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A:
Serbia expects $2 billion in foreign investment by year-end
Belgrade,
23 June 2006
Serbian Minister of International Economic Relations Milan Parivodic voiced expectation late yesterday that foreign investors will invest in Serbia more than $2 billion by year's end.
Milan Parivodic
In a broadcast on Studio B television, Parivodic said that the sale of mobile telephony alone should bring Serbia more than €1 million, and the sale of Vojvodjanska Banka another €400 million.
Parivodic recalled that last year the level of foreign investment in Serbia was some $1.5 billion, of which direct "greenfield" investment were relatively low.
According to the Minister, the major obstacles to attracting foreign direct investment are "the blockade of city building land, which is still state-owned, which discourages investors to a large extent," but red tape as well.
The Minister said that adoption of new laws in the fields of construction and urban planning, which are in the process of preparation, will remove those obstacles.
Along with removing obstacles in the legal system, Serbia will be able to attract a significantly larger amount of direct investment after it resolves its political problems, including the cooperation with the Hague tribunal and the problem of Kosovo-Metohija, and finally focuses on its economy and European integration, Parivodic concluded.
Parivodic recalled that last year the level of foreign investment in Serbia was some $1.5 billion, of which direct "greenfield" investment were relatively low.
According to the Minister, the major obstacles to attracting foreign direct investment are "the blockade of city building land, which is still state-owned, which discourages investors to a large extent," but red tape as well.
The Minister said that adoption of new laws in the fields of construction and urban planning, which are in the process of preparation, will remove those obstacles.
Along with removing obstacles in the legal system, Serbia will be able to attract a significantly larger amount of direct investment after it resolves its political problems, including the cooperation with the Hague tribunal and the problem of Kosovo-Metohija, and finally focuses on its economy and European integration, Parivodic concluded.
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