IFC, a member of the World Bank Group, announced today that it has signed an advisory agreement with the Development Agency of Serbia (RAS) to help the country in the areas of investment policy, reform, and promotion.
IFC will support RAS implement economy-level investment policy reforms to improve the country’s investment competitiveness and help promote Serbia as an attractive destination for investors through an investment outreach campaign.
– The number of investors willing to enter the Serbian market is increasing. This project will help further develop RAS’s capabilities to attract the right kind of investment that will generate high-quality jobs in Serbia – said Rados Gazdic, director of the Development Agency of Serbia..
The press release says that foreign direct investment inflows into Serbia have grown since 2012, touching EUR 3.5 billion in 2019. The country is a premier investment location in Central and Eastern Europe.
Going forward, Serbia will need to increasingly attract higher-quality investments that help boost productivity and sustain economic growth levels.
– IFC is always ready to support our partner countries in their efforts to attract investors, better connect with neighboring countries, and improve the overall environment for commerce and business – said Thomas Lubeck, IFC Regional Manager for Central and Southeast Europe.
The advisory project will run until the end of 2020. It is part of a program implemented by IFC in partnership with the European Union, to encourage investment and cross-border trade in the Western Balkans and South-Eastern Europe.
The initiative complements a EUR 2.5 million program to prepare the economies of the Western Balkans for EU accession and to support economic development in South-Eastern Europe.
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