More Nordic investors in Serbia in 2018? – Great potential of digital products and services

Sekuritas, Telenor, Tikkurila, Volvo, Novonordisk, Radisson, Sekopak, Astra Zeneca and IKEA are just some of the members of the Nordic Business Alliance, founded in 2009, that operate in Serbia. Initially, the alliance had only eight or nine members, and there are as many as 50 today.

Nordic countries are renowned for the implementation of sophisticated technologies and innovations in their operation. Environmental awareness, gender equality, innovations, socially responsible operations and corporate culture are the values they stand for.

– We even have several members from outside the Nordic region, such as Nordeus, but which share our values and see these countries as an example our society should follow. Our aim is to transfer positive experiences and practices from the Nordic region to Serbia and provide support as a “one stop shop” of sorts, for all potential Nordic investors. We are actively working on improving the business environment, connecting Nordic companies with Serbian partners and trying to attract new investments from the Nordic region – Jasmina Vignjevic, president of the Managing Board of the Nordic Business Alliance, begins her interview with eKapija.

Our interviewee sees a bigger perspective for economic cooperation and investments in the ICT sector.

– There's also the energy sector, with Nordic companies primarily being oriented towards renewable energy sources, such as solar and wind power. Our resources for agriculture are underutilized and we believe that this is another field which could be interesting to potential investors – Vignjevic says.

eKapija's interviewee says that they will intensify activities related to bringing Nordic investors to Serbia in 2018.

– Our plan is to organize a meeting between Serbian companies and potential Nordic investors. We will intensify activities within the working body for improving the legality of transparency of public procurement procedures, as well as all activities related to improving the business climate in the domain of digitization, socially responsible operations, innovations and education – Vignjevic adds.

Some of the main Nordic values, such as transparency, trust and corporate responsibility, are reflected in the relation between the employer and the employees as well, she explains.

– Our companies are recognizable for their high ethical standards and a developed corporate culture, within which the needs of employees are paid attention to. A lot is invested in their education and personal and professional development.

According to the latest available information of the Statistical Office of the Republic of Serbia, the total foreign trade with Nordic countries in 2016 amounted to around EUR 560 million.

– The volume of the trade is increasing and we hope that the growth will be even more dynamic in the upcoming period. Still, considering the physical distance, we believe that digital products and services we can offer each other have a big potential to increase the volume of the trade. Seeing how Nordic countries are known for their innovative business models, I believe that this is the field with the biggest potential for sharing knowledge and experiences – our interviewee says.

(Jasmina Vignjevic) One of the goals of the Nordic Business Alliance are more transparent public procurement procedures in Serbia.

– When it comes to public procurement procedures, Serbia has the legal framework, but is not enforced consistently. For this reason, we have formed a body with Nordic embassies for the purpose of promoting transparent business and the rule of law. The problem of public procurement procedures has two aspects: in certain cases, public procurement procedures are not carried out, whereas, in other situations, state companies are favored. This is the problem that a certain number of our members face and this is something that Nordic companies find difficult to understand – Vignjevic explains.

The website of the Nordic Business Alliance provides all the information about how a company can become its member, as well as the statute and the statement of joining.

As our interviewee explains, the members have an opportunity to find business partners in Serbia, to connect with each other and share knowledge and experience.

– In cooperation with the embassies of Norway, Finland, Denmark and Sweden, we carry out various activities aiming to enhance the conditions of doing business in Serbia. Once a year, we organize a meeting with the prime minister and other ministers, where our members have the opportunity to point to the problems they face in their operations and propose concrete solutions in direct talks. After the annual meeting with the prime minister, we organize operating meetings, which most often produce concrete results – Vignjevic concludes.

Sanja Sojic

Nordijska Poslovna alijansa u Srbiji NPA

Ambasada Kraljevine Norveške u Beogradu

Ambasada Finske u Beogradu

Ambasada Kraljevine Danske Beograd

Ambasada Kraljevine Švedske Beograd

IKEA Srbija d.o.o. Beograd

Securitas services d.o.o. Beograd

Yettel d.o.o. Beograd

Gudmark Group d.o.o. Šabac

VOLVO GROUP Göteborg

Novo Nordisk Pharma d.o.o. Beograd

Volvo d.o.o. Novi Banovci

Radisson Collection Hotel, Old Mill Belgrade

Sekopak d.o.o. Beograd

Predstavništvo Astra Zeneca UK Limited Beograd

Nordeus d.o.o. Beograd

Republički zavod za statistiku

Nordic Business Alliance

Sekuritas

Novonordisk

Jasmina Vignjevic

Nordic investments

Nordic investors

Nordic companies in Serbia

Nordic companies

Nordic investors in Serbia

public procurement procedures

transparent public procurement procedures

foreign trade with Nordic countries