Investment Forum "Sustainable Investment - a step towards fostering economic growth and advancing the post-crisis recovery" was held in Dubai, in the Pavilion of the Republic of Serbia at the World’s Exhibition EXPO 2020 Dubai. The Forum was organized by the United Nations Development Program (UNDP) in Serbia, the Government of the Republic of Serbia, and the Development Agency of Serbia. Serbia Investment Conference, the fifth in a row, was a part of the forum, dedicated to the investment opportunities within renewable energy sector. 

Photo: Expo 2020 Serbia

The forum brought together participants from the private and public sectors, government officials, international experts, as well as a large number of companies from Serbia and other European and Asian countries, to encourage the exchange of knowledge, experiences, and best practices, and promote opportunities for sustainable investments in Serbia.

The forum commenced with a discussion on the challenges of achieving the United Nations Agenda 2030 Sustainable Development Goals (COR), which represent a global strategic framework for poverty reduction, fostering economic growth, and creating equal conditions for all, while conserving natural resources of the planet.

Opening the Forum, the UNDP Resident Representative in Serbia, Francine Pickup, pointed out that the COVID-19 pandemic and the consequent socio-economic crisis caused a big gap between the necessary and available funds for achieving the CORs, which is especially visible in developing countries. She mentioned that this is the reason why greater investments of financial institutions and investors from the private sector are needed, as well as harmonization of their business with global standards of environmental protection, social responsibility, and conscientious corporate governance.

Photo: Expo 2020 Serbia

"In partnership with the Government of the Republic of Serbia, UNDP supports the improvement of the overall investment climate in Serbia with the aim of attracting and retaining foreign investments that contribute to the sustainable socio-economic development of the country. I believe that this Forum will lead to new partnerships that will improve the level of sustainable investments in the Serbian economy," Pickup underlined.

Slavica Đukić Dejanović, Special Adviser to the Prime Minister of the Republic of Serbia for the 2030 Agenda, stated that according to the Report on Progress in Achieving the Sustainable Development Goals from 2021, Serbia has made slight progress and is in a solid 34th place.

"It is completely clear that joint investments of the public and private sectors are needed to achieve the 2030 Agenda," Đukić Dejanović confirmed.

“With its strategic position, commitment to stability and building strong ties with all key economic partners, as well as a favorable business environment and investment climate, Serbia has all the prerequisites to encourage companies to invest in a business that will have a positive impact not only on the economy and local community, but on the sustainable development of the entire society.“

A large number of sustainable businesses which are already in Serbia presented themselves at the Forum. Representatives of producers in the field of renewable energy and efficient water management, such as Balkan Wind farms, BGS Alfa, Metito, and others, spoke about their experiences and the impact of their investments on the local community. The participants of the Forum also got acquainted with the projects of the Ministry of Construction, Transport and Infrastructure and the City of Belgrade in the field of urban infrastructure development, as well as with innovative solutions of Serbian scientists for improving air quality in urban areas and sustainable food production gardens, supported by UNDP and the Global Environment Facility (GEF).

5^TH SERBIA INVESTMENT CONFERENCE DEDICATED TO RENEWABLE ENERGY

Photo: Expo 2020 Serbia

The 5th and the last Serbia investment conference was the part of the SIP Forum, organized by the Development Agency of Serbia and the entire Serbia Expo team.

The conference gave an overview of the investment potentials and opportunities when it comes to renewable energy projects. Representatives of the Ministry of Mining and Energy of the Republic of Serbia presented to the investors the energy sector with a focus on renewable energy sources, the legal framework, and investment opportunities in the sector.

Nemanja Jevtović, Investment Advisor at Development Agency of Serbia, pointed out that in 2020 the gross final energy consumption from renewable sources in Serbia exceeded the average gross consumption of the European Union, but that as a country we are oriented towards further improvement and increasing energy capacities.

"The gross energy consumption average used from the renewable sources in the European Union in 2020 is at the level of 22.1%, while in Serbia it is 26.3%. Although this is an impressive result, it is also a signal and motivation to invest even more in projects that will enable energy production in an alternative and sustainable way. Today's investment conference is one of the best occasions to present potential investors with all possibilities for investing in this area, and without doubt, it is an opportunity to present the investment potentials of Serbia in the complete way having in mind it is our last investment conference within the World's Exhibition Expo 2020 in Dubai", said Jevtović.

Moreover, the conference presented some of the successful projects, such as wind farms, and highlighted to the public the opportunities for investments in solar energy, wind farms, biogas, and geothermal projects, as well as potential investments in waste disposal and landfills.

Further meetings and detailed investors sessions were held after the event.

The Forum "Sustainable Investment - a step towards stimulating economic growth and progress in the post-pandemic period" is one of the activities within the project "Promotion of Sustainable Investment", implemented by the United Nations Development Program in partnership with the Government of the Republic of Serbia. Nations for Peace and Development and the United Nations Department of Economic and Social Affairs.

During the six months of EXPO, the Development Agency of Serbia and the entire Serbia Expo Team have organized five investment conferences focusing on the investment climate of Serbia and investment potentials of diverse sectors and industries such as real estate, automotive, chemicals and railway, investments in spa & climate regions of Serbia, food and agriculture, biotech, ICT and high technologies, and last but not the least investment possibilities within the sector of renewable energy.

Photo: Expo 2020 Serbia