1989 until now has been in the past 17 years. transition in these countries, foreign capital,Discount UGG boots, especially foreign direct investment (FDI) is undoubtedly an active and important factor. foreign investment is the period of transition in Central and Eastern Europe the most practical investment funds, but also its capital investment and balance of payments accounts to fill the main source of deficit. Hungarian Ambassador to the United States Shaluo Shi b Hill Seoul had bluntly said: role, and still is the main driving force of economic development. capital.
bring temporary prosperity
M & Eastern European transition countries in attracting foreign capital and their country's historical traditions, economic development, religion has a great relationship. In these countries, most foreign capital in Poland , Hungary and the Czech Republic, they went to the region accounts for about 50% of investment attraction. The reality shows that in Central and Eastern Europe, the more a country has a tendency to reform the traditional, religious and culturally close to Western Europe, the more developed countries, it attracts foreign investment the stronger.
1990 years later, is implemented in Central and Eastern Europe since 1980, the World Bank and International Monetary Fund in improve the international balance of payments, to eliminate the fiscal deficit, inflation, the implementation of privatization and market economy, liberalization of agricultural products.
from the time point of view, more favorable for the transition countries, privatization of enterprises in the form, should satisfy two main requirements: First, the ownership can be of benefit to various categories of stakeholders to mobilize the enthusiasm, how best to simplify the agent and the coordination level and the process is to reduce management costs, improve management efficiency and the main topic. Second, the state-owned enterprises in transition countries, the Central Plains The vast majority of obsolete technology, lack of competitiveness in domestic and overseas markets. ownership structure transformation, must be conducive to financing, technological transformation and reconstruction of the enterprise.
both foreign demand is undoubtedly the right provider because the strength of domestic enterprises is weak, so the implementation of this follow-up to play a significant role in investment, has become a lot of changes in the original state-owned enterprises after the actual controller. It is no exaggeration to say that Central and Eastern Europe the process of privatization is the process of foreign investment.
1993, Hungary 70% The incremental FDI into the privatized enterprises in 1995, FDI is also due to the incremental privatization of utilities and telecommunications industries; 60% of 1995, FDI was telecom, oil refining industry to absorb the privatization; Poland of foreign investors has become a backbone. Qizhong, Hungary, the highest penetration of foreign capital in the country, foreign companies in 1999 accounted for 73% of industrial sales, accounting for 46% of industrial employment. The same data are also in Poland reached 49% and 29%, and its role in the economic engine of growth go gradually from small and medium national enterprises, the domestic branch offices of foreign enterprises.
is worth mentioning that the Central and Eastern Europe open to allow foreign banks to obtain a stable Statistics show that Central and Eastern Europe at that time a total of 375 banks, carrying the total assets of 3,750 million euros, of which 66% lies in foreign hands. Czech Republic, Slovakia, Estonia, Lithuania, Croatia and Bulgaria 6, the Bank of more than 80% of book assets by foreign control.
currently in Central and Eastern European countries, as lenders, the status of state-owned banks have been gradually replaced by foreign banks: In 1993, the state-owned banks or the public sector and private sector the main source of loans, and by 2000, foreign Bank has largely controlled the two markets. Foreign banks prefer lending to the private, in addition to the Czech Republic, other central and eastern European countries, foreign banks lending to the private sector since 1998 has been in excess of the public sector loans. In Estonia, the state-owned banks provided almost no credit to the private sector, private sector loans by foreign banks to take the basic.
addition to local private enterprise through the use of state-owned enterprises mergers and acquisitions, there are a considerable number of foreign investors is through green positive impact. In Poland, for example, ten years ago Poland only 1 / 3 of the family car, and now the family car to reach the 2 / 3; 1993, 73% felt their daily living in poverty, and now this figure less than 1 / 3; deposits more than 18,000 U.S. dollars in Poland, the number of annual rate of 10%, which is twice the global average,UGG bailey button, deposit more than 30,000 U.S. dollars in Poland, the number of annual growth of 15%, 3 times the global average.
To sum up, foreign investment has poured into the positive impact on Central and Eastern European countries are as follows:
First of all, to improve enterprise management, improved production efficiency. the original number of private enterprises, and is acquired through a joint venture, with its production into the international production network, make full use of foreign advanced technology, product updates, new markets, especially in the international market. such as General Electric, Ford, Audi and other companies in Poland, Hungary, fully-invested enterprises to the international market-oriented; Hungarian Electric Company Tungsram be GE after the acquisition, the introduction of new energy-saving lamp technology, opened the international market. foreign-invested enterprises in the production and marketing efficiency of private enterprises stronger than the original. such as Hungary 200 best companies, 91 companies are joint ventures, foreign the productivity of investment companies is almost twice as private enterprises.
Second, to promote the national industrial structure adjustment. in the Eastern European countries, FDI mainly in manufacturing, raw materials industry, some countries provide a foundation for economic recovery. In Hungary , 40% of FDI into manufacturing and industrial output value of foreign-invested enterprises accounted for the proportion of national industrial output value of more than 10% in the rapid development of electronic communication equipment, electrical machinery and equipment, computer and office equipment sector, foreign-invested enterprises have played an important role. services, especially financial, trade, foreign investment enterprises is more than a foot in the industry.
Again, large-scale entry of foreign capital has brought exports. foreign-invested enterprises was first established, the international marketing agency has not been perfect, and yet to import more capital goods manufacturing sector, short-term expansion of the host country trade deficit, but will soon increase the procurement rate in the host market. Since 1993, they have played national export trade growth an active role. such as the 1992 to 1993, foreign-invested enterprises in Hungary earned 4 times the per capita national enterprises. in the metal mineral products, machinery equipment, textile and leather exports, exports of foreign invested enterprises accounted for 70%, 60%, 47%. similar to the situation in Poland, the Czech Republic and other countries also show significant.
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