Foreign Investors Council presents White Book 2012

The Foreign Investors Council (FIC) presented the White Book 2012 to Prime Minister Ivica Dacic and the highest officials of the Serbian government. This year's edition, published in the year in which FIC celebrates its 10th anniversary, represents a basis for resuming the dialogue between foreign investors and the Serbian government on the ways to improve business climate in Serbia.

FIC President Costin Borc opened the event saying that: “Although the business environment in Serbia has become very challenging, it still has potential for development and therefore, dynamic and open dialogue between investors and government needs to continue“. Borc reminded that the world was still undergoing a major economic crisis, stating that the expectations of foreign investors remained the same – we call for transparent and predictable regulatory framework and functioning of market mechanisms, which will enable sustainable economic development.

Talking about the 10th anniversary of the Association, Borc noted that “FIC succeeded in its goal to help make the business environment more friendly. It is today one of the most important business associations, with around 130 members, almost EUR 17 billion invested in Serbia, and a strong organization, thanks to commitment of its members to support reforms."

Looking ahead, FIC President emphasized the need to ensure macro-economic stability, set clear economic policy and role of the state in economic arena, continue reforms and introduce level playing field.

- We express hope that the new government will deal with all challenges and move Serbia closer to EU accession - he concluded.

According to the latest White Book edition 2012, most progress has been achieved in the areas of e-commerce and intellectual property, followed by improvements in overall legal framework and fields of tobacco and telecommunications. Also, most recent cancellation of 130 para-fiscal charges is the step in the right direction.

Prime Minister Ivica Dacic gave a keynote speech, while Editor Mihailo Crnobrnja presented 10-year evolution of the White Book. Subsequently, the highest Government officials and the FIC Board members gathered in a panel to discuss how to improve business environment in Serbia. Opinions were exchanged between the Governor of the National Bank of Serbia Jorgovanka Tabakovic, Minister of Finance and Economy Mladjan Dinkic and Minister of Energy, Development and Environmental Protection Zorana Mihajlovic. Views of FIC were presented by: FIC President and CEO of Lafarge Serbia Costin Borc, FIC Vice President and CEO of Carlsberg South East Europe Gabor Bekefi and FIC Vice President and President of the BoD of Societe Generale Bank Serbia Goran Pitic.

From a group of 14 major foreign investors that founded the association with the support of the OECD in 2002, the FIC has grown to become an independent organization, which today includes around 130 member companies coming from around the globe and covering a wide range of sectors and industries. From an organization that accounted for EUR 150 million in investments, 3,160 employees, and 1.24% of GDP in 2003, the FIC today gathers companies which have invested almost EUR 17 billion, employ more than 88,000 and directly account for 16.54% of Serbia’s GDP.