Q:
A:
Draft of new law on foreign investment prepared
Belgrade,
15 June 2006
Serbian Minister of International Economic Relations Milan Parivodic said today that a draft of a new law on foreign investment has been prepared, which envisages reliefs for foreign investors in Serbia.
Milan Parivodic
Author:
Beta
Parivodic explained at a press conference that these reliefs will be available to investors who invest significant funds, open new workplaces or attract other foreign companies to Serbia with their reputation.
According to the new law, local self-governments will be required to open one-stop shops at which foreign investors will submit requests for all permits necessary for construction of production facilities or for launching a business in already existing facilities.
The Minister specified that by-laws will establish fines for authorities in local self-government who postpone the issuing of permits for launching investments.
Parivodic said that the investors in municipalities will be required to make an investment of at least €300,000 and employ 10 workers in order to get the permit, while in the cities the requested amount of investment will be at least €500,000 and the employment of 20 workers. For Belgrade, the condition is an investment of €1 million and creation of 20 jobs.
Such conditions will not be set for the leading world firms because they themselves are the best recommendation for other investors, the Minister said.
Parivodic emphasised that the state is prepared to give foreign investors additional benefits for employing a larger number of workers, as well as to the investors for which the state determines that they are of special importance for Serbia's strategic development.
He said that by early November this year, the Ministry of International Economic Relations will prepare five laws that deal with the privatisation of municipal land, construction regulations and urban planning.
According to the new law, local self-governments will be required to open one-stop shops at which foreign investors will submit requests for all permits necessary for construction of production facilities or for launching a business in already existing facilities.
The Minister specified that by-laws will establish fines for authorities in local self-government who postpone the issuing of permits for launching investments.
Parivodic said that the investors in municipalities will be required to make an investment of at least €300,000 and employ 10 workers in order to get the permit, while in the cities the requested amount of investment will be at least €500,000 and the employment of 20 workers. For Belgrade, the condition is an investment of €1 million and creation of 20 jobs.
Such conditions will not be set for the leading world firms because they themselves are the best recommendation for other investors, the Minister said.
Parivodic emphasised that the state is prepared to give foreign investors additional benefits for employing a larger number of workers, as well as to the investors for which the state determines that they are of special importance for Serbia's strategic development.
He said that by early November this year, the Ministry of International Economic Relations will prepare five laws that deal with the privatisation of municipal land, construction regulations and urban planning.
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