The Mediterranean Growth Initiative
The Mediterranean Growth Initiative (MGI) is a stakeholder platform supporting institutional and private sector thinking and doing around the Mediterranean.
Information and commentary from a Mediterranean regional lens is missing, though many of these economies have strong links, which have existed through history.
The MGI rests on two key pillars: understanding the region and its potential using data and analysis, and bringing together key decision-makers and investors at seminars and conferences.
To this end, the inaugural MGI economic indicators report was launched in Brussels on January 13th 2016. The report utilizes the latest data and in-depth analysis to track and benchmark performance in key strands of political, economic and societal progress, such as migration, trade and governance. It is the first of its kind, aggregating data for the region and for each of the 20 countries that share the shores of the Mediterranean sea. The indicators in the report serve as the basis for trustworthy and relevant information for investors and policy makers.
The MGI indicators will be regularly updated to keep policymakers and investors up to date, with real-time analysis and commentary being posted on www.litus.eu throughout the year. The second MGI report capturing developments in 2016 is expected to be published in January 2017.
Other MGI events will include convening stakeholders and partners within the region, in key financial and policy centers around the world. Focusing minds on the Mediterranean at these events will enhance progress for the people of the region, its investors, policy makers and government leaders.
Litus Advisory is the home of the Mediterranean Growth Initiative. Alma Economics is a key partner, responsible for data analysis and authoring the MGI report.
Importance of the MGI Report
“The Mediterranean Growth Initiative (MGI) report reminds us the Mediterranean remains both opportunity and risk to its wider region. On the one hand, the opportunity to integrate markets and ensure efficiencies in commerce are huge. On the other, the frailty of some of its states make it an exporter of people and of insecurity. For both sets of reasons we should pay a lot more attention to the region – and the MGI report with its rich array of statistical insights allows us to do that.”
Rt Hon Lord Mark Malloch-Brown, former Minister of State at the Foreign and Commonwealth Office in the UK, former deputy UN Secretary General, former Administrator UNDP
“The Mediterranean Growth Initiative (MGI) report fills a major gap in our analytical and statistical information and data relating to economic & financial developments in the Mediterranean region. The MGI report will be an important, practical addition to the toolkit of private investors and businesses as well as to policy makers in the EU and the Mediterranean countries.”
Dr Nasser Saidi, member of the IMF’s Regional Advisory Group for MENA, Co-Chair of the OECD MENA Corporate Governance Working Group. Former Minister of Economy and Trade and Minister of Industry of Lebanon
“This is an important effort to compile data from a region which is suffering from a dearth of evidence-based policy-making. The data also illustrates the lack of integration in the region and the potential this represents in terms of increased trade, investment and economic growth, both within the region and with the European Union. Despite all the political and cultural obstacles it is as part of a wider Europe that the region has the potential for truly prosperous and inclusive societies.”
Professor Erik Berglof, Professor and Director, Institute of Global Affairs, London School of Economics and Political Science. Former Chief Economist and Special Advisor to the President European Bank of Reconstruction and Development, professor and Director of the Stockholm Institute of Transition Economics.
LITUS is Brussels’ first investor and policy advisory for the Mediterranean region. LITUS identifies and sources projects in the countries of the Mediterranean and pairs them with suitable sources of capital from around the world, benefiting from unique on the ground insights and international capital markets experience through its international advisory board and its executive leadership team. LITUS’ Mediterranean heritage makes it the most credible advocate for the interests of the private sector and governments of the region to EU and other multilateral institutions.
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