In existence for more than a decade, fDi Magazine biennial league tables of the most attractive locations in Europe for future inward investment have become a key benchmark of FDI competitiveness across the region.
In 2016/17 ranking Serbia performed very well, having several cities and regions in Top 10 of various categories. City of Belgrade is rapidly positioning itself as the most attractive investment destination in this part of the world with 8th place of Top 10 European Cities of the Future 2016/17 for Cost Effectiveness.
For the third year in a row, Sremska Mitrovica is among the winners of the Cities of the Future with 10th place in Top 10 Micro European Cities of the Future 2016/17 for Economic Potential. Vranje was awarded in 2 categories for Top 10 Micro European Cities of the Future 2016/17: 9th place for Cost Effectiveness and 8th place for FDI strategy. Zajecar and Sombor also remained in Top 10 for Cost Effectivness at 10th and 7th place in Top 10 Micro European Cities of the Future 2016/17.
When regions and districts are concerned Vojvodina scored 7th in Top 10 Small European Regions while Srem District scored 6th. Srem District acquired 9th place in Top 10 Southern European Regions for Cost Effectiveness and 10th in Top 10 Small European Regions for Business Friendliness.
More info here.
Development Agency of Serbia
Development Agency of Serbia (RAS) was established on january 12, 2016. It offers a wide range of services on behalf of the Government of the Republic of Serbia, including support of direct investments and export promotion, and leads the implementation of projects with the aim of improving Serbia’s competitiveness and reputation in order to support the economic and regional development.
As a newly established agency, RAS builds upon the knowledge of the former Serbia Investment and Export Promotion Agency (SIEPA) and National Agency for Regional Development (NARD) and brings improvements required to meet the needs of a modern economy.
RAS will serve as a one-stop-shop for both domestic and international companies with a single goal of building a strong and sustainable economy, and increasing the quality of life for the people in Serbia.
For more information, please see here.
New investments facilities opened
On Sunday, January 31 2016, Italian company Geox officially opened its factory in Vranje. The total investment is €15.8 million, while it is planned to employ 1,250 workers.
Geox factory covers 100,000 square meters, of which more than 20% per cent is covered. As it is planned Vranje-based factory will produce 1,250,000 pairs of high quality women fashion footwear. According to Mr. Polegato, Director of Geox, the factory in Vranje will produce high-tech footwear designed for countries that are in cold areas. As noted, Geox will bring a new technology and business culture that is known throughout the world.
Later in February, Dr.Oetker opened its first factory in Serbia. It is one of the most modern factories with a production capacity of 6,000 tonnes a year. A broad assortment of products from this factory will be marketed in Serbia and other countries of the region.
Same month two more factories were opened – world-known producer of electrical engines, Dunkermotoren has opened new production hall in Industrial zone Mali Bajmok at Subotica, while the automotive producer, Hutchinson opened factory for production of rubber pipes for cooling devices for cars and it will supply renowned producers such as Mercedes, Fiat, Suzuki, Renault.
Ruma municipality provided 7,8 ha of land where the company built a production department on almost 6.000 m2, and the investment was estimated at EUR 7,3 m. This automotive plant will hire 200 unemployed citizens from Ruma municipality.
Serbian companies at PRODEXPO fair
At the International Fair of food products, PRODEXPO in Moscow, that was held February 8-12, 2016 Serbia was presented by 15 companies.
At the National stand of Serbia, jointly organised by Development Agency of Serbia and Chamber of Commerce and Industry of Serbia, were present the following companies - Aleksandrija Fruška gora, Bambi, Belina, Carnex, Imlek, ITN Group, Mara, Master Frigo, Meggle, Mini Pani, Pionir, Rolend, Rubin, Vocar and Zlatiborac.
PRODEXPO is one of the biggest and the most important specialized exhibitions of food industry in Russia and East Europe.
Year of Entrepreneurship 2016
National project "Year of Entrepreneurship 2016" was officialy presented at the ceremony held on Tuesday, March 1 2016, at the Serbian Chamber of Commerce. The project will be implemented by the Government of the Republic of Serbia and the Ministry of Economy, with the participation and support of numerous institutional partners.
The basic idea of the different activities, a package of assistance programs for entrepreneurship and mobilization of all segments of the public, society and the state is the development of a competitive economy which, like all developed and prosperous economy of the modern world, is based on the ideas of private initiative, entrepreneurial spirit and social consensus on encouraging these values and long-term policies.
The ceremony was attended by high officials of the Government and the Ministries of the Republic of Serbia, Development Agency of Serbia and Serbian Chamber of Commerce, numerous foreign diplomatic missions, World Bank, IMF, and others.
For more information on project, please see here.