BRUSSELS

The EU is stepping up investment in the Western Balkans with the goal of doubling the region's gross domestic product (GDP) within the next decade, European Commission President Ursula von der Leyen said Monday.

Speaking at the opening ceremony of the EU-Western Balkans Investment Forum in Tirana, von der Leyen said the Western Balkans Growth Plan is designed to accelerate economic integration, support reforms, and attract European investment.

"The EU opens sectors of its economy for your business. Together, we work on reforms for a level-playing field. And alongside reforms comes investment. The Western Balkans Growth Plan aims at doubling regional GDP in the next decade," she said.

Von der Leyen highlighted that Albania, Montenegro, and North Macedonia recently joined the Single Euro Payments Area (SEPA), reducing transaction costs and saving regional companies an estimated €500 million ($578 million) annually. "It is progress not just on paper but in practice," she added.

The European Commission president underlined the potential of the Western Balkans to become a hub for strategic industries and innovation.

She announced that the bloc's AI Factories will be extended to the region, starting with two "Factory Antennas" in North Macedonia and Serbia, and that a high-speed digital backbone will connect all six Western Balkan countries.

On clean energy, von der Leyen said the Western Balkans could become a hub for renewable energy production, storage, and distribution, contributing to lower electricity costs and Europe’s energy independence.

"Investing in the Western Balkans means Investing in a future continental market of 500 million people," she said, emphasizing the region's strategic importance for Europe's industrial and energy sectors.

The forum brings together EU and Western Balkans officials and investors to discuss and sign projects expected to generate more than €4 billion in new investments, creating jobs and opportunities across the region.