Croatian International Relations Review

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Sergio Alessandrini

Since the transition, flows of foreign direct investment ( FDI ) to Central and Eastern European Countries ( CEECs) have increased significantly. As far as the destination is concerned, there are three groups of recipients: the Central European - Visegrad countries ( i.e. Poland, Hungary and Czech Republic ) which attracted more than 70% of the initiatives; the second cluster of countries, including Slovenia and Romania, which are approached with caution by foreign investors; and the third cluster of countries, including Bulgaria, Croatia and Albania, which are behind in the transition process and represent a high risk to foreign investors, thus attracting only a limited number of initiatives.