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Foreign Investors Council
47, Gospodar Jevremova Street, IV Floor, 11000 Belgrade, Serbia
Phone: +381 11 3281 958, 3281 965
e-mail: office@fic.org.rs

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10. October 2018.

FOREIGN INVESTORS COUNCIL CONDUCTED THE 5TH VISIT TO EU INSTITUTIONS IN BRUSSELS

Brussels/Belgrade, October 9, 2018 – With series of successful meetings with representatives of the European Commission, delegation the Foreign Investors Council (FIC) finalized its visit to Brussels, fifth in a row. Thus, the FIC continued to support the process of European integration of Serbia, being a reliable partner both to the Serbian Government and the European Union.

During a two day visit, FIC delegation met with representatives of 7 directorate generals of the European Commission: NEAR, ECFIN, TAXUD, EMPL, TRADE, CNECT, and GROW. In addition, meetings with representatives of the European External Action Service (EEAS) and with the Serbian Ambassador to EU Ana Hrustanovic were also held.

At the meeting with Director for Western Balkans Genoveva Ruiz Calavera, FIC President Yana Mikhailova said that“Serbia continues steady but moderate progress in reforms, which has secured stability, but is not enough to reach the set goal. In order to catch up with EU level of economic development – stronger economy and higher standard of living – Serbia needs to speed up the reforms and accelerate accession negotiations”. Special attention needs to be devoted to achieving sustainable fiscal consolidation (structural reforms, especially privatization and corporatization of state-owned enterprises) and improving law implementation, especially in tax area (strengthening tax administration).

In the discussions with EU institutions, the FIC underlined instrumental importance of reforms in the following fields: tax, labour, trade and inspections, food safety, real-estate, digitalization& e-commerce, telecommunications, and general legal framework (specifically bankruptcy and foreign exchange regulations).

As always, FIC underlined its readiness to continue and enhance its engagement to support EU accession process, through exchange and cooperation with both Serbian Government and EU institutions. European institutions were again encouraged to actively support Serbia, because mutual collaboration is needed for bringing Serbian market closer to EU rules and practices. Members of FIC delegation were: FIC President Yana Mikhailova, FIC Board Member Goran Pekez and Executive Director Ana Tozzi.

About FIC: FIC is a business association which, since its establishment, is advocating for improvement and increase of competitiveness of the local market and harmonization with the EU regulation. Each year, the FIC produces the "White Book" publication which provides comprehensive set of recommendations for further improvement of the business environment so that the Serbian market becomes more attractive for new investments, but also easier for doing business for the companies that are already operating on the market. FIC continues to expand - gathering more than 120 companies and according to data from 2018 FIC members invested over €33 billion and employ more than 100.000 people in Serbia. FIC members, which are the driving engine of the Serbian market, invest their knowledge and expertise in the work of this association in order to help Serbia to create more attractive and sustainable business environment and to more quickly integrate into the EU market. FIC is also focusing on promoting solid business ethics and high corporate governance principles within the organization and towards local companies, the Government, and other external stakeholders. Through support and active engagement of membership, FIC has proven to be a strict guardian of the business community interests and at the same time a reliable partner to the Government of Serbia and other relevant stakeholders.

WB Essentials

WB Essentials
We present you “The White Book Essentials” – an executive summary of the White Book edition for 2018.

White Book

White Book
Published yearly since 2003, goal of the White Book is to enable removing unneeded barriers and make doing business in Serbia easier, thus enabling better inflow of investments. It is promoted every year in the fourth quarter at the prestigious high-level event.

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Guide to Foreign Investors Council in Serbia 2018/19

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Reality Check Conference is an important tool in achieving FIC goals: it is an event meant to remind the authorities about the recommendations from the latest White Book edition and check status of their implementation.