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21. February 2017.
FIC Views Promoted at TGI RE Conference
On February 21, Real Estate Committee Vice President Ivan Petrovic promoted FIC views at the 2nd Serbian Property & Infrastructure Development Conference organized by TGI.
At the Panel on the improvement of legal framework and tax system for the property and infrastructure development, he said that although Mortgage Act introduces various benefits such as: easier procedure of constitution of mortgage, easier enforcement procedure which helps financing of important and large scale projects, and despite the fact that Mortgage Act was amended in 2015, general standpoint of FIC is that in the near future additional changes of Mortgage Law should be done, regulating the relation between business premises lease and mortgage, especially in conflict of those two laws as well as improving and better defining business premises lease as such. In addition, the one important segment of PPP projects is obtaining of building permits issue. In this area the Republic of Serbia was in 2015 on the bottom of the Doing Business List of the World Bank. Amendments of Law on Planning and Construction, adopted end of 2014, but fully implemented in 2015 and 2016 resulted in significant jump in Doing business list which creates higher legal certainty and better perception of foreign investors and persons interested in investing in Serbia. He spoke at the panel along with representatives of law offices and consultancies. The event was co-sponsored by the JPM Law Office where FIC REC President works. The conference was opened by the Minister of Construction, Transportation and Infrastructure Zorana Mihajlovic, and other participants included officials from Belgrade, international financial organizations, public and private companies, and diplomatic corps.