Serbia Investment and Export Promotion Agency SERBIA QUALITY WORKS Jelena Akovic Senior Legal Advisor ���������������������������������������������������������
ABOUT SERBIA Serbia Investment and Export Promotion Agency Official Name: Republic of � Serbia Area: 88,361 km 2 � Population: 9.5 million � Official Language: Serbian � State Form: Democratic � Republic Capital: Belgrade (1.7 � million) � Currency: Serbian Dinar � (RSD) � ���������������������������������������������������������
EU ACCESSION PLANS Serbia Investment and Export Promotion Agency � The Stabilization and Association Agreement (SAA) signed in April 2008; � SAA ratified by EU parliament in January 2011 � EU candidate status received on March,1 st 2012; � Trade interim agreement with EU; � Visa liberalization for Serbian citizens; ���������������������������������������������������������
DEVELOPMENT OF ROAD INFRASTRUCTURE Serbia Investment and Export Promotion Agency � International – Corridor VII � National – South Adriatic Highway, Regional Motorways � Aim to connect all the major centers of Serbia ���������������������������������������������������������
TRENDS AND PROJECTIONS OF SERBIAN ECONOMY Serbia Investment and Export Promotion Agency 2005 2006 2007 2008 2009 2010 2011 2012 GDP growth rate (%) 5.4 3.6 5.4 3.8 -3.5 1 2 3 Unemployment rate (%) 21.8 21.6 18.8 14.4 16.9 20 24.4 tbd FDI (€ million) 1,275 3,430 1,597 1,660 1,372 860 1,827 tbd Inflation (%) 13.6 7.3 11.0 8.6 6.6 10.3 7.0 4.2 Export (€ million) 3,608 5,102 6,432 7,428 5,961 7,393 8,439 tbd Import (€ million) 8,439 10,463 13,951 16,478 11,504 12,621 14,449 tbd Projected by Serbia Ministry of Finance, National Bank of Serbia, World Economic Outlook Database and International Monetary Fund ���������������������������������������������������������
SERBIA ECONOMY TREND AND PLANS Serbia Investment and Export Promotion Agency Projected by Serbia Ministry of Finance, National Bank of Serbia, World Economic Outlook Database and International Monetary Fund ���������������������������������������������������������
MOST ATTRACTIVE TAX SYSTEM IN EUROPE Serbia Investment and Export Promotion Agency Salary Tax VAT Corporate Profit Tax ���������������������������������������������������������
SERBIA COST TABLE Serbia Investment and Export Promotion Agency Typical monthly salaries: Net: Total: Minimal salary: 184 € 303 € Average salary in automotive ind. 305 € 503 € Average blue collar salary 250 € 412.5 € Average white collar salary 550 € 907.5 € Working week: 40h Overtime: 8h/week 4h/day No. of shifts: max 3 Utilities: Electricity cost: 0.05 €/kWh Gas cost: 0.42 €/m3 Water cost: 0.2 €/m3 Building: Average rent cost: 4 €/sqm Average building cost: 400 €/sqm ���������������������������������������������������������
SERBIA FREE TRADE AGREEMENTS Serbia Investment and Export Promotion Agency European Union EFTA Kazakhstan Russia USA – CEFTA Turkey Belorussia preferential trade ���������������������������������������������������������
Serbia Investment and Export Promotion Agency Financial grants system Financial grants system Large and mid-sized investment projects Large investment projects Mid-sized investment Eligible projects projects Up to 17% of the Up to 20% of the Up to 10% of the total Amount of funding (€) total investment total investment investment €100 million or Between €50 and Minimum investment ammount €50 million greater €100 million Minimum number of new, full-time 300 300 150 jobs created Investments of special importance: • Minimum investment ammount €200 million • Minimum number of new, full-time jobs created 1000 ���������������������������������������������������������
Serbia Investment and Export Promotion Agency Financial grants system Financial grants system Standard-scale projects Eligible Internationally- Strategic investment Manufacturing sector marketable projects in the projects services field of tourism Entire teritory of Entire teritory of Undeveloped the RS the RS regions Standard regions Minimum 500 000 € 1 000 000 € 500 000 € 5 000 000 € investment Minimum number of jobs 50 50 10 50 created Ammount of 4 000-10 000 € 4 000-10 000€ 4 000-10 000€ 4 000-10 000€ funding ���������������������������������������������������������
FOREIGN INVESTMENTS IN SERBIA Serbia Investment and Export Promotion Agency Since 2001 Serbia attracted more then 19 9 billion EUR of investments billion EUR of investments Since 2001 Serbia attracted more then 1 ������������������������������� ���������������������������������������������������������
Italian investments in Serbia Serbia Investment and Export Promotion Agency Izvor: NBS ���������������������������������������������������������
Presenza Italiana in Serbia Serbia Investment and Export Promotion Agency Valore Società Settore Tipo d’investimento (mil. EUR) FIAT Automobilistica Joint Venture 944 INTESA SAN PAOLO Bancaria Acquisizione 660 FONDIARIA SAI Assicurazione Privatizzazione 220 GOLDEN LADY Tessile e abbigliamento Greenfield 96 BENETTON Group Tessile e abbigliamento Brownfield 43,4 FANTONI Legno e arredamento Privatizzazione 31 GENERALI GROUP Assicurazione Acquisizione 30 SFIR Agroalimentare Acquisizione 25 FINDOMESTIC BANK Bancaria Acquisizione 24 CALZEDONIA Tessile e abbigliamento Greenfield 20 FULGAR Tessile Greenfield 20 ���������������������������������������������������������
SERBIA - ITALIA Rapporti commerciali Serbia Investment and Export Promotion Agency Anno Esportazione dalla Serbia Importazione nella Serbia Milioni € Milioni € 2005 525.1 732.8 2006 736.1 872.9 2007 799.5 1292.8 2008 763.3 1475.6 2009 586.1 1111.0 2010 843.9 1078.8 2011 936.6 1557.6 Fonte: Dati sul commercio estero Istituto Nazionale di Statistica � Nel 2011, secondo i dati pubblicati da parte del Istituto per la Statistica della Serbia, l’Italia risulta il terzo partner commerciale della Serbia, dopo la Federazione Russa e la Germania � L’esportazione dalla Serbia all’ Italia: abbigliamento, acciaio, ferro, metallo colorato, calzature e articoli di plastica. � L’ esportazione dall’Italia verso la Serbia: veicoli, macchinari, tessuti, macchinari ad uso speciale, abbigliamento, etc. ���������������������������������������������������������
TRADITION OF AUTOMOTIVE INDUSTRY IN SERBIA Serbia Investment and Export Promotion Agency 1939 1954 � Current no. of Companies: around 100 1965 � Number of Employees: around 24,000 � Turnover 2010: 861.7 million EUR 1971 � Largest Companies: Fiat Automobiles Serbia � 1988 Michelin - Tigar Tyres � Trayal � CIMOS Livnica Kikinda AI � 2008 DAD Dräxlmaier � Yura Corporation d.o.o. � 2012 ���������������������������������������������������������
AUTOMOTIVE FDI IN SERBIA 2004 Serbia Investment and Export Promotion Agency ���������������������������������������������������������
AUTOMOTIVE FDI IN SERBIA 2006 Serbia Investment and Export Promotion Agency ���������������������������������������������������������
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