Serbia to "fully suspend" incentives to investors

The Serbia Investment and Export Promotion Agency (SIEPA) and the Bankruptcy Supervision Agency will be shut down.

Source: Tanjug

This was announced by Minister of Economy Saša Radulović.

SIEPA’s activities will be taken over by the Ministry of Economy, and the sector to be in charge of the job will cost Serbia five times less than SIEPA, Radulovicćtold a press conference in Belgrade.

Part of the activities the Bankruptcy Supervision Agency has been in charge of will be put into the charge of the Privatization Agency, and a bankruptcy administrators board will also be set up, the minister said.

Radulović announced that there would be cuts in next year’s budget for the salaries of employees in ministries and government agencies, while incentives to investors to create new jobs "will be fully suspended."

Business & Economy

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