【正文】 als, tools and policy reports published by the IC ? Existing written feedback from donors / others ? Internal evaluations by the IC team ? Review of secondary sources such as the EBRD reports on SEE and the BEEPs survey ? Analysis of country macro economic data, including investment sources and trends ? Review of anisation and management structure ? Analysis of budget and financials Primary inputs for evaluation + . Kearney final report 300604 6 The framework to evaluate the Investment Compact Program was structured around a top down and a bottom up approach Evaluation of Investment Compact around the four strategic pillars Evaluation of Investment Compact by country Source: . Kearney analysis, World Bank Top Down Monitoring Imple mentation Private sector involvement Political support ? RRIP ? EPPA Criteria for evaluation Criteria Description Relevance of objectives ? Extent to which objectives are consistent with country development priorities and overarching goals of the project (Investment Compact Charter) Design ? How well the program has been structured to meet its objectives Process Execution ? How effectively the program design has been applied Communication ? Effectiveness of internal and external munication Coordination ? Internal coordination with OECD ? External coordination with partners Evaluation ? Team performance is monitored on a systematic basis and feedback is incorporated for continuous improvement Efficiency ? Extent to which development objectives are achieved using the optimal amount of resources Innovation ? Extent to which program contributes to develop new tools and approaches Oute Oute ? Tangible results achieved from the program ? Oute depends on the relevance of the objectives the extent to which the objectives have been reached and the excellence of the process to reach the objectives Effectiveness ? Extent to which the objectives have been reached Sustainability ? Probability that the estimated benefit will be maintained and developed over time ? Measures resilience to risk ? Albania ? Bosnia and Herzegovina ? Bulgaria ? Croatia ? Macedonia ? Moldova ? Romania ? Serbia and Montenegro Bottom up ? Tax ? Corp. governance ? National treatment ? Competition ? Reg governance ? Ministerial process ? Monitoring instruments Foreword . Kearney final report 300604 7 Executive summary . Kearney final report 300604 8 The Investment Compact is a solid program with good value for money which still has many areas for improvement to increase its impact ? . Kearney, a leading international strategy and management consulting group, has conducted an independent evaluation of the IC Program in April and May 2022 ? The overall evaluation shows that the IC has clearly contributed to improving the investment environment and increasing private investment and employment in SEE ? Key stakeholders support the IC and the way it has developed but want even greater focus, more concrete actions and effective munication ? The most effective areas of the IC involved the private sector, encouraged “coleadership” and initiative of SEE stakeholders and focused on producing concrete results ? The specific reporting structure around a project team posed of donor and recipient countries has ensured greater accountability over how the limited IC budget is spent. Half of the IC budget is now allocated to 3 priority areas: Monitoring process, FDI Policy and Promotion and enterprise policy and performance assessment (EPPA) ? While contributing to improve the investment environment of the SEE region as a whole, the impact of the IC has been stronger for some countries (eg。sseldorf ? Frankfurt ? Geneva ? Helsinki ? Istanbul ? Lisbon ? London ? Madrid ? Milan ? Moscow ? Munich ? Oslo ? Paris ? Prague ? Rome ? Stockholm ? Stuttgart ? Vienna ? Warsaw ? Zurich Foreword . Kearney final report 300604 4 . Kearney has extensive experience of public sector projects People39。July 2022 Evaluation of the Investment Compact Program . Kearney final report 300604 2 Agenda ? Foreword ? Executive summary ? Context, objectives and approach ? Evolution of the investment environment in South East Europe ? Evaluation of the Investment Compact program ? Budget and anisation ? Remended strategy and actions ? Appendix . Kearney final report 300604 3 . Kearney is a leading strategy consulting firm with offices in the major cities worldwide ? Founded in 1926, nowadays ranks as the second largest management consultancy firm ? 3,000 employees in 58 offices in 35 countries ? Revenues of over € 1,2 B ? Over 2,500 projects per year ? High client retention index — 80% of the revenue is from previous clients Oceania ? Melbourne ? Sydney Asia ? Bangkok ? Beijing ? Hong Kong ? Jakarta ? Kuala Lumpur ? New Delhi ? Seoul ? Shanghai ? Singapore ? Tokyo South Africa ? Johannesburg Latin America ? Buenos Aires ? Caracas ? Mexico City ? Santiago ? S227。o Paulo North America ? Atlanta ? Boston ? Chicago ? Cleveland ? Detroit ? Los Angeles ? Miami ? Minneapolis ? New York ? Plano ? San Diego ? San Francisco ? Silicon Valley ? Stamford ? Toronto ? Washington, . Europe ? Amsterdam ? Athens ? Barcelona ? Berlin ? Brussels ? Budapest ? Copenhagen ? D252。s Republic of China Assessed the climate for major longterm investment in China. A review of the relevant regulations and policies was undertaken as well as an evaluation of current and future policy trends related to foreign investment Croatia Assessed the attractiveness of Croatia to potential US investors and developed remendations by which the Croatian Investment Promotion Agency (CIPA) could accelerat