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The Government of the Republic of Serbia

In the service of citizens

Serbia attractive destination for American investors

Belgrade/Washington, 26 July 2018

Prime Minister Ana Brnabic spoke today in Washington with members of the Business Council for International Understanding (BCIU), among whom are representatives of large multinational companies such as NCR, Visa, Philip Morris, Master Card and others.

Brnabic presented to members of the Business Council the results of the reforms that Serbia has implemented to achieve fiscal consolidation and macroeconomic stability.

The goal of the government of Serbia is to provide a predictable and stable business environment and to ensure a long-term sustainable economic growth, the Prime Minister pointed out.

Brnabic said that we are working on further improving our position on the Doing Business list of the World Bank.

In the previous period, we managed to reform the process of issuing building permits, which are now being issued electronically, and thus we eradicated corruption from the entire process of granting construction licences.

We are working hard to modernise public administration and introduce a number of electronic services, in order to have public administration in the service of citizens and economy, the Prime Minister pointed out.

In addition, the government's priority is the rule of law and the strengthening of the efficiency and independence of the judiciary.

The Prime Minister stated that at a meeting with US Treasury Secretary Steven Terner Mnuchin, representatives of the IMF and the World Bank, she discussed finding a solution for double taxation of Serbian entrepreneurial firms from the Silicon Valley.

The host of the event, NCR, emphasised that Serbia is a great country for investment and the Serbian government a "great partner", which is why this company wants to expand its business in Serbia.

This company in Serbia already employs more than 2,500 people, and in the next 10 years it plans to invest about €400 million.

The Philip Morris representative praised the Government of Serbia and Prime Minister Brnabic for the improvement of business climate in the country and their commitment to suppress the gray economy.

During the talks with the Prime Minister of Serbia, members of the Business Council were particularly interested in the education sytem in Serbia and its reform.

Brnabic said that Informatics and Computing have been introduced as a compulsory subject from the fifth grade of elementary school, that digital textbooks have been introduced, as well as entrepreneurship and financial literacy, so that young people could get prepared for challenges on the labour market.

The Prime Minister pointed out that Serbia is intensively working to modernise its transport infrastructure, because it is a transit intersection of that part of Europe.

She stated that road corridors 10 and 11 are almost completed and that the works are in progress on the fast railway from Belgrade and Budapest.

The infrastructure projects that are particularly important for Serbia are the "motorway of peace" leading to the Albanian port of Durres, the motorway linking Belgrade and Sarajevo and the motorway to Bulgaria.