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The Government of the Republic of Serbia

In the service of citizens

Government to ensure stability for investors

Belgrade, 3 March 2008

Serbian government representatives informed domestic and foreign investors today that the government will ensure macroeconomic stability, safety of their property, dynamics in economic growth and a specific solution to overcome investment obstacles.

Mirko Cvetkovic, Bozidar Djelic, Mladjan Dinkic and Radovan Jelasic

Following a meeting, Serbian Deputy Prime Minister Bozidar Djelic said that from the year 2000 onwards foreign investors invested over $15 billion in the Serbian economy and employed around 100,000 people, and stressed that foreign direct investments are Serbia’s future.

The government gave firm guarantees to domestic and foreign investors assuring them of macroeconomic stability and budget rebalancing, however without increasing taxes and public spending. The government will ensure the safety of people and property and compensate the recent damage to several embassies in Belgrade.

Djelic specified that the government will stick to its economic goal for 2008, which is GDP between 6% and 7%, inflation rate of between 6% and 7%, and industrial growth at year’s end of around 4%.

As far as foreign investments are concerned, the aim for 2008 is at least €3 billion.

The Serbian Deputy Prime Minister and the ministers explained that from now on the Serbian government will always be at the disposal of all potential domestic and foreign investors who want to invest in the Serbian economy, and that they will fight for a more simplified investment procedure.

Apart from Djelic, the meeting was also attended by Minister of Economy and Regional Development Mladjan Dinkic, Minister of Finance Mirko Cvetkovic and governor of the National Bank of Serbia Radovan Jelasic.

Investors were represented by President of the Foreign Investors Council Stein Erik Vellan, President of the American Chamber of Commerce Dejan Cvetkovic and President of the Serbian Chamber of Commerce Milos Bugarin.