Sabac Considered One of Region's Top Investement Destinations

Sabac is the winner of the Business Friendly Certificate, placing this local self-government among Southeast Europe's best investment destinations. Sabac received the award for the promotion of its local administration at the Fourth Regional BFC SEE Congress in Podgorica, organised by Montenegro's Finance Ministry and NALED and backed by the GIZ Open Regional Fund for Modernisation of Municipal Services.

In addition to Sabac, the certificates were awarded to 14 other local self-government units, namely four in the Federation of Bosnia-Herzegovina, four in the Republika Srpska, four in Macedonia and two in Croatia, including Skopje, Bijeljina, Prijedor, Gorazde, Jastrebarsko etc. Under the BFC SEE standard, a total of 26 local self-government units, offering quality services and a favourable business environment for about 2 million people and 105,000 companies, have been certified so far. In Serbia, Leskovac, Pancevo, Pirot, Ruma and Stara Pazova have already been awarded this quality certificate.

The Fourth Regional Congress, which rallied numerous ministers, top town and municipal officials and business leaders, marked Montenegro's official joining the Business Friendly Certification Programme in Southeast Europe (BFC SEE). Five selected Montenegrin municipalities will be first included in the certification process, getting a chance to promote their business climate in keeping with the EU and the region's best practice.

"We are really pleased that Montenegro has joined the BFC SEE programme because we are continuing to spread the network of local self-government units in which investors will find reliable partners. Investors make their investment decisions by perceiving the region as a single market so that by strengthening the BFC SEE we make all countries in the region more attractive on a global investment map," Christiophe di Marco, manager of the GIZ Open Regional Fund for Modernisation of Municipal Services, via which the German and Swiss governments back the BFC SEE, said.

At this point, more than 60 local self-government units in the region promote the business environment under the BFC programme. A secret shopper survey has revealed that business conditions in the certified municipalities are better by 76 percent than in other municipalities.

It does not therefore come as a surprise that as many as 90 percent of the certified municipalities beleive that being the holder of the BFC SEE certificate is useful or extremely useful. In the 2012-2015 period, the BFC SEE certified municipalies attracted nearly EUR 1 billion of foreign direct investments, a three times higher sum than that achieved by their competitors not holding the certificate.

The BFC SEE regional network comprises 20 institutions and organisations in Serbia, Croatia, Bosnia-Herzegovina, Macedonia and Montenegro, helping strengthen regional cooperation and exchange and including the relevant ministries, chambers of commerce, municipality associations, development agencies, CSOs and universities.