Coin: Increase in investments requires thorough reforms

BELGRADE - President of the Board of Directors of the Foreign Investors Council Frederic Coin said on Thursday the Serbian government had to conduct thorough reforms to improve the business environment in the country and attract more investments.

"Foreign investors expect a lot from this government. It has strong support within the parliament and the capability to implement reforms," he noted, adding that the compsition of the government and strong commitment to reforms inspired hope that they would be conducted indeed.

There has been certain progress this year, but no significant improvement to the business environment in Serbia, he said at the 4th Reality Check Conference.

According to Coin, poor implementation of laws remains the key issue with business in Serbia, while there has been progress in terms of taxes, illegal trade, telecommunications, agriculture and insurance.

He stresses that five areas should be prioritised, and they are: the creation of a legal framework that follows the EU standards, a consistent tax system, more flexible labour market, simplified regulations that refer to realties and construction and an efficient system of market supervision.

Investors support the labour bill, as well as the announced laws on bankruptcy and privatisation, which will improve the business environment in Serbia, he remarked.

The Foreign Investors Council has collected RSD 8 billion as aid for repairing the damage caused by the recent floods in Serbia, Coin pointed out.

Screenshot video Tanjug

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