Ministry of Economy allocates 420 million dinars in subsidies for direct investments

The Ministry of Economy announced that on Friday (17th March) it launched a public call for allocation of subsidies for direct investments in accordance with the Decree on the Terms and Conditions for Attracting Direct Investments.

Serbian Economy Minister, Goran Knezevic said that the state authorities have been investing a lot of effort and engaging substantial capacities on developing entrepreneurship in Serbia, which oftentimes has a smaller potential than foreign investors, which is the main reason why the Ministry launched this public call.

To request more information on investment incentives and details about the relevant procedure you can send an email to office@eastcom.it

The minister goes on to say that the basic idea is to financially support smaller investment projects too, particularly those in undeveloped and devastated areas. In this case, the subsidies could be allocated to projects of under 100,000 EUR in value which would create at least 10 new jobs.

“We take care about domestic investors and through various formats of support, we want to facilitate their growth even further”, Knezevic said adding that it is the private sector, i.e. SMEs, that are the backbone of economic growth.

The minister reminds that the Decree stipulates allocation of funds for investment projects in production and service sector that may be subject to international trade, as well as funds for investment projects in agriculture and fishery.

“We take care of domestic investors and through various formats of support we want to facilitate their further growth”, Knezevic said adding that the private sector, i.e. SMEs, is the backbone of economic growth.

The total available amount for subsidies is 420 million dinars which comes from the budget of the Serbian Development Agency. The allocation will continue until all the funds are spent.

According to the Decree on the Terms and Conditions for Attracting Direct Investments, investors can be given between 3,000 EUR and 7,000 EUR per each new job they create.

The amended Decree, which came into effect in late 2016, stipulates that the minimum required new jobs that will be created as a result of investment projects is now 10, and the minimum required investment is EUR 100,000. These requirements pertain to investments implemented in undeveloped and the so-called economically devastated areas in Serbia.

The subsidy requirement for investments in the municipalities that belong to the fourth group (groups are classified as per their development level) is EUR 200,000 in investments and 20 new jobs. In the municipalities belonging to the third group, the subsidy requirement is EUR 300,000 and 30 new jobs, and in regard to the municipalities that belong to the second category the minimum investments should be EUR 400,000 and 40 new jobs. The requirement for investments in most developed municipalities is EUR 500,000 and 50 new jobs.

“The Decree now envisions the possibility of supporting in the sectors of agriculture and fishery (minimum EUR 2 million in investments and at least 25 new jobs created” – the Ministry of Economy says.

To request more information on investment incentives and details about the relevant procedure you can send an email to office@eastcom.it

(eKapija, 19.03.2017)

http://www.ekapija.com/website/sr/page/1701891/Dr%C5%BEava-daje-420-miliona-dinara-za-direktne-investicije-Raspisan-javni-poziv-za-dodelu-podsticajnih-sredstava-Ministarstva-privrede

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