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The Government of the Republic of Serbia

In the service of citizens

Foreign investment bill to attract investors

Belgrade, 30 August 2006

Serbian Minister of International Economic Relations Milan Parivodic said today that the Bill on foreign investment will attract larger foreign direct investments and guarantee strict respect of contracts to investors.

Author: FoNet

Presenting the Bill to a group of foreign investors at the Palace Hotel, Parivodic said that the new law will guarantee freedom in foreign investment and national treatment of foreign investors. He added that these rights of the foreign investor will not be challenged by any laws that may be introduced later.

According to the Bill on foreign investment, any foreigner who wants to invest in Serbia can invest freely, and limitations are valid only in the production and trade of weapons and in the media, explained Parivodic.

He said that through the introduction of the one-stop-shop system a foreign investor can quickly and efficiently secure all necessary documents for investing, in any part of Serbia, at one place. The agreement on foreign investment signed with the president of the municipality in question and the local self-government would act as guarantee the Minister stated.

Parivodic said that the condition for using the one-stop-shop system in municipalities throughout Serbia is provision of employment to at least ten persons or an investment of €500,000. In cities the condition is offering 20 jobs or an investment worth €1 million, and in Belgrade the condition entails opening up 30 job vacancies or an investment worth €1.5 million.

He explained that when it comes to the one-stop-shop system regarding general investment, the condition for using it is employing 50 persons or an investment of €10 million in the first two years of conducting business in Serbia, or a minimum investment of €3 million in the development of high technology.

The Business Registers Agency will be responsible for the registry of foreign investments, which were until now monitored only through the influx of money from abroad to the National Bank of Serbia, said Parivodic.