Belgrade Fair won't be privatized

BELGRADE -- The Belgrade Fair will not be privatized, State Secretary with the Ministry of Economy and Regional Development Nebojša Ćirić told Tanjug Tuesday.

Instead, the it will become a state company, he revealed.

As soon as the Privatization Agency tenders commission officially declares the failure of the recent tender for privatization of the Belgrade Fair, probably next week, the procedure for its transformation into a 100-percent state company will start and take about two months, he said.

The government, Belgrade City and the Belgrade Fair will then manage the company and invest in it jointly, he said.

Asked whether the state plans to invest in the company although it is profitable, he said one way of doing this would be through loans and another is similar to the Vienna Fair model, in which the state owned company selects a management for several years.

Few companies, mainly those for which privatization has failed, were transformed into state companies, he said.

The tender for privatization of the Belgrade Fair failed after Verano and Rimini companies refused to offer the price of EUR 40mn set by the Ministry of Economy negotiating commission.