DTT) should arrive by the end of autumn 2012 in Bosnia and Herzegovina, initially in the cities Sarajevo, Banja Luka and Mostar according to the Ministry of Transport and Communications.

Aluminij sees $6.6mln loss in 2012

]

Strong Points

Weak Points

1.One of the fastest growth rates in the region (around 5% per year) 2. lowest inﬂation rates in the region(below 5% ) 3.Country’s candidacy for EU and WTO accession. 4.One of the most stable currencies in the region, directly linked to the euro. 5.A well developed banking sector. 6.Low corporate income tax (10%).

1.A complex legal and regulatory framework, with a country divided into two governmental entities; 2.A lack of transparency in business procedures,especially in calls for public tenders,which are not always transparent 3.Weak judicial structure.

Opening of the biggest shopping mall

EU funds

The largest shopping and business centre in Bosnia and Herzegovina „Mepas Mall“ opened in Mostar in presence of more than thousand guests from political, social, religious, cultural and other segments of public life according to FENA, the Federal News Agency. The investment is worth 100 million BAM and building of this super modern facility started on 31st May 2010. It is built on land in the city center on which there was once the Old Hospital and nearby is the site of the future sports and cultural center.The centre has about 90 office spaces, and 69 are already under lease. It will employ around 700 people and 300 other in the future.The centre has 100.000 square meters, and it brings more than 100 world brands to Mostar such as Bershka, Stradivarius, Zara, Pull&Bear, New Yorker, Terranova, S’Oliver and other. The centre will set new standards in the offer of commercial, entertainment, culinary and business content. It consists of three underground levels, ground floor and five floors of commercialshopping centre. The sixth floor also houses business facilities and a convention hall, which can be divided into three smaller ones, and there is a hotel on the seventh floor.

Austrian Airlines could begin flights from Vienna to Banja Luka, either during the 2012/2013 winter season or the 2013 summer season. Head of the airport said talks are likely to be held in either May or June.

Sarajevo library rebuilding The European Union will fund the last phase of restoring the national library in Sarajevo. The final part of the library’s reconstruction, valued at 4.9 million euros, should be finished by April 2014, Sarajevo mayor Alija Behmen said after signing the accord with EU special representative in Bosnia Peter Sorensen. Sorensen said the “protection of cultural heritage is of crucial value for the EU, as we are committed to respecting diversity and identity.”The library was built in 1896 in a pseudo-Moorish style. Its reconstruction began in 1996, financially supported by a number of European countries.

Bosnia’s sole aluminium smelter, Aluminij Mostar, expects to lose 10 million Bosnian marka ($6.7 million) this year, but that would rise if electricity prices go up reports Reuters. Aluminij is Bosnia’s top exporter, with annual output of around 160.000 tonnes of metal.

Hypo Alpe Adria Bank increased capital

Hypo Alpe Adria Bank increased capital in the amount of 20 million convertible marks (KM). The project was realized through the direct payment of funds by the International Hypo Bank in the reserve fund of the Bank.

M:tel posts $72.6 million net profit Bosnia’s second-largest telecoms firm m:tel posted a 2011 net profit of 107.4 million Bosnian marka ($72.6 million), little changed on the year before, and said it expects a similar result in 2012 as the economy continues to stagnate.

Water supply infrastructure expansion The EBRD is helping to improve the quality of water services in Bosnia and Herzegovina with a €5 million sovereign loan to finance the expansion of the water supply infrastructure in the municipality of Capljina, in the southern part of the country.

Co 11 11 untrie in Citie s S s

SE EUROPE Business Taxation

Public Debt

Unemployment rate

Labour force

10%

44% of GDP

43.3%

2.6 mln

(2011)

(2010)

Sarajevo voted

best city to visit The travel website foxnomad.com has endorsed Sarajevo as a top vacation spot for 2012. Bosnia and Herzegovina’s capital beat out Guimaraes, Portugal, in the finals, after besting a string of Mediterranean opponents such as Izmir, Fethiye, Seville and others in the earlier stages of the competition. Sarajevo is a lively city of 430.000 people (urban area), one of the most historically interesting and varied cities in Europe, a cosmopolitan capital with a unique Eastern twist that is a delight to visit. The cultural, natural and historical heritage of the city is amongst the most fascinating in all of the Balkans-for it is here that the great eastern and western powers met and left their influences in this largely unknown corner of the world. Tucked into one of the most mountainous regions of the country, lending to its isolation yet creating a warm, welcoming feeling in the small communities in and around the capital, the region has a lot to offer. There is very little crime, and the city ranks as one of the safest in South Eastern Europe. What to see : Old Town: The cobbled streets, mosques and Oriental style shops at the heart of the city. Latin Bridge: This bridge was the location of the 28 June 1914 assassination of Archduke of the Austrian Hungarian empire Franz Ferdinand, the event that sparked the beginning of World War I. A plaque commemorates the event. Yellow Fortress: The small fortress provides a great view of the city. Vrelo Bosne: The beginning of the river Bosna where the water is pure and ice cold. In less than 20 minutes on foot from the city centre, you are out in the countryside, with no suburbs in between: unique for a large city. Here you can walk in a beautiful park, picnic and spend the whole day without ever getting bored. Vijecnica (City Hall), Obala Kulina Bana. Morica Han (Morica Inn), Saraci (Old town) :The only preserved Ottoman Inn in Sarajevo. The first floor used to contain 43 rooms for travellers, mostly traders, houses nowadays a carpet shop and a traditional restaurant with engravings of Rubaiyat of Umer Khayam, the famous 12th century Persian poet. Sebilj (Fountain), Bascarsilja (Old town).

BUiLD PRESS

GDP per capita

3.586 €

3.8% (2011)

The Country in Pictures Essentials Municipality of Sarajevo www.sarajevo.ba/en/ Sarajevo: New International airport

To Ploce Highway

Sarajevo: Burch Univercity

Adventure tourism in BH

Inﬂation rate

Sarajevo: Grand central shopping Mall

How to access the country The capital city is easily accessible by air, bus, or train from any major European destination. Sarajevo International Airport: www.sarajevo-airport.ba Climate Sarajevo temperatures range from minus 2°C winter, up to 27°C in Summer time When to visit The best time to visit is from May to September Hotels Europe Hotel, www.hoteleurope.ba Email: reception@hoteleurope.ba Holiday Inn Hotel, www.holiday-inn.com/sarajevo, Email: holiday@bih.net.ba Radon Plaza Hotel, recepcija@radonplazahotel.ba, Email: www.radonplazahotel.ba Restaurants:The Club soundstage & bar & restaurant, Email: theclub.sarajevo@gmail.co, Restaurant Kibe Sarajevo www.restaurantkibe.com Email: restorankibe@hotmail.com What to buy: Visoko and the central Bosnia region are well known for their leather work. International events: International Festival Sarajevo (winter)A traditional gathering of artists and citizens from all around the world. www.sarajevskazima.ba International Theatre Festival Teatarfest (May) www.tf.com.ba International Music Zestra Festival (June-July), www.zetrafestival.ba Introduces famous pop and classic music artists Universities School of Economics and Business in Sarajevo, www.efsa.unsa.ba/ef/ E-mail: efsa@efsa.unsa.ba,Sarajevo Graduate School of Business, www.sgsb.ba/index.html Email: info@sgsb.ba Business info: Chamber of Commerce & Industry Sarajevo Canton www.pksa.com.ba More info: Tourism association of Bosnia & Herzegovina, www.bhtourism.ba tourinfo@bih.net.ba

Bosnia and Herzegovina is becoming a more interesting touristic destination every year which is shown in the fact that the most famous tourism website “Lonely Planet” has recommended BH as a destination that tourists definitely have to visit. One of the segments highlighted is adventure tourism with possibilities of a beautiful rafting experience in the rivers Una and Neretva. BH had successfully organized the rafting world cup in May 2009. Sarajevo: City view

Sarajevo Film Festival SFF is the premier and largest film festival in the Balkans and is one of the largest in Europe. It was founded in 1995, is held in August and showcases an extensive variety of feature and short films from around the world. The festival grew at a remarkable pace, attracting tens of thousands of people a year, as well as foreign celebrities such as U2’s Bono, Willem Dafoe, and Angelina Jolie. By 2001, the European Film Association made the Sarajevo Film Festival one of the eleven festivals that could nominate a film for the award of “Europe’s Best Short Film”. http://www.sff.ba

Sarajevo: Bascarsija square

Telephone: + 387 61 927 729 www.realestatesarajevo.com info @ prestigesarajevo.com

SE EUROPE

BUiLD PRESS

Total Area

Population

Calling Code

GMT

Internet TLD

Currency

110.994 km2

3.345.550

+359

.bg

LEV

Inﬂation and Unemployment Worry Bulgarians Novinite (Soﬁa News Agency)

Bulgarian consumers’ sentiments trend downwards as

prices of staple foods hit record highs, a survey shows, conducted by market research institute GfK. The survey was conducted in Austria, Bulgaria, Germany, Greece, Spain, Italy, Poland, Portugal, Romania, France and the Czech Republic. The 12 countries represent about 80% of the total population in the 27 member states.There was no hope for higher incomes among Bulgarians in the first quarter of 2012, while fuel prices remained the main factor for inflation, according to the poll. Consumers are afraid that the prices of electricity and transport services will also rise and will contribute to increasing inflation.Bulgarians are also very much concerned about a looming rise in unemployment rate, which currently stands at about 11%, but is expected to hit 19% by the end of the year.“Given the looming decline in GDP for the first quarter of 2012, we expect the budget deficit to be significantly higher than envisaged in the budget, putting at risk public investments and the payment of pensions,” according to the Bul-

[

garian Industrial Chamber.It points out a number of factors, drawing the economy into negative territory, including a sharp decline in domestic consumption, industrial production, investments and increasingly negative trade balance. Bulgaria’s economy is expected to shrink in the first quarter of 2012, to be followed by a few more quarters of falling output, entering a technical, recession, the Institute for Market Economics (IME) forecast. Tumbling levels of exports and industrial production show that Bulgaria’s economy is already feeling the chill from the euro zone,according to the experts.Economists say the most troubling indicator is that in the period January -February 2012, the total value of the exported goods reached almost BGN 5.7 B, down by 6.1% on an annual basis.Bulgarian exports to third countries also decreased, marking a 2.6% fall compared to the corresponding period of the previous year and amounted to BGN 2.3 B.A mix of global slow-down, restricted financing and withdrawing investors have brought Bulgaria’s construction sector to a stalemate and according to the analysts it has been sliding ever more firmly into negative territory for the fourth year in a row with little hope for revival in the short term. Bulgaria’s retail market continues to be on a downward trend, despite the retail concentration within malls, which have taken the role of new urban shopping, and leisure centers over the last couple of years. Earlier this month Bulgarian analysts and institutions unanimously cut their growth forecast for 2012 to just below 1.5% instead of the previously forecast 2-3%, citing slumping exports and stagnant domestic demand. The central bank BNB estimated Bulgaria’s economic growth to slow-down to 0.7% in 2012, citing the sovereign-debt crisis in the euro area.

Bulgaria’s strong &weak points Strong Points

Weak Points

1.An advantageous taxation system for investors. 2. A sizeable workforce that is skilled and cheap. 3. Very low cost of living. 4. Its membership to the European Union. 5. A strategic geographical position.

1.Inefficient bureaucracy 2.Slow judiciary system 3.Corruption 4. A significant amount of the population having limited revenue.

]

50M leva for

Less FDI in

The Sofia Echo reports that Bulgaria has allocated a total 50 million leva to support business start-ups by people who are currently unemployed. At least 2500 people will receive grants of up to 20 000 leva for their start-up; the money can be spent to train staff, buy equipment and materials necessary for the company’s operation, to carry out office repairs or even as salaries for staff (but for a period no longer than three months). The funds have been allocated from European Union’s operational programme for human resources development, according to Labour Minister Totyu Mladenov.Eligible applicants have to be registered as unemployed and have completed management and entrepreneurship qualification courses or have other qualification and skills required for managing their own company, according to the ministry.

Bulgaria received only €85m in foreign direct investment in the ﬁrst two months of 2012, according to preliminary data from the Bulgarian National Bank.FDI in Bulgaria in January-February 2012 amounted to €84.6m (0.2% ofGDP),compared to €333.2m (0.9% of GDP) in January -February 2011.By country, the largest direct investments in Bulgaria for January-February 2012 were those of the Netherlands (EUR25.4m),South Korea (EUR16.6m)and Russia (EUR13.1m).The largest negative ﬂows from Bulgaria for the period were towards UK (EUR -9.3m) and Sweden (EUR-7.6m) mainly due to net payments on intercompany credits in accordance with the loan repayment schedules of enterprises, the bank said.According to preliminary data in January-February 2012 Bulgaria’s direct investment abroad amounted to EUR 17.2m, compared to EUR33.9m in January February 2011

business start-ups

January-February

BULGARIA B2B news Households financial wealth up The financial wealth of Bulgarian households increased by four billion leva in 2011, but the value of their real estate value was down to 207.9 billion, the latest quarterly study of household wealth by local bank UniCredit Bulbank said.

Exploring Conventional Gas Deposits Bulgaria is launching a public procurement tender for the study and exploration of possible gas deposits in the Black Sea continental shelf. The reported deadline for the bidders is May 30, 2012 according to the Bulgarian Dnevnik daily

Industrial Production Drops Bulgaria’s seasonally adjusted industrial production index decreased by 2.1% in February 2012 as compared to the previous month, according to preliminary data released by the country’s National Statistical Institute. The most significant decrease was observed in the production of “other nonmetallic mineral products” (by 32.4%), while the manufacture of paper and paper products saw the highest increase (by 16.8%). the production of intermediate goods by 9.2% and in the production of energy by 8.2%, while the production of investment goods increased by 8.8%.

Business climate improves Bulgaria’s business climate has improved by 2.3% in March 2012 as compared with February. The business climate has remained virtually the same as the previous month’s in the industry and construction sectors, while an improvement has been registered in retail trade (by 2.4%) and services (by 9.2%).

SE EUROPE Business Taxation

Public Debt

Unemployment rate

Labour force

10%

17,5 % of GDP

11%

2.5mln

BUiLD PRESS

GDP percapita

5.525 €

Inﬂation rate

4% (2011)

Bulgaria Popular Tourist destination

The Country in Pictures

Bulgaria is one of the most visited tourist destinations

in Southeast Europe. Tourism, has been an important source of economic growth. New types of tourism, including cultural, architectural and historic tours, eco-tourism, and adventure tours, are expanding the range of visitor experiences. Bulgaria has the feel of a nation at a very important crossroads. Massive foreign investment has created a conIn 2012, Bulstruction boom, not just around the larger beach and garia plans to mountain tourist resorts, but in the cities, too. More be represented tourists than ever are discovering this country and an at 42 tourist ever-rising number of foreigners are investing in property fairs, spending here. Prices have certainly risen since Bulgaria became 4.2 million leva a member of the EU, but compared with countries in to show off its Western Europe, travellers will find it by and large a attractions, pleasingly cheap destination, and an easy and enjoyable which equals the amount one to travel round Getting around the country is easy, allocated for ad- with cheap and efficient public transport to ferry you bevertising in the tween the cities and into the remoter, rural corners, past few years. where the traditional, slow pace of life continues much as it has done for centuries. Here you’ll come across multicoloured monasteries, filled with fabulous icons. For most foreign holidaymakers, Bulgaria’s main lure is its long, sandy Black Sea Coast and the summer resorts: Sozopol, Nessebur, Golden Sands, Sunny Beach, Sveti Vlas, Albena and Saints Constantine and Helena. Further, Bulgaria has around 600 natural mineral springs, with water temperatures ranging from 20 to 60 degrees Celsius, whose baths and health spas are famous tourist attractions. It’s also worth discovering Bulgaria’s lush mountainous and forested landscapes, especially around the Rila and Pirin Mountains, inhabited by bears, lynx, rare birds and other kinds of wildlife now becoming scarce elsewhere in Europe. Winter tourist centres, such as Borovetz, Bansko, Pamporovo and Vitosha are picturesque and popular ski resorts.

Essentials Municipality of Sofia www.sofia.bg Soﬁa International airport Lobby

Highway Soﬁa

St. Kliment Ohridski University Soﬁa

Top 5 international visitors in Bulgaria in 2011 1. Romania 1.499.415 2. Greece 1.120.640 3. Turkey 860.654

4. Germany 836.845 5. Russia 469.772

Serdica Mall city center Soﬁa

Bulgarian Tourists to Pay Lower Entrance Fees The Association of Bulgarian Tour Guides (ABTG) has suggested that Bulgarian tourists should pay lower entrance fees for museums and cultural sites than foreigners. The ATBG also calls for the introduction of combined cards for public transport and tourist attractions in a bid to attract more visitors to Bulgaria’s capital. According to the Association, the fact that Bulgarians receive much lower salaries than foreign visitors of the country is reason enough to charge lower prices for llocal residents. Nikolay Mindov, Chair of the ABTG, argues that Bulgarian tourists cannot afford to pay BGN 10 to get into the National Museum of History in Sofia. Mindov adds that the National Museum of History should be moved from the Boyana residential district to a more central location in Sofia because it is currently inaccessible for a major portion of the tourists. He observes that visitors of Sofia are most often disappointed by problems that are all too noticeable to the locals like pollution and stray dogs. The ATBG also calls for opening the Parliament for visits of foreign tourists, making the the change of guards in front of the President’s Office longer and more attractive at least once a week and introducing a one-hour tour of Sofia by tram.

