19th Vienna Economic Forum – Vienna Future Dialogue 2022
During the 19th Vienna Economic Forum - Vienna Future Dialogue 2022 which under the motto "Economy meets Politics in Difficult and Uncertain Times" took place on 14. November 2022 at the Raiffeisen Bank International in Vienna, the Board and the Members of Vienna Economic Forum had the honour and the pleasure to welcome the invited guests, high-ranking decision-makers from economy and politics from 22 countries.
The conference was moderated by Ambassador Victor Jackovich, President, Jackovich International LLC, USA and Member of the Board of Vienna Economic Forum.
In his Opening Speech of the First Session: “Can the Economy be a Driving Force in Difficult and Uncertain Times”, the VEF President DI Peter Umundum greeted the many participants onsite and online and spoke about the importance of strong cooperation, especially in these difficult and uncertain times. President Umundum stressed that for our focus VEF region, Vienna Economic Forum is a platform for communication and collaboration and invited the participants to use the Forum.
During his Welcome and Input, the host, Mag. Peter Lennkh, Member of the Management Board, Corporate Banking, Raiffeisen Bank International AG, (RBI) and Board Member of the Vienna Economic Forum stated that in light of this current crisis and the prevailing uncertainty, the European politics must take ambitious measures to support the economic activity of our continent and to ultimately safeguard our Western model of democracy and way of living.
In her video Impulse Statement, H.E. Ms. Mariya Gabriel, EU Commissioner for Innovation, Research, Culture, Education and Youth, stressed that the lessons learned of the past century in Europe has taught us that economic cooperation works. She spoke about the importance and advanced achievements of the cooperation of the Balkan countries in the field of digitization and the important role of this cooperation and she concluded her speech with the message: "Where there is a will, there is a way".
In her insight, the VEF Secretary General, Ambassador Dr. Elena Kirtcheva emphasized how important it is to stay true to the VEF vision of building a “Common Economic Area from the Adriatic to the Black Sea”, especially in these difficult and uncertain times. Giving the audience some negative (abandoned Nabucco project) in the past, and positive examples (Greece-Bulgaria Interconnector) from the present she reminded of the significance in times like these to focus on regional cooperation and the implementation of long-term projects that could offer options to the VEF region and Europe.
Ambassador Victor Jackovich announced the Second Session “Securing Regional Economic Development in an Insecure Environment. How to Manage the Challenges under the Pressure of the Reality” and invited H.E. Mr. Albin Kurti, Prime Minister of Kosovo and Patron of Vienna Economic Forum to deliver his Keynote.
H.E. Prime Minister Kurti expressed his belief that the regional economic development depends on coming closer to democratic values and aspirations towards EU membership of each and every country of the Western Balkans. The global pandemic and the consequent war in Ukraine have taught the democratic policy makers and the businesses of all sizes an important lesson over the past two years: it is not only of an absolute necessity to allocate production and other services to geographically closer regions but to base our economies on sound market principles and democratic values alike in order to be resilient. Interest and values go hand in hand.
Mr. Djordje Radulovic, Foreign Policy Advisor to the Prime Minister and Former Minister of Foreign Affairs of Montenegro stated that the best way to tackle today’s challenges is through European integration and through regional cooperation.
Mag. Peter Höfinger, Member of the Board of Vienna Insurance Group AG and Vice President of Vienna Economic Forum stated that we are entering a multi-polar world which is going to change a lot of the mechanisms of globalisation used in the past, leading more to regionalization and cooperation between the regions and stressed the importance of adapted supply chain. Mag. Thomas Arnoldner, CEO of A1 Telekom Austria Group, Member of the VEF Board, stressed that we cannot underestimate the role that technology plays in mastering the ongoing crises. The one who masters technology best is the first to go out through these crises as a winner, the one who masters technology is to be the fastest to overcome and prevail these crises. Dr. Stephan Pachinger, LL.M, Partner, Freshfields Bruckhaus Deringer, Member of the VEF Board spoke about the dangers and risks of a non-harmonized, fragmented legal framework as can be seen and experienced today.
In his Video Statement H.E. Olivér Várhelyi, EU Commissioner for Neighbourhood and Enlargement pointed out that this year’s Vienna Economic Forum comes at a critical time for Europe and the region.
In view of the unprecedented crisis caused by the global pandemic 2 years ago and the current war of aggression in Ukraine, which has worsened the state of affairs by fuelling global inflation, increasing geopolitical fragmentation and challenging macroeconomic stability, Commissioner Várhelyi elaborated on the impact of these political and economic changes in the EU neighbourhood and the Western Balkans countries and stressed that as a result, the war has brought EU and the neighbouring countries closer together, as well as that the changing geopolitical situation has strengthened the EU enlargement and neighbourhood policy!
