The Transformation of Central and Eastern Europe in a Globalized World

December 5, 2024

WKO Conference Center, Wiedner Hauptstraße 63, 1040 Vienna
www.groweast.eu

Over the past three decades, Central and Eastern European (CEE) countries have undergone a significant transformation, shifting to market-based economies and democratic systems. Despite challenges such as the early transition recession, the global financial crisis, and the COVID-19 pandemic, their convergence with Western Europe has continued. CEE, especially the Western Balkans, still outpaces older EU members in growth rates. However, since the 2007–09 financial crisis, growth in the more advanced Central European nations has slowed. The region’s original growth model, based on low costs and foreign direct investment, has reached its limit. To sustain and improve living standards, CEE must transition to a more innovation-driven model.

The full-scale Russian invasion of Ukraine, efforts to reduce dependence on fossil fuels—particularly Russian energy—and rising operating costs complicate this shift. The EU's Green Deal offers both opportunities and challenges: decarbonization and digitalization present new growth paths, but also strain societies in this less affluent part of Europe. Geopolitical tensions let consider European firms nearshoring, while Asian companies strategically invest in CEE and the Western Balkans to be closer to EU markets and circumvent trade barriers. Austria and Vienna, which have greatly benefited from CEE's opening, must now navigate a changed business environment in Europe.

The 15th Grow East Congress will address the key challenges stemming from recent developments in Central and Eastern Europe (CEE) and provide valuable insights into the region’s future outlook. Key topics of discussion will include:

• What is the current economic and political standing of the CEE region within Europe and globally?

• How have CEE countries evolved over the last three decades? What are their key achievements? Have the EU-CEE11 countries become "normal" European states?

• What are the major challenges the region faces over the next five years?

• Is the EU prepared for further enlargement to include the Western Balkans?

• How significant are the CEE economies for Vienna as a regional hub?

We will explore these questions with leading executives, entrepreneurs, experts, and academics at the Congress. The event will highlight growth trajectories and potential risks for both Western and CEE companies.

Speakers include among others:

• Philipp Ther, Professor of Central European History, University of Vienna

• Gunter Deuber, Head of Research, Raiffeisen Bank International

• Andrea Gritsch, Managing Partner, Wolf Theiss

• Martin Ehl, Chief Foreign Policy Analyst and Columnist, Hospodářské noviny, Prague

• Mihael Belic, CFO South East Europe, Henkel

• Birgit Reiter-Braunwieser, Team Lead & Director CEE & Research Location, Austrian Business Agency

Sponsored by:

Congress Location

The 15. Grow East Congress is an in-person event and takes place at the WKO Conference Center, Wiedner Hauptstraße 63, 1045 Vienna on December 5, 2024 (8:30-13:00).

Registration

Registration for the Congress is administered by the Austrian Federal Economic Chamber (WKO). Participation is free of charge. You have to register directly at the WKO Conference Website at „Anmelden als Gast“: https://online.wko.at/events/event/detail.html?~cid=-1&eventId=1867917360325997276&wkid=

You will then receive from WKO a confirmation of your registration and in a separate email the QR-Code that allows you to enter the conference venue.

Registration closes at December 2, 2024.

Congress Organizers

The Grow East Congress is organized by Dr. Arnold Schuh, Competence Center for Emerging Markets & CEE at WU Vienna, Dr. Manfred Berger, Partner of ICONIC Consulting & the Founder of Neusicht Think Tank and Aussenwirtschaft Austria/Advantage Austria, the international arm of the WKO (Austrian Federal Economic Chamber).