Ruski Pametkin junction Soﬁa

Varna Sea side resorts

How to access the country: Air, rail, road, and water transport are all well developed in Bulgaria. The country has four international airports – at Sofia, Varna, Plovdiv and Burgas. Climate: The climate in the country is temperate continental, with Mediterranean influence in the southern parts. The Black Sea influences the climate in the eastern part of the country. When to visit: Spring is an excellent time to visit.The high season along the Black Sea coast is July to late August; at the ski resorts, it’s Christmas/New Year and February to mid-March. Hotels: Arena di Serdica Residence Hotel www.arenadiserdica.com Radisson Blu Grand Hotel Sofia, www.radissonblu.com/hotel-sofia, Metropolitan Hotel Sofia www.metropolitanhotelsofia.com Restaurants: Brasserie Restaurant, Sofia, http://brasserie-bg.com Incanto, Sofia Tel: 089/ 69 69 900 What to buy: Bulgaria’s most famous export is undoubtedly rose oil. Rakia: intense but flavourful brandy. It’s usually made from grapes, but can be made from apricots or plums as well. International Events: Sofia International Book Fair, Email:bba@otel.net, Bulgaria Salsa Festival Email:info@bgsalsafiesta.com Sofia Music Weeks, May - Jun 2012 (annual), Email:sofiamusicweeks@abv.bg Universities: Sofia University www.uni-sofia.bg University of Nation and World economy, http://www.unwe.bg Business info Bulgarian Chamber of Commerce and Industry //www.bcci.bg/ Email: office@bcci.bg More info: Official Tourism Portal of Bulgaria http://bulgariatravel.org/

SE EUROPE

BUiLD PRESS

Total Area

Population

Calling Code

Internet TLD

Currency

56.594 km2

GMT

4.290.612

+385

.hr

KUNA

Economic overview Croatia should become the 28th member state of the EU in July 2013. In 2012, the Croatian economy, already oriented heavily towards Europe, remains nonetheless very dependent on the regional situation. Following the 2009 recession (-6% growth in 2009 and -1.2% in 2010), in 2011 its economy registered a slight increase in its GDP (0.5%). The country had adopted measures to boost its economy ahead of the ﬁnancial crisis and had injected liquidity into the domestic banking sector which was then used to better cope with the eﬀects of the

B2B news

crisis. The key economic drivers in 2011 showed negative growth rates (Industry: -1.3%; construction: -7.3%). However, tourism revenues, which stabilized in 2010 after a decline of 6% in 2009 (EUR 6.5 billion), increased in 2011. It seems that growth now depends on investment, on making use of the country’s comparative advantages. With its inhabitants, whose average revenue corresponds to 65% of the EU average, as well as an inﬂuential diaspora, Croatia remains the second most developed economy of the Balkan region after Slovenia.

Economic Indicators 2012 In January, industrial production declined 3.4% over the same month last year, which nearly doubled the 1.8% drop observed in December.

[

According to the statistics office, the January figure mainly reflected a fall in manufacturing. In January consumer prices fell 0.4% over the previous month.

Croatia’s strong &weak points

Strong Points

1.An advantageous geographical location along the Adriatic Sea. 2.A skilled multilingual workforce. 3.Good infrastructures, Croatia continues to invest heavily in transportation, telecommunications and energy infrastructures. 4.An entry gateway to the EU: Croatia will become a member in 2013.

Weak Points

]

1.The country suﬀers from certain structural weaknesses. 2.Private foreign debt and a trade deﬁcit. 3.It is more known for tourism than as and investment opportunity. 4.The legal and administrative systems are slow and could use some improvement.

First neighbourhood shopping centre Private equity company Bluehouse Capital is to invest 50 million Euros in building a new ‘neighbourhood’ shopping centre, the ﬁrst of its type in Croatia.The shopping centre, to be built in the suburb of Vrbani in the capital Zagreb, will be designed like a city, with ‘neighbourhoods’ devoted to fashion, leisure and sport. It will have more than 50 stores and around 500 parking places.“We want the new shopping centre to become the main neighbourhood square, considering around 60.000 people live around it, and also to become the daily gathering place of the locals of west Zagreb, said Bluehouse Capital’s Igor Hrzic.Bluehouse Capital own more than 50 shopping centres with interests in Greece, Romania, Serbia, Poland, Czech Republic, Slovakia and Hungary. Building will begin this spring on the new shopping centre, reported portal politika plus.

Croatia seeks investors According to ANSAMED over 20 investment projects in the tourism, infrastructure and services sectors in Croatia are seeking investors. Croatia is back in Italy with the project ‘Be Croactive’, launched in 2007 by the Croatian Chamber of Economy with the aim of promoting Croatian products and attracting investors to the country. In this way Croatia is fostering the involvement of foreign countries in the Expo Italian Real Estate, set

CROATIA

to take place between June 5 and June 7 at the Fieramilano exhibition grounds. Among the investment opportunities selected is the Paman Resort, a 700-million-euro project which concerns the island by the same name in front of the city of Zara for the creation of a luxury resort with integrated services for 5.000 beds; the modernisation and extension of the Rijeka city airport, which with 16 million euros in expenditure aims to improve services and facilities for passengers; and the shopping centre Colloseum City Park, in the city of Slavonski Brod (13 million euros). Tourism is one of the country’s most important sectors, and in 2011 it generated revenue of 6 billion euros (18% of GDP).

EBRD supports women entrepreneurs The European Bank for Reconstruction and Development (EBRD) has launched a project co-financing entrepreneurship support for women only in Croatia. Some 30 projects will receive support of up to 10.000 Euros each, as the initiative aims to increase women’s entrepreneurship in the country.

Hotel Palace opens new fitness centre The oldest hotel in the Croatian capital Zagreb, Hotel Palace, this year marks its 105th anniversary by announcing the opening of a new fitness and wellness centre in the hotel in May.

Lowest level ever of patent applications Croatia recored its lowest levels ever of patent applications (from 317 to 251 annually) reported the World Intellectual Property Organization (WIPO). The State Intellectual Property Office have said that recent budget cuts will probably lengthen the average time of granting patents, where now the process can take up to between three and seven years, reported daily newspaper Novi list.

New Kaufmann shopping centre The Linz-based retail group Kaufmann have opened their third shopping centre in Croatia. In total all three centres now have over 153.000 square metres of retail space. Last year the other two centres had around 13 million visitors.

Bulk cargo carrier launched in Split Local Split shipping company Jadroplov won the contract to build the ship, Hull 470, which was designed to transport bulk cargo. The length of the bulk carrier is 189.90 metres, with a width of 32.24 metres and 17.10 metres height. The load capacity is 51,900 tons and its main engine weighs 211 tons, which will be powered by engines of 7,500 kW(kilowatts), allowing it to reach speeds of 14.50 knots.

Co 11 11 untrie in Citie s S s

SE EUROPE

Business Taxation

Public Debt

Unemployment rate

Labour force

20%

43 % of GDP

19.8%

1.534.000

(Jan. 2012)

Investing in Tourism Croatia has been one of SE Europe’s fastest growing economies. Its main foreign trade partners are Italy and Germany. Although Croatia’s history is ancient, on the economic front, it’s still pretty much a new country. It wasn’t even awarded investment grade rating until 1997. Today, much further progress has been made toward implementing structural reforms. Nearly two-thirds of the Croatian economy has now been privatized, and around 90% of bank assets are privately owned, mostly by strategic foreign investors. Italian banks have been major participants in banking privatization, and the Germans and Austrians have a stake in the banking sector, too. Other sectors attracting interest include manufacturing, cement, pharmaceuticals, power, and telecoms. Again, Croatian prominent investors come from Germany and Austria, as Tourism well as the Netherlands, Italy, and other European counMinister tries, including Slovenia and Hungary. Around 60% of the Veljko Ostojic country’s GDP is generated by the services sector: has invited German inTourism is absolutely vital for Croatia, as it’s this aspect vestors and of the service sector that creates the most income and tourists to employment. Tourism is Croatia’s largest source of forCroatia, saying eign revenue. With an unspoiled natural environment, a that the councelebrated cultural and historical heritage, and so much try has a lot to emphasis on Croatia as a tourism destination, it’s worth offer in the light of the new investigating some of the investment possibilities offered in this sector. The country certainly has great possibilities government for anyone looking to carve out a niche market. Increasmeasures aimed at stimu- ing numbers of holidaymakers are seeking vacations that involve more than simply lolling on a beach. Take the lating investwater: Croatia is perfect for nautical tourism, dive ment and improving tourism, cruising on small boats, and fishing tourism. Intourist services land, you could offer equestrian tourism, biking tourism, adventure tourism, ecotourism, or hunting tourism. Predicting tourism trends is never easy, though, and deciding on a suitable investment will involve careful study. The Croatian Bureau of Statistics publishes tourism figures on a regular basis. Data are available monthly, quarterly, and yearly. This information will certainly be helpful. Croatia’s Minister of Tourism Veljko Ostojic expects this year’s tourist season to produce a better financial result than last year and predicts earnings to reach 7 billion (bn) Euros this season, reported Croatian daily newspaper Jutarnji list.

GDP percapita

10. 380 €

(2011)

Inﬂation rate

2.3% (2011)

The Country in Pictures Essentials

Zagreb: Pleso Airport

Croatia: A1 Zagreb-Split highway

Split: University of Split

Popular destinations Istria is the most developed Croatian tourist region, closest and most easily accessible from Western Europe.Vineyards and picturesque little towns are scattered all over . Porec is probably the most visited resort in Istria, known for its hotel settlements, the Blue and the Green Lagoons, and the islet of St.Nicolas in the vicinity. Rovinj is also a famous resort, with many historical sacral buildings and Renaissance and Baroque palaces. Brijuni Archipelago consists of two large and twelve smaller islands oﬀ the west coast of Istria. The archipelago is one of the seven National Parks of Croatia. Pula is an ancient city on the southern tip of Istria, known for its 2.000 year old amphitheatre, one of the world's best preserved buildings of the kind Opatija is one of the most popular resorts on the Adriatic. It used to be a favourite winter resort of the Central European elite and aristocracy, known for its well-tended parks, small botanical gardens, numerous cosy restaurants and elegant turn of the century as well as modern hotels. Dalmatia Is the apogee of the Mediterranean, bursting with colours, fragrances and shapes. It is a region of long beaches, pine woods and the ancient towns of Zadar, Sibenik, Split (regional capital of Dalmatia and the most desirable ancient place to live in the world according to the Financial Times) Trogir, Omis and Dubrovnik (one of only three European cities ranked as a World Heritage Site of zero category by UNESCO) The islands of Hvar,Brac, Solta, Korcula,Vis,Mljet and others, although equally enchanting, are all unique in their character. Dalmatia is also known for its good wines and friendly people.

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Zagreb: GTC mall avenue

Split Diocletian’s Palace

Dubrovnik Bird’s eye view

Municipality of Zagreb : www.zagreb.hr Email katastar@zagreb.hr How to access the country By sea with international car-ferry services, by rail, by air: www.zagreb-airport.hr Climate: Interior is moderately warm and rainy, while Croatia’s highest peaks have a mountain climate.The areas along the Adriatic coast have a pleasantly mild Mediterranean climate. When to visit:For most purposes the best time to visit Croatia is in late spring or early autumn followed by summer and, lastly, winter. Hotels The Regent Esplanade Hotel, http://www.regenthotels.com/EN/Zagreb, The Westin Zagreb Hotel, http://www.hotelwestinzagreb.com Restaurants Restaurant Boban Zagreb ,http://www.boban.hr Marcellino, Zagreb http://www.marcellino.hr/en/ What to buy: tie (crovat) or the ball-point Penkala pen, lacework, cheese from island Pag, traditional jewellery from Rijeka or a bottle of Maraschino, made of marasca cherries. International Events International Festival of Small Stage Theatre, May 2012 (annual),http://www.theatrefestival-rijeka.hr Street Art Festival Porec, Aug 2012 http://www.poup.hr Universities Interntional Graduate Business School, Zagreb Croatia, The Institute of Economics, http://www.igbs.hr,Zagreb School of Economics and Management,http://www.zsem.hr/index.php/en Business info Croatian chamber of economy http://www2.hgk.hr More info Croatian Tourist htp://croatia.hr

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BUiLD PRESS

Total Area

9.251 km2

Population

Calling Code

838.897

+357

GMT

Internet TLD

Currency

.cy

EUR

Business

B2B news

Opportunities Over the last few years Cyprus has developed into a reputable international business centre especially in the services area. The services’ sector has grown rapidly. Researches indicate that in high-tech, knowledge-intensive industries the employment force has shown the greatest increase within the members of the European Union. A sector that has always provided with investing opportunities in Cyprus is the shipping area. Cyprus has for a long time being a highly reputable international shipping centre, ranking among the leading maritime countries in the world. Particularly, the Cyprus merchant fleet represents approximately 16% of the merchant fleet under EU flags, being the third largest fleet in the EU. It is estimated that the 5% of the world fleet in terms of tonnage is managed from Cyprus. Moreover, Cyprus plays a significant role as a leading ship-management centre in the world with a total of around 50 ship-management companies and approximately 100 marine related enterprises conducting their international activities from there.

[

The banking sector is also a great part of the Cypriot economy. The Financial institutions currently present on the island offer a wide range of local and international services, to corporate and individual clients. These services include insurance, mutual fund management, investment, and consulting and asset management. The Central Bank of Cyprus is responsible for the proper supervision and operation of the banking system. To this supervision lies the fact that the Cyprus’ economy was affected in a lesser degree by the global recession in comparison to all other European economies.Furthermore different sectors in Cyprus are expected to take off. For example the energy sector. There are significant and varied opportunities for investing in Cyprus’ real estate market and tourism as well. These opportunities for business, combined with the fact that the island offers a superb infrastructure, a free market economy, an EU and Eurozone membership and excellent relations with Central and Eastern Europe and the Middle East, offer an ideal package for investment in Cyprus.

Cyprus’ strong &weak points

]

Strong Points

Weak Points

1.It is a European Union and Eurozone member. 2.A corporate tax rate among the lowest in Europe. 3.A strategic geographical location at the crossroads of three continents,access to M.East markets. 4.A prosperous and stable economy. 5.Skilled, multilingual workforce. 6.High quality infrastructures, especially in the harbor sector.

1.The limited size of the domestic market should be taken into account. 2.The population is not over 1 million inhabitants.

Cyprus Church plans Huge interest to invest in banks in Cypriot hydrocarbons and energy The Orthodox Christian Church of Cyprus wants to invest hundreds of millions of euros in the country’s economy to boost jobs and beneﬁt the Church, Archbishop Chrysostomos II said “As a church, we are ready to invest so that the economy improves and people can work,” Chrysostomos said following a meeting with President Dimitris Christoﬁas, according to a transcript of his comments posted on the Cypriot government’s information website.While investment plans include banks and natural gas, the Church is especially looking at solar panels and building a power production plant, Chrysostomos said. The cost of these investments could reach tens and possibly hundreds of millions of euros, he said.

CYPRUS

As many as 89 companies have expressed an interest in researching for hydrocarbons in the exclusive economic zone of Cyprus in the context of the second round of licensing that includes 12 blocks, said Neoklis Sylikiotis, the island’s Minister for Trade.These companies have already acquired the seismic data about the survey for reserves of natural gas and more may well follow, ahead of the open bidding process set for May 11, Sylikiotis told state television CyBC.The Trade Minister stressed that this commitment to an open tender adds prestige to both the process and the Republic of Cyprus. He added that Denmark, that holds the rotating presidency of the European Union from January until June, will examine the funding regulations concerning natural gas infrastructure and transmission in the upcoming EU Energy Ministers’ Council.

Plastic card payments up Online tax payments pushed up plastic card payments by 18% compared with the year earlier to EUR 179.861.377 (EUR 180 mln) in March, according to JCC payments systems, the dominant card provider reports Financial Mirror. In the first quarter of the year as a whole, card payments rose by 13% to EUR 591 mln, compared with an increase of 11% in the first two months of the year.

Bank lending increases Cyprus bank lending in February rose 11% from a year earlier to 68.6 billion euros ($91.2 billion) as business loans rose, the Central Bank of Cyprus said. Loans to non-financial corporations climbed 12% to 31.2 billion euros. Loans to other financial intermediaries surged 27%to 9.2 billion euros.

