Serbia Guarantees Foreign Investments' Security

Serbia Guarantees Foreign Investments' Security

Serbian Charge d'Affaires in Bulgaria Dejan Finic on Monday told a round table organized by Bulgarian investors in Serbia that the Serbian State supports foreign investments and will guarantee their security. The round table discussed Bulgarian-Serbian relations in the context of new political developments and the recognition of Kosovo's independence, BTA reported.

Ljubisa Mitic, representative of the Serbian Industrial Association in Bulgaria, said the Association will not cause any obstacles to Bulgarian business people. He said no one will create "organized obstacles". Mitic did not rule out the possibility of isolated problems.

According to data of the Association, Bulgaria ranks seventh in terms of imports to Serbia. Two-way trade increased 48 per cent over the last four years. There are 271 Bulgarian-Serbian joint ventures. Bulgaria ranks second in terms of number of privatized companies in Serbia.

Bulgaria's Deputy Economy and Energy Minister Yavor Kouyoumdjiev said that recently there has been growing Serbian interest in Bulgarian pharmaceuticals and oil products. Over the last two years there has been a boom of Bulgarian investments in Serbia, he said. He cited data of the Serbian National Bank, according to which Bulgaria placed 12th in 2007 in terms of investments.

Representatives of Bulgarian investors in Serbia said they have so far worked excellently in Serbia. There are transparent procedures and clear rules in the country, they said. According to them, Serbia is a good place for investment, offering a good investment climate. Most Bulgarian business people said that currently they feel safe in Serbia. There were isolated expressions of fear of possible negative financial results.

The Bulgarian investors in Serbia laid the foundations for the creation of a Bulgarian-Serbian economic forum. This NGO will assist contacts in business and entrepreneurship between the two countries.

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