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DOING BUSINESS IN SERBIA & THE ROLE OF THE SERBIAN CHAMBER OF COMMERCE

DOING BUSINESS IN SERBIA & THE ROLE OF THE SERBIAN CHAMBER OF COMMERCE. 16 th Annual Assembly of the Serbian Unity Congress , Chicago, 27-29.10.2006. Ljubiša Dimitrijević, SCC DIRECTOR. BASIC DATA. Area : 88.361km 2 Population : 9.468.000

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DOING BUSINESS IN SERBIA & THE ROLE OF THE SERBIAN CHAMBER OF COMMERCE

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  1. DOING BUSINESS IN SERBIA&THE ROLE OF THE SERBIAN CHAMBER OF COMMERCE 16th Annual Assemblyof the Serbian Unity Congress, Chicago, 27-29.10.2006. Ljubiša Dimitrijević, SCC DIRECTOR

  2. BASIC DATA • Area:88.361km2 • Population: 9.468.000 • Employed: 2.639.000 • Capital city - Belgrade, inhabitants:1.600.000 • National currency:dinar • Official language: Serbian • Time zone GMT+1

  3. Geo-strategic position • Intersection of pan-European Corridors X and VII • Corridor X: Highway Salzburg-Thessaloniki, including directions Budapest-Belgrade and Niš-Sofia-Istambul • Corridor VII: Danube, access to theBlack Sea, andNorth Seavia canal Rein-Mein-Danube • Danube length through Serbia – 580 km

  4. Appropriate infrastructure Road network 40.845 km: - 5.525 km highways,- 11.540 km regional roads, - 23.780 km local roads.6 Danube ports Geographic position and market access

  5. Market access • Serbia is the center of the South East Europe Free Trade Zone– free market access of 60 mil. inhabitants • SE Europe is the region with the fastest economic growth rate in Europe • Since Dec.2000, EU unilateraltrade measures allow fornon tariff exports to the EU • The only country outside of the Commonwealth of Independent States with the FTAwith the Russian Federation (150 mil. Strong market) • Limited number of exceptions: vehicle assembly, ready made garments, some alcoholic beverages

  6. Knowledge of a foreign language • Knowledge of English (% population) Serbia 42.3 Czech Republic 22 Poland 22 Romania 16 Bulgaria 14 Human capital Hungary 14 Broader knowledge base of English language in relation to other countries of Southeast, Centraland Eastern Europe Source: Gallup International

  7. Investment facilitation in Serbia • Lowest corporate profit tax rate in Europe – 10% • 10yrs. Tax free for hefty investments • Tax benefits for the creation of new jobs • Tax credit up to 40% for the investment amount in capital base • Accelerated depreciation Tax incentives More stimulating fiscal and Legal frame • Imports of certain kinds of equipment isexempt of customs duties • Imports of raw materials, semi-products and components is exempt from customs duties andother importation dues • Liberalization of ownership regulations Other incentives

  8. Real growth rates of GDP Source: Statistics Institute of Serbia.

  9. GDPin mil. USD & per capita GDP Source: NBS, Economic overview, January 2006.

  10. Structure ofGrossdomesticproduct (I-VI.2006.) Source: SIS.

  11. Industrial productionin Serbia (growth rates in %) Source: Statistics Institute of Serbia

  12. Annual inflation rates (in %) Macroeconomic stability Source: Statistics Institute of Serbia

  13. Serbia’s foreign trade volume 2000-2006 Source: Statistics Institute of Serbia

  14. Export import ratio2000-2006 Source: Statistics Institute of Serbia

  15. Serbia’s export structureby branch, I-VIII 2006. Source: Statistics Institute of Serbia

  16. Serbia’s import structureby branch, I-VIII 2006. Source: Statistics Institute of Serbia

  17. Serbia’s exports in 2006. majorforeign trade partners (in mil. USD) Source: Statistics Institute of Serbia

  18. Serbia’s imports in 2006. majorforeign trade partners (in mil. USD) Source: Statistics Institute of Serbia

  19. Serbia and USA trade(in mil. $)

  20. Export & import ofcommercialservices (mil. USD) Source: NBS.

  21. FOREIGN DIRECT INVESTMENTSFOR PERIOD 2001-2006 (mil. USD) Source: NBS.

  22. Major investors in Serbiafor the period 2001-2005(cash investments, mil. USD) Source: SIEPA.

  23. FDI in Serbia success stories US Steel - USA • Sept 2003 – The acquisition of the bankrupt company, witnesses the largest steel manufacturer in Serbia • Major business adjustmentstook place in 2004 • In 2005. U. S. Steel Serbia acclaimed as the bestexporter in Serbia. Mr. DouglasR. Matthews, General Director: “Our employees have efficiently responded to the demands of training in the area of continuous upgrading of work safety, product quality, customer service, environmental protection and cost effectiveness.”

