The Council of Foreign Investors in Serbia (Council/FIC) held a regular annual session of the Assembly, where the annual and financial report for 2023 was adopted.
Mike Michel, president of the Council and CEO of Yettel, pointed out that the Council in 2023 was more active and visible than in previous years, and that many new topics important for the business and investment climate in this country of the region were opened.
The recommendations of the Council of Foreign Investors, contained in the White Paper 2023, refer to the biggest challenges for investments:
the EU integration process of Serbia
containment of inflation with rising interest rates
increase in tax burden and sustainability of public debt
In this sense, the intensification of negotiations with the EU on Serbia’s membership status remains a key priority, in order to harmonize domestic regulations with European standards and reduce geopolitical risk for investments and foreign trade.
Also, as stated in the announcement, it is necessary to return inflation to the target corridor, optimize the fiscal burden in order to encourage investments and economic growth, and reduce public expenditures and complete the restructuring of infrastructure companies, especially in the field of energy, for the sake of sustainability of an adequate level of fiscal deficit and public long.
The Council continued an intensive dialogue with all relevant actors in Serbia, including the Government, the European Union, international financial organizations, the diplomatic corps, business associations and other similar bodies.
The Council launched regulatory initiatives in important areas such as housing and building maintenance, e-invoicing, consumer protection, tourism development strategy, private security.
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