Projects

Short Description:

Overall goal

The overall objective of phase 1 is to define the intervention logic for a pilot project in Serbia with the goal of facilitating and leveraging diaspora direct investments from Austria.

Expected results

Output 1: An assessment report has been drafted

Output 2: At least two municipalities and/or cities in Serbia have been identified for a pilot phase

Output 3: At least 10 potential Serbian diaspora investors in Austria have been identified and have been included in the consultation processes in Austria

Output 4: A results-based project proposal has been developed together with relevant stakeholders in Serbia

Target group / Beneficiaries

• Remittance-receiving households in Serbia

• 112.477 diaspora members and migrants

• Diaspora investors in Austria

• Authorities in the Government of the Republic of Serbia (and municipalities)

Activities

1.1 Desk research on existing regulatory frameworks and assessment of possible gaps in the framework of diaspora direct investment into Serbia, in particular with regards to the principles of Inclusive Market System Development

1.2. Consultations with government authorities in Serbia, academia, civil society, international organisations etc. to define the needs. Consultations take place face-to-face or online

1.3. A stocktaking mission to Serbia undertaken to define the key stakeholders and possible partners for Phase 2

1.4. A government-led workshop undertaken (at central level) in Serbia to define diaspora investment gaps and needs

1.5. A regional workshop with approximately 20 stakeholders from government institutions and experts in the field from the Western Balkans is held in Vienna to exchange experiences and best practices on diaspora direct investment

2.1 Two stocktaking missions to Serbian municipalities undertaken to define the key stakeholders and possible partners for Phase 2

2.2 A government-led workshop undertaken (at municipal level) to define diaspora investment gaps and needs

3.1 Mapping of Serbian diaspora organisations in Austria and business interests in Austria (through consultations with the Austrian Chamber of Commerce, Vienna Business Agency, business incubators, etc)

3.2 Consultations with Serbian diaspora members in Austria (online or face-to-face)

4.1 A stakeholder mapping and analysis has been conducted to identify and assess the main stakeholders for diaspora/private sector development matters. The stakeholder mapping would help to identify the main stakeholders (academia, government authorities, civil society, private sector, financial institutions, etc.) in Serbia and the Serbian diaspora investors in Austria. The analysis of the stakeholders would then help to define an engagement strategy in view of ensuring mid- and long-term effects.

4.2 A government-led working group is established to further define the project proposal

Context

Proposed project builds on the findings of the Link Up! Financing Diaspora Entrepreneurship study undertaken in Austria, which assessed the potential of diaspora communities in Austria for the development of their countries of origin. In view of defining targeted interventions that take place in developing or emerging markets, this proposal suggests two phases for leveraging diaspora direct investments into Serbia. In the first phase, reflected in this concept note, the aim is to assess the business ecosystem in Serbia by identifying market failures, underutilized investments situations (e.g. for attracting diaspora investments) and the type of needs and mechanisms that could be instituted to leverage diaspora direct investments. Consultations will also take place with Serbian diaspora investors in Austria. Provided the findings of the assessment identify added value for ICMPD’s intervention as facilitator, a comprehensive and well-targeted set of activities for private sector development in Serbia will be developed jointly with selected municipalities and/or cities and other relevant stakeholders. This would set the basis for the second phase of the project (pilot phase), which is not further defined in this concept note.