IFC supports project aimed at improving business environment in Serbia

Serbian PM Ana Brnabic and International Finance Corporation (IFC) Vice-President Georgina Baker signed an agreement on cooperation between the Serbian government and the IFC in supporting the implementation of a project aimed at improving the business environment in Serbia on Tuesday.

As stated on the website of the Government of Serbia, the signing of the agreement was attended by IFC Regional Manager for the Western Balkans Thomas Lubeck and British Ambassador to Serbia Denis Keefe.

The project is supported by Great Britain and will last until January 1, 2021.

The aim of the agreement is to reduce the administrative procedures that business entities face through the analysis of 1,750 administrative procedures related to doing business and providing suggestions for their simplification, optimization or abolition.

One of the goals is to enable 100 procedures to be carried out electronically.

The project is expected to realize savings of at least USD 8 million in the business sector and improve the competition by removing at least two anti-competition practices in selected fields.

Brnabic pointed out that electronic government was crucial to resolving the three biggest issues the public administration faces, the problems of efficiency, transparency and corruption.

She emphasized that digitalization would also lead to a considerable reduction of administrative burdens, thereby improving the development of the private sector and entrepreneurship.

Representatives of the IFC praised the government’s efforts towards creating a better business environment, which will enable an increase in investments, direct foreign investments, strengthening of competitiveness, employment and the standard of living.

Vlada Republike Srbije

IFC

Ambasada Velike Britanije Beograd

Ana Brnabic

International Finance Corporation

Georgina Baker

agreement on cooperation between the Government of Serbia and the International Finance Corporation

project aimed at improving the business environment in Serbia

Thomas Lubeck

Denis Keefe