Foreign investors predict prosperous future to Serbia's economy

Serbia's economic parameters provide high expectations for the future, said Yana Mikhailova, president of Foreign Investors Council (FIC) in Serbia when presenting the annual "White Book" here on Monday.

At the presentation in Belgrade, Mikhailova said that the new "White Book 2016" sees the biggest progress in areas of real estate, construction as well as four areas of the general legal framework related to areas of competition, consumer protection, state aid, public notary, as well as in telecommunications, oil and gas, and private insurance.

According to her, the book marked least progress in taxation and labor regulations, as well as in the field of law related to foreign exchange and protection of whistleblowers, but also in the sectors of food and agriculture, security and hygiene products in the household and cosmetics.

Yet she praised Serbia's fiscal consolidation, estimating that "this made good economic parameters possible that laid foundation for high expectations in future."

Mikhailova maintained that the new Serbian government should seize the moment and speed up structural reforms even more, along with cutting bureaucracy and improve implementation of law.

Serbian Prime Minister Aleksandar Vucic also attended the presentation. He promised the country will speed up structural reforms, especially when it comes to reform of public companies, and announced that a working group will be set up together with FIC which will meet on a weekly basis, while Vucic himself will partake once in a month.

He reassured that the Serbian government is open to investors, reminding that the country is predicting further economic growth with a rate three times higher than the European average.

"We can achieve many things with your support," Vucic concluded in his speech in front of members of FIC who are representing foreign companies that do business in Serbia. Endit