The World Bank has declared Serbia “a leader in Southeast Europe in terms of implemented reforms with the goal of attracting more foreign investors”.
The World Bank has praised nearly all implemented reforms in Serbia, especially the adoption of the new Investment Law – the Serbian Ministry of Economy says in its press release.
The news that Serbia was declared the leader in investment-related reforms came from the Investment Competitiveness Forum in Vienna, which is organized by the World Bank. At the forum, it was also said that Serbia was the most innovative country in attracting investments in this part of Europe.
“Serbia has progressed in many segments of competitiveness, and analysis of competitiveness index has show that, out of the 12 pillars of competitiveness, we have made the biggest progress in 8 of them”, the State Secretary in the Ministry of Economy, Milun Trivunac said.
He added that, in the following period, the Ministry would focus on boosting competitiveness by applying the following six key measures – attracting FDIs in order to increase economic growth, increasing export, facilitating a faster growth of start-up companies and bigger contribution of fast-growing SMEs, regional specialization of processing industry, resolving the problems of companies that are losing a lot of money, and creating a new industrial policy.
Trivunac also said that the Ministry of Economy, in collaboration with the World Bank, has been working on creating a new industrial policy until the year 2030 that would define measures and tools focused on technologically catching up to the EU, development of innovation, implementation of the 4.0 industry concept, and smart specialization of the Serbian processing industry as the driving force behind the country’s economic development.
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