ANALYSIS
The Need to Realize Serbia’s
FDI Potential
A conversation with Maja Piscevic, Executive Director of AmCham Serbia
EM: ell us something about the
T
overall foreign investment mood
in Serbia. Would you say Serbia
is generally welcoming to FDI?
Piscevic: Serbia has been working hard
in order to improve its business environment and render its market more appealing for foreign investors. AmCham Serbia
is in constant dialogue with the Government, which has proven very productive,
where we offer our expertise, experience
and know-how to facilitate reform processes, and we are eager to continue this
cooperation. Just to mention few examples, changes to Labor Code significantly
enhanced regulation in mid-2014, and
changes to the Planning and Construction Law went into force at the year end,
which should considerably accelerate
the issuance of building permits. This is
part of their efforts to cut red tape, and
in addition to that, potential investors
get significant attention and assistance
from top Government officials.
Serbia is currently undergoing a fiscal consolidation and structural reforms, which indicate that the
country is determined to overcome burdens that
built up over the years. It is estimated that legislative
improvements should improve Serbia’s ranking in
the World Bank’s Doing Business Report by 50 places.
Advantages of its geographical position, traditional favorable trade ties (FTAs with EU, Russia,
CEFTA, Belarus, Kazahstan, Turkey and the US) and
an attractive talent pool with high foreign language
proficiency, Serbia is a convenient place for basing a
hub for trade with the West and the East, and a pleasant environment for expats - Belgrade was chosen as
the City of the Future for Southern Europe 2006/07
by FDI Magazine.
Emerging Macedonia Winter 2015 Issue 44
EM: hat are some of the major foreign
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employers in the country?
Piscevic: Members of AmCham Serbia have, according to 2014 estimates, cumulatively invested over
14 billion Euros in the Serbian economy and they
employ more than 100,000 people. Among the biggest employers are NIS-Gazpromneft, Telenor, VIP
Mobile, Schneider Electrics, Eaton Electric, SBB,
Coca-Cola Hellenic, as well as major banks such as
Banca Intesa, Raiffeisen Bank and Eurobank.
The leading investment sector in Serbia is financial
in terms of investment volume and the automotive
sector leads in terms of number of projects started.
Automotive products represent Serbia’s top export
item for 2013, where the most significant investor
was Fiat that currently employs about 2,500 people.
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