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SERBIA QUALITY WORKS

Jelena Akovic

Senior Legal Advisor

Serbia Investment and Export Promotion Agency

PRESENTATION RIGHTS RESERVED. COPYRIGHT SIEPA. YEAR 2010.



ABOUT SERBIA

� Official Name: Republic of

Serbia

� Area: 88,361 km2

� Population: 9.5 million

� Official Language: Serbian

� State Form: Democratic

Republic

� Capital: Belgrade (1.7

million)

� Currency: Serbian Dinar

(RSD)



EU ACCESSION PLANS

�The Stabilization and Association Agreement

(SAA) signed in April 2008;

�SAA ratified by EU parliament in January 2011

�EU candidate status received on March,1st

2012;

�Trade interim agreement with EU;

�Visa liberalization for Serbian citizens;



DEVELOPMENT OF ROAD INFRASTRUCTURE

� International – Corridor VII

� National – South Adriatic Highway,

Regional Motorways

� Aim to connect all the major centers of

Serbia



TRENDS AND PROJECTIONS OF SERBIAN ECONOMY

Projected by Serbia Ministry of Finance, National Bank of Serbia, World Economic Outlook Database and International

Monetary Fund

2005 2006 2007 2008 2009 2010 2011 2012

GDP growth rate (%) 5.4 3.6 5.4 3.8 -3.5 1 2 3

Unemployment rate (%) 21.8 21.6 18.8 14.4 16.9 20 24.4 tbd

FDI (€ million) 1,275 3,430 1,597 1,660 1,372 860 1,827 tbd

Inflation (%) 13.6 7.3 11.0 8.6 6.6 10.3 7.0 4.2

Export (€ million) 3,608 5,102 6,432 7,428 5,961 7,393 8,439 tbd

Import (€ million) 8,439 10,463 13,951 16,478 11,504 12,621 14,449 tbd



SERBIA ECONOMY TREND AND PLANS

Projected by Serbia Ministry of Finance, National Bank of Serbia, World Economic Outlook Database and International

Monetary Fund



MOST ATTRACTIVE TAX SYSTEM IN EUROPE

Salary Tax VAT

Corporate Profit Tax



SERBIA COST TABLE

Typical monthly salaries: Net: Total:

Minimal salary: 184 € 303 €

Average salary in automotive ind. 305 € 503 €

Average blue collar salary 250 € 412.5 €

Average white collar salary 550 € 907.5 €

Working week: 40h

Overtime: 8h/week 4h/day

No. of shifts: max 3

Utilities:

Electricity cost: 0.05 €/kWh

Gas cost: 0.42 €/m3

Water cost: 0.2 €/m3

Building:

Average rent cost: 4 €/sqm

Average building cost: 400 €/sqm



SERBIA FREE TRADE AGREEMENTS

European Union EFTA

CEFTA Turkey Belorussia

Russia Kazakhstan

USA –

preferential

trade



Large and mid-sized investment projects

Financial grants systemFinancial grants system

Eligible projectsLarge investment projects Mid-sized investment

projects

Amount of funding (€)Up to 17% of the

total investment

Up to 20% of the

total investment

Up to 10% of the total

investment

Minimum investment ammount€100 million or

greater

Between €50 and

€100 million €50 million

Minimum number of new, full-time

jobs created300 300 150

Investments of special importance:

•Minimum investment ammount €200 million

•Minimum number of new, full-time jobs created 1000



Eligible

investment

projectsManufacturing sector

Internationally-

marketable

services

Strategic

projects in the

field of tourism

Undeveloped

regionsStandard regions

Entire teritory of

the RS

Entire teritory of

the RS

Minimum

investment500 000 € 1 000 000 € 500 000 € 5 000 000 €

Minimum

number of jobs

created

50 50 10 50

Ammount of

funding

4 000-10 000 € 4 000-10 000€ 4 000-10 000€ 4 000-10 000€

Financial grants systemFinancial grants systemStandard-scale projects



FOREIGN INVESTMENTS IN SERBIA

Since 2001 Serbia attracted more then 1Since 2001 Serbia attracted more then 199 billion EUR of investmentsbillion EUR of investments

FDI BY COUNTRY IN EUR MILLIONS


Serbia Investment and Export Promotion Agency Italian investments in Serbia

Izvor: NBS



Società Settore Tipo d’investimento Valore

(mil. EUR)

FIAT Automobilistica Joint Venture 944

INTESA SAN PAOLO Bancaria Acquisizione 660

FONDIARIA SAI Assicurazione Privatizzazione 220

GOLDEN LADY Tessile e abbigliamento Greenfield 96

BENETTON Group Tessile e abbigliamento Brownfield 43,4

FANTONI Legno e arredamento Privatizzazione 31

GENERALI GROUP Assicurazione Acquisizione 30

SFIR Agroalimentare Acquisizione 25

FINDOMESTIC BANK Bancaria Acquisizione 24

CALZEDONIA Tessile e abbigliamento Greenfield 20

FULGAR Tessile Greenfield 20

Presenza Italiana in Serbia



Anno Esportazione dalla Serbia

Milioni €

Importazione nella Serbia

Milioni €

2005 525.1 732.8

2006 736.1 872.9

2007 799.5 1292.8

2008 763.3 1475.6

2009 586.1 1111.0

2010 843.9 1078.8

2011 936.6 1557.6

� Nel 2011, secondo i dati pubblicati da parte del Istituto per la Statistica della Serbia, l’Italia risulta il terzo

partner commerciale della Serbia, dopo la Federazione Russa e la Germania

� L’esportazione dalla Serbia all’ Italia: abbigliamento, acciaio, ferro, metallo colorato, calzature e articoli di

plastica.

� L’ esportazione dall’Italia verso la Serbia: veicoli, macchinari, tessuti, macchinari ad uso speciale,

abbigliamento, etc.

SERBIA - ITALIA

Rapporti commerciali

Fonte: Dati sul commercio estero Istituto Nazionale di Statistica



TRADITION OF AUTOMOTIVE INDUSTRY IN SERBIA

� Current no. of Companies: around 100

� Number of Employees: around 24,000

� Turnover 2010: 861.7 million EUR

� Largest Companies:

� Fiat Automobiles Serbia

� Michelin - Tigar Tyres

� Trayal

� CIMOS Livnica Kikinda AI

� DAD Dräxlmaier

� Yura Corporation d.o.o.

1939

1954

1965

1971

1988

2008

2012



AUTOMOTIVE FDI IN SERBIA 2004



About SIEPA

Investment

Promotion

Information

Provision

Location

Advisory

Project

Management

Project

Aftercare



DATABASE DI BROWNFIELD E GREENFIELD

LOCATIONSwww.serbia-locations.rs



SIEPA SUPPLIERS DATABASE

The largest database of Serbian industry – www.siepa.gov.rs



S E R B I A

SERBIA INVESTMENT AND EXPORT PROMOTION AGENCY

3, Vlajkoviceva St.

11000 Belgrade, Serbia

Phone: +381 11 33 98 55 0

Fax: +381 11 33 98 81 4

E-mail: [email protected]

www.siepa.gov.rs


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