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The Government of the Republic of Serbia

In the service of citizens

Diaspora called upon to invest in Serbia

Belgrade, 29 June 2006

Serbian Deputy Prime Minister Ivana Dulic-Markovic called upon representatives of Serbian diaspora to return or to invest into Serbia, as a leading country in economic and political reform in the region.

Ivana Dulic-Markovic

Speaking at the opening of the two-day event “St. Vitus’ Day celebrations in Serbian diaspora”, Dulic-Markovic said that international financial institutions, including the International Monetary Fund, have acknowledged the excellent results of economic reforms in Serbia, shown by economic growth of 40% achieved in the previous five years.

She said that returning to Serbia is profitable, since the foreign currency reserves stand at $8.5 billion, citizens’ savings are worth $3 billion, inflation is under control, the external trade deficit has been reduced by 17%, and exports have risen by 30%.

We all expected a lot more, better and faster, but everything depends on those who really work, and not on those who wait for something, said the Deputy Prime Minister, and added that none of us can manage alone, together we can do much better, and we should all move ahead together step by step.

Vojislav Vukcevic speaks at the opening of the event

Serbian Minister of Diaspora Vojislav Vukcevic pointed out that Serbia lives off $4 billion from the diaspora, but does not invest and create material goods which the country could live from.

It is up to you to decide if you want to give and how much, but not in a way that others profit, rather so that you get a profit, stressed Vukcevic, and added that an investment fund is a possible solution, in which the diaspora would invest according to its ability, for developmental programmes, and receive profit in accordance with the investment made.

Governor of the National Bank of Serbia Radovan Jelasic said that the diaspora annually supports Serbia with some $4 billion, but such “patriotic investments” do not have a future, they have to be replaced by profitable investments and the inclusion of experts from the diaspora in the process of economic reform.

The event “St.Vitus’ Day celebrations in Serbian diaspora” is being held under the organisation of the Ministry of Diaspora and the Serbian Chamber of Commerce, aiming to deepen relations between the motherland and the diaspora. The gathering is also being attended by prominent businesspeople, intellectuals, representatives of diaspora associations, humanitarian organisations, and representatives of the church and state.