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The Government of the Republic of Serbia

In the service of citizens

Multinational companies willing to engage Serbian companies as suppliers

Belgrade, 7 November 2006

Director of the Serbian Investment and Export Promotion Agency (SIEPA) Jasna Matic said today that 11 multinational companies are ready to cooperate with small and medium-sized enterprises (SMEs) in Serbia, as their suppliers.

Mladjan Dinkic, left, and Jasna Matic at today's press conference

Author: Fonet

Matic told a press conference that SMEs should adapt production and business to international standards, and added that they will be provided support by the Serbian Investment Promotion Programme (SIPP), which is being implemented in Serbia by the Multilateral Investment Guarantee Agency (MIGA), in cooperation with SIEPA.

She called upon owners of SMEs to report for the competition for distribution of funds by November 15. The total amount of funds is €500,000, while a sum of €100,000 has been allocated for technical support.

Matic specified that 150 domestic companies will be selected, where special training will be carried out, and on October 2007, a further selection of 30 companies will be made which are qualified to become suppliers for multinational companies.

Serbian Minister of Finance Mladjan Dinkic expressed expectation that development of the chain of domestic suppliers will contribute to the development of economy and reduce unemployment in Serbia.

Dinkic recalled that precisely by developing such a chain of domestic suppliers Ireland managed to reduce unemployment by half within five years, and added that it is planned that funds for a programme for developing domestic suppliers are included in the 2007 budget.