The Foreign Investment Advisory Services (FIAS) under the World Bank officially opened a Vienna office for Eastern European and Central Asian Affairs here on Tuesday.
Austrian News Agency said this office would mainly work on close cooperation with Eastern European and Central Asian countries to improve their economic and political conditions so asto increase foreign direct investment to this region.
"From a global point of view, this region (Eastern Europe and Central Asia) has huge potential in attracting foreign direct investment. Establishment of this Vienna office is a definite signal that we will do our best to assist relevant countries to create a more competitive investment environment, attract more investors and expand investment scales," said FIAS General Manager Pierre Guislain.
At the same time, the office will also establish close relationships with parties of investee countries and assist foreign investors with fund, technology and management knowledge to improve their competitive edge in key areas.
Director of FIAS Vienna Office Karin Millett also pointed out that many countries in Eastern Europe and Central Asia are carrying out active reforms. The World Bank will help these countries to attract more flexible investments, especially the so-called green investment.
FIAS is managed by the International Finance Corporation (IFC) and supported by the Multilateral Investment Guarantee Agency (MIGA) of the World Bank Group and the World Bank itself. FIAS has carried out over 680 programs in promoting private investment in over 130 countries since its foundation in 1987.
Source:Xinhua
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