Serbia can become a high-growth economy by accelerating domestic investments. Our companies have both the capital and the expertise, but we need to speed up procedures so investments do not face delays, said Marko Čadež during a panel discussion with domestic investors at the Kopaonik Business Forum.
He viewed the panel with domestic investors as a continuation of the dialogue initiated by the Serbian President and government representatives with companies at the Serbian Chamber of Commerce. Čadež also highlighted the creation of the Center for Economic Initiatives and Fast Solutions.
“There are many things we can do together with the government, and we are encouraged by President Vučić’s initiative to create a joint center where we can monitor large projects, much like a traffic light system. We will know the costs—how much development costs, how much it costs when a factory stands idle for three years due to administration delays. It’s not just about the cost in terms of jobs, but the real economic output. How much does it cost when we create a free trade agreement but fail to align veterinary certificates for milk and meat?” Čadež said.
Aside from administrative issues, Čadež believes that new markets, especially in the region, and technology are key to Serbia’s success. “We are good in engineering and coming up with technical solutions, but we are not the best at turning that into a product. We can export software, but that’s about the maximum we can achieve,” stated the President of the Serbian Chamber of Commerce.
Nebojša Šaponjić, co-founder of the Nelt Group, argued that domestic investors have invested more in Serbia over the past 2.5 decades than foreign ones. Andrej Sovrović, a member of the executive board of Delta Holding, emphasized that domestic investors are extremely valuable because they reinvest capital, are more resilient to crises than foreign investors, are cheaper for the state, and are more adaptable to changes. Šaponjić thanked the Serbian Chamber of Commerce and President Čadež for their support in business operations, particularly in export activities.
The European Bank for Reconstruction and Development (EBRD) has invested more than 800 million euros in Serbia over the past two years, said the regional director for the Western Balkans, Mateo Kolanđeli. Speaking about the potential for high returns, Kolanđeli highlighted three areas: infrastructure, energy, and support for small and medium-sized enterprises.
Mihailo Janković, CEO of MK Group, pointed out that the greatest potential for GDP growth lies in exports. “The share of exports in our GDP is 51%. Of the 80 billion GDP, 42 billion is from exports. In Slovenia, for example, the GDP is 59 billion, with 53 billion coming from exports. That means 90% of Slovenia’s GDP is from exports. Imagine if we had 90% exports,” Janković said.
