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Serbia “regional leader in investment-oriented reforms”

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The World Bank (WB) has named Serbia Southeast Europe’s leader in reforms aimed at attracting foreign investors.

The recognition was received by State Secretary at the Ministry of Economy Milun Trivunac, on behalf of the government.

The World Bank praised the reform moves of Serbia, especially highlighting the adoption of the Law on Investments.

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As stated at the Investment Competitiveness Forum in Vienna, organized by the World Bank Group, Serbia has been designated as the most innovative country in this part of Europe in attracting foreign investment.

Trivunac, who participates in the forum together with Acting Director of the Development Agency of the Republic of Serbia Rados Gazdic, said that Serbia has made progress in many competitive areas, and according to the analysis of the competitiveness index of 12 pillars, it has made the biggest progress in the eight most important areas.

According to him, in the coming period, the Ministry of Economy will focus on measures to increase competitiveness, which will also contribute to the growth of economic growth rates.

He outlined six key measures – attracting strategic investments, increasing exports, faster growth of start-up companies and greater contribution of fast-growing SMEs, regional specialization in the processing industry, solving the problem of big debtors and creating a new industrial policy.

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The Ministry of Economy in cooperation with the World Bank is working on the adoption of a new industrial policy by 2030, within which measures and mechanisms focusing on the development of innovations will be defined, the application of the concept Industry 4.0 and the smart specialization of the processing industry of Serbia, Trivunac said.

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