Ryanair invests in Paphos Hotels in Paphos are taking tourist bookings from new destinations for the coming summer season.This increase is the result of low cost carrier Ryanair’s decision to base two aircraft at Paphos International airport. Ryanair will invest close to €110 million in their new venture in Paphos. They will create 600 jobs and fly to 14 destinations, offering 80 flights a week. They expect to handle 600.000 passengers a year.

Cyprus Market Exports Drop 19% The island’s market share of exports dropped by 19 percent in the first quarter of 2012, according to the Directorate General of Financial and Economic Affairs.This shows a loss in competitiveness and is a vulnerability for the economy, according to the quarterly report.

Development of old Larnaca airport The Island’s airport operator Hermes signed a multi-million Euro deal with Chinese company Far Eastern Phoenix for the redevelopment of the old Larnaca airport facility.

SE EUROPE

Business Taxation

Public Debt

10%

61% of GDP

Unemployment rate 9.7%

Labour force

(Feb.2012)

(2011)

Hope for 400.000

Russian tourists in 2012

372.500

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GDP percapita

Inﬂation rate

21.539Eur

3.5%

(2010)

(Mar.2012)

The Country in Pictures Essentials

By Poly Pantelides, Cyprus Mail

Municipality of Nicosia

Seven new airports from the Russian Federation will be offering flights to Cyprus this year, the Cyprus Tourism Organisation (CTO) said yesterday.“We hope to have over 400.000 tourists from Russia in 2012,” CTO head Alecos Orountiotis said at a news conference. Last year over 330.000 Russian tourists visited Cyprus, over 100.000 more than the year before when about 224.000 came and about 230.000 more from 2005 when 97.000 Russian people visited. Seven new airports in the Russian Federation will now be offering flights from Perm, Arkhangelsk, Kemerovo, Tyumen, Chelyabinsk, Omsk and Nizhny Novgorod.There are already flights from nine other airports in the Russian Federation: Moscow, Saint Petersburg, Yekaterinburg, Ufa, Rostov, Novosibirsk, Kazan, Krasnoyarsk and Samara.The 16 cities are located on both European Russia and Asian Russia’s West Siberian plain. Some cities are among the most populous in the Russian Federation and many are administrative centres in their region.“The Russian market is a major priority for us,” Orountiotis said. A CTO representation went over to Moscow and Saint Petersburg earlier this month and held meetings with major tourist agents, Orountiotis said adding that indications were “encouraging”. Russian investments in Cyprus in 2010 were worth €2.7 billion, 12 per cent of the island’s GDP, according to economists at the fourth Cyprus Economist Summit last March.Economists said at the summit that tourism brought in €221 million annually and was expected to rise.The government has secured a €2.5 billion loan from Russia to cover its financing requirements for this year receiving two instalments in December and January with the final €590 million tranche expected in March.The Russian market brings in the second largest number of tourists after the UK and has “grown by leaps and bounds” over the past few years, Orountiotis said.

Larnaca International Airport

Pafos-Limassol highway

Nicosia Univercity of Cyprus

RUSSIAN COMMUNITY IN CYPRUS

Russian language newspaper (Vestnik Kipra)

Radio Station Russian Wave 105,6 FM

2 Russian Schools

40.000

Russianspeaking People

Nicosia The New Shopping Mall

IMF: Cyprus’ economy will shrink by 1.2% in 2012 The International Monetary Fund (IMF) projects that Cyprus’ economy will shrink by 1,2% in 2012 and will grow by 0,8% in 2013. According to April 2012 edition of the IMF World Economic and Financial Survey, released on Tuesday, Cyprus inflation rate is expected to be 2,8% in 2012 and to fall to 2,2% in 2013. In addition, the IMF projects that the deficit of the Cyprus Current Account Balance as a percentage to GPD will be 6,2% in 2012 and 6,3% in 2013. The April 2012 edition of the World Economic Outlook assesses the prospects for the global economy, which has gradually strengthened after a major setback during 2011. The Survey shows that the global growth will be 3,5% in 2012 and 4,1% in 2013.“After suffering a major setback during 2011, global prospects are gradually strengthening again, but downside risks remain elevated”, the survey points out. The Euro area is still projected to go into mild recession in 2012 (0,3%) as a result of the sovereign debt crisis and a general loss of confidence, the effects of bank deleveraging on the real economy and the impact of fiscal consolidation in response to market pressures. In 2013, the Euro zone economies will grow by 0,9%.

Kourion Ancient Amphitheater

Limassol at night

http://www.nicosia.org.cy/ municipality@nicosia.org.cy How to access the country By plane Cyprus’ main airport is Larnaca International Airport (LCA), By boat Climate Cyprus enjoys an intense Mediterranean climate of hot dry summers starting in May and lasting until mid-September and rainy, quite mild winters from November to mid-March. When to visit Cyprus is best visited in the summer months of June–September. However, the tourist season sees the accommodation prices rise, so it is advisable to visit in the shoulder seasons of April-May or September-October. Hotels: Grand Resort ,grand@grandresort.com.cy, http://www.grandresort.com.cy/ St Raphael Resort, reservations@raphael.com.cy, http://www.raphael.com.cy/ Restaurants: Tutto il giorno romantica , http://www.tuttoilgiornoromantica.com, Domus Lounge Restaurant, Nicosia http://www.domusloungebar.com/Restaurant.htm What to buy: Delicate hand-made lace from Lefkara and Omodos has been famous for centuries. Embroidery - Fine needlework is an age-old Cypriot skill. Embroidered tablecloths, napkins and bed-linen are widely sold. Icons -many galleries offer beautifully painted copies of museum pieces. Ceramics International Events: International Festival of Ancient Greek Drama in Cyprus, Nicosia. http://www.cyprus-theatre-iti.org Limassol Wine Festival www.limassolmunicipal.com.cy/wine/ Universities University of Nicosia http://www.unic.ac.cy/ European University Cyprus http://www.euc.ac.cy/ Business info Cyprus chamber of commerce and industry http://www.ccci.org.cy/, Cyprus International Business Association, http://www.ciba-cy.org/ More info Cyprus Tourism Organisation www.visitcyprus.com/

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BUiLD PRESS

Total Area

Population

Calling Code

131.990 km2

11.305.118

+30

GMT

Internet TLD

Currency

.gr

EUR

Greece has a long entrepreneurial tradition Dimitrios Lakasas President of Greek International Business Association All of us have been on the receiving end of the highly negative image projected internationally about Greece. International media are portraying Greece as suffering from internal instability, and their headlines are entirely shaped by negative emotions.Greek exporters are making huge efforts to convince potential foreign buyers not only about the quality of their products, but also about their credibility. The problem is that even though Greek products meet all the requirements for export, they do not yet receive the acceptance they deserve abroad. I strongly believe that it is very difficult to overcome this situation, but still not impossible.The image Greece currently promotes underestimates the

positive and real opportunities of our country.Greece has a long entrepreneurial tradition and beyond this tough period there are many competitive advantages for both the country and Greek products.Moreover, Greece has a talented and skilled workforce, which is characterised by entrepreneurial spirit and openness. I believe in this entrepreneurial spirit and I can distinguish it among Greek businessmen. Despite the international adversity for Greece, the businessmen of this country survived until today because of their talent to be adaptive.And this is what I call the “Greek genius”.If the circumstances were more favourable and if there was adequate liquidity, then Greek enterprises would have had certain success in foreign markets. There is no doubt that the South East Europe region oﬀers a promising entrepreneurial environment for exporting enterprises, especially in northern Greece.This is because Thessaloniki’s geographical position makes the city the centre of economic activity toward the Balkans.Moreover, the fact that in two to eight hours any executive can be in almost all the Balkan capitals (in-

cluding Istanbul) ensures a target consumer population of 100 million people. This economic hub has the potential to become a sound base for Greek exports.Greece will find a way to get out of the crisis.I hope that it will not repeat the same mistakes of establishing our growth model on growing imports and not internationally tradable goods, but guided by extroversion, we will base our growth model on exports. Greek exports grew by 37% in 2011(estimated at value:€22.4 billion) and today contribute 10% to Greek GDP. Moreover, the country’s trade deficit was decreased significantly by 33.1% on a yearly basis. It has been clear that the private sector is the only one that can give impetus to the economic growth of our country. Greece today “produces and exports”.This is the growth model proposed by the Greek International Business Association (SEVE). We believe that only by adapting new consumer habits - consume what we produce - and by increasing our competitiveness - produce Greek internationally tradable goods at a value for money logic we will be able to get out of the economic crisis.

important market for Greek exporters

Crete lies at the crossroads of three continents. Its geographical position, in relation to product quality, creates all the conditions necessary to successfully introduce its products into foreign markets. But competition in the global market is so large that all necessary efforts must be made so that these advantages can be fully deployed in the best way possible.This is the main role of the Exporters’ Association of Crete. Providing all the necessary information, exchanging opinions on the development of the export market and the promoting Cretan products are all part of our daily work. The association, from the first years of its establishment, has launched major actions to enhance the export activity of Crete. Our vision and proposal is to combine the forces of Crete under a common umbrella, highlighting the strong regional characteristics. In line with the concept of international regional marketing, the only way to develop export strategies is by focusing on the comparative advantages and the qualitative characteristics of all the products of the island. The first step towards realising the above was taken in coordination with the Cretan participation in the International Exhibition for Food & Beverage, ANUGA 2005. For the first time, Cretan products were presented all together in a booth of 360 square metres under

B2B news FING CROSS-INN-CUT Project The Federation of Industries of Northern Greece took the initiative of implementing the CROSSINNO-CUT project, aimed at reducing the operating costs of manufacturing enterprises. The CROSSINN-CUT project is implemented within the framework of the European Territorial Cooperation Programme Greece-Bulgaria 2007-2013. The research unit URENIO of Aristotle University of Thessaloniki has developed a digital tool box in six areas of cost intervention. This tool box will be applied in one hundred enterprises located in the cross-border area. 30 companies will be selected, and a specific action plan for reducing costs will be delivered. Finally, 10 out of the 30 companies will be chosen for the application of the proposed work plan.

Exports Rise For Third Month Greek exports grew for a third consecutive month in February, data from the Hellenic Statistical Authority showed. Exports rose 1.4 percent year-on-year in February to EUR 1.25 billion compared with 1.9 percent increase in January. Reflecting weak domestic demand, imports fell 13.7 percent annually to EUR 2.3 billion. This marked a sixth consecutive decline. On a monthly basis, exports grew 3.3 percent and imports were up 4.9 percent

EU’s Biggest Arms Buyer

South East Europe Alkiviadis Kalampokis President of the Exporters’ Association of Crete

GREECE

the name “Region of Crete,” in collaboration with the Region of Crete and the Chambers of Commerce of the island. At the moment we are preparing a similar dynamic presence at the SUMMER FANCY FOOD SHOW 2012 and SIAL 2012.Furthermore, to promote Cretan products, the association has participated in numerous business missions to the Hellenic Foreign Trade Board, the Ministry of Foreign Affairs and the presidency of Greece, making its work known in the markets of many countries, such as: Armenia, Jordan, Syria, Sweden, UAE, Denmark, China etc. The countries of South East Europe are very important markets for Greek exporters and exports are increasing continuously. During the first six months of 2011 the increase was approximately 17.1%. The strong presence of Greek banks in these countries helps to open great opportunities for Greek enterprises. The success of the Exporters’ Association of Crete is due to the fact that the realisation of its vision is an essential and a daily concern. The complete support and assistance of any worthwhile effort and initiative of enterprises-exporters of Crete, the provision of the necessary information for existing and new markets, the cooperation with relevant bodies and organisations, has established the Exporters’ Association of Crete as one of the most competent bodies in the export trade.The most recent activity of the Association is the organisation in cooperation with EUROBANK EFG, the Panhellenic Exporters Association and SEVE, of the GO INTERNATIONAL business missions in Cyprus, Serbia and Romania. The event in Bucharest will take place on 11 & 12 June 2012.

Greece was Europe’s biggest importer of weapons from 2007 to 2011, despite an economic crisis which has led Greeks to having their pay cut, taxes hiked, pensions slashed and some 150.000 public workers scheduled to be ﬁred over the next three years.

SE EUROPE Business Taxation

Public Debt

Unemployment rate

20% Non distributed proﬁts (2011)

171% of GDP

21.8% (Jan.2012)

The real estate and land market of Crete

BUSINESS CLASSIFIEDS DATA WAYS SA a Greek ICT company, is looking for an IT Reseller, capable to distribute the software communicationserver,iNODE, www.inode.gr. Contact LefterisTsakirides, Lefteris@dataways.gr www.dataways.gr ANATOMIC HELP SA one of the greatest European manufacturers of orthopaedics, medical compression stockings, silicone insoles,anatomical pillows & mattresses, seeks for wholesalers/distributors Tel.+302341077192, www.anatomichelp.gr erokos@anatomichelp.com CHROMODOMI SAVVAS CHALIAMPALIAS GREEK PAINTSFACTORY Certificated thermal insulation system -ecological interior paints - exterior

dences to repair and renovate.The biggest demand is for properties between 80 and 120 square metres, while detached houses are preferred. Over the last two years real estate prices have fallen depending on the area, by 10-25%, but they are not expected to signiﬁcantly fall any further. .For newly built properties, prices are in the range of 2.2003.300 euros per square metre. They are even higher for luxury residences in good areas with a pool and so on. And for older properties, depending on their age, location and condition, prices may be in the range of 1.400 and 2.500 euros per square metre. A real estate investor in Greece and Crete should pay attention mainly to the following: the legitimacy of the real estate. If it is a plot, one should check if it has building permission, whether there are debts, whether there are liens or any other encumbrances, land servitudes, expropriations, mortgages and so on. One should also carefully check the property and look for any possible technical or other problems, including the quality of construction and the materials used in the case of an already constructed property.

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Artemis Mauraki President of Real Estate Brokers Association of Eastern C r e t e Vice President of the Pan-Hellenic Federation of Real Estate Brokers The real estate market of Greece and Crete in particular experienced a notable blooming and development during the 1990s until the years 2006 and 2007.This growth can be attributed to rising interest in Greek property by foreigners from Western European countries and, more recently, from Russia.The extent of the worldwide ﬁnancial and credit crisis has, of course, also aﬀected the real estate, land and summer residence markets. Today, the real estate markets of Greece and Crete are dominated by uncertainty and cautiousness. There is a feeling of holding back until there is some certainty as to what is going to be the general course of the economy. This state of anticipation is expected to come to an end during the second half of 2012. The types of property preferred by foreign buyers are mainly summer residences in coastal areas along the entire northern part of Crete, without totally excluding southern Crete. There is a small minority of buyers who prefer inland villages and look mainly for old stone resi-

The Real Estate Brokers Association of Crete collaborates with similar organisations in Greece and abroad. www.omase.gr

-industrial–enamel sova. www.chromodomi.gr info@chromodomi.gr KRONOS SA private leading company of canned fruits in Greece since 1971 , looking for importers or distributors. Our full range of products is canned peaches , apricots and Fruit Cocktail in different sizes and qualities. TEL +302381089795 FAX :+302381081106 info@kronos.com.gr ALKA-SA offers FRESH CERTIFIED potatoes from Kato Nevrokopi –Greece. With emphasis in quality, attractive packaging, reliable service and quality certifications we are interested in cooperation with companies from Central and East European Countries. Tel. +30 25210 46966 Fαx: +30 25210 55957 info@alka-sa.gr www.alka-sa.gr MEDAL LINES GREECE International Transports-Cus-

Labour force

3.899.319 (2011)

BUiLD PRESS

GDP per capita

19.018Eur (2011)

Inﬂation rate

3.3% (Feb.2012)

The Country in Pictures Essentials Municipality of Athens www.cityofathens.gr/ Athens International Airport

Attiki Odos Motorway

The University of Athens

How to access the country By plane Athens International Airport www.aia.gr , train www.ose.gr, boat Pireaus Port Authority www.olp.gr car and Bus www.ktel.org. Climate Greece has a Mediterranean climate with plenty of sunshine, mild temperatures. When to visit Greece is a year-round destination with four seasons of relatively temperate weather. Hotels Grande Bretagne www.grandebretagne.gr, Divani Palace Acropolis Athens www.divanis.com,Electra Palace Hotel Thessaloniki www.electrahotels.gr Restaurants Spondi Restaurant Athens www.spondi.gr Varoulko Athens www.varoulko.gr, Orizontes Lycabettus Athens www.orizonteslycabettus.gr Kitchen Bar Thessaloniki www.kitchenbar.com.gr What to buy Statues, Sponges, Pistachios, Olive oil, leather sandals, ouzo (strong liquor), blue (anti evil eye) beads, honey, herbs and the famous Greek wines International Events Acropolis Rally, Athens www.acropolisrally.gr, Athens and Epidaurus Festival www.greekfestival.gr, Thessaloniki International Film Festival www.filmfestival.gr Universities Athens University of Economics And Business www.imba.aueb. gr ,International Hellenic University www.ihu.edu.gr Business info Athens chamber of commerce and industy www.acci.gr, Economy chamber of Greece, www.bhcc.gr, Invest in Greece Agency www.investingreece.gov.gr More info Hellenic Tourism Organisation www.visitgreece.gr

Athens The Mall

toms Brokers 4, Venizelou street - 54624 Thessaloniki Greece ,Looking for freight forwarders and/or Importers to utilise our groupage service from USA to Romania via Thessaloniki port.Tel.: +30 2310 272372 Fax: +30 2310 287033 medal@otenet.gr, www.medal.gr LITOS ELISSAVET A. LITOU Our company is looking for importers in SouthEast Europe for the following products: GREEK RICE, BROKEN RICE,FETA CHEESE,PULSES, PASTA,OLIVES,OLIVEOIL. THESSALONIKI -GREECETel.+302310 553.064 litos@otenet.gr PALAPLAST S.A a Greek founded industry of plastic pipes & fittings, covering National & International markets, seeks new cooperation with companies active in the field of irrigation, water

supply&heating. www.palaplast.gr D. KAMARIS G. TR ANTAFILLIDIS O.E.Acrilix C.OFACTORY –SHOWROOM: 570 22 INDUSTRIAL AREA OF THESSALONIKI Acrilix is looking for new partners – re resentatives in Balkan coun tries for its acrylic products. Tel: +30 2310796208/688 Fax: +302310797680 e-mail: info@acrilix.gr www.acrilix.gr SOULTOGIANNIS G. & CO “PHARMACOSMETIC –DIAFARM” We are in search of an EXCLUSIVE DISTRIBUTOR in Romania for SEA WATER NASAL SPRAYS. bioplant@otenet.gr Tel:+30 2310486320 www.athomer.com DOMOTEL SA luxury hotels’ chain in Greece seeks for cooperation with travel agencies and advertising agencies also specialized in social media.

