Foreign companies see great potential in Serbia and its medium-sized companies

Published on 28. April 2023., News

Representatives of Serbian small and medium-sized companies spoke with the largest companies from Germany, Italy, Switzerland, Poland and Sweden at the „Interkonekt“ conference in Belgrade.

Among them are „Rosh Diagnostika“, „Male“, „Thiessen“ and others with an annual turnover of over 30 billion euros. Due to the proximity of the EU and stable business conditions, foreign companies in the Western Balkans see great potential. The challenge that stands in front of Serbian companies is fulfilling the legal obligation to apply the highest standards in environmental protection and occupational safety.

Domestic production of plastic, rubber and metal products is clearly a sector to be reckoned with in the future.

“We are very close to concluding our first contract. I am not able to provide more details, but one part is related to stamping and the other to plant technology,” says Ferdinand Wieland from Thyssenkrupp Automotive.

Foreign companies in the Western Balkans see great potential, primarily because of the proximity to the European Union, and also because of stable business conditions.

“We don’t always need a supplier with millions of dollars in production. Sometimes we look for medium-sized companies with good quality products and not the lowest, but correct price,” emphasizes Hendrik Hansen from “Roshe Diagnostika.”

The conference brought together more than 100 small and medium-sized companies from this sector, and their representatives say that they are ready to meet even the most complex requirements of foreign partners.

Nevena Jovanović from Valjevo’s “MPK Trade” states that last year, that company entered into the implementation of some projects with several foreign companies. “We sincerely hope that it will be this year as well.”

Entering international supply chains

The event was organized by Kovestenix and the Serbian Chamber of Commerce with the support of the American Development Agency. For the “Big Small Economy” project, funded by US-Aid, 18 million dollars have been secured over the next five years.

“Machinery and equipment is somehow opening up only now. In the last couple of years we have seen incredible changes, a lot of Serbian companies are appearing, they are very active on the market and this is the sector that will be the leader for our growth in the next decade”, Aleksandar Pavlović from Ju- Es-Aida.

PKS President Marko Čadež points out that the most important thing is for our companies to be able to enter international supply chains.

“Everything will be harder and harder. The rules that are being adopted within the EU and even within Germany. The law on suppliers puts new challenges in front of companies,” emphasizes Čadež.

It is primarily about the legal obligation to apply the highest standards in environmental protection and safety at work, and the Center for Responsible Business has been opened in the Chamber of Commerce, where all interested companies will be provided with assistance in adapting.

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