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Foreign Investors Council
47, Gospodar Jevremova Street, IV Floor, 11000 Belgrade, Serbia
Phone: +381 11 3281 958, 3281 965
e-mail: office@fic.org.rs

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27. February 2017.

Ana Firtel on 15 Years of FIC

In an interview for Svet osiguranja magazine published on February 27, FIC Executive Director Ana Firtel drew attention to the 15 years of FIC development from the organization with 14 members in 2012 to the 130 member companies holding 21.7% of Serbian GDP and employing more than 94,000 people last year. FIC was given high promotion, with the interview announcement featuring at the front page together with Ana’s photo.

’’During these 15 years we worked a lot on strengthening the corporate structure within the organization in order to introduce clear and equal internal regulation for all members, as this is exactly what we expect from the state“, she said. As main improvements needed for establishing more efficient and productive economy and better service of the state administration to the businesses, she said that some issues dragging for decades should be resolved, including privatization, corporatization of public enterprises, public administration reform and transfer to the e-government.  ’’Looking back at the achievements, we are cautiously optimistic as certain smaller steps are visible, but there is the need for much more in order for the improvement to be tangible, and for the market to benefit from the improvements“, she said. Talking about the developments in the past year, FIC ED outlined notable improvements in the domains of construction licences and competition protection, while drawing attention also to the significant issues that remained unaddressed, such as the inconsistent implementation of tax rules, restrictive rules in forex operations and lack of progress in the labour regulations since mid-2014.  Asked about the situation in insurance, Ana Firtel said that the sector has significant potential, but that the regulatory framework doesn't enable to unleash this potential. ’’Unfortunately, we can say that the insurance in the last WB edition is among the sectors in which the least improvement was realized“, she said.  As main issues she outlined the unequal treatment of the composite and non-composite companies, rigid corporate governance, changes needed in the MTPL, as well as the discouraging treatment of the life insurance. The sector is also affected by the rigid labour legislation, namely the absence of the regulation on staff leasing, as well as serious challenges due to the inconsistent implementation of tax rules. The interview in Serbian can be accessed here below.

 

FIC GUIDE

FIC GUIDE
Guide to Foreign Investors Council in Serbia 2016/17

White Book

White Book
Published yearly since 2003, goal of the White Book is to enable removing unneeded barriers and make doing business in Serbia easier, thus enabling better inflow of investments. It is promoted every year in the fourth quarter at the prestigious high-level event.

Rcc

Rcc
Reality Check Conference is an important tool in achieving FIC goals: it is an event meant to remind the authorities about the recommendations from the latest White Book edition and check status of their implementation.