Serbia best in region in attracting investment, says PM

Serbia best in region in attracting investment, says PM

Addressing the participants at the opening of the "EU-Serbia 2018: Investment, Growth and Job Creation Business Conference," Brnabic recalled that Serbia's priorities are attracting foreign investment, entering the EU and the innovation based economy.

She pointed out that the European Union is by far the most important trade partner of all countries in the Balkans, pointing out that Serbia's trade with the EU has increased by 47 percent in the last five years, while Serbia's exports to the EU have increased by 80 percent.

According to Brnabic, investors are looking for markets that have growth potential, stable business conditions and stable finances.

She pointed out that Serbia is an attractive investment country, because it is on the right track after the implementation of difficult reforms.

We managed to achieve economic growth in spite of fiscal consolidation, so we ended the year with surplus in the budget, the public debt was reduced, the eighth revision of the arrangement with the IMF was successfully completed, and the prestigious Fitch and S&P raised the credit rating of Serbia, Brnabic recalled.

The prime minister said that Serbia has progressed on the World Bank's "Doing Business" list and now occupies 43rd place, noting that the greatest progress has been made in the process of issuing construction permits, while at the moment it is working to improve the cadastre and on other reforms.

Employment is crucial for greater economic progress of the entire region, Brnabic stated and pointed out that reforms and economic growth nevertheless resulted in an increase in employment, a reduction in poverty and an increase in the purchasing power of citizens with the lowest incomes.

"Biggest partner"

Sem Fabrizi, head of the European Union Delegation to Serbia, said on Wednesday that the EU was the biggest helping hand to Serbia's economic growth and new jobs, Beta reported.

The EU is by far the largest trading partner, provider of financial aid, investor and donor to Serbia, Fabrizi said regarding the conference EU-Serbia 2018: Investment, Growth and Hiring, whose opening included European Parliament President Antonio Tajani and Serbian Prime Minister Ana Brnabic.

Fabrizi said the "important projects" of modernizing the railway between Nis and Dimitrovgrad had been signed on Jan. 31, as was the new tranche of donations to provide accommodation to displaced persons and refugees, the EU Delegation said in a press release.

He said the reconstruction and modernization of the Nis-Dimitrovgrad railway line was one of the main projects, not only because of over EUR200 million in loans and donations from the EU, but because of the effect on the economy and people of Serbia.

Fabrizi said he expected investments in transport infrastructure to boost the region's gross domestic product by one percent each year over the next 15 years, and to contribute to creating over 200,000 new jobs.

He said a new, EUR18-million tranche had been signed to provide housing for displaced persons and refugees from the former Yugoslavia.

Serbia is the biggest recipient in the program, Fabrizi said, adding that a total of EUR105 million had been secured in donations in Serbia to date, for almost 6,300 housing units in Serbia, which means a roof over their heads with decent conditions for 6,300 families who lost everything in a tragic time.