  24. FDI in Serbia- success stories Ball Corporation - USA • Regional center – production equipmentfor aluminumcans • Foundations erected in 2004, production launched in 2005. • Most importantGreenfield investment in the Region in 2003, OECD award Mr. Dragiša Antić,Vice President : “Since the inception of our plan assessment we have cooperated with three different Prime Ministers and their Cabinet members; they all supported us and offered assistance for the realization of our investment project.”

  25. FDI in Serbia-success stories Tetra Pak - Sweden • Licensed productionin Serbia since1960s • Acquisition realized in 1997 • Exports directed toward EU and Russia • Among five most productive factories in Europe (out of 15) Mr. Nelson Falavina, Managing Director: “During 16yr. long career in the Tetra Pak company worked in sales, marketing and Management. In Serbia since January 2006 from Tetra Pak-Venezuela, where He occupied the position of the General Director While at present he is responsible for Tetra PakBalkan which includes the markets of Romania, Bulgaria, Moldova, Macedonia, Republic of Srpska, Serbia & Montenegro

  26. FDI in Serbia-success stories Crédit Agricole • Meridian Banka - member of Credit Agricole group, second largest bank in the world in capital base. • Objective: Leader in banking with population, Small and medium sized enterprises and with the economic sector • Božidar Đelić, President of the Board of Directors of Meridian Bank A.D. Tomislav Đorđević, General Director: “Due to the partnership with the Credit Agricole, Meridian bank will be in the position to accelerate its development and offer its customers around the country complete services and wide range of products."

  27. FDI in Serbia-success stories Carlsberg - Denmark In Sept. 2003. the decision was made to buy majority share package (51%) Brewery Čelarevo Mr Boguslaw Bartczak, CEO Carlsberg Brewery Čelarevo: “During the first 18 months After the takeover of Brewery Čelarevo12 mil. € were invested In modernization of production facilities & upgrade of our brand product, enlargement of distribution chain, Ad campaign and local communal projects.In particular, we are proud of new 3 mil € worth production line of bottled Beer in PET packaging with capacity of 5200 PET 2-leter bottles/per hour”

  28. Investors in Serbia Company Country of origin Activity Form of investment Value (mil. EUR) USA Tobacco Privatization 518 Belgium Beer Acquisition 326 Italy Banking Acquisition 277 Russia Petrol Privatization 210 Switzerland Cement Privatization 185 USA Steel Acquisition via liquidation 150 France Privatization 126 Cement Greece Cement Privatization 94 Great Britain Tobacco Privatization 87 USA Packaging Greenfield 80 Austria Home chemical products Privatization 70 Germany Floor coverings Joint venture 67 Denmark Beer Acquisition 53

  29. Foreign banks in Serbia: • Green field investicija • kupovina domaće banke - Jubanka • ALPHA BANK A.E. • BANCA INTESA • CREDIT AGRICOLE • EFG EUROBANK A.D. • ERSTE BANK • HVB BANKA A.D. • HYPO ALPE-ADRIA-BANK A.D. • LHB BANKA • NATIONAL BANK OF GREECE S.A. • NOVA LJUBLJANSKA BANKA • PIRAEUS BANK • ProCredit BANK A.D. • RAIFFEISENBANK A.D. • SOCIÉTÉ GÉNÉRALE YUGOSLAV BANK A.D. • VOLKSBANK A.D. • kupovina domaće banke- Delta banka • kupovina domaće banke - Meridian banka • Green field investicija • kupovina domaće banke - Nacionalna štedionica i Post banka • kupovina domaće banke - Novosadska banka • Green field investicija • kupovina domaće banke - Eksim banka • Green field investicija • kupovina domaće banke - Prva preduzetnička banka • Green field investicija • kupovina domaće banke - Kontinental banka • kupovina domaće banke - Atlas banka • Green field investicija • Green field investicija • Green field investicija • kupovina domaće banke - Trust banka

  30. Who are we? • Head office in Belgrade, economic and cultural centerof the Western Balkans • 33 organizational unitsoffering services to the companies • New Law on Chambers in 2002-mandatory membership • 18 regional chambers • 9 representative offices with branches (Belgium, Russia, Germany, Bulgaria,Italy, Austria, Romania, B & H, Ukraine) • 74.000 companies • 240.000 entrepreneurs

  31. Scope of Activities: • Business informationand effective services to the companies • Execution of public powers • Privatization • Exports promotion • Improving the image of Serbia • Promotion of the process of regionalization and EU accession • Lobbying for business • Cooperation with Serbian Government

  32. SCC is an important address for: • All members related to the business issuesat home and abroad • All foreign investors doing business in Serbia • Business forums • Continuous business education • Basic economic information • Adoption of new laws and regulations • Economic association with the EU, WTOandopening to the world

  33. Services and assistance • Certificates on origin of goods • Solvency of domestic and foreign companies • ATA Carnets • TIR Carnets • Issuing of necessary trade documents • Individual assistance for requests & applications in trade related documentation &foreign country trade regulations • Information on Free Trade Zone in the region • Accession to the World Trade Organization

  34. THANK YOUANDWELCOME TO SERBIA AS SUCCESSFUL BUSINESS PEOPLE Resavska 13-15, Beograd, Serbia www.pks.co.yu

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