Enhancement of the business environment in Serbia

16 / 04 / 2018

The Prime Minister of the Republic of Serbia Ana Brnabic and Vice-President of the International Finance Corporation (IFC) Georgina Baker have signed the Cooperation Agreement between the Government of the Republic of Serbia and the International Finance Corporation relating to the support for the realisation of the Serbia Investment Climate Programme.

The ceremony of signing of the Agreement was attended by the IFC Regional Manager for the Western Balkans Thomas Lubeck and the Ambassador of Great Britain in Serbia Denis Keefe.

The Serbia Investment Climate Programme is endorsed by the United Kingdom and will last until 1 January 2021.

The purpose of the Agreement is to reduce the administrative burden that the businessmen face through the analysis of 1,750 administrative procedures linked with the doing business and by providing recommendations for their simplification, optimisation or elimination. One of the objectives is to enable the carrying out of 100 procedures online.

It is expected that through the Project the business sector will make the saving of at least 8 million dollars and stimulate the competition through elimination of two anti-competition practices minimum in selected areas.

The Prime Minister has emphasised that e-government is the key to resolution of three major problems the state administration is faced with, and these are: efficiency, transparency and corruption. She also stressed that through digitalisation the administrative burden will also be significantly reduced, which will lead to promoted development of the private sector and entrepreneurship.

Representatives of the IFC have praised the efforts the Government of Serbia undertakes to create a better business environment that will enable the rise of investment and foreign direct investments, the strengthening of competitiveness, the rise of employment and of the citizens’ standard of living.

On the part of the Government of Serbia the implementation of the Serbia Investment Climate Programme will be coordinated by the Public Policy Secretariat of the Republic of Serbia.