Escobar: Private Sector Has Key Role in Western Balkans Economic Growth

Deputy Assistant Secretary Escobar stressed the important role the private sector has, adding “I appreciate the encouraging work that American regional ops and business associations do to benefit the entire region. ”

The creation of the Western Balkans is that of phenomenal growth and phenomenal economic opportunities present here,” Deputy Assistant Secretary Escobar said.

While praising that some of the increase relates to economic activities behind the COVID pandemic and external remittances, he said there is strong economic growth in nearly every state of the Western Balkans.

My “message to American companies is that if you have a consolidated, opened market in the region, you have the capacity for a rapid increase in the supply of natural liquid gas (LNG), in remittances, in transport, IT, renewable energy and smaller sectors, such as tourism and entertainment. These investments will serve not only the Western Balkans, but Eastern Europe in general,” said Escobar, adding that the Balkans has the potential to become a service provider for the entire Europe. He said pro-business governments that are open for co-operation across borders are key to unblocking economic potential.

US Deputy Assistant Secretary of State Gabriel Escobar, and representatives of the American Economic House in Kosovo also discussed the potential of the “Open Balkans to economic growth, job creation and foreign direct investment in the region, thus contributing to stability and prosperity. /Periscopi/