The reforms implemented so far in Serbia have opened the door to investors mainly from European countries, but also from other parts of the world.
According to the Business Register Agency, there are 18,000 foreign-owned companies operating in Serbia, employing about 350,000 workers. In the last ten years, they have directly invested 24.5 billion euro in the country.
According to regular surveys conducted by the US Chamber of Commerce among its members for the past eight years, foreign companies in Serbia are satisfied with the country’s macroeconomic stability, reduced budget deficit, lean administration, especially in the area of issuing building permits, and e-government reform.
Their objections are mainly aimed at the low efficiency of the judiciary, the rule of law, the fight against corruption and the transparency of fiscal policy.
Because of the pandemic, companies are registering lower profits, reduced ambitions in terms of business expansion, new investments or employment, and certainly their annual turnover will be worse than last year.
Discover the most important foreign investments in Serbia in 2019: click here!
When asked whether there are any indications that some companies are thinking of leaving the Serbian market, the president of the German-Serbian Chamber of Commerce, Udo Eichlinger, says that there is no such information at the moment.
“On the contrary, we have more companies knocking on the doors of the Serbian market and surveying business opportunities in Serbia,” adds Mr Eichlinger.
The Serbian National Bank estimates that foreign direct investments will reach 2.3 billion euro this year, and that due to the pandemic, the amount will be lower than last year when it stood to 3.8 billion euro.
This post is also available in: Italiano