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The Government of the Republic of Serbia

In the service of citizens

Bubalo presents awards to SMEs

Belgrade, 30 January 2006

Serbian Minister of Economy Predrag Bubalo, together with members of the Pro Credit Bank and Business Journalists' Club panel, presented awards to representatives of the most successful micro, small and medium-sized enterprises in 2005.

Predrag Bubalo

Author: Tanjug

In the category of micro enterprises, the most prestigious statuette named "Pro Business leader 2005" went to the Novi Pazar-based Beltex company, while prize winners in the categories of small and medium-sized enterprises were Belgrade-based company Infarm and Gornji Milanovac-based company Spektar, respectively.

During the event, Bubalo said that micro, small and medium-sized enterprises represent the backbone of economy, development, employment and future of the country. He said that thanks to the Serbian government's measures in the areas of loan granting and simplification of registration procedures, last year only saw the foundation of 10,600 new companies.

Bubalo added that Pro Credit Bank has started a programme of stimulating SMEs hoping that they will rapidly develop and create large partnerships.

Pro Credit Bank Deputy General Manager Gian Marco Felice said that in the last four years the bank has granted more than 47,000 loans to SMEs worth €210 million. He pointed out that these loans make up 95 % of the total lending activities of the bank.

Mini statues "Pro Business leader 2005" were awarded to the representatives of the micro companies Serb from Belgrade, Fotografika from Kanjiza, Aluminiko from Pancevo and Avala from Klenj.

The same award was received by small enterprises MBN from Uzice, Pragis from Pancevo, Lav md from Pozega and Kovac mont from Stari Banovci, as well as medium-sized enterprises Eurosalon and Grafocard from Belgrade, Sirogojno from Sirogojno and Pro mont group from Novi Sad.

The aim of the event is to promote entrepreneurship. Some 86 companies throughout Serbia took part in last year's competition, trying to win points for 14 elements, especially annual turnover, the value of investment, export, net profit and growth rate.