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The Government of the Republic of Serbia

In the service of citizens

Creating better investment environment

Belgrade, 21 July 2014

Prime Minister Aleksandar Vucic stated that reform of public companies and the solution of problems of companies in restructuring are the most important for recovery of the domestic economy, which requires big and fundamental changes that are necessary so that measures of fiscal consolidation could produce results.

In an interview to today’s issue of daily Blic, Vucic explained that fiscal consolidation is meaningless without addressing these problems because in that case everything that is saved would be spent on the above-mentioned companies.

The Prime Minister announced that in the first 100 days of work of the Serbian government, by 4 August, and even before this date, directors of many public companies will be changed, and underlined that as of now all directors will be elected through public competitions.

Until the election of new directors, their duties will be performed by acting directors, and those will be the people who are specialists in their areas of expertise, he noted.

Vucic confirmed that current Minister of Economy Dusan Vujovic will be a new minister of finance, while the decision on the new minister of economy is yet to be made.

The Prime Minister reiterated that, in addition to the Labour Law, several more reform laws need to be adopted, such as the law on privatisation and bankruptcy, whose aim is to help workers in factories in restructuring.

He explained that these laws are part of reforms that should lead to a better investment environment.

The Labour Law has not been amended in order to protect someone, but to create the best possible conditions for the investment in our country, as well as conditions for employers to make profit, to pay their costs and hire workers, Vucic underlined.

The Prime Minister said that the situation regarding solving problems of Ikarbus is going well, and the same goes for car factory Fabrika automobila Priboj, noting that the biggest problems remain Zelezara Smederevo steelworks, petrochemical factory Petrohemija and furnishing manufacturer Simpo.