Doing business in the WB: exploring potential and problems

This paper analyzes the Open Balkans initiative, which has faced significant criticism from the media in the Balkans over the past 24 months. Concerns have been raised regarding potential manipulation, increased political instability, and negative effects on member states' economies. The study aims to assess the initiative's effectiveness in attracting foreign investment and examines the political climate of West Balkan countries, providing historical context for current ideologies and conflicts affecting governance functionality. As the Open Balkans initiative is relatively new, the analysis focuses on the impact of the Berlin process on GDP per capita growth rate and foreign direct investment (FDI) in West Balkan countries. The paper highlights the long-term advantages that the initiative could bring. A SWOT analysis is presented, identifying the initiative's strengths, weaknesses, opportunities, and threats. The conclusions drawn indicate that the Open Balkans initiative represents an opportunity for positive transformations in the region. To ensure its success, future inclusiveness within the initiative is crucial, along with addressing economic disparities among participating countries. Effective governance mechanisms, open dialogue and cooperation among stakeholders, and monitoring and evaluation of the initiative's progress and impact are also essential