Nineteen agreements on subsidies for investors signed by mid-December – Even more intensive stimulation for investors in 2018

Minister of Economy of Serbia Goran Knezevic stated on December 26 that 19 agreements on the allocation of incentives to investors had been signed before mid-December 2017 and that the total investment value of the contracts amounted to EUR 155.5 million. At the annual meeting with the press, he said that the realization of those contracts was meant to lead to the employment of 7,500 people and added that state incentives amounted to EUR 45.8 million.

– Further stimulation of new investments will lead to an increase in the number of jobs, a growth of production activities and the GDP and an increase in public revenues – he said.

According to him, as Beta reports, 27 investors have decided to re-invest.

– Our goal in 2018 will be to stimulate investments even more intensively and to intensify the promotional activities in the country and abroad – he said.

Knezevic pointed out that the reforms carried out were providing results and that the unemployment rate had dropped to 12.9% and added that the inflow of foreign direct investments exceeded EUR 2 billion.

He also reminded that Serbia had jumped by 48 spots on the World Bank’s Doing Business list in three years and that it was praised by the financial institution for the reforms that had made it more attractive to investors

Developmental budget for ministry in 2018

The budget of the Ministry of Economy for 2018 is developmental and amounts to RSD 20.2 billion, of which nearly 90% is meant for support to the economy, Knezevic emphasized, as Tanjug reported.

The presentation of the Ministry’s results says that 89.1% of the funds is intended for the economy, amounting to RSD 17.98 billion, and the support continues to be trifold – towards big investments, development of entrepreneurship and enhancement of business infrastructure.

Knezevic reminded that, in 2017, the first year of the Decade of Entrepreneurship project, RSD 18.2 billion had been set aside for small and medium companies, of which RSD 7.6 billion as grants.

The state will continue providing financial sources and instruments to small and medium companies through funds and institutions of the EU. As said, affordable loans in the amount of EUR 620 million are available – 335 million as long-term loans through the EIB-APEX credit line and 285 million through the COSME program in cooperation with commercial banks and based on Serbia’s participation in this EU program through the Ministry of Economy.

Ministarstvo privrede Republike Srbije

stimulating investments

subsidies for investors

Goran Knezevic

foreign direct investments

subsidies for employment

Doing Business list

Decade of Entrepreneurship

small and medium companies

financing small and medium companies

support to entrepreneurship