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The Government of the Republic of Serbia

In the service of citizens

RSD 225m for encouraging investment, competitiveness of Serbian economy

Belgrade, 30 July 2013

State Secretary of the Ministry of Finance and Economy Aleksandar Ljubic delivered today contracts on allocation of grants in the amount of RSD 225 million intended for encouragement of competitiveness and internationalisation of the Serbian economy.

Bozidar Laganin and Aleksandar Ljubic

Author: Tanjug

The grants, for which companies applied under the Programme for encouragement of competitiveness and internationalisation of the Serbian economy of the Serbian Investment and Export Promotion Agency (SIEPA), were given to 340 domestic exporters, five exporters start-ups and eight associations.

Ljubic underlined that the export is the brightest spot of the Serbian economy and that thanks to the work on the Economic Growth Strategy that is based on export, an economic growth of 21% has been recorded in the first half of the year.

He said that in April alone Serbia saw the record exports worth €950 million, adding that economic growth and new jobs are possible only if the state works at the same time on improving business environment and eliminating red tape.

According to him, it is necessary for Serbia to export as many finished products as possible, as well as for major exporters to cooperate with small businesses so that the majority of suppliers of parts, components, services and raw materials could be from Serbia.

SIEPA Director Bozidar Laganin explained that the grants are allocated in the form of reimbursements in the amount of 50% to 75% of the total costs, excluding VAT, for activities such as independent exhibitions at international fairs, design, the printing of promotional materials, protection of intellectual property and localisation of software products.

So far 2,600 companies have participated in the Programme for encouragement of competitiveness and internationalisation of the Serbian economy which SIEPA launched in 2006, and it approved more than RSD 700 million in grants, Laganin stated.