Rules or Deals? The EU’s Challenge in Regulating Corrosive Capital in the Western Balkans
The United Arab Emirates has become a major investor in the Western Balkans. With enlargement back on the agenda, the EU must ensure that foreign capital meets rather than undermines its governance standards.
This paper was written and analytically structured by Iliriana Gjoni. The case studies on Belgrade, Durrës, and Porto Romano draw on research and commentary provided by Iva Čukić, Alba Çela, and Aleksandër Trajçe, whose contributions informed and enriched the empirical sections.
The paper was prepared with support from the Heinrich Böll Foundation as part of a joint initiative with Carnegie Europe on foreign investment and governance in the Western Balkans..
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Table of contents
Introduction
The Centrality of Governance
Montenegro: The Stress Test of EU Enlargement
The Belgrade Waterfront: The Political Architecture of Corrosive Capital
The Durrës Marina: A Luxury Bet on the Public’s Back
Porto Romano: The Environmental Cost of Corrosive Capital
When Investment Outpaces Reform
How the EU Can Respond
Conclusion
About the Authors
Notes
Carnegie Europe