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The Government of the Republic of Serbia

In the service of citizens

Serbian government to provide full safety to all investors

Smederevska Palanka, 27 February 2008

Serbian Minister of Economy and Regional Development Mladjan Dinkic said today in Smederevska Palanka that the Serbian government will provide full safety to foreign and domestic investors, whom he invited to continue investing in Serbia freely.

During his visit to the privately owned Gosa train carriage factory, owned by Slovakian company ZOS Trnava, Dinkic said that the Serbian government will do everything to provide full safety to all investors, which implies guarantees for property and investments and full respect of all Serbian laws, especially the Law on foreign investment.

All serious investors have the chance to receive support from the government in Serbia, and we will do everything to maintain stability and speed up our economic development. Foreign and domestic investors are welcome if they are serious and employ Serbian citizens, the Minister underlined.

Concerning the position of the Slovakian government not to recognise the unilateral proclamation of independence by Kosovo, Dinkic said that Serbia is grateful to all those who did not recognise the province’s illegal independence, and added that Slovakia has had a principled stance all the time - both during the negotiations and after the illegal declaration of independence.

The Minister recalled that the company ZOS Trnava was announced exporter of the year and added that it is a partner we can rely on in the European Union.

Slovakian Ambassador to Serbia Igor Furdik said that development of the Serbian economy can no longer be stopped and that his message to Slovakian businessmen is very simple, and that is that they should invest in Serbia.

Dinkic also visited today the Prva Petoletka factory in Trstenik and said that the Serbian government will provide additional funds for subsidies in order to successfully prepare that factory for sale.

He said that successful privatisation of that factory and Zastava from Kragujevac are priorities of the Ministry of Economy and Regional Development.

The Minister said that two companies are interested in purchasing the factory from Trstenik: The united industrial investment corporation from Russia and Austrian Palfinger.

Today we agreed that in the next three weeks, representatives of the leadership of Prva Petoletka, trade unions and the Serbian Privatisation Agency will visit Russia and Austria and then make a decision on the privatisation model, Dinkic said.