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The Government of the Republic of Serbia

In the service of citizens

Despite crisis, this year is excellent for foreign investments

Belgrade, 22 November 2022

Prime Minister Ana Brnabic said today, at the presentation of the "White Book 22" of the Foreign Investors Council, that Serbia, despite the crises caused by the coronavirus and the war in Ukraine, continues to attract foreign direct investments.

Brnabic stated that foreign investments and the crisis usually do not go together and that investors in such conditions find it difficult to decide on new investments, but that we managed to prevent it from happening here.

She emphasised that our country had a record year in 2021, when it comes to foreign direct investments, but that this year is also excellent, because by October we had a net inflow of foreign investments of €3.11 billion, which is 0. 3 percent more than in the same period last year.

The Prime Minister stated that the government has established the Office for Dual Education, which should work to increase the share of practical teaching in that type of education, as very important for investors.

Brnabic pointed out that work will also be done on digitalisation and the introduction of electronic administration, adding that the National Bank of Serbia is working on the introduction of digital promissory notes.

Addressing the press, Brnabic pointed out that the assessment of the Foreign Investors Council is ultimately positive for Serbia, but that it is always possible to do more and faster.

She pointed out that a large part of the recommendations of the Foreign Investors Council in the "White Book" is in agreement with what our country thinks it should do, adding that we have the same vision of where we should go.

Speaking about Serbia's reputational risk, which was said to have increased since the beginning of the war in Ukraine, the Prime Minister emphasised that our country is seriously dealing with that issue.

After 24 February, we had many questions and requests from investors, both those who are already here and those who were just planning to come, to clarify the position of Serbia, she said.

According to her, the state prepared a document explaining our position and sent it to everyone who was interested.

The Prime Minister pointed out that that document had enough arguments, which is also shown by the fact that there was no giving up on investments.

She repeated that this year Serbia had more foreign investments than last year and that now our position is much clearer, and the reputational risk is smaller than in February, March or April.

It even turned in the other direction because those who do business in Serbia are deprived of the risk of extraordinary increases in energy prices and can count on stability in our country, she said.

Brnabic also said that a buyer has been found for the Glass Factory in Paracin and that she or President of Serbia Aleksandar Vucic will visit that city next week.