Contact Mr. Miltos Katsaros m.katsaros@domotel.gr tel: +30 2310 647400 www.domotel.gr ΝΕΟΤΕΧ SA terials, epoxy and PU flooring products, specialized building chemicals which is seeking partners across the Romanian territory, for the distribution of its products. www.neotex.eu IONIKI SFOLIATA SA producer of frozen pastry & dough is looking for distributor-exporter, for a long term business collaboration. Tsiftsoglou Nikos nikos.export@ioniki.com www.ioniki.com DADAKARIDES SALT SA Greek Salt Industry situated in Thessaloniki-Greece is looking for a serious colleague, capable to promote and extent its market in the Balkan area. Previous service will be considered. sales@dadakarides-salt.gr.

MAVVIDIS+PARTNERS is offering professional project management services for construction projects.We are specialized in the sector of industrial and commercial buildings.Tel.+30-2310531100. mail@mavvidis.com. SIRAKIAN ANDRONIKOS SOLAR MANUFACTURER Wholesale of solar collectors. Best quality in best prices. We are looking for buyers. We export all over the world. www.sirakian.gr eandronikos@sirakian.gr SINTECNO SA asks for a cooperator - distributor for its products concerning ‘’ADVANCED SYSTEMS & SOLUTIONS FOR THE REPAIR REINFORCEMENT - PROTECTION OF CONCRETE AND OTHER STRUCTURES’’. Tel. +30 210 6026020 sintecno@otenet.gr www.sintecno.gr

Total Area

Population

Calling Code

25.713 km2

2.055.004

+389

Business Taxation

10%

SE EUROPE

BUiLD PRESS

GMT

Internet TLD

Currency Public Debt

.mk

MKD

Labour force

Unemployment rate

942.395

31.2%

Investment Climate Overview As a small, open economy Macedonia-FYR continues to take active steps to attract foreign direct investment (FDI). It has enacted legislation that not only ensures an equal footing for foreign investors vis-à-vis their domestic counterparts, but also provides numerous incentives to attract such investment. Even before gaining full membership in the World Trade Organization (WTO) in April 2003, the country consistently provided national treatment to foreign investors. It has also concluded a number of bilateral investment protection treaties and other multilateral conventions that impose stricter protection standards for foreign investors. The foreign capital in the banking system is of exceptional importance because 71.3% of the banking capital belongs to foreign investors. From the total number of banks in the country, fourteen are owned by foreign shareholders, out of which four are owned by foreign banks (as of 30 September 2008). The Constitution, as the supreme law of the land, guarantees the equal position of all entities in the market, and provides for free transfer and repatriation of investment capital and profits for foreign investors. As a result of a growing interest in the country’s investment potential, a number of international companies have started operations in the country, both as greenfield projects and through different types of asset acquisition and privatization. Some of the significant foreign investors include Johnson Matthey (UK), Mobilkom Austria (Austria), EVN (Austria), T-Home (Germany), Societe Generale (France), Johnson Controls (USA), the National Bank of Greece (Greece), Hellenic Bottling Company S.A. (Greece), QBE Insurance Group Limited (United Kingdom), Mittal Steel (Netherlands), Duferco (Switzerland), and Titan Group (Greece).The sectors identified as having the most investment and/or export potential include: automotive components - information communications technology healthcare products (pharmaceuticals and medical devices) - agribusiness and food processing industry - mechanical industry - clothing, textiles and leather - tourism - metals and metal products - chemicals - energy - construction and mineral resources - tobacco and cigarettes - real estate.

AEC to lower prices for ﬁxed telephony & Internet

28.2% of GDP

GDP per capita Inﬂation rate

3.695Eur

2.8%

The Country in Pictures

Skopje city view

Travel agencies and hotel managers from Macedonia-FYR, Serbia,Montenegro,Croatia, Slovenia, Bulgaria, Turkey presented their latest and most attractive arrangements at the 2nd International Tourism Fair in Skopje. Tourism,

International brands “Carrefour”, “Zara” and “Cineplexx” are the three largest renters in Skopje City Mall, a EUR 90 million investment, which is to open in September, according to investing company “Balfin MK” French “Carrefour” will have a store of 4.650m2, whereas “Inditex Group” will bring its fashion brands “Zara”, “Bershka”, “Massimo Dutti”, “Pull&Bear” and “Stradivarius” at 4.350m2. In addition, “Cineplexx” will hold nine cinema halls, with the latest digital technology “Real 3D”.

Construction of 21 small hydro power plants Cyril&Methodius University Skopje

Twenty-one small hydro power plants with total installed capacity of 23MW and projected annual output of 87GWh are to be constructed in the country over the next three years, an investment estimated at EUR 40 million. Two Italian and eight local companies will build the hydro plants.

Skopje Northern Bypass Highway

Essentials Skopje International Airport

Skopje Mall

The World Bank has expressed readiness to support the country’s development policy with US$ 100 million towards enhancement of competitiveness and support of reforms in economy, health, education and social affairs. World Bank and IMF representatives and Vice Premier and Finance Minister Zoran Stavreski met in Washington. The WB/IMF officials stressed that the favorable conditions under which Deutsche Bank has approved a EUR 250 million loan represent a confirmation of the good image that the country has at the international capital market.

B2B news New Skopje City Mall to create 2.000+ jobs

As of May 1, the Agency for Electronic Communications (AEC) lowers prices of fixed wholesale services of Makedonski Telekom for completion of fixed telephony call, fixed network access and broadband Internet.The lowering of wholesale prices for completion of the fixed telephony call amounts to about 25 percent, the wholesale price for fixed network access reduces by almost 37 percent, whereas reduction of wholesale broadband Internet services averages at 27 percent

World Bank to allocate US$ 100 million

MACEDONIA/FYR

Municipality of Skopje www.skopje.gov.mk/en/ How to access the country By air, there are two international airports, the main airport in the capital Skopje and another in Ohrid skp.airports.com.mk By train http://travel2macedonia.com.mk,By car, By bus Climate Modified continental with Mediterranean influences When to visit The best time to enjoy is between May and September, and the peak tourist season is from mid-July to mid-August, when locals take their holidays. Hotels Holiday Inn www.holidayinn.com,Hotel InexGorica http://inexgorica.com.mk Restaurants Rest.Nacional,www.restorannacional.com.mk What to buy Handmade copies of icons, colourful pottery from Galecna, pearls from Ohrid, International Events Book Fair Skopje http://eragrupa.mk, Taksirat Festival www.taksirat.com.mk Universities:“St. Cyril and Methodius” http://www.eccf.ukim.edu.mk European University www.eurm.edu.mk Business info ICT Chamber of Commerce www.masit.org.mk. More info Tourism Organisation www.exploringmacedonia.com

Kale Fortress Skopje

Skopje Travel Market 2012 as a segment of economic development of a country, is a bridge between nations that we have to build to establish direct link between cultures and traditions. It lifts all obstacles, borders and visas,” Economy Minister Valon

Saraqini said opening the tourism fair.“The objective is the Balkan region to be transformed into a global destination that will welcome tourists over and over again every season.” the minister stated. He underlined that the Government’s policies were yielding excellent results - the number of tourists grew by 25 % in the ﬁrst two months of 2012.

30 Total Area

SE EUROPE Population

13.812 km2 625.266

Calling Code

GMT

+382

Business Taxation

Unemployment rate

11.5%

Internet TLD

Currency

.me

MKD

Labour force

251.300

Industry Sectors Major Contributors Montenegro has bountiful natural resources,chiefly aluminum and bauxite. This, in addition to adequate water supplies and a climate conducive of agriculture, has resulted in a thriving industry sector in Montenegro.In fact, Montenegro industry sectors have been a key contributor to the nation’s economy since the World War II,primarily with the establishment of Montenegro’s bauxite-alumina-aluminum industry. Montenegro industry sectors have been the cornerstone of the nation’s development over the last 5 decades. Metallurgy (aluminum and steel), power and transport infrastructure are the key industries in the nation. Presently, Montenegro industry sectors have the capacity to produce over 1,000,000 tons of bauxite, 100.000 tons of aluminum and 3 billion KWh of power per annum. About 90% of the sector’s produce is exported, thereby helping the country to earn higher foreign exchange. Other significant contributors of Montenegro industry sectors are: Wood-processing, Textile, chemical, Leather and footwear, Household appliances, Construction and building trade. Additionally, Montenegro industry sectors constitute several processing units, which are supportive of the nation’s agricultural sector. This includes fish-processing plants, flour mills, breweries and wine cellars. Montenegro industry sectors are currently attracting large scale private investment as a result of the nation’s businessfriendly investment environment. Montenegro has the lowest corporate tax rate in the Euro region, which is 9%.

BUiLD PRESS

Public Debt

45% of GDP

GDP per capita Inﬂation rate

5.035Eur

2.7%

The Country in Pictures

Podgorica city center

Motorway Montenegro Adriatic Coast

[

Magyar Posta is interested in taking over the Post of Montenegro, whose privatization through a public private partnership is planned for this year, MINA news agency reported citing the Ministry of Information and Telecommunications.In late March, experts from Magyar Posta visited the Post of Montenegro, where they were informed about its organizational structure, working process and visited several diﬀerent oﬃces, the ministry said.Last year, ministry representatives and Post management met with the potential Hungarian investor. The Ministry says that there has not been any other interest so far in the Post’s privatization.

Podgorica International Airport

Montenegro’s strong &weak points

1.Foreign companies have the same rights as national companies 2.Tax system is the most competitive in Europe( 9%) 3.Workforce is qualiﬁed,wages are relatively low 4.Euro is the national currency 5.Formalities for creating a company are simple and quick (four days to create a company) 6.Stable democratic country.

B2B news Magyar Posta shows interest in Montenegro’s post

Budva metropolis of tourism

Strong Points

MONTENEGRO

Weak points

]

1.Deﬁcit of the balance of current transactions. 2.Considerable foreign debt 3. Problems in corruption. 4.Regulations in the subject of intellectual property need to be improved

Montenegro the pearl of the Mediterranean

About 500 km from Rome, 1.500 km from Paris, and Berlin and about 2.000 km west from Moscow, Montenegro lies on the Balkan Peninsula in the very heart of Europe. Despite its small size, Montenegro offers great diversity and abundant natural beauty. Must see The Serbian Orthodox Monastery of Ostrog. It’s spectacularly located against a practically vertical background.Founded in the 17th century, it’s one of the most visited pilgrimage destinations on the Balkans. The Riviera The Bay of Kotor is probably one of the prettiest bays in the world. On its deepest point lies the equally stunning town of Kotor, a beautifully preserved fortified, medieval town with a vibrant history Budva is the country’s most popular tourist destination and boast some great beaches. Tara River Canyon, with its steep banks rising up to 1300 meters above the River Tara waters. It’s the second longest canyon in the world and a UNESCO World Heritage site.

Essentials Municipality of Podgorica www.podgorica.me How to access the country By air www.montenegroairports.com, By car, By train www.zcg-prevoz.me By boat, ports of Bar, Budva, Kotor, Zelenika, Risan Climate Montenegro’s lower areas along the coast enjoy a Mediterranean climate. Central and northern regions have Continental climate When to visit The busy tourist season is from May until September Hotels Mediteran Resort www.hotel-mediteran.com Princess www.hotelprincess.me Restaurants Restoran Luna Rossa Kotor www.montecristo.co.me,Dali Restoran www.dali.co.me,Konoba Catovic Mlini, Kotor

www.catovicamlini.me What to buy Antique embroidery, kobasice sausage and Vranac, the national red wine International Events International music festival “A Tempo” Podgorica International fashion festival Kotor www.montenegrofashionfestival.com Universities University of Montenegro www.ucg.ac.me Business info The Chamber of Economy of Montenegro More info Tourism Organisation www.visit-montenegro.com

BUiLD PRESS

SE EUROPE

Total Area

Population

Calling Code

238.391 km2

19.042.936

+40

GMT

Internet TLD

.ro

Currency

LEU

Romania’s geo-strategic

B2B news

advantage is its privileged location, at the crossroads of three great markets: the European Union, the CIS states and the Middle East. in recent years, Romania has been one of the leading countries as far as FDI performance is concerned, coming second in the CEE and first in South East Europe.Over the last few years, we have been facing a global economy hindered by the biggest economic turmoil since the Great Depression, with international markets facing severe economic distress and plummeting FDI worldwide. Romania was no exception to the rule and almost all sectors within the economy have been affected but not very dramatically. Romania’s attractiveness to major foreign investors has not diminished over time.Investors are targeting long-term investments with solid corporate strategies, and those particular investors know a good deal when they see it and are not afraid to enter a country that can still offer a good ROI (return on investment) rate.There are business opportunities a shrewd investor could take advantage of when considering Romania for placing capital abroad, like the automotive industry. Another sector relatively new to Romania, worth looking at is renewable energy (bio-diesel, wind energy and solar energy). Other domains worth taking into consideration are infrastructure, ITC, pharmaceuticals, tourism, electrics and electronics, agriculture.As one of the large EU members Romania represents an incredible market opportunity in terms of size (the ninth in the EU27) and population (the seventh in the EU27), offering investors strong market potential as the second-largest country in Central and Eastern Europe after Poland. As a result of the EU accession in January 2007, investors here find themselves

within a single market of 500 million consumers, providing enormous advantages for companies seeking new markets for development and growth.Romania also offers access to a whopping 30 billion euros in EU funds.Romania’s geo-strategic advantage is its privileged location, at the crossroads of three great markets: the European Union, the CIS states and the Middle East, being crossed by three important pan-European transportation corridors: No. 4 linking Europe from West to East, No. 9 from North to South, and No. 7, facilitating inland water transportation on the Danube. The country enjoys NATO membership, thus being a stability factor within the region. Romania encompasses one third of the Danube River and over 200 km of the Black Sea coastline. Our country also owns the largest and deepest port on the Black Sea at Constanta.Another “pro” for investing in Romania is that our country offers extensive creative potential from a highly skilled workforce at competitive prices.Romania boasts a cost-competitive business climate enjoying a 16% flat tax, one of the lowest in the CEE, a lowered state aid scheme down to 5 million euros and an amended Labour Code for a friendlier business environment. Romania Trade and Investment (former Agency for Foreign Investment) is the “one-stop-shop” for foreign investors in Romania with a long and distinguished history of serving the international business community in the area of project implementation. It is currently operating under the direct control of the Prime Minister.

Eldorado invests in Transylvania

Romania is a less risky debtor compared to older EU members Romania is a less risky debtor compared to older EU members such as Spain, Italy or Hungary, but the country is still paying higher interest rates on its sovereign debt compared to the first half of 2011. This stems from a global ranking from

What’s new on Bucharest Stock Exchange The shares of international companies Apple, CocaCola, Intel, Visa and Bank of America are being traded on the Bucharest Stock Exchange (BVB) for two hours a day on the Alternative Transaction System (ATS). Trading session starts at 16.30 Romania time and end at 18.30, when both the BVB and the American stock markets are open at the same time

Chinese develop brick factory in Constanta Chinese – owned Golden Way Development is developing a EUR 15 million brick factory in Romania, in Constanta county, through its subsidiary Long Wall Brick. Trade between Romania and China reached USD 4 billion last year, mostly represented by Romania’s imports from China, which have doubled in the last six years.

