Between the two editions of the White Book (2016 and 2017), Serbian government accomplished good macroeconomic results – says Yana Mikhailova, president of the Foreign Investors Council (FIC) in Serbia.
“The FIC expects for the joint task force, founded together with the government, to become a mechanism that will expedite reforms”, Mikhailova said at the official presentation of the 2017 White Book.
Serbia’s progress is 33%, which is the same as last year’s. “GDP is growing, fiscal consolidation is ongoing, employment rate in the private sector is higher, and these are all good signals for new investors”, Mikhailova added.
“What remains to be done is to implement complex and rather difficult structural reforms, expedite privatization of public enterprises, boost the development of private sector, and increase predictability for businesses”, she underlined.
The Foreign Investors Council also said that the business climate in Serbia was much better now than 10 years ago, and that the Serbian government implemented 33 recommendations from last year’s White Book. The FIC has also praised the development of tobacco industry in Serbia, reduction in the number of unregistered workers, and the liberalization of the electricity market.
On the other hand, they object to customs regulation in Serbia not harmonized with the European customs laws, and the slow harmonization of the Serbian Food Safety Law with its EU counterpart. Foreign investors are still adamant that the privatization of public enterprises would significantly boost the efficiency and productivity of the Serbian economy and create a level playing field for all companies.
Another problem is that PayPal users in Serbia can only receive money from abroad and not send it. Also, PayPal still doesn’t recognize Serbian dinar as payment currency.
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