Foreign investors want "stronger, faster" reforms

Foreign investors want "stronger, faster" reforms

Commenting on the latest EC annual report on Serbia's progress, Lazović told Tanjug that positive comments mean that Europe has not forgotten about Serbia, which constitutes primarily a positive impulse for foreign investors.

Brussels and Belgrade have come to the point when a new chapter in the Serbia-EU relations is about to open and during their mandates, both sides can get Serbia to the door of the EU, if not help it get full membership, Lazović noted.

He added that the recent visit of FIC officials to Brussels is an indicator that Serbia is on the right track when it comes to EU accession, regardless of the fact that chapters in the accession talks have not officially been opened and that the Union's foreign policy priorities at this point rest on the EU eastern border and not in the Balkans.

Around 70 percent of FIC members come from the EU and this is the reason why we deeply believe that opening the formal accession talks would provide an additional momentum and a signal for investors that Serbia is an attractive destination for foreign investments, Lazović said.

Another good sign would be an arrangement with the International Monetary Fund (IMF) because it would testify of the government's commitment to introducing order in public finance, he stated.

A similar signal could come from the EU itself in case of opening Chapter 32 on financial and budget control, Lazović noted.

During the visit to Brussels, we agreed that opening Chapter 32 would constitute additional progress, in addition to the arrangement with the IMF, in terms of the government's commitment to introducing order in public finance, he stated.

Serbia is facing a difficult economic situation, Lazović said and added that the situation is the outcome of several decades' long shunning of economic problems.

Reforms need to be stronger, faster and more efficient, Lazović said and underscored that the government should continue the public sector reform and reform of public enterprises, complete the restructuring and privatization process and carry out reforms in the healthcare system, education and justice.

The fight against grey economy needs to be intensified because gray economy has a 25 percent stake in the country's GDP, he noted.

In November, FIC will present to the government their White Book which contains a number of recommendations for improvement of the business climate, Lazović who also holds office as the head of Corporate and Regulatory Affairs CEFTA Region and Bulgaria British American Tobacco South East Europe.