Apple’s largest store in SE Europe Romanian retailer iStyle Bucharest opened Apple’s largest store in South East Europe. The store which is located in Baneasa Shopping City, the capital’s biggest shopping centre, has a surface area of 260 square metres, of which 160 are dedicated to retail. It has been structured according to recent standards imposed by the American giant and has needed investment of 250.000 euros, a figure that does not include stock products destined for the market.

Eldorado Gold Corporation is a Canadian international gold producer. The newly acquired assets in Greece and Romania will help achieve 1.7 million ounces of gold production company-wide in five years. Certej is an epithermal gold/silver deposit located in the “Golden Quadrilateral” area of the Apuseni Mountains of Transylvania in Western Romania, 12 km from the regional town of Deva. Eldorado owns 80% of the project through its subsidiary Deva Gold S.A. Certej has an expected mine life of 12 years with mining beginning in the Main Zone in 2015 and transitioning to the West Zone by 2021. Eldorado Gold Corporation plans to update the mineral resources and reserves for Certej by the end of May 2012, incorporating an updated geologic model for resources and a $1250 gold price for reserves. Total development capital required for Certej is estimated at ~ $270 million.

ROMANIA

Paul Wright CEO of Eldorado Gold Corp. Photo Norm Betts

British market researcher CMA, according to Mediafax.In its latest quarterly global sovereign credit risk report, CMA said Romania slid five notches to 21st in the top of the riskiest economies that could default on their debt in the next five years. Romania’s cumulative default probability index decreased to 20% at the end of March, from 27% in December 2011, the report noted. Cyprus leads the top ten most risky sovereign credit chart. Portugal is the second most risky debtor worldwide, followed by Pakistan and Argentina, the report stated.

Alitalia brings its lowcost division in Romania Air One, low-cost division of Alitalia regular line airline will enter the Romanian market in July, Air One will have twice weekly flights on the BucharestVenice in early July, according to the airline website. Air One is a low-cost Italian airline which merged with Alitalia in January 2009. Previously, in 2008, Alitalia has been on the brink of bankruptcy. Alitalia Group had revenue last year of EUR 3.5 billion.

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BUiLD PRESS

SE EUROPE Business Taxation

16%

Public Debt

Unemployment rate

Labour force

GDP percapita

Inﬂation rate

34% of GDP

7.1%

14.047 mln

9.461Eur

2.59%

(2011)

(Feb. 2012)

(Jan. 2012)

Explore the Carpathian Garden Romania faces a new beginning in its efforts to promote its tourism industry. The country is changing its tourism development model by moving into a more diversified experience structure, with higher value products and niche market segments,while applying higher quality and updated management and marketing technologies.For Romania, the non-reimbursable European Union Financial Assistance has made possible the funding of coherent promotional activities, increasing the visibility of Romania as a tourism destination, raising the tourism flow (with a significant increase in foreign tourist arrivals: up 16% in 2011 from 2010) and revenues from tourism, which has led - and continues to lead - to the development of tourism’s role in the national economy and to the growth of tourism’s contribution to GDP. Foreign tourists are discovering new places in Romania, for instance,in 2011 compared to 2012, there was an increase of 62% in the number of foreign tourists visiting the Danube Delta.Romania has succeeded in developing and implementing more than 120 projects financed through the EU Regional Operational Programme 2007-2013 for the sustainable development and promotion of tourism, amounting to more than 400 million euros.The project to help brand Romania as a tourism destination is EUfunded.Romania`s new tourism brand was launched on 29 July 2010, at Expo 2010 Shanghai within the Regional Operational Program (ROP) 2007-2013, and its budget, including the creation and promotion of the new brand until 2015,amounts to 75 million euros.“Explore the Carpathian Garden” is an invitation addressed to all those who wish to discover “unwalked paths” with unspoiled nature, authentic culture and ancient traditions. Creating a positive image of Romania as a tourist destination by defining the national tourism brand with its six key products (rural tourism, wildlife and natural parks, health and wellness, active and adventure, circuits, city breaks) will allow us to promote Romania’s tourism potential by improving the country’s image

The Country in Pictures

Ministry of Regional Development and Tourism

Essentials

Carmen MORARU

Municipality of Bucharest:

Head of Tourism Unit in both domestic andforeign tourism markets.In this context, some of the main activities carried out by the Ministry,after launching the nationaltourism brand in the target

www.pmb.ro

Henri Coanda Airport Bucharest

Babes Bolyai University Cluj Napoca

m a r k e t s ( G e r m a n y , Austria,Italy,France,UK,Russia,the USA and China),were: a series of coherent and specific media campaigns consistent with The Brand Strategy and The Strategic and Operational Marketing Plan for Romania 2011 2015 (radio and TV campaigns, external campaigns on CNN,Eurosport and Euronews),participation in national and international tourism fairs,publication of promotional materials bearing the logo of the brand and brochures to promote tourism products,insertions in the most important tour operator catalogues (e.g.TUI,Neckermann etc.). Since online information is now the primary influence on consumer decisions in all target markets, we are currently in the final phase of elaborating a complex strategy to develop a new tourism website and further initiate a strong international promotion campaign for Romania as tourism destination using e-marketing.In addition, we will invest almost 100 million euros to develop the tourism and sports infrastructure needed to host the 2013 Winter European Youth Olympic Festival in Braşov, Romania next February: 40 km of new ski runs, a new Olympic ski-jumping ramp, two biathlon tracks, two skating rinks and a new cable car system will be built in Prahova Valley for this event.

Baneasa Shopping City Bucharest

Bran Castle, “Dracula” Castle

Sun Highway Bucharest-Ploiesti

Bucharest House of Parliament

Constanta summer resorts

How to access: the country By Air www.bucharestairports.ro, By Train www.cfr.ro, By Water Many river cruises along the Danube connect to Hungary, Germany and Austria. Climate: The winters can be cold reaching temperatures between 0°C and -5°C. Spring is pleasant with cool mornings and nights and warm days. In the summer hot sunny days can be experienced along the Black Sea coast. When to visit: May until September are the best months to visit. Hotels Novotel Bucharest City Centre hotel www.novotel.com, Marriot Bucharest Grand Hotel www.marriott.com, Howard Johnson Plaza Hotel Bucharest www.hojoplaza.ro, City Plaza Cluj-Napoca www.cityhotels.ro Restaurants: Taverna Sarbului Bucharest www.TavernaSarbului.ro,Casa Doina Bucharest www.casadoina.ro, The Epoque Bistro Cismigiu Bucharest www.hotelepoque.ro,Restaurant Panoramic Cluj-Napoca www.panoramic-cluj.ro, Restaurant Baracca Cluj-Napoca www.baracca.ro What to buy:Romania’s regional crafts include ceramics and pottery,wooden carvings and glass paintings.Traditional rugs,woollens and silk garments. International Events:George Enescu Music Festival, Bucharest www.festivalenescu.ro,Transylvania International Film Festival,Cluj Napoca, http://www.tiff.ro/Europa Fest,Bucharest jazz, blues, classic music festival www.europafest.ro Universities: Bucharest School of Management http://bsm-mba.ro/en/, The Bucharest University of Economic Studies http://www.ase.ro Business info:Bucharest Chamber of Commerce and Industry http://www.ccib.ro/ More info: Romanian Tourism Organisation http://www.romaniatourism.com/

www.visit-transylvania.us

+40 264 313112 +40 364 405642

SE EUROPE

BUiLD PRESS

Total Area

Population

Calling Code

GMT

88.361 km2

19.042.936

+381

Internet TLD

Currency

.rs

DIN

Serbia has the capacity to surpass

B2B news

the Netherlands' exports of food

agricultural products which amounts to EUR 62 billion At a conference dedicated to the potential of the local agriculture sector, Adriano Martins, Deputy Head of the EU Delegation to Serbia said Serbia is the only EU candidate country which has a surplus in agricultural trade, adding export of these products rose 20 percent last year and accounted for 50 percent of the country's total exports. Minister of Agriculture and Trade Dusan Petrovic opened the conference by saying that all policy measures are aimed at increasing agricultural production of both crops and livestock, and increasing export and GDP.He said 800.000 families are involved in agriculture is Serbia and for 400.000 farming is the primary source of income, so the Ministry's and the government's goal is to help the development of this branch which represents one of the pillars of the economy.Petrovic reminded that Serbia exported USD 2.7 billion in agricultural products last year and expressed expectation it would exceed this number by a comfortable margin in 2012.Danish Ambassador to Serbia Mette Kjuel Nielsen said Serbia had enormous potential for the develop-

[

ment of agriculture but needed to foster entrepreneurial spirit and innovation.She said renewable energy sources such as biogas and biomass were a great resource.The Serbian Association of Agricultural Journalists, AGROPRESS, is organizing the second workshop for foreign journalists covering agriculture. The Balkan Tour 2012, in Serbia is to be organized May 14-19, 2012.This workshop will present agricultural aspects of Serbia to the World, as well as promote and highlight potentials of companies and individuals dealing with agricultural production in Serbia. Participants will visit various company’s production plant and headquarters, as well as farmers who will inform and familiarize journalists with Serbian brands.Serbia is increasingly exporting agricultural products beyond country borders and working to increase export volumes and investments in agriculture. agricultural exports surpassed 3 billion dollars.The tour is to be organized May 14-19, 2012, in Belgrade, Novi Sad and Valjevo, among other places.

SERBIA’S STRONG & WEAK POINTS

SERBIA

]

Strong Points

Weak Points

1.Low corporate tax rate (10%). 2.Very young workforce compared to the rest of Europe, very well trained

1.The deﬁcit of the balance trade remains a problem for the country’s economy

Serbia attracts more investors Serbia attracted more than 2 billion dollars worth of Foreign Direct Investment in 2011, the Chamber of Commerce has said. Large foreign companies that came to Serbia in 2011 include: Belgian retailer Delhaize, German electronics company Bosch, Italian manufacturer Benetton, US rubber and tire company Cooper Tires and Austrian crystal company Swarovski.

South Stream Pipeline costs EUR 1.7 billion The construction of the South Stream pipeline section through Serbia will begin in November or December, according to adviser to the Serbian prime minister for Energy Petar Skundric. The costs for the construction of the section of the gas pipeline through Serbia are estimated at EUR 1.7 billion and the length of South Stream through Serbia will be between 415 to 440 kilometers, depending on the final pipeline route.

Nearly one-fifth of loans in Serbia problematic The problematic loans overdue for more than 90 days had a share of 19.2 percent at the end of 2011, which is one of the highest rates in the region, according to the Banking and Insurance Committee of the Serbian Chamber of Commerce.

EC assessed Serbia’s New IT park With the laying of the foundation stone, the Indian “Embassy Serbian Railways assets Group” has commenced the construction of the information-techmacroeconomic plan nology and business park in Indjija, in which they will invest some total EUR 2.4 million 600 million euros reports Radio Serbia. The new IT park will offer as rather optimistic jobs to 1.000 young experts, and over the course of ten years – 25 The European Commission has assessed the Serbian government’s macroeconomic plan, which envisages an annual GDP growth of 2.8% in 2012-2014, as rather optimistic, but did not present its own projections on that issue. The European Commission emphasized in its latest report that Serbia had been granted EU candidacy and that the GDP growth in 2011 had amounted to 1.6%, which was a considerable increase from 1% in 2010. The surplus of financial balance in Serbia totalled 40% and direct foreign investments were doubled in 2011 and exceeded one billion and 800 million euros, it is emphasized. The National Bank of Serbia’s foreign currency reserves have risen to 12 billion euros. The Serbian government projects a decrease of 1.7% in the budget deficit, which is to be reduced to 2.9% of the GDP in 2014, it was emphasized in the analysis, but no further assessments or commentaries were made

thousand engineers in the domain of information technologies, said Prime Minister Mirko Cvetkovic. According to him, the IT park in Indjija holds international significance, it will be oriented at exports and employment of younger expert staff, thus exemplifying and realizing all the guiding principles of this government. The Prime Minister has expressed expectation that the construction of this center in Indjija will help in forming new generations of experts, therefore enabling Serbia to be the regional leader in the development of information technologies. The celebratory laying of the foundation was also attended by Chairman and Managing Director of the “Embassy Group” Jitendra Virwani, who has confirmed that a world-class park will be built in Indjija. According to him, the company has chosen Serbia for this investment because it is a gate to Europe and has many educated, trained and expert staff available. The project of the IT park includes the A-class office space facilities, totaling 25 thousand square meters and located in four business buildings. The project will be realized in several phases, and the completion of the first one is planned for the end of the next year.

The Serbian Railways’ total assets are EUR 2.4 million, the Scientific-research Centre of the Economics Faculty in Belgrade have assessed. The estimated total capital increased by RSD 62.6 billion, and revaluation reserves will total RSD 71.6 billion.

Fiat’s new car is made in Serbia Italy’s Fiat unveils its new 1-billion-euro production line in the Serbian industrial town of Kragujevac, where the carmaker’s 500L model will be produced for sale by late 2012.

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SE EUROPE Business Taxation

Public Debt

Unemployment rate

Labour force

10%

41% of GDP

16.7%

3.35mln

(Jan 2012)

(2011)

RSD 19.5mill invested in wine tourism

Serbian Wines History

Around RSD 19.5 million has been invested in the development of wine tourism, primarily in mapping out nine wine routes in Serbia according to State Secretary with the Ministry of Economy and Regional Development Goran Petkovic. After visiting a wine route in Zupa, central Serbia, Petkovic told Tanjug the goal of the project was to raise awareness and improve knowledge about winemakers in Serbia.“We have shown the winemakers in this region all the stages which preceded the making of maps and adequate databases, which were used to prepare projects, put up roadsigns, print brochures and other promotional materials,” said Petkovic.“The goal is to attract guests to wineries and enable winemakers to make money on the spot, but also to raise awareness, through these visits, about the importance of the domestic winemaking and the quality it can offer,” pointed out Petkovic.He said the first stage, which consists of developing road infrastructure and mapping, will be followed by a phase designed to broaden the offer and improve the marketing.Parallel to the project “Food for the Soul” launched by the Tourism Organization of Serbia, we will promote wine routes, domestic wine types and other interesting things our winemaking sector has to offer, said Petkovic. The birth of wine production in Serbia is connected with the Roman Emperor Marcus Aureliuanus Probus, born in the Roman emperor’s settlement of Sirmium. In the third century A.D. the first vine was planted on the slopes of Fruška gora. Most Serbian rulers practiced and improvised grape-growing culture. With the penetration of the Turks in the 14th century the town of Kruševac became both the throne place and the center of wine growing. With the liberation from the Turkish rule an intensive developing of wine-growing began and by the end of 19th century Serbian wines have been enjoyed at the Court of Vienna, in Germany, Russia, Switzerland and even in France!

GDP percapita

Inﬂation rate

8.162Eur

11.3%

(2011)

The Country in Pictures Essentials

Belgrade city skyline

Nicola Tesla airport Belgrade

New E94 Highway Belgrade-Zagreb

Belgrade airport expects record number of passengers Belgrade Nikola Tesla Airport celebrates ﬁfty years since it opened its doors and also expects that it will handle the most passengers on record and greatly improve facilities. So far this year Belgrade Airport has seen a 14% passenger increase on last year by handling an additional 74.000 passengers. In March the airport welcomed 216.025 passengers, an increase of 14.4% compared to the same month last year. Since January the airport has handled 604.210 visitors. 2011 marked Belgrade Airport’s third busiest year on record behind 1987 and 1988. Its best result came 25 years ago when it saw 3.311.951 passengers, according to EX YU Aviation News.