H.E. Commissioner Várhelyi concluded his address by accentuating that strengthening the bonds between the EU and Western Balkans in this new geopolitical reality is indispensable and pointed out that to attract investments the region must rethink existing strategies and further explore new opportunities like nearshoring.
The Q and A session that followed prompted lively discussions and an exchange of ideas with high-ranking representatives of regional and European politics as well as high-ranking representatives of Austrian, regional, European and international economy.
At the beginning of the third session: "Enhanced Cooperation between the Regional Economy and Politics - what is the right way?" the participants had the opportunity to hear the video Keynote statement by Dr. Lilyana Pavlova, Vice-President of the European Investment Bank (EIB). Dr. Pavlova stressed the importance of Vienna Economic forum as a platform that fosters regional cooperation, economic ties and solidarity and pointed out that we need to unite forces more than ever towards sustainable and prosperous Europe.
EIB Vice President Pavlova spoke about the aspiration of the EIB to support the neighbourhood and enlargement countries by launching a dedicated branch EIB Global earlier this year for the Bank’s operations outside the EU. This branch is to serve as a dedicated arm to assist in shifting the operating model through reinforcement of the local presence of the EIB thus helping the region benefit from the latest EU initiative Global Gateway.
The EIB Vice President Dr. Pavlova concluded her Statement by saying that at these grave times for the world that threaten to disrupt the very foundation of our lives and economies, the only way forward is to advance with all activities that ensure sustainable future for all. The EIB Group, together with the European commission and other local partners can play a decisive role in supporting the energy security, green transition, and competitiveness of the regional economies.
Mr. Ahmet Burak Dağlıoğlu, President of the Investment Office of the Presidency of the Republic of Türkiye Investment Office, VEF Board Member delivered the second Keynote. He spoke about the rising importance of regional cooperation in times of deglobalization. He stressed that it is not only political or economic cooperation of importance when we talk about regional cooperation, but cooperation in logistics and infrastructure is also important for the resilience of the supply chains as well. Thus, we must think and act on various other fields of regional cooperation.
He accentuated the many challenges that we have been facing that are taking the focus off our region. We must keep the cooperative environment alive in order to have robust geography with political fields in terms of economy, trade relations and investment relations. All of the stakeholders involved, must make decision taking into consideration the well being of others as well.
In his concluding remarks he called for all of the countries to join the global discussions and called for development of more inclusive policies and inclusive mechanisms for the decision-making processes globally. He accentuated the Motto of the Investment Office “Türkiye is your resilient partner in your businesses”.
Dr. Achim Kaspar, Member of the Executive Board, COO of Verbund AG, Vice-President of Vienna Economic Forum spoke about energy policy being the right example for cooperation in Europe on a global base. Energy is of utmost importance in order to have sustainable development. Dr. Nina Drakic, President of the Chamber of Economy of Montenegro, Member of the VEF Board spoke about the traditional challenges with which the business community faces enhanced by the current challenges. Dr. Drakic expressed her belief that we have an obligation to require the views of the business community to be put into focus to the attention of the decision makers. Mr. Burak Bilge, CEO of Austria Card Türkiye and President of ge Türkiye-Austria Business Council at the Foreign Relations Board of Türkiye (DEIK), Strategic Partner of Vienna Economic Forum expressed his views on the importance of logistic cooperation and nearshoring and the important role that Türkiye plays and shall play in these areas for the years to come. He furthermore accentuated the tremendous potential of start-ups in the future cooperation.
Mag. Teodora Georgieva, Executive Officer and Board Member of ICGB AD Gas Interconnector Greece – Bulgaria shared the success story from the inception to the realization of the Gas Interconnector Greece – Bulgaria especially during these extremely challenging times. She accentuated the strategic role of this impressive project calling it “the game changer for the region” providing options not only for the two countries but for the whole region as well. Dr. Gabriel Lansky, Partner, Lansky, Ganzger, Goeth, Frankl + Partner (LGP), Member of the VEF Board spoke about cooperation not only on regional level but on a global scale, stressing the effect that the current ongoings have an impact on the world-wide economy. He invited the audience to consider several though-provoking aspects of the many implications and effects of the actions that are currently in force as a result of the war in Ukraine. Dr. Nikolay Tsenkov, Manager of Municipal Guarantee Fund of Sofia Municipality, Member of the VEF Board spoke about the significance of the geography of the countries and the opportunities it provides. He expressed his views that in the current situation it is the regional cooperation that should be in the forefront offering collaboration not only on a economic or political level but connecting the countries on cultural and traditional level as well.
