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The Government of Serbia adopts action plan to reform state-owned companies

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Serbia’s government has approved the Action Plan for the Implementation of the Strategy of State Ownership and Management of Business Entities Owned by the Republic of Serbia. The plan outlines key objectives, including establishing efficient and sustainable management in all state-owned companies by the end of 2025 and corporatizing public companies by the last quarter of next year.

The strategy aims to centralize responsibility and competence of the state in terms of ownership, as well as enhance corporate governance in state-owned entities. One of the main measures outlined is the corporatization of public companies, converting them into joint-stock companies (AD) or limited liability companies (DOO).

Currently, there are 20 public companies in Serbia that have not undergone corporatization, with the goal of reducing this number to zero by the end of 2025. The Ministry of Economy will play a central role in implementing the measures, with support from other government bodies and institutions.

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The action plan also includes measures such as unifying the legal framework for ownership and management, establishing centralized responsibility and institutional competence, and defining business objectives for each state-owned entity.

Budget funds of approximately 32 million dinars are allocated for the implementation of the plan in 2024, with an estimated 55.6 million dinars required for 2025. The International Monetary Fund is closely monitoring these reforms, reflecting Serbia’s commitment to enhancing the benefits of state ownership for the country and its citizens.

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