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The World Bank declared Serbia’s reforms to attract foreign investors the best in Southeast Europe. On behalf of the Serbian Government, the recognition was received by Secretary of State Milun Trivunac.

The World Bank commended Serbia for stepping up reforms and especially for passing a new law governing investment. At the Investment Competitiveness Forum organised by the World Bank in Vienna, Serbia has been singled out as the most innovative country in this part of Europe in attracting foreign investment.

“Serbia has made progress in a number of areas of competitiveness. The global competitiveness index shows that we have made the most progress in eight out of 12 pillars”, says Trivunac, who is taking part in the forum along with the Acting Director of the Serbian Development Agency Radoš Gazdić.

Trivunac says that the Ministry of Economy plans to focus on further enhancing competitiveness, which will help boost Serbia’s economic growth rate.

The Minister has identified attracting strategic investment, increasing exports, accelerating startup growth, increasing the contribution of fast-growing small and medium enterprises to the economy, regional specialisation of processing industry, solving the problem of big loss-making companies and producing new industrial policy as the key measures on which to focus.

“The Ministry of Economy and the World Bank are working together on the new industrial policy for 2030, which will define the measures and mechanisms aimed at innovation development, application of the Industry 4.0 concept and smart specialisation of the processing industry in Serbia”, says Trivunac.

Source: Ministry of Economy

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