Domestic companies rarely apply for state’s export incentives

Domestic companies rarely apply for state’s export incentives

A very small number of domestic companies apply for state subsidies from the Development Agency of Serbia (RAS) annually, which are intended to promote exports.

In the last four years (from 2019 to 2022), a total of 72 of them applied for these incentives, while in 2021 alone, only 14 companies applied – said Milena Radović, investment adviser in RAS, during a panel discussion organized by the BFPE Foundation.

The participants of the panel “Foreign direct investments – a chance or a challenge for the local business community” pointed out that there wasn’t enough workforce in Serbia and that investors in Serbia are in dire need of qualified workers, which is why we must step up worker training and education.

“Since 2019, RAS has introduced several programmes to support companies with becoming part of the supplier chains of multinational companies. We also have a programme for export promotion and equipment for small and medium-sized enterprises. There are also incentives for market research and marketing projects”, Radović added.

The largest number of small and medium-sized companies apply for equipment incentives, which means that their equipment is mostly outdated, she adds.

According to her assessment, foreign investors are a significant driving force in the Serbian economy because they bring new technologies and a new way of thinking.

Bojan Stanić from the Serbian Chamber of Commerce (PKS) said that the influx of foreign direct investments in Serbia was felt both at the national and local levels. He reminded that in the first nine months of this year, there were 3.2 billion euros worth of FDIs were made in Serbia.

“We are satisfied with the volume of foreign investments, but not with their structure. We need to include domestic companies as much as possible in supply chains for production components,” said Stanić.

(Nova Ekonomija, 13.12.2023)

This post is also available in: Italiano

Share this post

Leave a Reply

Your email address will not be published. Required fields are marked *

scroll to top
× Thinking to invest in Serbia? Ask us!