WORLD BANK: SERBIA IS THE LEADER IN IMPLEMENTING THE REFORMS FOR ATTRACTING FOREIGN INVESTMENT

Oct 26, 2017

VIENNA – 26 October 2017 – World Bank has proclaimed Serbia as the number one country in the South East Europe regarding the criteria of implementing the reforms based on which it has become more attractive to foreign investors. 

In the Forum on Competitiveness in Attracting Investment held in Vienna, organised by the World Bank, the recognition, on the behalf of Serbian Government, was given to the Acting Director of the Serbian Development Agency (RAS) Radoš Gazdić and State Secretary in the Ministry of Economy Milun Trivunac. 

The World Bank has praised the reform process in Serbia, emphasizing in particular the adoption of the Law on Investment, and Serbia has been proclaimed as the most innovative country in this part of Europe when it comes to attracting foreign investment. 

Mr Gazdić has assessed that last year RAS realised 22 innovative agreements, and that in the period to come it will bring around 236 million euros worth investment and create more than 16.000 jobs, which is a record in the past ten years. 

This year only we have seen around 50 letters on intent for investment in Serbia, which certainly speaks in favour of increased interest of foreign investors and better conditions for investment in Serbia”, Mr Gazdić has said. 

Mr Trivunac has underlined in the Forum that Serbia has made progress in many competitive fields, and according to the analysis of the competitiveness index, of 12 pillars, it has achieved the biggest progress in eight most important fields. 

As he has said, in the coming period, Ministry of Economy will be focused on the measures to increase competitiveness, which will additionally contribute to an increase of the economic growth rate.  
He has singled out six key measures – attracting strategic investments, increase of export, faster growth of start-up companies, and a bigger contribution of fast-growing small and medium-sized enterprises, regional specialisation of manufacturing industry, tackling of the issues of big loss-makers, and creation of new industry policy. 

Ministry of Economy together with the World Bank is working on the adoption of the new industry policy up to 2030, which will define measures and mechanism focusing on the development of innovations, application of Industry 4.0 concept, and smart specialisation of manufacturing industry of Serbia”, Mr Trivunac has concluded.