Q:
A:
Reform of the financial sector moving in a positive direction
Belgrade,
14 March 2005
Serbian Minister of Economy Predrag Bubalo stated today that with the adoption of systemic regulations during 2004, an important step was made in creating a favourable investment environment, even though the effects of those laws are not yet felt in full measure in practice.
Author:
Fonet
At a round table entitled “Investment climate, regulatory reform and removal of administrative barriers for the development of the private sector in Serbia”, Bubalo reminded that last year the Law on Companies as well as laws on registering economic entities and bankruptcy were adopted.
Bubalo explained that this especially relates to the influence of adopted regulations on small and medium size enterprises, which are the main category in the process of restructuring the local economy. He said that the aim of the round table, organized by the Ministry of Economy, the World Bank and the World Bank Institute, is to continue talks on improving the investment climate in the country and promote the work of the Regulatory Reform Council.
World Bank experts assessed today that the reform of the financial sector in Serbia-Montenegro has gone far, however privatization had made a good start, then halted and has only recently been revived.
Head of the World Bank Office in Belgrade Caroline Junger said that in order to create an good investment environment in Serbia, the authorities need to regulate the honoring of contracts, remove credit barriers, improve infrastructure and protect ownership rights with additional emphasis on changing the ownership structure and stimulating competition.
She underlined that the authorities should reform public administration and secure full implementation of adopted legal acts.
Bubalo explained that this especially relates to the influence of adopted regulations on small and medium size enterprises, which are the main category in the process of restructuring the local economy. He said that the aim of the round table, organized by the Ministry of Economy, the World Bank and the World Bank Institute, is to continue talks on improving the investment climate in the country and promote the work of the Regulatory Reform Council.
World Bank experts assessed today that the reform of the financial sector in Serbia-Montenegro has gone far, however privatization had made a good start, then halted and has only recently been revived.
Head of the World Bank Office in Belgrade Caroline Junger said that in order to create an good investment environment in Serbia, the authorities need to regulate the honoring of contracts, remove credit barriers, improve infrastructure and protect ownership rights with additional emphasis on changing the ownership structure and stimulating competition.
She underlined that the authorities should reform public administration and secure full implementation of adopted legal acts.
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