Free zones in Serbia, which generated a turnover of nearly EUR 5 billion last year, can count on full support from the government to help them attract as many foreign investors as possible, a regional conference on free zones, held at the Serbian Chamber of Commerce and Industry (PKS), was told on Thursday.
“The turnover in the free customs zones rose by 97 percent in 2013 compared to the year before, which is incredible growth. Also, the free zones include 226 companies – 30 percent more than in 2012. But the free customs zones should not be assessed based on their number alone, but also by the growth of productivity and salaries,” said Serbian Minister of Finance Dusan Vujovic, whose ministry has the authority over the operation of free zones.
He said that he expects the conference to produce a list of proposals on how the government can help the free zones become even more successful.
“We just want things to be done the right way. We have a strong department that deals with these matters, and we are working towards making our activity better and stronger…, and finding solutions that will be sufficiently stimulating for investors, but we must also comply with Serbian regulations,” Vujovic said.
Minister of Economy Zeljko Sertic said that the Serbian economy must boost its competitiveness and develop the competitive spirit, and added that all proposals will be considered because, he said, this is a common interest and a common path.
“We want to help our companies become better. Never before have I heard top state officials say that the economy is the focus. Therefore, make all the proposals that you think can be helpful to you, and we will do everything that is possible,” Sertic said. Serbia has 12 free zones, where investors enjoy benefits that include exemption from customs and import duties on goods they need for their operations or VAT on energy consumed.
Juan Torrents, president of the World Federation of Free Zones (FEMOZA), said that the tax relief offered in the zones is what is the most attractive, but added that the framework for attracting investments should not be overlooked either.
In addition to tax relief, administration and infrastructure must be provided, too, Torrents said, adding that free zones exist in 126 counties around the world.
Source in Serbia
