ANALYSIS
Currently, the Serbian GovThe responsiveness
ernment is about to start
and commitment
negotiations on a strategic
we receive from
partnership with U.S. comthe Government is
pany Esmark Eurogroup,
a great sign that
which bid on the Zelezara
we are looking in
Smederevo steel company.
the same direction,
This is a very important
milestone for the recovery
and that necessary
of the Smederevo region,
reforms will be
having in mind the number
carried out.
of families that rely on this
company for the income. If realized successfully, this
will certainly be one of 2015’s biggest investments.
EM: n your opinion, what is the Serbian
I
Government doing right on FDI promotion?
What more could it do?
Piscevic: I would positively assess their focus on the
improvement of the business environment. AmCham
is working hard in transferring the messages from
business toward providing constructive recommendations that will lead to a more business-friendly
environment. For example, we conduct an annual
survey called “Engage for Change” which provides
valuable insights from our member companies and
their stances on Serbian business conditions.
We are well aware that much more needs to be done,
for example, to increase the predictability of fiscal
and para–fiscal burdens, reducing the grey economy,
enforcing regulations and - more importantly implementing them and reduction of red tape. The
responsiveness and commitment we receive from
the Government is a great sign that we are looking in
the same direction, and that necessary reforms will
be carried out.
EM: hat are foreign investors saying about
W
their investment experience in Serbia? Is
there a trend toward expansion of existing
investments?
Piscevic: Investors are generally content with their
investment experience and Serbia did not have any
major withdrawals of FDIs, except for U.S. Steel, which
was a result of global market trends. Investors generally
praise local human capital and our talent pool, especially in the high tech and IT sectors, while they have
concerns about the efficiency of the State administration and in its responsiveness to private sector needs
in areas I mentioned before:
red tape, curbing the grey
The leading
economy. Another common
investment
investor concern is the short
sector in Serbia is
run risk of increases in the
financial in terms of
fiscal and quasi fiscal burinvestment volume
den given government fiscal consolidation measures,
and the automotive
as well the country’s declinsector leads in
ing purchasing power.
terms of number of
projects started.
Continued on page 29
UPCOMING EVENT
NEW SEE - SOUTHEAST EUROPE
INVESTMENT FORUM
Hyatt Regency Belgrade, 26-27 March, 2015
10 AmChams from across SE Europe will be gathering the region’s top dec