BUiLD PRESS

University of Belgrade

Municipality of Belgrade www.beograd.rs beoinfo@eunet.rs How to access the country By plane, International airport in Belgrade www.beg.aero, By car, or By train www.serbianrailways.com Climate Serbia has a mild continental climate with cold winters and warm summers. The north of Serbia and the upland regions have a continental climate, with the typical cold winters and hot summers. When to visit Mid-June to early September (spring season) is the best time to visit Serbia. However, summer is the peak tourist season Hotels Continental Hotel Belgrade www.continentalhotelbeograd.com, Hyatt Regency Hotel Belgrade www.belgrade.regency.hyatt.com In Hotel Belgrade www.inhotel-belgrade.rs Restaurants Restaurant gallery http://restoran27.com/, Belgrade Restaurant Kumbara http://www.kumbara.rs/,Restaurant Club Bahus www.bahus.rs What to buy rakia (strong brandy), sajkaca (traditional hats from west Serbia), opanak (authentic leather shoes), slatko (jarred, candied fruits), prsut (smoked ham), bermet (sweet fortified wine), kulen (a special kind of smoked spicy sausage), and licitersko srce (heart shaped candy) International Events Beldocs- International Documentary Film Festival, Belgrade www.beldocs.rs International Agricultural Fair,Novi Sad www.novisadexpo.com Universities Faculty of Economics - University of Belgrade http://www.ekof.bg.ac.rs University Of NY in Belgrade http://mbasrbija.com Business info Serbian Chamber of Commerce http://www.pks.rs/,Belgrade Chamber of Commerce http://www.kombeg.org.rs/ More info Serbia Tourism Organisation http://www.serbia.travel/

First outlet center in Serbia The first outlet center in Serbia was opened in Indjija on 15.000 square meters of office space, with 65 stores of world’s most famous brands.The investment is worth EUR 40 million, and a total of EUR 25 million have been invested in construction and equipping of stores, which have already opened 500 jobs.The outlet center, whose investor is Black Oak Development company and which will be operated by GVA Outlets, will in the next several years expand by another 15.000 square meters, and enable the opening of 1.000 new jobs.The companies with shops in the center include Fashion Company, Sportina,XYZ,TommyHilfiger,Adidas,Nike,Puma,Converse,Ecco,Office Shoes,Beosport, Midas, Time Out,Levi’s,Burlington, Lisca, Retro, Nicola’s and others.In addition to the fashion stores, the outlet also has a playroom for children, seven restaurants and coffee shops, an exchange office, a bank, and a car park with 1.200 spaces.The Indjija outlet is located near the E75 highway,which connects Belgrade and Novi Sad.There are a total of 134 outlet centers in Europe,and another 35 are planned to be built in the next few years.

Kalemegdan Fortress Belgrade

Usce Shopping Center Belgrade

Address: Dubrovacka 3/3, 11000 Belgrade, Serbia Telephone: +381 11 4123 788 Fax: +381 11 2631 511 office@symbolproperties.com http://www.symbolproperties.com

SE EUROPE

BUiLD PRESS

Total Area

Population

Calling Code

20.273 km2

2.050.169

+386

GMT

Internet TLD

.si

Currency

EUR

Foreign Trade Imports & Exports Founding member of WTO, member of the European Union since May 2004 and of the eurozone since 2007, Slovenia is an advanced, reliable and independent country, which underwent successful economic transition in the 2000s. Because of its stability, the Slovenian economy has long performed well. Slovenia boasts a skilled and productive labor force and its unemployment rate has long been among the lowest in Europe. The country is highly open to foreign trade. More than 40% of its GDP is exported into the European Union, especially vehicles, electric & electronic equipment and pharmaceutical products. The country’s main imports are vehicles, machinery, mineral fuels and oil, iron and steel. Its network of SMEs is recognized for its innovative capabilities and environmental friendliness. As a platform between Western and South-Eastern Europe, Slovenia is the second largest foreign investor in the Balkans. Its three main suppliers are Germany, Italy and Austria. The industrial sector represents about one third of the GDP. Historically, the dominant industries in Slovenia were forestry, textile and metallurgical industry. Since the 1980s, the mechanical industries (automobile, tool ma-

[

chines) and the high value-added industries (electronics, pharmacy, chemicals) have been greatly developed. The Slovenian economy is becoming more and more based on services. This sector, which represents more than 60% of the GDP, has experienced a strong growth during the last ten years, especially in the fields of information technology and communication, financial and commercial services and retail business. Tourism too is booming and remains a sector with high economic potential. This high level of openness however, makes Slovenia very dependent of the economic health of its main commercial partners. Due to the drop in global demand in 2008-2009 and the following economic difficulties of the EU countries in 2011, Slovenian exports have decreased and the deficit of the trade balance has deteriorated. Foreign trade in Slovenia is structurally in deficit with Western Europe where its main partners are located. Some exports have shown resistance to the economic crisis, especially metals and generic pharmaceutical products, as well as the exports of tool machines and electronic equipment. Despite the crisis, Slovenia has many economic advantages and remains an economically dynamic country.

SLOVENIA’S STRONG & WEAK POINTS

]

Strong Points

Weak Points

1.An easy access to regional markets,location in the center of Europe 2.A qualiﬁed workforce 3.A good quality of life 4.Economic and political stability 5.Quality infrastructure

1.Low mobility of workforce 2.High social security contributions 3.A small domestic market 4.A strong exposure to global economic gyration due to the country’s openness

German investors interested in Slovenia German companies looking for investment in Slovenia see biggest potential in logistics, mainly because of the port of Koper, technical industries, as well as construction where they try to beneﬁt from the industry’s decline in Slovenia, according to the Slovenian-German Chamber of Industry and Commerce. Katja Stadler, who is responsible for legal issues and taxes, said that many German logistic companies were inquiring about the possibilities of establishing subsidiaries in Slovenia reports Slovenian Press Agency. Most queries concern Koper, she said. Many companies have already been founded, and many are still waiting for better conditions and transport links, including a second track on the rail line between Divača and Koper, according to Stadler. German companies are also interested in investing in technical industries, green tech-

nologies, energy eﬃciency, and the so-called industries of the future such as tourism, leisure, sport and corrective surgery. The chamber has detected the biggest progress in construction. One trend is the mushrooming of companies which are hiring construction workers from Slovenia in order to send them to Germany, which is looking for extra staﬀ. Meanwhile, German companies have also started working on projects in Slovenia. They get workers from Slovenia, and then bring them along to Slovenia, while they are involved both in planning and construction. Stadler added that German companies had become very cautious in doing business with Slovenian businesses, asking for additional safeguards, checking on credit rating information while tending to opt for enforcement sooner.

SLOVENIA B2B news Petrol Group net profit rise Slovenian energy company Petrol Group announced its consolidated net profit rose 47% to EUR52.3m in 2011, SeeNews reported. Consolidated sales revenues totaled EUR3.3bn in 2011, up 17% on the year.The company plans to raise its consolidated net profit to EUR91m in 2016 from the EUR57m forecast for 2012. Investments in fixed assets will total EUR405m in the period 2012-2016.

Banks record positive numbers Banks in Slovenia generated EUR 29m in pre-tax profit in January and February this year as write-downs and provisions were halved to EUR 66m on the same period last year, figures released by the central bank show.This is a positive development as banks in Slovenia made EUR 356m in after tax losses last year, after ending 2010 with EUR 56m in the red. The costs of impairments and provisions rose by 35.4% to EUR 1.1bn in 2011.

Completed receivership proceedings up The number of completed receivership proceedings in Slovenia increased by 53% to 49 in March over Febru ary, according to data from rating firm Bonitetna hisa I. The number of blocked company accounts also increased, by 13% to 3,483. Also up was the number of initiated receivership proceedings, by 34% to 71. Meanwhile, 353 companies were deleted from the registry in March,which is 18% more than in February. The number of completed company wind-downs was also up by 5% to 104.

Industrial output drops

Katja Stadler legal & taxes issues Slovenian- German Chamber of Industry&Commerce

Slovenia’s industrial output decreased from last year in February, data released by the country’s statistical oﬃce shows. Industrial output dropped 0.4% on an annual basis in February. Production in the mining and quarrying sector dropped 7.2% annually, while manufacturing production edged down 1.7%

Co 11 11 untrie in Citie s S s

SE EUROPE

Business Taxation

Public Debt

Unemployment rate

20%

45.5% of GDP 10.8%

(Jan. 2012)

A gourmet guide for the best restaurants

BUiLD PRESS

Labour force

GDP per capita

Inﬂation rate

(2011)

(Feb. 2012)

938.700

19.569Eur

1.9%

The Country in Pictures

The Slovenia Times The Alpe Adria region has always been known for its culinary masterpieces, the finest ingredients and a mix of various cultural flavours.In the first issue, the Restaurant Club guide introduces only the best of the Alpe Adria region, presenting over 100 carefully chosen restaurants, according to quality, service, price and location on more than 200 pages with photos and a range of information. It is easy to search by region, type of cuisine or other information and it includes maps that will be of great assistance in discovering new culinary experiences. It introduces four products which offer numerous options.The Premium programme, with its black pages, includes the annual membership card with exclusive discounts of up to 20% and luxurious service from staff in every restaurant. Premium users also get all the Explorer programme bonuses.The Explorer programme, with its white pages, is for all those who love quality food, includes the annual membership card which offers 2 for 1 discounts and makes it possible to visit the finest restaurants at the most reasonable prices with minimum limitations.The Explorer coupons are for culinary explorers who only visit restaurants occasionally but still get most of it at a reasonable price.The Gift programme of the Restaurant Club is for everyone you give gifts too. It offers a wide range of locations and flavours to the value of the gift voucher. The Restaurant Club is a system assuring more guests for restaurants, increasing their income and introducing savings with a modern marketing approach using the latest technology; web, mobile phones, Facebook and Google.

Essentials

University of Ljubljana

Jose Pucnik Airport Ljubljana

Citypark Shopping Mall Ljubljana

Maribor

European Capital of Culture 2012 The European Capital of Culture is a title awarded to one or more cities each year, with the intention of promoting different European cultures to the world. Initiated by the Greek Minister of Culture and artist Melina Mercouri, the scheme has so far been a great success, with more than 48 cities being nominated. The title has this year been awarded to Guimaraes in Portugal and Maribor, the second largest city of Slovenia, with 157.947 inhabitants. Both are small, off-the-beaten-path cities, and both contain medieval-era Old Towns recently designated as UNESCO World Heritage Sites. Maribor has more than 1.000 Cultural Capital events in the works. Topping the calendar are these: June 20-July 1: Rock Otocec Festival June 22-July 7: Festival Lent, Slovenia’s largest festival and “the biggest open-air event in southeast Europe” floods the Lent district of Old Town with 400 performers. June 22-Sept. 1: Slovenj Gradec Summer Festival, Fifty jazz, rock and folk performers serenade on two stages. Aug. 16-21: Jazzinitym International players descend on Novo Mesto in an annual tribute to traditional sounds. Aug. 18-19: Roman games with1,500 participants Aug. 21-25: Days of Poetry and Wine Sept. 1-25: Maribum, Drums join in marathon performances. Sept 5-15:Maribor Festival,Classical concerts focus on chamber music.

Lake Bled Northwestern Slovenia

Ljubljana view

Koper-Ljubljana Highway

Municipality of Ljubljana: www.ljubljana.si How to access the country: By plane www.lju-airport.si/eng, car or train www.slo-zeleznice.si Ports: Koper, Piran, Izola Climate: Mediterranean climate on the coast, continental climate with mild to hot summers and cold winters in the plateaus and valleys to the east When to visit: Summer is the most popular time along the Adriatic coast, while winter is big in the ski areas.In general,May through October is time to visit Hotels: Grand Hotel Union www.gh-union.si Best Western Premier Hotel Slon www.hotelslon.com City Hotel Ljubljana www.cityhotel.si Restaurants: La Storia Restaurant www.lastoria.si Gostilna Sokol www.gostilna-sokol.com What to buy: Ljubljana dragon is the main symbol of the city, making dragon themes souvenir a good choice. Prekmurska gibanica (famous cake), black pottery from Prekmurje region. Wine, salt and wind dried meat,called Prsut from Primorska region. International Events: International Music Festival Bled www.festivalbled.comLjubljanaFestival www.ljubljanafestival.si/en Universities: University of Ljubljana http://www.ef.uni-lj.si/enBrand Business School http://www.brand-business-school.com/ Business info: Chamber of Commerce and Industry of Slovenia http://eng.gzs.si/slo/ Slovenian Business and Research Association www.sbra.be/en Public Agency for enterpreneurship www.japti.si Portal for investments on Slovenian market: www.investslovenia.org More info: Slovenia Tourism Organisation www.slovenia.info

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BUSINESS INTERVIEW

Unique idea of combining tradition and innovation

Mt. Athos Monasteries

Build Press had the opportunity to conduct an interview with Mr Socratis Varlamis, General Manager of Mediterranean Diet Products S.A. - a company with a smart message: “Eat healthy with the recipe and blessing of Mt. Athos.” This unique idea of combining tradition and innovation addresses a wide audience, including Orthodox Christians. edited by

Kyriaki Balkoudi

B.P. Which are the main products of Mediterranean Diet Products and how do they justify the name of the company? S.V. Our company, with production facilities in Crete, the homeland of the Mediterranean diet, produces traditional pastries and snacks with natural ingredients, of high nutritional value, that are healthy and which are appropriate and intended for all categories and ages of consumers. The product categories are: Mediterranean Bites: Snacks, salty or sweet, without preservatives, in nine wonderful and unique flavors. Mediterranean Sun, which consist of breadsticks, rusks and sweet bites and Athonitika, which are also breadsticks, rusks and sweet bites. B.P.The products are made in traditional ways or with modern equipment and what is the production capacity of your factory? S.V. We have managed to combine tradition with innovation and therefore our products, with the options they provide in categories (pastries-snacks) and flavors (salty-sweet), have had great impact among consumers both in Greece and abroad. Having at our disposal a production unit with the most modern equipment and high sanitary standards, we are able to produce 2,000 tonnes per day B.P. How did you come up with the idea to create healthy diet products based on recipes from Mt. Athos? S.V. Having a timeless and spiritual relationship with the Holy Mountain of Athos and the Fathers of Mount Athos, we combined: tradition, the natural ingredients with the wonderful environment of Crete, yeast recipes of Mount Athos, and barley from arable lands that are located near Mount Athos, and created innovative high quality and nutritional value Athonitika pastries. These products are mainly aimed at Orthodox Christians and highlight the positive benefits of a healthy diet with the blessing of Mount Athos. B.P. Eating healthy plays an important role in our lives. Of course, your recipes are secret, but what are the main ingredients that ensure your products have the characteristics of a healthy Mediterranean diet? S.V. It has been proven since ancient times but also in more recent studies that Crete is the center of the Mediterranean diet. There, people fed themselves on products they produced themselves, rich in vitamins and nutritional value that not only guarantee a healthy diet, but also help to prevent diseases (cardiovascular, arterial, etc.).Today, at a time when more and more consumers are looking for guaranteed solutions for food, M.D.P. products constitute the best choice for a healthy diet thanks to raw materials that consist of natural ingredients, with no preservatives nor additives. B.P. For the raw materials you use (wheat flour, oils) your first criteria is the quality and health value or the cost? Are your products organic? S.V. The raw materials we use (oil, flour etc.) are strictly tested before being used to ensure they comply with our quality standards. Our products are not organic but they are healthy and innovative both for their ingredients and their high nutritional values as well as their superb taste. B.P. Since some of your products are made following recipes from Mt. Athos, famous for its traditional and healthy recipes, is this a way to reach a wide audience of Orthodox Christians in Europe ? S.V. I think that the combination of what you are saying and the things that I mentioned before (natural ingredients, recipes, and yeast from Mount Athos) create safe conditions for the production of attractive, unique products for all of the Orthodox Christian community. B.P. How do you distinguish your products from those of competitors in Greece and abroad? S.V. Our products have already been shown and tasted at world fairs and in many overseas markets. They have made quite an impression because they have three important, in our opinion, benefits: origin (the Mediterranean), quality (taste and nutritional value), and unique brand names. B.P. When did you start exporting, to which countries and what are your predictions for 2012-13? S.V. After our recent attendance at the ISM expedition in Cologne and the shipment of samples, before and after the expo, we have entered into cooperation agreements with many countries around the world, for example: Italy, Germany, Ukraine, Russia, England, USA, Austria, and have ordered packaging according to the requirements and consumer habits of these markets. We are optimistic and believe, based on our estimates and the high acceptance we see among our partners in these countries, that exports will be highly satisfactory. B.P. Which category of consumers are you addressing? How do you distribute your products, through super market chains, healthy diet stores or both? S.V. Our products are aimed at all consumers in all countries, of all ages and category. Through agents and companies with their own sales network, our products are placed on the market on shelves of: large markets (S/M), small markets (convenience stores, kiosks) and HO.RE.CA (Hotels. Restaurants. Cafes). B.P. In your efforts for quality-healthy diet innovation did you find support in Greece and EU? S.V. In these difficult times (mostly due to dietary concerns) due to the concrete and very well structured proposal we offer for a healthy diet, which already finds significant response internationally, we believe that our efforts will receive feedback and support from relevant bodies of the European Union as well as of Greece. Our greatest concern though is consumer preference and the acceptance of our products from them - a bet we have won so far. We will continue this effort with high standards in quality, innovation and good and healthy diet; especially to do justice to all those who trust our products and our proposals.

Natural ingredients, recipes, and yeast from Mount Athos create safe conditions for the production of attractive, unique products for all of the Orthodox Christian community.

