For a second consecutive year, Belgrade has been named the city with the greatest economic potential of the 100 largest cities in the Emerging Europe region, the Serbian government said in a statement.

The Emerging Europe region is comprised of 23 economies of central, eastern and southeastern Europe and the southern Caucasus, including 11 EU member states – Estonia, Latvia, Lithuania, Bulgaria, Croatia, the Czech Republic, Hungary, Poland, Romania, Slovakia and Slovenia.

Emerging Europe is a London-based organisation that aims to promote the potentials of emerging countries.

Its council includes former senior EU official Gunter Verheugen, former Moldovan PM and Minister of Economy Ion Sturza, former Bulgarian President Rosen Plevneliev, former Slovak deputy PM and government minister Ivan Miklos and NATO Deputy Secretary General Mircea Geoana.

This year, Belgrade also ranks third in the number of talented people, moving up by two positions compared to last year.

Prague was named the city with the best business environment.

In the statement, the Serbian government said Belgrade’s ranking reconfirmed the extent to which Serbia had improved its business climate and to which its reforms were not going unnoticed globally.

“Such recognitions are expected to greatly help to attract more foreign investors, since references like these represent an important factor in their decision-making on potential investments,” the government also said.