Minister invites Italians to invest in Serbia

BELGRADE Minister of Finance of Economy Mladjan Dinkic on Monday invited Italian companies to invest in Serbia as they can count on incentives and numerous benefits. In the talk he gave to an Italian business delegation, Dinkic pointed out Serbia offers a favorable tax system, a qualified workforce and financial incentives for investments. Minister invites Italians to invest in Serbia Around 500 Italian companies with some 20,000 employees are currently active in Serbia and they had a EUR 2.5 billion turnaround in 2012, said the finance minister. Thanks to Fiat's investments, the turnaround of Italian companies will reach EUR 4 billion this year, said Dinkic, recalling that the biggest investments were made in the automobile, textile, food and furniture industries, and the finance sector. He added that trade with Italy totaled EUR 2.4 billion last year, and that Italy was Serbia's second biggest export and third import partner. In the first two months of this year, Serbia has doubled its export to Italy and for the first time in history recorded a surplus with this country, said Dinkic. The Serbian minister says he expects the trend to continue throughout the year and thinks Serbia will finish the year with a slight surplus or on equal footing, adding that Fiat's exports will contribute significantly. An Italian business association, Confindustria Serbia, organized a two-day visit of representatives of over 60 Italian companies from the construction and energy sectors, which are interested in cooperation and development. Dinkic recalled that Serbia is expecting an economic growth of two percent this year, as well as a 25 rise in export, which will considerably improve its export/import coverage ratio, and Italian investments are expected to contribute to this. Inviting Italian businessmen to invest in Serbia, he noted that Serbia is the only country in Europe which has free trade agreements with the EU, Russia, Belarus, Kazakhstan, Turkey, CEFTA and EFTA countries, which offer a combined market of one billion people. Dinkic noted Serbia has excellent relations with Russia and the two countries will work together on some infrastructure investments, such as the construction of the South Stream gas pipeline. This creates room for joint Italian-Serbian companies to work on these projects, he said. He said there are great opportunities for investments in the energy sector, because Serbia's hydropower potential has not been sufficiently exploited, and also in renewable energy sources. Dinkic said there will also be major works on irrigation and drainage system, an area where Serbia has established good cooperation with the United Arab Emirates. Italian Ambassador to Serbia Armando Varricchio said Italy was one of the major countries supporting Serbia's EU integration. Italy has a great interest in seeing Serbia develop, because it is a factor of stability in the region, he said, adding that for Italian companies Serbia is a natural jumping-off point for other markets, such as Russia or Turkey. (Tanjug, file) Tanjug

Minister invites Italians to invest in Serbia

Around 500 Italian companies with some 20,000 employees are currently active in Serbia and they had a EUR 2.5 billion turnaround in 2012, said the finance minister.

Thanks to Fiat's investments, the turnaround of Italian companies will reach EUR 4 billion this year, said Dinkić, recalling that the biggest investments were made in the automobile, textile, food and furniture industries, and the finance sector.

He added that trade with Italy totaled EUR 2.4 billion last year, and that Italy was Serbia's second biggest export and third import partner.

In the first two months of this year, Serbia has doubled its export to Italy and for the first time in history recorded a surplus with this country, said Dinkić.

The Serbian minister says he expects the trend to continue throughout the year and thinks Serbia will finish the year with a slight surplus or on equal footing, adding that Fiat's exports will contribute significantly.

An Italian business association, Confindustria Serbia, organized a two-day visit of representatives of over 60 Italian companies from the construction and energy sectors, which are interested in cooperation and development.

Dinkić recalled that Serbia is expecting an economic growth of two percent this year, as well as a 25 rise in export, which will considerably improve its export/import coverage ratio, and Italian investments are expected to contribute to this.

Inviting Italian businessmen to invest in Serbia, he noted that Serbia is the only country in Europe which has free trade agreements with the EU, Russia, Belarus, Kazakhstan, Turkey, CEFTA and EFTA countries, which offer a combined market of one billion people.

Dinkić noted Serbia has excellent relations with Russia and the two countries will work together on some infrastructure investments, such as the construction of the South Stream gas pipeline.

This creates room for joint Italian-Serbian companies to work on these projects, he said.

He said there are great opportunities for investments in the energy sector, because Serbia's hydropower potential has not been sufficiently exploited, and also in renewable energy sources.

Dinkić said there will also be major works on irrigation and drainage system, an area where Serbia has established good cooperation with the United Arab Emirates.

Italian Ambassador to Serbia Armando Varricchio said Italy was one of the major countries supporting Serbia's EU integration.

Italy has a great interest in seeing Serbia develop, because it is a factor of stability in the region, he said, adding that for Italian companies Serbia is a natural jumping-off point for other markets, such as Russia or Turkey.