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The Government of the Republic of Serbia

In the service of citizens

Serbia to become brand in global marketplace

Belgrade, 2 May 2005

Serbian Minister of Economy Predrag Bubalo said today that Serbia must become a brand in the global marketplace by improving its image in order to attract foreign direct investment.

Predrag Bubalo

Opening a conference of Gallup International, a global chain of market research firms, Bubalo said that the arrival of foreign investors is directly linked to Serbia’s progress in reforms and he stressed that export-oriented growth is crucial for progress towards a market economy.

According to him, Serbia can no longer build its competitiveness on cheap labour and state subsidies.

The situation in the Serbian economy is largely defined by what happened in the 1990s but citizens’ expectations from the government are still high, said Bubalo.

He explained that foreign investors attach greater importance to social and political than to economic stability in Serbia because they believe that social and political stability are the foundations of economic progress.

Gallup International Chairman Tony Cowling welcomed social and economic surveys conducted in Serbia, similar to those carried out by Gallup International.

Cowling said that Gallup International can help the Serbian government to better understand citizens’ expectations. He also announced that a Gallup Foundation will be set up this year with the aim of giving support to the population in communication with political and business leaders.