The EU is advancing its Western Balkans Growth Plan, aiming to accelerate economic integration, support reforms, and attract European investments, with recent milestones including Albania, Montenegro, and North Macedonia joining the Single Euro Payments Area (SEPA), saving regional companies around €500 million annually.

European Commission President Ursula von der Leyen announced at the EU-Western Balkans Investment Forum in Tirana that the EU plans to significantly boost investments in the region, with the ambitious goal of doubling its GDP within ten years.

Von der Leyen emphasized that investing in the Western Balkans is investing in a future continental market of 500 million people, highlighting its strategic importance for Europe's industrial and energy sectors.

The region is seen as a potential leader in renewable energy, with plans to develop clean energy production and distribution, which could lower electricity costs and contribute to Europe's energy independence.

The EU aims to position the Western Balkans as a hub for strategic industries like AI and renewable energy by expanding initiatives such as EU AI Factories into North Macedonia and Serbia, along with developing a high-speed digital backbone connecting all six countries.

This initiative also seeks to strengthen regional ties, countering influence from China and Russia, and integrating the Western Balkans into a larger continental market of 500 million people.

The upcoming EU-Western Balkans Investment Forum is expected to facilitate projects worth over €4 billion, creating jobs and fostering economic growth across the region, which remains a crucial area for Europe's industrial and energy development.

The Western Balkans, comprising Albania, Bosnia and Herzegovina, Kosovo, Montenegro, North Macedonia, and Serbia, has long been considered a future EU expansion zone, despite slow progress due to governance issues and regional disputes.