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SIEPASerbian Investment and Export Promotion Agency
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Slobodan Markovic, Export Promotion Advisor, SIEPA, said: "Serbia is the official country partner of GITEX TECHNOLOGY WEEK, and SIEPA has helped drive record levels of foreign investment in the country.
"After two or three decades of promised reforms, people are still a bit sceptical over whether there will be significant change to the business environment," said Vladimir Tomic, Assistant Director for FDI at Siepa in a video interview with
Siepa explained that if a ( foreign company invests an amount exceeding E9m ([pounds sterling]7.6m, $12.2m) in fixed assets , and will employ at least 100 additional employees throughout a 10-year period, then the group is exempt from paying corporation tax for a decade.
One of the major issues, Siepa finds, is that the country still live in the shadows of the past political conflicts by gaining European Union membership, it will help put some tentative investors' minds at ease.
"Production of raspberries, blackberries, plums and sour cherries will be constantly increasing," said Igor Novakovic, export adviser to SIEPA. "Regarding quality, our fruit is one of the best quality products in Europe, perhaps even in the world.
"We have one of the most attractive tax systems in Europe as our corporation tax is only at 15% and further incentives are on offer if businesses decide to come to the country," said Drasko Nikolic, chief of cabinet at Siepa.
"We have many competitive advantages for manufacturing, R&D and exporting businesses in Serbia but the main hurdle is public perception," added Vladimir Tomic, assistant director for foreign direct investment (FDI) at Siepa.
The grants, for which companies applied under the Programme for encouragement of competitiveness and internationalisation of the Serbian economy of the Serbian Investment and Export Promotion Agency (SIEPA), were given to 340 domestic exporters, five exporters start-ups and eight associations.
SIEPA Director Bozidar Laganin explained that the grants are allocated in the form of reimbursements in the amount of 50% to 75% of the total costs, excluding VAT, for activities such as independent exhibitions at international fairs, design, the printing of promotional materials, protection of intellectual property and localisation of software products.
This glaring mismatch suggests these countries face perception problems among foreign investors and clearly indicates there's still a long way for SIEPA and the Serbian Government to educate business leaders about the opportunities in our country.
The company plans to employ some 600 workers.The contract of purchase was signed by Mayor of Sremska Mitrovica, Branislav Nedimovic, and Vice President of Operations, Europe Sealing at Cooper Standard, Robert Kuenning, in the presence of a large number of guests, representatives of SIEPA, Vojvodina Investment Promotion - VIP, U.S.
It feels good to win awards, and it feels even better to know that consumers eat our products fast and then keep the packaging for a long time" - says Lazar Igrutinovic, brand manager at Foodland reports SIEPA.