Q:
A:
Stimulation of national resources through investments in infrastructure
Belgrade /Vienna,
15 January 2013
Minister of Finance and Economy Mladjan Dinkic said today that the model for promoting economic growth must be changed completely, noting that Serbia has decided not to look for investments only in the West but in other regions as well, especially in the East.
Mladjan Dinkic
Author:
infobiro.tv
Dinkic, who is participating in the “Euromoney” annual conference in Vienna, said in a panel discussion themed "The crisis and the response to it" that this decade is different from the previous ones, and therefore requires different answers.
The Minister stressed that special attention should be given to cooperation with Russia, China, Turkey and the United Arab Emirates since these countries have potential in capital.
He said that an investment worth $1.2 billion has been agreed with China for construction of motorways in Serbia and added that cooperation with China was tested on the constriction of a bridge in Belgrade and it proved to be excellent.
Dinkic pointed out that the goal is to attract capital from all sides and to stimulate national resources by investing in infrastructure.
The Minister recalled that Serbia adopted a programme of fiscal reform and that the plan is to significantly reduce deficit this year.
After the measures implemented, Serbia is now stable and finances for the upcoming period have been secured, Dinkic noted.
According to him, Serbia must apply flexible models of economic growth in order to solve the problem of unemployment because the models used in the previous decade are no longer valid.
The Minister also called on the European Bank for Reconstruction and Development (EBRD) to join the programme of support to small and medium-sized enterprises (SMEs).
The Minister stressed that special attention should be given to cooperation with Russia, China, Turkey and the United Arab Emirates since these countries have potential in capital.
He said that an investment worth $1.2 billion has been agreed with China for construction of motorways in Serbia and added that cooperation with China was tested on the constriction of a bridge in Belgrade and it proved to be excellent.
Dinkic pointed out that the goal is to attract capital from all sides and to stimulate national resources by investing in infrastructure.
The Minister recalled that Serbia adopted a programme of fiscal reform and that the plan is to significantly reduce deficit this year.
After the measures implemented, Serbia is now stable and finances for the upcoming period have been secured, Dinkic noted.
According to him, Serbia must apply flexible models of economic growth in order to solve the problem of unemployment because the models used in the previous decade are no longer valid.
The Minister also called on the European Bank for Reconstruction and Development (EBRD) to join the programme of support to small and medium-sized enterprises (SMEs).
Mladjan Dinkic, left, and Suma Chakrabarti
He discussed with EBRD President Suma Chakrabarti the possibility of that bank earmarking funds and helping with expertise in the realisation of the Serbian government’s new programme for the support to SMEs sector.
Dinkic announced that in the first quarter of the year the Serbian government will make a programme of support to the SMEs which are promising, already have a market and can export more goods, produce more and employ more people. The state will give them a share in investments and temporary take a minority ownership in them.
I asked the EBRD Director if his bank can also invest some funds, he said and recalled that the Serbian government has set aside approximately €10 million to this purpose.
The Minister explained that Serbia needs EBRD for its expertise, i.e. to ensure that the selection process be independent since this bank has great experience in such investments.
The International Financial Corporation would also be included in that project, the Minister added.
Dinkic announced that in the first quarter of the year the Serbian government will make a programme of support to the SMEs which are promising, already have a market and can export more goods, produce more and employ more people. The state will give them a share in investments and temporary take a minority ownership in them.
I asked the EBRD Director if his bank can also invest some funds, he said and recalled that the Serbian government has set aside approximately €10 million to this purpose.
The Minister explained that Serbia needs EBRD for its expertise, i.e. to ensure that the selection process be independent since this bank has great experience in such investments.
The International Financial Corporation would also be included in that project, the Minister added.
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