Benefits and Results

The fact that the importance of the BFC SEE Program is multiple is also confirmed by the beneficiaries who use it directly or indirectly. First of all, the Program provides municipalities and cities with clear guidelines on how to create a good business climate, conduct a good assessment and improve the quality of services and information that are necessary for the continuous development and growth of the local economy. Also, the Program presents a guide for activities that will enable the local self-government to build and improve organizational capacities, plan development and monitor the effects of its work, make decisions through dialogue with the private sector and through transparent work contribute to predictability and reduction of risks in doing business.

The Economy sees the BFC SEE Program as a standardized mechanism for assessing local business conditions and indicates which municipalities and cities in the region have the most favorable investment climate. Establishing and strengthening dialogue with representatives of municipalities and cities regarding strategic and development priorities contributes to a reliable partnership, and thus to the creation of an attractive destination for new investments.

The BFC SEE Program enables cooperation of all actors involved in the process of investment attraction and development of conditions for easier business doing. This is certainly a good sign for the central government where the Program emphasizes those municipalities and cities that have potential for local economic development and that need to be further stimulated in creating a better business environment. The BFC SEE Program contributes to strengthening cooperation between the central government and municipalities with a business-friendly environment and creating a competitive business climate in the region of the SEE.

Realization of positive results and the impact to the business environment not only to the members of the CORE Partnership but also beyond its borders is certainly a good sign for national and international institutions and donors to provide more support for the development of investment potentials of cities and municipalities in Southeast Europe.

Strengthened economic activities at the local and regional level generate new employment and higher tax incomes whose final result is better working conditions and prosperity for the citizens of the region.

Municipalities/cities that meet the requirements for obtaining the BFC SEE certificate are positioned as the most advanced local governments in the region, that qualify for support from central and international institutions and donors, with active promotion at the regional and international level.

The greatest benefits that the local governments receive from participating in the BFC SEE Program are recognition and promotion at the central level and wider, the possibility of additional financing through participation in projects, as well as greater networking and connection of BFC municipalities in order to exchange experiences and examples of good practices. Additional benefits of the BFC SEE Program are:

• Harmonization and improvement of business conditions in local self-governments
• Identification and replication of best practices from the EU region in the work of the local self-governments
• Strengthening the image of Southeast Europe as an investment destination through the common seal of quality (BFC SEE)
• Fostering economic cooperation and exchange, attraction of new investments in the region
• Strengthening municipal competitiveness and ranking on the international lists (Financial Times)
• Identification of areas with greater potential for development and investment
• Support from central and international institutions and donors
• Linking of all actors, data, statistics and results electronically / e-certification
• Improving the quality of life