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Videoconference: Investment Climate: Competitiveness and Poverty Reduction
On June 13, 2005 the Distance Learning Center at the Center for the Study of Democracy, jointly with the World Bank Country Office in Sofia, organized a videoconference discussion on one of the pillars of development - the creation of a better investment climate to create jobs and higher incomes. The lead speaker, Mr. Michael Klein, World Bank’s Vice-president for Private Sector Development, focused on issues such as: What do we know about the ingredients of a good investment climate? What type of reform can be effective? What reform processes are promising? How does the creation of a better investment climate relate to poverty reduction and social inclusion? What about the informal economy? And finally, how does this matter for the new knowledge economy, where traditional investment is overshadowed by forces of innovation?

Mr. Klein pointed out that catch-up and poverty reduction is possible, especially if the right factors for improvement of the investment climate are found. According him the individual skills are crucial and intelligence is the most important factor for growth. That alone, however, is not enough to raise considerably competitiveness or incomes. A number of other factors should also be present, among which are physical capital, favorable institutional environment, available equipment and competitive pressure.

Presentation by Mr. Michael Klein, World Bank’s Vice-president for Private Sector Development (Power Point, 664 KB)
Biographical note
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