Socratis Varlamis Born in Lamia, Greece 1955 Studied Tourism Business Management and Economics at University of Athens.Has worked as commercial director since 1980 in various companies such as Voktas S.A., GRAMMI S.A. Pegasus Publishing S.A. In 1998 he founded Backstage Ltd which undertakes product promotion and in 2011 Mediterranean Diet Products S.A.

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REAL ESTATE & BUILDING

Eastern Europe real estate

FOCUS ON

What Lies Ahead in 2012 Colliers International report “Eastern Europe: What Lies Ahead in 2012?” which analyses real estate trends in Poland, Czech Republic, Hungary, Albania, Bulgaria, Croatia, Greece, Romania, Russia, Serbia, Slovakia and Ukraine forecasts positive economic growth across the region for 2012. Moscow is the only city reviewed which will see 2012 rental rises in all three key property sectors – oﬃces, retail and industrial. Oﬃce rents in most other

Retail is the king

markets will remain stable bar Zagreb and Kiev, where Colliers forecasts oﬃce rental declines. Retail rental uplift for prime shopping centres is also forecast in St Petersburg, but the capital cities of the South Eastern European markets; Soﬁa; Tirana; Athens; Bratislava and Zagreb, will see rental declines. Prague, St Petersburg, Moscow and Warsaw are the only cities which will see growth in the industrial and logistics sector.

New Carrefour Hypermarket Bucharest

of the Romanian R.E. market The Romanian real estate market is

in a transition period.The worst seems to be in the past, but better days have yet to come. The European economy will remain weak during 2012, blocking the evolution of the Romanian one as well. Once the Romanian economy enters steady growth, the real estate segment should pick up as well. This is expected to happen during 2014 2015. This was also the message we received at MIPIM, the No.1 real estate exhibition of Europe, which we attended. European real estate is ready to pick up, but any progress is Ilias subject to the status of European Papageorgiadis economies and banks, thus the situation is still unclear. Still the market is CEO of MORE quite active in specific sectors. Retail Group of Companies is very dynamic, with many new brands entering the Romanian market, in addition to a pipeline of new retail schemes worth some 2 billion euros. Also high street retail is attracting the interest of investors, especially in the old centre of Bucharest. The residential sector will continue being driven by external factors, such as the “First Home” program initiated by the Romanian state. The trend of prices is negative and transactions are fewer in comparison to the past, but we also notice that the supply for new apartments in certain desired areas is limited. There might be an opportunity hidden in this observation. The office market is considered stable. Some analysts predicted that prices will rise at the beginning of the year, but this does not seem possible. On the other hand, some new developments are in the pipeline, focusing on top locations and affordable leases. Retail is the king of the local real estate market. The demand for properties continues to surpass the supply and aside

Cyprus

from the rental market, Income generating assets (commercial spacesbig boxretail etc.) continue to attract attention.They are the only ones that are easily“bankable” nowadays. The industrial segment is picking up, but very slowly. Developers are few and very careful at present, but the demand is rising slightly due to REPORTAGE new investments in S.E Europe Real Estate Market retail and industry. today Romania is not the most attractive destination for investments today. The diﬀerence compared to the past is that it exited the status of “unwanted” and is now considered an option again. It mainly attracts investors who already know the market thus making it easy for them to evaluate properties and opportunities. The newcomers are still defensive, but this will change in the next 18 months. Romania’s position in South East Europe has been well established for several years now. Nowadays, with Hungary having many problems in relation to the European Union and Greece ﬁghting its own demons, this position is strengthened. Bulgaria and Serbia do not have the economic size to compare, so once Romania will pick up, it will clearly attract the majority of foreign investors.

Construction output

Domestic sales improve

fell in EU27 & Eurozone

The number of property sale contracts deposited at Land Registries in favour of Cypriots increased by 97% in January 2012 compared with January 2011, according to the latest ﬁgures published by the Department of Lands and Surveys. This increase follows a 22% rise in December. Sales were up in all districts, with a total of 697 contracts of sale being deposited compared with the 354 deposited in January 2011. Sales in Larnaca were up 300%, followed by Paphos (+162%), Limassol (+79%) and ﬁnally Nicosia (+16%).

Compared with January 2011, construction output dropped by 1.4% in the euro area and by 1.0% in the EU27 Among the Member States according to Eurostat for January 2012, construction output fell in nine and rose in six. The largest decreases were registered in Slovenia (-19.7%), Portugal (-11.9%) and Spain (11.5%), and the highest increases in Poland (+34.2%), Romania (+14.9%) and Sweden (+7.3%).

Slovenia

The Slovenian real-estate market saw no major change in 2011 compared to the year before, according to a report published by the Surveying and Mapping Authority (GURS). In real terms, prices of existing flats decreased by 3.3%, prices of houses by 3%, of offices by 1.7%, of shops by 0.4% and of building plots by 4.5%. The total number of flats sold in 2011 fell to under 7.000, while the number of houses sold increased slightly to some 3.600 houses.

Croatia

Real estate prices dropped 0.7% in February 2012 from the previous month and by 1.4% compared to the same period last year, reported poslovni.hr. The biggest drop in the year was in the port city of Rijeka, which registered a drop of 8.1% on 2011. In the Adriatic city of Dubrovnik the average price per square metre dropped by 4.2% to 3.122 Euros.

Montenegro

According to Montenegrin News Agency, a protocol of cooperation between the Montenegrin Fund for Solidarity Housing Development (CFSSI) and Italy’s Infogroup is expected to enable the establishment of the ﬁrst building society in Montenegro, oﬀering better conditions to the citizens looking for housing loans.

Bulgaria

The oldest building once used as a hospital in Bulgaria may be turned into a center for tourism and culture. The divisional hospital is a historical monument linked to the culture of the Ottoman Empire, 19th century English construction methods and the years after the country’s liberation. The old hospital could be turned into a multifunctional museum, a local oﬃcial has told bTV.

Albania

Real estate loans in Albania marked a 0.4% increase in 2011, according to data from Albania’s Central Bank. Loans for the purchase of real estate stood at 100.5 billion Leks in 2011, an increase by 400 million Leks compared to 2010. About 77% of the property loans received was issued in Euro because of lower interest rates.

Co 11 11 untries C in ities S

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REAL ESTATE...buy...sell.. ROMANIA

GREECE

ROMANIA

Andreea Miron Marketing Manager RE/MAX Grup de Lux Cluj-Napoca, Romania

We will never be

at the same levels that we were in 2008 T

Michael Anagnostou President Real Estate Brokers Association of Thessaloniki

Damian Galvin General Manager White Mountain Property Brasov, Romania

Now is the best

SEE buyers

time to invest in Romania

invest in summer residences

he real estate market and especially the construction he Romanian real estate market is still recovering he Romanian housing market has been in negative sector have seen significant growth over the past 20 after some very hard years when prices went down growth for over three years, and prices are down by years in Greece.Greeks had, and still have, some senbetween 30% and 50% in our experience. However, significantly and a lot of residential projects were put on hold. But, in 2011 the number of transactions in- the economy is recovering sharply from the downturn. Ro- timental bonding to their real estate property. Maybe this creased compared to 2010 and the trend continues to be mania also has the advantage of not being in the euro is one of the reasons why Greece has one of the highest ascendant in the first quarter of 2012. However, prices thereby avoiding the currency depreciation others have rates of ownership-occupancy in Europe; for primary resiare still not stable, there are a lot of projects that are on seen in 2012. Prices in 2012 are generally as low as they dence this rate comes to 82%,. Until the year 2000, the course of the real estate sector was steady or rising without hold indefinitely and banks are making it hard for people have been for four years and are rising slowly. Therefore, any major peaks. However, since 2001 and following the into get a loan in order to buy a home.In 2011 compared to now is the best time to invest. Smart investors have spotted troduction of the euro currency in the country, the course 2010 prices have decreased with around 5-8% for the res- this and we see a return of Middle Eastern investors, as of real estate has shown a continuous rise due to the cheap idential segment. For commercial and plots prices have well as a boom in relocation activity from German and money offered by housing credit.During the years 2001remained at the same level, there have not beem any French companies, bringing employment opportunities as 2006 sales skyrocketed all over the country, with almost recordings of significant price fluctuations.The problems well as demand for Greenfield land, premium residential 150,000 conveyances per year. There was huge demand and we have as a country in the real estate segment are part rental property and a boost to local service providers. Ikea therefore a big rise in prices, making everybody anticipate of the problems facing the whole of Europe and even the for example is expanding nationally, and a host of home do- a big and rapidly growing real estate bubble.Greece, due to whole world in the last years. Romania,like other coun- it-yourself stores such as Hornbach, Dedeman, Obi, Bau- the economic crisis and the consequent big fall in real estries in South East Europe, is slowly recovering and there- max, Bricostore etc are thriving by all accounts, indicating tate prices, has begun finding itself in a competitiveposition fore the real estate market is recovering as well. We will that home improvement and living standards are trending againstother countries;something that was not possible until now.Foreign never be at the same buyers focus prilevels that we were in marily on summer 2008, not with the Build Press asked questions to various real estate agents from differresidences in prices,not with the areas of Alexanent countries in SE Europe about the current situation of the real estransaction numbers, d r o u p o l i , tate market in their respective countries, the trends for every segment but we will eventuKavala,Thasos, Residential, Office, Commercial, Industrial - and the position they hold ally, in the next year K o m o t i n i , or two, reach some compared to other countries in terms of attracting real estate investHalkidiki.Until rekind of stability in ment. Here are their interesting views and opinions. cently, citizens of this segment. We becountries that are lieve that Romania is not members of still an attractive real estate destination for foreign in- upwards. Rental demand is stronger in 2012. the EU who wanted to buy a house in an area close to the vestors even though we can say 2011 was not a great year When I first became involved in real estate in 2003, there border had to obtain a special permit issued by the Defence if we think about Nokia’s decision to leave and the polit- were almost no experienced professionals to offer advice. Ministry, an extremely time-consuming procedure (eight to ical instability. Due to its position,specialised When I set up White Mountain Property in Brasov in 2007, 10 months). But after the accession of these countries to workforce,low prices, existence of industrial parks, low there were 300 agents in a town of under 300,000 people! the EU the situation began to change.Something I would salaries and tax exemptions, Romania is very interesting Thankfully, the one thing the crisis does do is weed out all like to stress is that by purchasing real estate in Greece, and will continue to be so for the coming years.In the the get-rich-quick proponents. In Brasov city, residential the buyer also buys a percentage of the plot. For example, Transylvania region, activity in the first quarter of 2012 prices and agricultural land have fallen in 2012 by as much as provided by the law, if I buy an apartment and the aparthas been intense, with the coming of Bosch and DeLonghi as 5% over 2011. Residential properties are changing ment building is torn down tomorrow, I am entitled to a new apartment of equal surface when the building is rebuilt. Inand also a lot of multinational software and services com- hands for as low as 500 euros per square metre, with hisdicative prices of newly built homes in Thessaloniki (accordpanies that are planning to invest or expand their opera- toric, desirable property being sold at 900-950 euros. Uning to their location):For a 100 square meter apartment: tions in Romania in 2012-2013. So from this perspective, rennovated property is selling for 700-800 euros per West Thessaloniki, 1.800 €/sq. m., Old Seafront, 12.000 our predictions are very optimistic. square metre. Romania, along with Turkey remain my two €/sq. m., East Thessaloniki, 2.200-3.500 €/sq. m. predicted good investment hotspots.

Reportage

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RE/MAX Grup de Lux

99 C. Brancusi str. 400458 Cluj Napoca, Romania Tel. +40 264 450 000 Fax +40 264 450 505 office@grupdelux.ro

www.grupdelux.ro

WHITE MOUNTAIN PROPERTY 1a George Baritiu str. 500025, Brasov, Romania Tel. +40 268 416 522

info@whitemountain.ro www.whitemountain.ro

R.E Brokers Association of Thessaloniki

33 Ptolemeon str., 546 30, Thessaloniki, Greece Tel.+30 2310 525 423

rea@otenet.gr

BUSINESS

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.rent...build...ﬁnance... BULGARIA

ROMANIA

CYPRUS

Stavros Protopapas Manager/Property Consultant FOX Smart Estate Agency Limassol, Cyprus

Violeta Andreeva Managing Director Violan Real Estate Co. Varna,Bulgaria

Valentin Ilie CEO Coldwell Banker Aﬃliates of Romania

Bulgaria oﬀers

Cyprus muves

Romania among

very low real estate prices in Europe

the most attractive markets into the world of energy, opening the door to investors in South East Europe

INTERVIEW QUESTIONS

yprus is part of the EU, it’s a crossroads between Euhe current situation in the Romanian real estate mareal estate market in Bulgaria was more stable in rope, the Middle East and Africa, enjoying wonderful ket is a good one, it’s positive. There are signs that 2011 and in the first three months of 2012 in comweather all-year round, beautiful sandy beaches and make us hope that 2012 will be a year, at least as parison to 2010, due to the increase in bank loans, good as the last one in terms of the total volume of investwhich also led to more concluded deals.The overall eco- educated citizens. A very positive feature of Cyprus is that ment transactions. Plot transactions were very few in 2011 nomic situation in Europe, however, contributes a great our government has signed agreements with other countries to avoid double taxation. All the above-mentioned fac– except hypermarkets which bought plots for new units, extent to the uncertainty of potential buyers, which we tors make Cyprus an attractive destination. Over the last however, the market saw an improvement from 2009 and have observed more and more over the last few months. six to seven years, the Cypriot real estate market has been 2010. At this moment there are a lot of buying opportunities Prices in big cities like Sofia,Varna, and Plovdiv remain growing rapidly because many Cypriots and foreigners are for final clients and we’re seeing a higher number of buyers stable,with a slight decrease (about 5%). There is also an buying properties for investment or residential purposes. deciding that this is a good moment for an acquisition, esincrease in demand for properties close to the Black Sea. Of course, Cyprus could not avoid being affected by the pecially for an upgrade – to a new home with more rooms In the first three months of 2012 prices have remained worldwide crisis and the sector of real estate has also sufor situated in a better area. Prices in the residential local relatively the same as last year.However, it is really diffi- fered losses. There are regions more affected than others. market are very, very varied and, in our opinion, no real escult to forecast due to the constantly changing political For example, towns like Paphos, Larnaca and Ammochostate index provides an accurate view of the market. In genand economic situation in Europe. We expect that if there tos, are much more affected than Limassol and Nicosia, eral, in Bucharest, selling prices are between 600 and 1800 are no major changes to those factors, prices will remain which are bigger towns and are being used by big compaeuros on square meter due (editors note: not the conat 2011 levels. The property market in Bulgaria is quite nies as their bases, for shipping, trading, touristic purposes structed square meter) for buildings developed before 1990 dynamic and the country has some of the lowest real es- etc. According to the above, there was a small reduction to (old market), and starting from 700 euros, VAT included, for tate prices in Eubuildings developed rope.Itattracts after 2000 (new marmainly buyers from ket). Romania contin1.What is the current situation of the real estate market in your country in your opinion ? Russia and the forues to be one of the mer Soviet re2.What are the average prices for residential, commercial, office and industrial spaces most attractive marpublics.They are compared to last year ? kets in the South looking for properEast European re3.Is your country an attractive real estate destination for foreign investors and what are ties near the Black gion and this is bethe predictions for 2012-13 ? Seacoast. There is cause of its market also a small demand size, because it is an 4.In terms of real estate investments, how does your country compare to other SEE countries? for rural, cheap EU member for more houses,mainly from than five years and buyers from Great Britain. We expect that in the next cou- prices compared to last year, for residential properties with because the yields are good, in an environment with smaller ple of years demand from foreign buyers will fluctuate to- an average of 5%, commercial spaces 3%, and 3% in the risks compared with other markets in the SE European rewards more highly-priced properties in exclusive, top case of plots/land. Since Cyprus recently found within its gion. We hope that this year and 2013 will bring more inexclusive economic zone natural gas supplies, the country resort areas with emphasis on quality, not quantity. Revestors to the local market, investors or developers, but this garding the position Bulgaria holds in real estate invest- has entered into the world of energy, opening the door to a will depend on the general international macroeconomic ments compared to other countries in South East Europe, lot of investors who have already put Cyprus in the near fuevolution. There is a need for more accuracy, for a bigger ture plans as an ideal investing destination. We believe that we have not conducted a market research on the subject work volume, for real estate investments in concordance in 2013 the real estate sector will start its upward trend that is thorough enough to provide us with data and rewith existent or real demand. For now, last year more shopwith very good results for anyone who wants to invest in it. sults. Violan was established in November 1991 and ping centres were started and 2012 started with the biggest The Cypriot real estate market has always been one of the since then has been helping people buy, sell and let acquisition outside Bucharest after the crisis started – formost profitable investments and by my estimates and in real estate situated on the Bulgarian coast of Black eign real estate fund NEPI bought a business park in light of the investing horizons we see, I believe this will conSea, offering all types of properties, apartments, plots Timisoara. The last month brought new discussions and netinue and record an increase. We are optimistic about the of land, villas, houses, stores, industrial and business gotiations about new investments. future! properties. VIOLAN REAL ESTATE Co 6B Tsar Simeon Str. 9000 Varna, Bulgaria Tel: +35952630999, Fax: +35952603422 violan.eood@gmail.com

www.violan-bg.com

FOX SMART Estate Agency 31 Spyrou Araouzou, 3036 Molos Limassol, Cyprus Tel: +357 25 871010 Fax: +357 25 871011 Lim1@foxrealty.com.cy

www.FoxRealty.com.cy

COLDWELL BANKERS

55 Primaverii Avenue 011973, Bucharest, Romania Tel.+40 21 200 39 39 Fax.+40 21 200 39 30 office@coldwell-banker.ro

www.coldwell-banker.ro, www.cbimobiliare.ro

BUSINESS BUSINESS

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REAL ESTATE...buy...sell..

