Serbia Invest

04 Aug 2022

Investing in the pharmaceutical sector – Serbia

As part of our series on investment opportunities in Serbia, this time we delve into the pharmaceutical industry.  The coronavirus pandemic demonstrated that Serbia has significant potential in the sector that is still running strong.  Unlike other industries, the pharmaceutical industry has been showing unprecedented growth. The high demand for medicines, supplements, basic hygiene products and disinfectants, and other medications has shown that there is a strong need for businesses and institutions that will meet this demand.  In that sense, Serbia’s pharmaceutical industry showed high efficiency and managed to establish and maintain regular supply, stable production, and unhindered imports as […]

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19 Jan 2022

EU’s Global Gateway and China’s Belt and Road Initiative

The Global Gateway initiative was unveiled on December 1, 2021, as a strategy of the European Union (“EU”) to support sustainable infrastructure development around the world.  The EU is planning to invest EUR 300 billion over five years.  The European Commission pitched the Global Gateway as a template for how Europe aims to build more resilient connections across the globe. The Global Gateway is about increasing investment, promoting values and high standards, good governance and transparency, partnerships based on equality, green, clean, secure infrastructure, but also catalyzing and supporting private sector investment in new markets as part of the Global […]

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14 Jan 2022

Making the Most of FDIs in Serbia

For several years in a row, Serbia is ranked among the leading destinations for foreign investors.  According to the Greenfield FDI Performance Index, in 2019 Serbia was ranked first among 105 states observed by the index.  A similar status was maintained throughout the subsequent years as Serbia ranked fifth in 2020, and sixth in 2021.  According to the World Bank Doing Business rankings, Serbia is ranked among business-friendly jurisdictions, whose ease of doing business index grows regularly. The willingness to invest raises concerns regarding the legal and institutional framework of the host economy.  Bilateral investment treaties (“BIT”) have been presented […]

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13 Jan 2022

New Capital Market Act in Serbia

The end of 2021 was marked by changes in the legislation of the Republic of Serbia, which included the adoption of a new Capital Market Act (“Act”) that entered into force on January 5 this year. The objective of the Act is to introduce greater transparency and responsibility in business, the introduction and development of financial instruments offered on the Serbian capital market, creating a more attractive environment for both domestic and foreign investors. It was adopted following the government’s Capital Market Development Strategy 2021-2026, and the Action Plan for its implementation. The law will start to apply after one […]

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05 Mar 2021

Our Energy practice is growing every day

Our Energy practice team has repeatedly demonstrated its credibility by devising unique opportunities for greenfield and brownfield investments for our clients. We provide comprehensive solutions related to privatization, regulatory compliance and due diligence in cooperation with eminent regulatory, corporate and financial experts. Counsel to Norwegian NBT AS on Wind Farms Project in Serbia Our latest accomplishment in the energy sector is providing counsel to NBT AS, Norway, a utility-scale wind power developer (exceeding 100 KW of power), in partnering with WV International (formerly Windvision).  WV International has been developing wind farm projects in Serbia since 2010 and has been active […]

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28 Sep 2017

Cross Border M&As to Be Explicitly Regulated – Looking Towards the Amendments to the Companies Act

The public debate on the Draft of Amendments of the Companies Act, suggested and prepared by the Ministry of Economy in April, will take place in Belgrade on 4th October 2017. As part of the drafting procedure, the Ministry tried to identify and address business sector`s concerns regarding the Companies Act and identify areas where amendments to current regulatory framework might be needed.  In order to facilitate the above-mentioned, the working group also included representatives of the Chamber of Commerce and Industry of Serbia, with more than 60% of the comments submitted by the companies to the Ministry, being adopted. […]

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18 Apr 2016

The New Decree on the Conditions and Manner of Attracting Investments – A Step Forward In Creating a More Favorable Business Environment for the Investors, Yet Some Questions Remain Unanswered

To create a more favorable business environment for domestic and foreign companies wishing to invest in Serbia, and to enhance the national economy, a new Decree on the Conditions and the Manner of Attracting Investments1 (Decree), announced by the Act on Investments2, has been enacted on 11 March 2016. Relying on the Serbia Investment and Export Promotion Agency’s (SIEPA) 2015 Decree on the Conditions and Manner of Attracting Direct Investments3 (SIEPA Decree), the new Decree provides for incentives in the form of grants or, under certain conditions, exemption from customs duties, both for the investments in new production facilities (greenfield […]

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17 Feb 2016

Regional Subsidies Race to the Bottom Intensifies?

A race to the bottom is a socio-economic phrase used to describe a situation in which countries or companies try to compete in order to attract and retain economic activity and the latest data from the Center for Economic Analysis (CEA) in Macedonia suggests that the country is pushing the envelope on its regional counterparts.  CEA recently published that seven companies doing business within Macedonian technological industrial development zones have have been granted a total of 56 million euros in state aid.  In certain cases, the state aid granted amounted up to 47% of overall value of the investment.  Vesna Garvanlieva, CEA […]

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19 Jan 2016

Changes to the Agricultural Land Act

On 29 December 2015 Serbian Parliament amendments to the Agricultural Land Act (the “Act”) and with the changes effective as of 7 January 2016. The amendments primarily focus on introducing new ways in which to manage and dispose of state-owned agricultural land. The key changes are: revision of the conditions for exercising the right of first refusal, establishment of the right of priority lease of agricultural land, modifications regarding lease and use rights, use without reimbursement, and disposal of state-owned agricultural land. 1. The right of first refusal can be exercised as part of the specific procedure, which local self […]

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09 Dec 2015

Gecić Law Contributes Serbian Chapter to Legal Aspects of Doing Business in Europe – Second Edition

We are pleased to announce that our partner Bogdan Gecić together with Dr. Tatjana Jovanić, an associate professor at the University of Belgrade Faculty of Law, co-authored the Serbian chapter for Legal Aspects of Doing Business in Europe – Second Edition.  The chapter provides a comprehensive overview of most important legal aspects for both domestic and foreign investors and businesses in Serbia.  The chapter provides an in-depth analysis of the following topics: Enterprises: Establishment, Acquisition & Bankruptcy Customs Regulation Investment Incentives and Currency Regulation Competition and Market Regulation Intellectual Property Employment Banking The edition is published by Juris Publishing, Inc., a full-service […]

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