During the Insight that Ms. Velina Tchakarova, M.A., Director, Austrian Institute for European and Security Policy (AIES) provided she stated that the only certainty in global affairs is actually the uncertainty. Change is the only constant in life.
She pointed several trends which in her view would be equally important for both the EU institutions and for the businesses and would in turn affect the lives of the citizens. Ms. Tchakarova pointed out the impact that globalization has had and stressed the bifurcation of the global system as a highly important megatrend whose development would greatly affect the global fashions and the global well-being.
In her final remarks she stated that when it comes to the geoeconomic side, many countries are in position to weaponize geoeconomic means. We must be cautious and businesses must develop a clear understanding about the geopolitical and geoeconomic risks linked directly to the behaviour of states and organizations with important international relevance. Finally, as a lesson drawn from the previous industrial revolutions, the power that emerged victorious out of riding the way of the industrial revolution became also the global power.
At the end of the third session, the moderator, Ambassador Dr. Victor Jackovich, President of Jackovich International LLC, USA and VEF Board member, provided an extraordinary overview of the 19th Vienna Economic Forum - Vienna Future Dialogue 2022, of the many interesting statements, contributions and observations of the high-ranking participants and speakers, as well as of the many happenings currently affecting the VEF region.
The Vienna Economic Forum Award "Country Partner of the Year 2022" was given to the Presidency of the Presidency of the Republic of Turkey Investment Office for the excellent and fruitful cooperation. The award was accepted by the President Mr. Ahmet Burak DAĞLIOĞLU, Member of the VEF Board.
During the lunch that followed, the participants and guests had the opportunity to exchange ideas, cultivate contacts and make new ones in an informal and friendly atmosphere.
The subsequent response has been extremely positive.
Vienna Economic Forum would like to thank all members, partners and friends for the enduring and constant support that drives us to achieve greater goals and broaden our horizons.
Special Thanks goes to: A1 Telekom Austria Group, AFRY Management Consulting Austria GmbH, AME International GmbH, CANON CEE GmbH, Freshfields Bruckhaus Deringer, Jackovich International LLC, KELAG Kärntner Elektrizitäts AG, LANSKY, GANZGER + Partner, Chamber of Economy of Montenegro, Municipal Guarantee Fund of the City of Sofia , Novomatic AG, Österreichische Post AG, Presidency of the Republic of Turkey Investment Office, Raiffeisen Bank International, Serbian Business Association, Sopharma PLC, Steiermärkische Bank und Sparkassen AG , Verbund AG, Vienna Insurance Group, Wien Holding GmbH.
In addition, Vienna Economic Forum would like to thank Raiffeisen Bank International in particular for the hospitality and strong technical support, and also to VEF Media Partner Society Magazine.
Fotocredit: SOCIETY/Pobaschnig
Welcome Cocktail on the 13th of November 2022 on the occasion of the 19th Vienna Economic Forum – Vienna Future Dialogue 2022
"Economy meets Politics in Difficult and Uncertain Times"
19. Vienna Economic Forum – Vienna Future Dialogue 2022
Economy Meets Politics
in Difficult and Uncertain Times
14 November 2022
Raiffeisen Bank International
The Program can be found here.
21st Traditional Garden Party of Vienna Economic Forum
Vienna Economic Talks – Istanbul Meeting 2022
The Vienna Economic Talks – Istanbul Meeting 2022 took place on 17 May 2022 at the historical Dolmabahçe Palast in Istanbul.
Vienna Economic Forum is proud to have had co-organised the event together with the Presidency of the Republic of Türkiye Investment Office, represented by its President, Mr. Ahmet Burak Dağlıoğlu, Member of the VEF Board.
The high-ranking participants - representatives of regional politics and the global economy - made a significant contribution to the great success of the event. The very lively debates focused on the exciting topic: "Economy as a Driving Force in Difficult and Uncertain Times". As part of the intensive program, Türkiye's economic resilience and economic development through cooperation, including the reconstruction of the VEF member country Ukraine after the war, were discussed.
