CEE could be driving force for growth in Europe – US ambassador

The US ambassador took part in the "The growing ambitions of Central Europe, or how to unleash the new growth potential of the Old Continent" debate organised at the Polish House in Davos by Bank Pekao. Radek Pietruszka/PAP

Central and Eastern Europe (CEE) has every reason to be an engine of growth for Europe, said US Ambassador to Poland Georgette Mosbacher during the World Economic Forum in Davos, Switzerland, on Friday.

Mosbacher told PAP and the IAR press agency on Thursday that international investors will go wherever they see opportunities and that, at this point, Eastern and Central Europe has the possibility to be a driving force for growth in all of Europe.

She added that investors would be interested in a presence in the region as long as it offered a friendly atmosphere for business or legal regulations created with the aim of encouraging companies to invest.

Earlier, the US ambassador took part in the "The growing ambitions of Central Europe, or how to unleash the new growth potential of the Old Continent" debate organised at the Polish House in Davos by Bank Pekao.

During the meeting, among other analyses, the global management consulting firm McKinsey & Company presented a report which showed that since 1996, the GDP per capita in the CEE region had increased by 114 percent, thereby becoming one of the most attractive places in the world to invest. It was also pointed out that, currently, CEE economies are worth EUR 1.4 trillion. In terms of size, the region could be the 12th-largest global economy.