Q:
A:
Privatisation, FDI provide $800 million this year
Belgrade,
29 December 2004
Serbian Deputy Prime Minister Miroljub Labus said that privatisation and foreign direct investment (FDI) provided nearly $800 million this year.
Miroljub Labus
In an interview for Tanjug, Labus said that to be satisfactory, the level of FDI would need to be at least $ 2 billion.
According to him, the budget projected a 9 billion dinar inflow from privatisation, but it is expected that revenues will be larger due to the privatisation of banks, sale of shares from the Share Fund and sale of the remaining socially owned companies.
He announced that changes to the laws on Share Fund, privatisation and securities will be adopted early next year.
He said that the state has almost no managerial rights in some 600 companies where it has a stake, noting that the state owns over 25 percent of shares in 400 companies. Of that number, only 100 are operating well, he said.
Labus explained that the state will be able to influence the decision-making at shareholder assemblies. He noted that solutions for the three disputed cases, Jugoremedija, Knjaz Milos and C Market, were found.
He said that a lack of regulations resulted in a negative situation, and expressed belief that such cases will not emerge again. According to Labus, the privatisation model should remain the same, but that the 600 companies should rather be sold through a tender. Only through tenders can the state ask that social and investment programmes be carried out, he said.
Labus expressed hope that the changes of the mentioned laws will be adopted in January 2005 at the parliament’s supplementary session.
According to him, the budget projected a 9 billion dinar inflow from privatisation, but it is expected that revenues will be larger due to the privatisation of banks, sale of shares from the Share Fund and sale of the remaining socially owned companies.
He announced that changes to the laws on Share Fund, privatisation and securities will be adopted early next year.
He said that the state has almost no managerial rights in some 600 companies where it has a stake, noting that the state owns over 25 percent of shares in 400 companies. Of that number, only 100 are operating well, he said.
Labus explained that the state will be able to influence the decision-making at shareholder assemblies. He noted that solutions for the three disputed cases, Jugoremedija, Knjaz Milos and C Market, were found.
He said that a lack of regulations resulted in a negative situation, and expressed belief that such cases will not emerge again. According to Labus, the privatisation model should remain the same, but that the 600 companies should rather be sold through a tender. Only through tenders can the state ask that social and investment programmes be carried out, he said.
Labus expressed hope that the changes of the mentioned laws will be adopted in January 2005 at the parliament’s supplementary session.
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