Vienna Economic Talks – Istanbul Meeting 2022 moderated by Ms. Andrea Sanke, Journalist and Senior Presented for TRT Word News in Istanbul, was opened by Ambassador Dr. Elena Kirtcheva, Member of the Board and Secretary General of Vienna Economic Forum who addressed the long-lasting history and excellent cooperation between VEF and Invest in Turkey from the organizing of the first VEF – Istanbul Meeting in 2007, followed by the Istanbul Meeting in 2011 and the Vienna Economic Forum- Meet Turkey in Vienna in 2012, until the Istanbul Meeting 2022. She further discussed the economic and geopolitical importance of Turkey for the region and its future development.
In his opening statement Mr. Ahment Burak Dağlıoğlu, President of the Presidency of the Republic of Türkiye Investment Office and Member of the Board of Vienna Economic Forum explained that the same room where the Vienna Economic Talks – Istanbul Meeting 2022 was taking place is the same room where the Ukraine-Russia negotiations on the ongoing war took place and expressed his wish for a prompt positive outcome. Furthermore, he spoke about the very low FDI for the region and highlighted that the main target of the strategy is to increase Türkiye’s share in global FDI market to 1.5 percent as of 2023, by enhancing its performance in terms of quality FDI profiles. He also stressed the importance of increasing the FDI volume to the region.
During his opening, DI Peter Umundum, Member of the Board Parcel and Logistics of the Austrian Post AG and President of Vienna Economic Forum, spoke about new economic era thus accentuating the necessity of the Istanbul Meeting 2022. He spoke about how the economy can transform the world and assist in facing all of the challenges as a driving force in difficult and uncertain times as well as the dire need for enhanced regional cooperation and ongoing connectivity. President Umundum expressed the positive experiences Austrian Post AG has had, especially in view of the good and steady growth of ARAS Kargo in the country and the impressive amount of 2 million parcels delivered per day in 2021. He expressed his view on further potentials for future developments.
During the First Session: “Exploring Türkiye’s Eonomic Resilience in an Age of Opportunities and Challenges” in her Video Impulse Statement Ms. Mariya Gabriel, European Commissioner for Innovation, Research, Culture, Education and Youth spoke about the tremendous potential, talents and opportunities for this region, the fruitful cooperation between EU and Turkey spanning for over 2 decades. Furthermore, she accentuated the many possibilities, open access and opportunities that the EU programmes Horizon Europe and Erasmus Plus offer, drawing the attention to the Green Erasmus offering opportunities in the fight against the climate change.
H.E. Mr. Hekuran Murati, Minister of Finance, Labor and Transfers of Kosovo, opened the question about how to make the economy more resilient, especially in the view of the COVID situation, inflation, energy squeeze thus stressing the necessity for infusion of funds in order to bridge the big gap caused by the current challenges on one hand. On the other, H.E. Minister Murati reported on the Kosovo growth of 10,5% in 2021.
In his statement Mr. Mehmet Kacir, Deputy Minister of Industry and Technology of Türkiye discussed the COVID disruption and the effects on the supply chains, the resilience in this matter, and the production lines moved to Turkey during the situation. There has been over 290 billion US dollars of FDI in the last 20 years in Türkiye. The many start-ups receive steady support by the Government. Türkiye has deep roots and productive ties with the countries from the region, thus accentuating the importance of further, even more active cooperation and relationship.
During the lively and productive discussion led by the Moderator Mr. Auskar Surbakti, Journalist and Senior Presenter for TRT World news in Istanbul, Ms. Barbara Hagen, CFO of ARAS Kargo once again accentuated the great achievements and impressive number of parcels that ARAS Kargo managed to successfully deliver on a daily basis presented as an opportunity by the pandemic, emphasising the 2021 as a record year. Dr. Gabriel Lansky, Partner, LANSKY, GANZGER, GOETH, FRANKL + Partner (LGP), Austria spoke about the great success that they have on local and international level with over 200 lawyers present in over 20 countries in the areas of investment, finance and trade. Dr. Lansky further informed about the new office in Türkiye. Mr. Burak Bilge, CEO of Austria Card Türkiye and President of Türkiye-Austria Business Council at the Foreign Economic Relations Board of Türkiye (DEIK), Strategic Partner of Vienna Economic Forum spoke about the presence of his company in Türkiye since 1996, the smart cards that they produce and digital services that they offer, Dr. Hüseyin Gelis, President and CEO of Siemens Türkiye, elaborated on the long history of Siemens, as well as its role as a platform for growth in Türkiye. He discussed the new issues that the market faces these days, which are not only materials shortage but labour shortage as well. The President of the Marmara Group Foundation and Strategic Partner of Vienna Economic Forum Dr. Akkan Suver highlighted the long-standing collaboration with Vienna Economic Forum and invited to the 25th Eurasian Forum in Istanbul.
