Central and Eastern Europe’s potential to become a platform for sustainable, high-tech manufacturing, artificial intelligence and cloud computing, as well as a destination for high-end cultural tourism, were examined today by current and potential investors at the American Chamber of Commerce’s regional forum “Future of investing”, which was organized by AmCham Croatia, AmCham Romania, AmCham Czechia, AmCham Slovakia, AmCham Bulgaria and AmCham Montenegro.

High profile investors discussed implications the global pandemic COVID 19 has on the future of investing and how the CEE region can strengthen its position on the global investment map. The Conference was divided into three thematic panel discussions: Digital Economy, Tourism Industry and Sustainable Manufacturing.

Participants on the panel Digital Economy Panel Discussion were – Ondrej Vlcek, CEO, Avast, Dorin Pena, Director of Cisco in CIS and Romania, Dalibor Kacmar, National Technology Officer for Microsoft Czech Republic and Slovakia, Predrag Lešić, CEO, doMEn, Montenegro, Palo Luka, Chief Operating Officer, ESET, moderator: John Gasparac, Managing Partner, PwC Croatia. The digital panel addressed the region’s human capabilities and physical infrastructure.

Experts agree that Internet security is one of the top world priorities, and therefore  region’s as well. Decision makers and relevant stakeholders, mostly universities, have to recognize the importance of STEM skills. Today panellists believe that CEE region has experts, but their number can and must be higher. The biggest obstacle is the “brain drain”, and they suggest to the decision makers that investing in human resources should be one of the key priorities. However, judging by today’s assessments, the region has good starting points.

Predrag Lešić, CEO of doMEn and participant in the Digital Economy panel, said that Montenegro has a large number of talents, engineers mostly, and, citing successful domestic and regional IT companies, pointed out that the region is suitable for research and development, and that he is convinced that investors will look favourably on this part of Europe, because, in the end, everyone can profit.

According to the experts from all three panels, the pandemic of the new corona virus has accelerated the process of digital transformation. The formerly planned few years now take only a few months and this fact has implications for decision makers as well.

Experts say that the way we interact in the public and private sectors, with business partners and with customers, will change. Anyone thinking about potential investments will consider working from home, because today’s times have shown that people can be just as productive, if not more so, when they are not formally in the office. It also means that governments will have to get used to the reality we now call “new normal”.

Tourism has experienced the most repercussions from the pandemic COVID 19 , as well as other sectors that are directly or indirectly related to it. Kai Dickman, General Manager of Regent Porto Montenegro, a participant in a panel discussion on tourism, said that Regent is having a 60 % decrease of revenue this year, but this situation has been anticipated.

However, Mr. Dickman is optimistic, since Montenegro has not officially stopped any project on the Coast, mostly in the field of luxury tourism, but only – postponed the opening of new hotels or  resorts. Considering that travelling will return, he believes that Montenegro will maintain a good position when it comes to the investments and luxury tourism, and announced the construction of new complexes within the Regent for 2023.

Tourism Industry Panel Discussion participants were – Yilmaz Yildilimlar, Area Senior Vice President, Central & Eastern Europe, Russia and Turkey, Radisson Hotel Group, Željko Kukurin, President and CEO, Valamar, Graham Ross, Head of Business Development in EMEA, FCM Travel Solutions, Kai Dieckmann, General Manager, Regent Hotel, Porto Montenegro, moderator: Siniša Topalović, Partner and Global Head of Tourism Advisory at Horwath HTL. The tourism panel debated how the region could recover once the pandemic allowes international travel to return. Panellists predict that in 2023, business will return to the level of 2019, although there are different opinions. However, all these announcements are highly dependable on the launch of the vaccine, experts say.

Sustainable Manufacturing Panel Discussion participants were – Milan Slapak, Country Head, Czech Republic, GE Aviation, Ruža Tomić Fontana, General Manager Coca-Cola HBC for Croatia, Bosnia-Herzegovina and Slovenia, Ivan Mihaylov, Chairman of the Automotive Cluster Bulgaria and moderator: Michel Perret, General Manager of Carrier Refrigeration Europe. The hightech manufacturing panel ranged from a case study on public/private cooperation on product development to sustainable investments into more efficient production.

Upcoming period will be full of challenges for decision makers, especially in light of mitigating the effects of the COVID 19 pandemic, and governments, the panelists conclude, are key partners in this process.

Today’s event is another confirmation that AmChams in the region are working to increase direct investment flows in the region and from the region to the USA.

-We wanted to create an opportunity for an open sharing of information among companies which had already made the decision to place the region at the core of their global growth strategy and those companies still considering it, says AmCham Montenegro Executive Director, and adds that believes the conditions are here for the next wave of investment from companies which will utilize potentials of countries which are organizers of this event.