Quality Building in Greece

NEW TRENDS

With Experience and Aestheticsin Construction

Is an international site that aims to promote the quality of the

construction industry in Greece worldwide,pursuing concurrent global partnerships.Addressed to entrepreneurs, investors, architects, technical offices,construction companies and contractors from foreign countries, Q B Greece invites them to expand and strengthen their collaboration with Greek companies in building projects, either within Greek territory or elsewhere by providing a strong motivation. Throughout the site, notable buildings by Greek architects and Greek companies are presented along with useful detailed drawings and architectural ideas about implementing innovative materials in construction in order to produce quality buildings.The site will be constantly enriched with new information and updated features to preserve visitors’ interest.This initiative comes from the pioneering company KTIRIO-EDITIONS LTD which has been promoting technology in the construction industry since 1986 and has made a determinant contribution to the evolution of a quality construction industry in Greece, well presented via the current site.Back in 1986, KTIRIO-EDITIONS LTD successfully achieved the tough task it had set itself: to inspire thousands of professionals to become familiar with and apply new technologies in construction. The founders themselves were engineers, already owners of a successful construction company with extensive experience in private projects and a shared common interest in building science.Through their publications, they collaborated with the best professionals, scientists and companies in the construction sector.Due to the economic crisis now affecting Greece, things are beginning to change.Greek firms are confronting difficulties in their investment programmes and citi-

zens are hesitating to enter into the real estate market.For this reason,the investment potential of foreign parties is becoming increasingly challenging,and more than ever welcomed.Summer residences,resort hotels,photovoltaicparks and other joint ventures are gradually becoming of great financial www.qbgreece.com interest but technical support and insurance on the other hand is still needed in every investment and serious decision making is required in real estate affairs.For this reason,KTIRIO-EDITIONS LTD proceeded to establish a new activity. A new department named KTIRIOCONSTRUCTION LTD, set up under the guidance of its founders and with the support of their best partners, will be an investment consultant of trust for all foreign investors in Greece that need techno-economic services in order to reach contract agreements regarding new construction projects and real estate affairsWe strongly believe that through these two new initiatives, the global promotion of the quality of the Greek construction industry and offering professional consultation to all foreign investors, KTIRIO-EDITIONS LTD completes in the most efficient way the integrated services it has been providing to its clients in Greece since 1986.

Sardine Apartments across London The strength of the London rental market has brought about a rise in so-called sardine apartments. London leaseholders are being forced to live with months of disruption as their landlords try to squeeze a profit out of unused areas in their blocks - such as roof spaces and storage rooms by turning them into flats to rent out. One of the latest cases centres on the Grade II-listed Beaux Arts Building in Holloway, which was modelled on Grand Central Station in New York. Paul Williams, a director of Savills, said unless protected by a specific clause in the lease, the only option for owners is to fight sardine schemes through the planning system.Converting an average loft into a self-contained flat with access would cost no more than £100.000 and the sale of such a flat would make a handsome profit of several hundred thousand pounds. “Because the freeholder owns the land already it is going to be a very profitable business, which is why they are keen to do it.” he told the London Evening Standard’s Homes and Property website.

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MONTHLY FREE PRESS ABOUT COUNTRIES CITIES PEOPLE

THE ONLY B2B FREE PRESS DISTRIBUTED IN 12500 COPIES IN EUROPE

EUROPEAN PROPERTIES CLASSIFIEDS GREECE CRETALAND REAL ESTATES TEL:+302810241355 Crete–For sale west of Heraklion town, in Agia Pelagia on a unique position with breathtaking unobstructed views of the bay, luxury villa of 120 sqm with 3 bedrooms, detached guest house 70 sqm and 50 sqm house on a plot of 2.000 sq.m. In good price and the possibility of adjusting. info@kretaland.gr

ALBANIA

Crete For sale 4 km from Heraklion city and just 3 km from the sea, new traditional stone house 280 sq.m on a plot of 500 sqm with panoramic view. 3 bedrooms,3 wc, large bathroom with jacuzzi, living room with fireplace, large attic and basement parking. All rooms have balconies, c.heating, a.c, solar, info@kretaland.gr.

BALKIMO REAL ESTATE

ALBANIA First Marina in Albania. Co-investor wanted. Experienced Swiss developer.Marina + commercial + 50 apartments. Untouched location less than 20km from Tirana International Airport. Develop (invest), sale (exit) and manage (takefees)model. marin@balkimo.com

TEL:+35542254760

ALBANIA Student Residence on Campus. Co-investor wanted. Experienced Swiss developer. 120 Student bedroom + commercial. 2’000 students on the campus. Develop (invest) and manage (take fees) model. Superior return.marin@balkimo.com

ALBANIA For sale seaside apartment from 60 to 80 sqm in Vlora. Sea view. Swimming pool. Rental revenue. Management services. Furnished or not. Fully registered. Visit: www.soleal.net anjola@balkimo.com

ALBANIA, For sale seaside apartment from 60 to 80 sqm in Vlora Sea view Swimming pool Rental revenue Management services. Furnished or not Fully registered. Visit www.soleal.net. Contact anjola@balkimo.com

BULGARIA

VIOLAN REAL ESTATES TEL:+35952630999

Varna For sale 2 Bedroom apartment 100 sq.m Sea view apartment with large terrace, in a top area, key-ready 76 000euro violan.eood@gmail.com

CYPRUS

Limassol

For sale 1 Bedroom apartment 65 sq.m, 5min.to the beach, fully furnished 46 000 euro violan.eood@gmail.com

FOX SMART ESTATES

Limassol Detached office building for sale centre of Limassol.Arranged over basement parking area, ground floor shop or office, reception area and plus a mezzanine level with en-suite office and three upper office floors. PRICE: €3.800.000 EU Tel.+357 96 650308

CYPRUS

Varna

Limassol Beautiful 3 bedroom apartment with fantastic sea views184 m2, it consists of 1 en-suite bedroom, spacious kitchen with lounge area, spacious living & dinning main bathroom,guest W.C., shower, indoor storage place,A/C units, parking. 430.000euro

FOX SMART ESTATES

Magnificent stone build villa of 4 bedrooms all en-suite with swimming pool, in a plot of land 1,100 m2 and cover areas 350 m2. Price: 750.000 Euro Tel: +357 96 650308

TEL:+35725871010

12 44

CREATIVE IDEAS

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DESIGN...homes...inter 1

Rustic Home Design with Eco-friendly Concept by 24H Architects Here is a rustic home design with eco-friendly concept. This creative wooden home is located in Nieuw Leyden, Netherlands. 24H architects has made an unusual and delightful home with ecological concept which is build in density area. Maximaze to light during the day at this house, called the “canyon” is introduced. The canyon flows through the house and closed the stairs. The guideline is one way that light falls to the lower floors. The canyon walls are used to divide this wonderful house to the space needed. If desired, the canyon becomes transparent and filters the light of day, it show the awesome but eco-friendly ideas at the same time. Where necessary, it is closed and allows toilets and bathrooms to be installed behind your walls.

Co 11 11 untri e in Citie s S s

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iors...furniture...and...

Unique modern house with a curved wooden structure by

Robert Harvey Oshatz This is a unique home design, Fennell Res-

Rotating UFO Homes French company Solaleya Domes creates green eco-friendly custom homes and interiors. The Domespace model, designed by Patrick Marsilli, has a system that allows the entire structure to rotate. It features a 90% wood construction and is insulated with cork. The roof features sky-facing windows which suﬀuse interior spaces with light. Optional integrated solar panels to store energy as well as several possible ecological options for better energy eﬃciency are available. Rotate your house away from the sun in the summer to cool down and towards the sun in winter to warm up!

idence by architect Robert Harvey Oshatz . Oshatz’s style is easily recognisable and described by himself as organic and green sustainable architecture .He has been creating eco-friendly residences for nearly 40 years.The house is built with a unique style and was designed with natural elements that blend beautifully with the natural furniture. The huge glass wall faces Willamette river, Portland, Oregon, USA. Wooden interior and curvilinear ceiling and walls contribute to the overall experience of warmth and coziness.

Co 11 11 untri e in Citie s S s

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BUILD ARTS

WORLD CARTOONIST

Bill Amend Bill Amend was born September 20, 1962 in Massachusetts and is an American cartoonist, best known for his comic strip FoxTrot. In his own words “Somewhere around fourth grade I discovered I could draw cartoons pretty well and began entertaining myself and friends with homemade comic books. We moved west to California in 1974. In high school I contributed cartoons to various school publications but was more interested in computers, “Star Wars” and Dungeons and Dragons than anything. I also played tuba in the school band, made science-fiction themed super-8 movies, and served a brief stint as president of the math club until I was impeached. I attended Amherst College where I majored in physics and served as editorial cartoonist for the twice-weekly school paper. As graduation loomed and career panic set in, I decided to give comic strip syndication a shot. Though my early efforts were rejected, I kept at it in my spare time while working in the San Francisco film and animation industries. After about three years of submitting cartoons, Universal Press Syndicate offered me a contract in the fall of 1987, and I’ve been at this ever since. I currently live in the Midwest with my wife, two children and a perpetually hungry german shepherd.” FoxTrot is a comic strip centered around the chaotic Fox family with its three kids, two parents and a perpetually hungry pet iguana. FoxTrot began its published life April 10, 1988 as a seven-day-a-week newspaper strip. www.foxtrot.com

Vlasakakis Stefanos

European future and growth need citizens’ TRUST

edited by

E.A.K

The financial crisis and associated recession have left Europe and ‘the West’ generally in a weaker position in the world than before. Europe will need to overcome its aversion to strategic planning as regards governance and adopt longer term thinking towards policy if we are to avoid falling behind our global competitors.Two thirds of a strategic plan seems to be more or less in place. The EU already has clearly defined values and aims at an institutional framework to support them. This gives us a clear vision for the future. What is missing are guidelines on how to realise this vision in a world that has changed fundamentally since the crisis began.Europe needs to regain the trust of the markets But in order to do so it has to have the trust of the public that it will implement the necessary economic reforms, bailouts and austerity measures. The debate about the future of Europe cannot be clouded by financial jargon. The terms of tighter European integration must not be dictated by a technocratic vision ONLY, but by the will of UNITED European citizens.A fresh round of deeper European integration must be carried through with the full backing of the European public, otherwise we risk the creation of a bigger democratic deficit in Europe. Successful EU integration cannot happen without people’s support and POSITIVE participation, EUROPE NEEDS PEOPLE AND PEOPLE NEED EUROPE.

WORLD PRESS CARTOON 2012 The World Press Cartoon covers three main categories: editorial cartoon, caricature and gag cartoon. Some of the top exponents of satire and cutting wit in the world of newspapers were lauded at this year’s event. World Press Cartoon 2012 took place in Sintra, Portugal. Egil Nyhus from Norway, with the caricature of Dominique Strauss-Khan, was awarded with the Grand Prix and shares the distinction ex-aequo with Cuban artist Aristides Hernandez, who won the Editorial Cartoon category with an untitled drawing allusive to the USA military interventions. http://www.worldpresscartoon.com

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WE ARE ALL GREEKS 30 cartoonist from around the world Presented their artworks under the general title: “SOLIDARITY: Value of democracy and culture” at Michael Cacoyannis Foundation in Athens, Greece The movement, WE ARE ALL GREEKS, initiated through the web (blogs and social networks), as well as the cartoon by the multiawarded Greek cartoonist M. Kountouris, which has been published on the web and gained an impressive number of comments and republications internationally, during this period, were the occasion to invite 30 cartoonists from all around the world, artists who address with their pen a message for solidarity in favor of Greek people, democracy and culture. Cartoonists participated from France, Italy, England, Portugal, Luxembourg, Finland, Romania, Bulgaria, Cuba, Mexico, Argentina, U.S.A. and other countries. Among them Petar Pismestrovic, (Austria), who works for the Austrian Kleine Zeitung, Tom Janssen, (The Netherlands) who publishes for Trouw, Lido Contemori, (Italy) who has collaborated with newspapers and magazines (La Repubblica, Corriere della Sera)Martyn Turner (Ireland) who publishes for Irish Times Silvano Mello (Brazil).Following its presentation, for just 4 days at the Michael Cacoyannis Foundation, the exhibition travels all around Greece, to Municipalities that expressed their interest in order to host it. Michael Cacoyannis founded the nonproﬁt Michael Cacoyannis Foundation in 2003, wishing to create a cultural institution which would have modern means, innovative ideas, as well as artistic perspective representative of the relationship he had himself with the Arts. Aims of the Foundation are the study, support as well as the promoting of performing, and not only, arts of every era. Its program includes collaborations with cultural organizations and institutions in Greece and abroad, for the production as well as the promotion of artistic events and exhibitions, as well as the organization of educational programs, workshops and seminars, always aiming to the introduction of new cultural norms in the ﬁelds of Arts, as well as emphasizing on young artists creators. Contact: Michael Cacoyannis Foundation Address: 206, Piraeus Str., Tavros, Athens, Greece 177 78 Website: www.mcf.gr Email: info@mcf.gr Tel.: +30 210 341 8550, Fax: +30 210 341 8570

Petar Pismestrovic Austria

Tom Janssen, Holland M. Turner, Ireland

M. Kountouris Greece

Silvano Mello, Brazil

Colour Psychology& Marketing Colour is a meaningful constant for sighted people and it's a powerful psychological tool. By using colour psychology, you can send a positive or negative message, encourage sales, calm a crowd, or make an athlete pump iron harder.Employ the latest colour psychology in all facets of marketing and particularly in logo design, web site design, the cover of a book, or the package of a product. The field of industrial psychology has a sub-field that studies only the psychology of colour. It is no accident that Campbell's soup has used the same four colours on their labels for years and years. Below is an overview of the meaning of basic colours in the Western Hemisphere. THE MEANING OF THE COLOURS 1.Black: Is the colour of authority and power, stability and strength. It is also the colour associated with intelligence In the western hemisphere black is associated with grieving. Black is a serious colour that evokes strong emotions. 2.White: For most of the world this is the colour associated with purity, cleanliness and the safety of bright light It is also used to project the absence of colour, or neutrality. 3.Gray: Is most associated with the practical,timeless, middle-of-the-road, solid things in life. Some shades of gray are associated with taxes,depression or a lost sense of direction. 4.Red: Red is the colour of energy. It's associated with movement and excitement. People surrounded by red find their heart beating a little faster and often report feeling a bit out of breath. 5.Blue: Seeing the colour blue actually causes the body to produce chemicals that are calming; but that isn't true of all shades of blue.Some shades can send a cold and uncaring message. People tend to be more productive in a blue room because they are calm and focused on the task at hand. 6.Green: The colour of growth, nature, and money. A calming colour also that's very pleasing to the senses. Dark forest green is associated with terms like conservative, masculine and wealth.Hospitals use light green rooms because they too are found to be calming to patients.It is also the colour associated with envy, good luck, generosity and fertility. 7.Yellow: Cheerful yellow the colour of the sun, is associated with laughter, happiness and good times. It has the power to speed up our metabolism and bring out some creative thoughts. Yellow can be an effective tool in marketing to greater sales. 8.Orange: It's the colour tied most with fun times, happy and energetic days, warmth and organic products. It is also associated with ambition.Orange is associated with a new dawn in attitude. 9.Purple: Is associated with wealth, prosperity, rich sophistication. This colour stimulates the brain activity used in problem solving. Use purple most carefully to lend an air of mystery, wisdom, and respect. 10. Brown: This colour is most associated with reliability, stability and fiendship. More are likely to select it as their favourite colour. It is the colour of the earth itself “terra firma”.

THE COLOUR PAGE

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*Are you stimulating emotions while marketing with your business logo, stationary,business cards, brochures, signs and with your website? *If you know it or not, colours speak very loud to our subconscious and have a positive or negative reaction within 90 seconds. *On the web you have less that 30 seconds to make a good ﬁrst impression. *Are you using the silent language of colour to impress,motivate, divert and persuade your prospects to buy from you?