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The Government of the Republic of Serbia

In the service of citizens

Opportunities for Serbia in the infrastructure and energy sectors

Belgrade, 20 October 2005

Serbian Minister of Economy Predrag Bubalo said today following talks with representatives of the German Committee on Eastern European Economics that German businessmen have shown interest in investing in various sectors, above all in the energy and infrastructure sectors, which are considered to be of particular significance to Europe.

Predrag Bubalo addresses the media following talks with representatives of the German Committee on Eastern European Economics

Bubalo said that the delegation of German businessmen is one of the largest of its kind to visit Serbia and Belgrade in the past six years, adding that the guests from Germany, led by the president of the Committee on Eastern European Economics Klaus Mangold, also criticised certain elements, above all those concerning administrative delays and the creation of conditions needed for investment in Serbia.

Serbian Minister of International Economic Relations Milan Parivodic expressed expectation that German companies will come to Serbia and build industrial parks, which will be an effective platform for attracting other companies to Serbia.

According to Parivodic, Mangold has pledged that the German credit insurance group Hermes will make efforts to give Serbia a better credit rating.

Mangold said in a statement to the press that Germany strongly supports Serbia’s association with the EU and added that Germany has found considerable economic potential in the Serbian business community, which has promised its support towards useful cooperation.

He said that Serbia has great opportunities in key sectors of the economy, above all in the upcoming privatisation of social and state enterprises, investment in infrastructure and the development of logistics, such as expansion of harbours, airports and roads.

According to Mangold, logistic development in Serbia is a great potential that can help the country speed up its association process with the EU, and, furthermore, Germany is interested in gaining additional benefits from using the tax-free trade status of Russia and Serbia.

Mangold said that in spring a large two-day Serbian-German symposium will be held in Germany, at which matters such as infrastructure, logistics and the expansion of greenfield investments will be discussed. He recalled that within the framework of a programme started by the late Serbian Prime Minister Zoran Djindjic more than 200 young persons from Serbia received expert training in German firms.