Richard James Lowden Record, the World Bank’s lead economist for the Western Balkans, said at the Balkan Summit that Kosovo, Albania and North Macedonia represent significant investment opportunities. The summit is focusing particularly on private investment and public infrastructure projects, with a value of €30 billion across the three countries.
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According to Record, investor interest is returning to the Western Balkans, while the countries of the region are showing a stronger commitment to European integration. He said that the opportunities offered by the region remain largely untapped.
However, the World Bank economist stressed that these developments are taking place in a more complicated international context. Slower economic growth in Europe, geopolitical uncertainty, changes in supply chains, technological progress and the rapid expansion of the use of artificial intelligence are among the main challenges he mentioned.
Record said that all three economies share several advantages that could support economic growth and attract foreign capital. These include young populations, macroeconomic fundamentals and economic stability.
Another important element, he said, is the strong links with the diaspora. These ties create opportunities to access investor networks, sources of financing, talented professionals and new ideas.
“Across the Western Balkans, we are seeing renewed investor interest and a stronger commitment to European integration, greater macroeconomic resilience and a growing recognition that this region offers significant opportunities that remain untapped. However, we are also operating in a much more challenging global environment, characterized by slower economic growth across Europe, both in developed and developing economies, increased geopolitical uncertainty, the reorganization of supply chains, disruptive technological developments and the rapid spread of artificial intelligence. These three economies, and certainly the World Bank Group as well, recognize that Kosovo, Albania and North Macedonia have considerable potential,” Record stressed.
He also highlighted the geographical position of Kosovo, Albania and North Macedonia, as well as their shared orientation toward integration into the European Union.
“They share several advantages. They have favorable demographics and young populations, at a time when Europe’s developed economies are increasingly facing an aging population. They also have strong macroeconomic foundations, built through considerable effort, low inflation, low interest rates and economic stability… And, of course, finally, all three economies are positioned close to the heart of Europe, both geographically and in terms of the aspirations and mindset of their populations, with a shared commitment to European integration,” Record said.
Four panels are scheduled for the first day of the Balkan Summit. Ministers from the Government of Kosovo will also take part.
