Tag: Investments

Belgrade – “Foreign investors and funds will be able to invest in domestic securities and the Serbian capital market in a fast and efficient manner,” the finance minister said.

The Minister of Finance of Serbia, explaining the Bill on Amendments to the Law on the Capital Market, said that it would enable the base and structure of potential investors to invest in domestic securities to be increased.
He explained that the proposed amendments bring the provisions of the Capital Market Act into line with the Law on Public Debt.

“Foreign investors and funds will be able to invest in domestic securities and the Serbian capital market in a fast and efficient manner,” the Serbian Finance Minister said.

These activities will be monitored by leading banks in Serbia, such as UniCredit, Intesa, Raiffeisen Bank and OTP Bank.

By increasing the availability and attractiveness of domestic securities to foreign investors, we reduce our financing costs and ensure better diversification of investors investing in domestic securities.

In this way, the capital market is improved and developed.

Last year, we had two very successful Eurobond issues at historically lowest interest rates. At the last issue of bonds in November, we issued EUR 550 million of bonds with a yield of 1.25 percent, and previously in June we issued a bond of EUR 1 billion, for a period of ten years, with a yield rate of 1.619 percent and six times the demand .

The issue of Eurobonds denominated in euro for a term of 20 years will be issued tomorrow, which is the first time since the bonds issued so far have been denominated in euro for a maximum of 15 years, but mostly less.

Serbian bonds were included in the list for potential inclusion in JP Morgan’s index of sovereign bonds of developing countries.

Also, on the agenda of the Assembly is the Bill on Ratification of the Loan Agreement between the Republic of Serbia and the International Bank for Reconstruction and Development, which aims to increase productivity and strengthen the market links of small and medium-sized agricultural food producers.

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During the intergovernmental conference in Brussels, the European Union agreed on Tuesday ,10 December 2019 , to open Chapter four on the free flow of capital in the accession negotiations with Serbia.

The EU Enlargement Commissioner, said the new chapter brought Serbia closer to the bloc.

On the understanding that Serbia has to continue to make progress in the alignment with and implementation of the acquis covered by this chapter, the EU noted that there are benchmarks that need to be met for its provisional closure.

As regards the benchmarks, the opened chapter may only be provisionally closed once it is agreed by the EU that the following benchmarks have been met:

• With respect to capital movements and payments, Serbia completes its legislative alignment with the acquis and demonstrates it will be able to fully implement it by accession, ensuring that all remaining restrictions are removed;

• On payment systems, Serbia demonstrates it will be able to fully implement Directive (EU) 2015/2366 by accession, including the relevant “level two” acts mentioned in section 2, and that it will be able to effectively apply Regulation (EC) No 924/2009 and Regulation (EU) No 260/2012;

• In the area of anti-money laundering and counter-financing of terrorism, Serbia completes the necessary legislative alignment with the acquis, international standards (as defined by the Financial Action Task Force) and demonstrates, through a track record, an improved administrative capacity to properly implement and enforce the relevant legislation in all areas of anti-money laundering, including recommendations made by the Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism of the Council of Europe, MONEYVAL, resulting in an increasing effectiveness of monitoring, supervision, financial intelligence, investigation, prosecution and conviction.

According to official statistics of the Ministry of Construction, Transport and Infrastructure, the value of construction put in place in Serbia increased by 39.9 percent in the third quarter of this year compared to the same period last year.

It was pointed out that this is the highest growth rate of construction in one quarter since 2010.

The upward trend in construction, as the sector that contributed most to the growth of gross domestic product (GDP) in 2018, continued throughout 2019, and in the first three quarters the average growth rate of 25.8 percent of executed works was achieved!

The ministry expects the result achieved to increase construction’s share of Serbia’s GDP at the end of the year.

If you want to see for yourself the statistics compiled by the Ministry of Construction, visit the Welcome to Serbia Association and use the unique solution – Residency permit by investment.

This is just another indication that Serbia is constantly evolving. Serbia offers very affordable prices for residential and non-residential buildings. Because of its beauty, Belgrade is a favorable capital for both business and family.

The President of Belarus was greeted traditionally with couple of days ago!

It is a great pleasure that the current visit of President of Belarus to Serbia is taking place on the anniversary, 25 years since the establishment of diplomatic relations between Serbia and Belarus.

President of Belarus has registered in the book of visits of honorary guests.

The interlocutors agreed that there was a high level of political, economic and international cooperation, as well as in the field of parliamentary, military and military-technical cooperation.

