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22. December 2016.
FIC VP Kyritsis Promoted WB
In the interview for e-Kapija on December 22, FIC Vice President John Kyritsis promoted WB as a key FIC project and useful set of recommendations for the Government to make Serbia more attractive place for investments, drew attention to the main findings of the latest edition and outlined FIC expectations.
This was one of the media appearances convened as part of the WB Promotion. “The Government has considerably improved the business climate, through fiscal consolidation and amendments to the part of the general legal framework, especially in the area of real estate and construction. The FIC believes that reforms will continue and even accelerate”, Kyritsis said. As main recommendations from the WB, he cited stepping up important structural reforms, in particular privatization and corporatization of public enterprises, better law implementation and continuation of the efficient harmonization of the legal system with the EU. As key areas where the harmonization of the legal system is needed, he outlined food safety, foreign exchange operations, bankruptcy proceedings, conversion of exploitation rights into land ownership rights, as well as areas of parafiscal charges and workforce renting. Asked about the parafiscal charges, FIC Vice-President outlined the importance of this issue for predictability on the market and pleaded for the clear rules. “We need a law on fees which would provide security from new parafiscal charges and precise rules about when and how new parafiscal encumbrances may be implemented. The fact that the Ministry of Finance has formed a work group for the preparation of the new law on fees early in 2016 is a positive sign and we hope to see their bill proposal before the end of the year”, he said. FIC Vice President also outlined the importance of the initiation of amendments to the Law on Bankruptcy procedure, and announced that FIC will monitor this process carefully. John Kyritsis presented the areas with most and least progress, and presented FIC members as exemplary companies that bring the best standards in Serbia in terms of business models, modern practice and innovations, but also corporate social responsibility. The interview can be accessed here below.