10 years in Serbia: Dedicated contribution of foreign investors for better climate in Serbia

Belgrade, December 4th, 2012 – The Foreign Investors Council held the regular annual session of the Assembly, adopting the Annual Report for 2012 and altering FIC Statute.

The session was the opportunity to reflect upon the achieved results, in the year when FIC celebrates its 10th anniversary, and to discuss Association’s future strategies and plans. The Assembly also adopted changes to the Statute, updating of FIC goals and introducing clearer interpretation of FIC activities.

FIC President Costin Borc emphasised that FIC is the result of dedicated contribution of foreign investors for better climate in Serbia. Throughout the past decade, members of FIC offered solutions for complex regulatory issues through continuous exchange of knowledge and experiences, acting as constructive partner in reform processes Serbia is undergoing.

Commenting current environment, Borc said that year 2012 was quite challenging. Year 2012 was marked with the Serbian elections and did not leave much room for significant reforms. “Questions are not few, and answers are not simple. Continuing reforms will require the appropriate measures, clear vision and determination. FIC will be there to give support to champions of change and offer its knowledge and experience for benefit of the society”.

Borc said FIC successfully managed to initiate dialogue with the new Government, basing it on concrete advocacy platform and new edition of the White Book. In parallel, FIC continued to solidify its internal structures and communications in order to be of better service to members and increase its efficacy. During 2012, FIC interlinked with all significant stakeholders: from the Government and international organizations, business community and civil sector. In particular, FIC initiated and engaged in around 50 advocacy activities, organized the White Book launch and several expert roundtables, and built up 20 partnership arrangements.

Also, the Assembly featured presentations of 7 FIC committees, which represent the Association’s core value. Apart from preparing the White Book publication, all FIC committees initiated different advocacy activities in order to contribute to the improvement of business climate.

FIC Assembly re-confirmed readiness of FIC members to actively promote sustainable business environment by giving concrete reform proposals, based on shared experiences. Members concluded that the more proactive approach and synergy of activities in 2013 will create added value and have positive impact on fulfilment of the joint goal – to create a better, more predictable business environment in Serbia.

About FIC:
From a group of 14 major foreign investors which founded the association with the support of the OECD in 2002, FIC grew to become an independent organisation which today includes around 130 member companies, coming from around the globe and covering a wide range of sectors and industries. From an organisation which accounted for EUR 150 million in investments, 3,160 employees, and 1.24% of GDP in 2003, FIC today gathers companies which have invested almost EUR 17 billion, employ more than 88,000 and directly account for 16.54% of Serbia’s GDP.