According to the latest available data, Serbia exported $ 41.4 million worth of goods and services to Belarus in the first nine months of this year, an increase of 12.8 percent over the same period last year.

In 2018, Serbia-Belarus foreign trade reached $ 143.2 million, with exports amounting to $ 51.7 million, up 22.5 percent from 2017 when it reached $ 42.2 million.

By value of exports Belarus is the 34th partner of Serbia, while it is 37th in terms of value of imports.

The visit of the President of Belarus gave additional impetus for further strengthening and development in the spirit of sincere friendship between the two countries.

The agreement on scientific and technological cooperation between the Ministry of Education, Science and Technological Development of Serbia and the National Academy of Sciences of the Republic of Belarus was signed by the ministers of Serbia and Belarus.

Serbia and Belarus have agreed to develop and strengthen technological cooperation by sharing information on science and technology, joint projects and the like.

The signed co-operation program, between the governments of Serbia and Belarus in the field of education – up to 2020 foresees an annual exchange of students of elementary, master and doctoral studies.

Also, two agreements have been signed between the Postal Bank and Belarus Bank on opening correspondent accounts.

The two sides will continue to work together!

British Financial Times ranks Serbia as number one in attracting direct foreign investments.

In the first month of this year, we have over 40% more foreign investments than in the same period last year.

The Law on Personal Income Tax will define many incentives for employment.

If you’ve recently graduated from a faculty or a school and you are looking for a job or starting a business, there are no taxes or contributions to your salary, which is the state’s way of inciting you to start working.

 

For companies, if an employee is coming from abroad, the contributions are 30% instead of 100%.

The budget was made so that a part goes to raising salaries and pensions, whereas another part is to be put into capital investments, amounting to RSD 260 billion.

This will be the great opportunity to think about WTS programs such as:

1. Residence permit by company formation
2. Residence permit by investment
3. Study in Serbia

Serbia as a country in development is very open to all investors and business on an international level, so after moving money to Serbia, it is very common for clients to seek opportunities for business development in this part of the world.

Chinese President promised to visit Serbia in 2020.

I promise to find the time to visit Serbia next year in 2020, said Chinese President Xi Jinping.

The main topics of talks between the Chinese president and the Serbian prime minister are bilateral, economic and political relations, as well as cooperation between Serbia and China within the Belt and Road Initiative.

Relations between Serbia and China have never been better and they are characterized by steel friendship and strategic partnership.

The Prime Minister thanked the Chinese President for his principled support of the territorial integrity of Serbia and said that Serbia supports China’s policy.
The last meeting of Serbian officials with the President of China was in late April in Beijing.

Prime minister said that Serbia is especially proud of having the largest number of projects under the Belt and Road Initiative and that the citizens of our country already feel the benefits of this initiative in their dailly lives!

Serbia and Eurasian Economic Union (EAEU) signed a free trade agreement in Moscow.

“This means a lot for Serbia, development, competitiveness and living standards of the citizens”

Russia’s Prime Minister Dmitry Medvedev said at today’s session that he expects Serbia to have increased trade exchanges with the Eurasian Union, as some products will be exempt from customs.

The agreement extends the list of products that can be imported to EAEU territory without customs, increases quotas for export of goods that apply to restrictions and a wider free trade zone and on Armenia and Kyrgyzstan.

Serbia’s total commodity exchange with EAEU members during 2018.

The EAEU free trade agreements has so far signed with Vietnam, Iran and Singapore, while India, Egypt and Israel still negotiate similar agreements.

Belgrade – Six new Turkish investor factories launched in Serbia since Turkish President Recep Tayyip Erdogan’s last visit to Serbia.

He recalls that more than 65 agreements have been signed with Turkey so far, and that a dozen more will be signed during the two-day visit by the Turkish president, which begun yesterday.

“We have a Free Trade Agreement, we have good political relations, now the ball is in the backyard of businessmen to take advantage of these opportunities. Serbia, from the countries of the former Yugoslavia, exports the most to Turkey. We have increased exports eight times,” the minister said.

He reminds that there are currently 515 economic entities in Serbia whose majority owners are Turkish nationals, about 320 of them are smaller or larger trade companies, but there are also manufacturing companies in places such as Krupanj, Vladicin Han, Zitoradja …

He also said that there are more and more Turkish tourists coming to Serbia, last year there were 97,000. Last year, Turkish tourists ranked second in arrivals, and this year they are among the top four states.