At the beginning of the Second Session: “Fostering Economic Development through Local, Regional and International Cooperation” the high-ranking participants had the opportunity to primarily hear the Video Impulse Statement of Dr. Lilyana Pavlova, Vice-President of the European investment Bank (EIB) who talked about fostering economic development through local, regional and international cooperation, accentuated the necessity of acting faster, together and more decisively in order to help the world tackle the ongoing challenges. Vice President Pavlova further elaborated on how the effects of COVID demonstrated the power of European solidarity, thus accentuating the 58 billion Euros allocated by the EIB to help fight the negative economic and social consequences. On a global level, new partnerships, are key to sustainable development, such as Invest EU.
In his Impulse statement Ambassador Dr. Valentin Inzko, former UN High Representative and EU Special Representative (HR/EUSR) for Bosnia and Herzegovina, Honorary Member of Vienna Economic Forum talked about over 60 initiatives currently active in the Western Balkan region, of which some duplicated. He elaborated on the work of the Regional Cooperation Council which replaced CEFTA, the Berlin process and the necessity for the initiatives not only to exist but to be implemented and realized which Ambassador Dr. Inzko believes to be of key importance, further accentuating the need for sense of urgency and halt to the immigration from the Balkans.
The Deputy Minister of Foreign Affairs of Türkiye, Mr. Faruk Kaymakci, started his Keynote statement stressing that Türkiye rejects the war by Russia and supports Ukraine in all its efforts. He spoke about the artificial creation of the phrase Western Balkan meant to discriminate and marginalize Türkiye when we should be talking about South-Eastern Europe. He further accentuated the excellent relationship between Türkiye and the countries from the Western Balkans on both economic and political level, spoke about the accession perspective of Türkiye and the fact that the efforts of both EU and Türkiye to assist the countries form the Balkans should be complementary and enhance each other.
During his participation in the discussion, Mr. Pavle Radovanović, Vice President of the Chamber of Economy of Montenegro, Member of the Board of Vienna Economic Forum indicated the role of the Chambers of Economy in Fostering Economic Development and highlighted the fact that they represent the “voice” of the business community and possess the capacities and knowledge to transform justified requirements into concrete actions. Dr. Nikolay Tsenkov, Manager of the Municipal Guarantee Fund of Sofia Municipality, Bulgaria, Member of the Board of Vienna Economic Forum spoke about the unique form and function of the Municipal Guarantee Fund and its significant role in supporting small and middle enterprises, as well as the importance of cooperation among the institutions, not rivalry. Mr. Erdem Acay, CEO of Coşkunöz Holding Türkiye discussed the supply chains and the ongoing rivalry rather than cooperation, increased interest in the VEF Member countries and the necessity for multiple sources for supplies, not relying on one. Mr. Ali Tahan, Head of International Banking and Investor Relations, Vakifbank Türkiye discussed the huge amount allocated as loans to the small and medium enterprises, support for the Türkiye’s exporters and branches of the Bank in Qatar and USA. Mr. Ufuk Cemal Bali, General Manager and Member of the Board of Intesa Sanpaolo elaborated on the activities of the bank in Türkiye but also in the subsidiaries all over. Intesa Sanpaolo is among the top banks in the country and in Europe. He spoke of two most important aspects of steady and reliable supply chain according to him and in Türkiye and that would be the geographic aspect and the population.
At the end of the Second Session Ambassador Dr. Victor Jackovich, President of Jackovich International LLC, USA and Member of the Board of Vienna Economic Forum provided an exceptional overview of the Vienna Economic Talks – Istanbul meeting 2022 thus summarizing all of the interesting statements, contributions and observations by the many eminent participants and contributors.
Vienna Economic Forum thanks all cooperation partners for their support, A1 Telekom Austria Group, AFRY AF Pöyry, AME International GmbH, CANON CEE GmbH, Freshfields Bruckhaus Deringer, Jackovich International LLC, Kelag AG, LANSKY, GANZGER, GOETH, FRANKL + Partner (LGP), Chamber of Economy of Montenegro, MUNICIPAL GUARANTEE FUND FOR SME SOFIA, Novomatic AG, Austrian Post AG, The Presidency of the Republic of Türkiye Investment Office, Raiffeisen Bank International, Serbian Association of Economists, Sopharma PLC, Steiermärkische Bank und Sparkassen AG, Verbund AG, Vienna Insurance Group (VIG), Wien Holding GmbH, as well as the special supporters of the event ARAS Kargo and Ray Sigorta A.S. Vienna Insurance Group.
The program can be found here.