WE ARE INVESTIGATING Where do our largest investments come from? We receive as many millions from a European country as from CHINA AND AMERICA TOGETHER



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After a record inflow of foreign direct investment into Serbia in 2019 of € 3.8 billion, a significant inflow continued over the past year. Although there was a decrease due to the crisis of the crown, 2.9 billion euros, which was the amount of investments in 2020, it is undoubtedly a good result.

And although we somehow get the impression that the investments come mainly from the largest countries, the truth is still different. The annual balance has not yet been made, but according to data from the National Bank of Serbia, the Netherlands was the one that invested the most money in the first quarter of last year, 411.8 million euros, followed by China with Hong Kong, Taiwan and Macao, with 332.2 million euros.

Among the top 10 countries whose investors have invested money in our country are Germany with 214.2 million euros, Austria with 101.2 million euros, and the other six best placed have invested less than 100 million euros.

A surprise to the layman is probably the fact that the Dutch are on the list before the Chinese. At the same time, it may come as a surprise that the Russian Federation is only in eighth place on this list. Those in Malta are better than Russian investors.

A simple calculation also shows that we receive almost more investment from Austria than from America and Russia combined.

  • Holland – 411.8 million euros
  • China (including Hong Kong, Taiwan and Macao): € 332.2 million
  • Germany – € 214.2 million
  • Austria – 101.2
  • Great Britain – 94.2
  • SAD – 63.4
  • Malta – 60.1
  • Russian Federation – 47.4
  • Slovenia – 42.8
  • France – 38.5

* amounts to millions of euros

Photo: Oliver Bunić / RAS Serbia

The Central Bank highlights that the Netherlands is in first place, among other things, because some foreign investors due to tax exemptions, as well as one of the most liberal financial and banking systems that allows free trade of legal persons established to carry out certain Specific transactions, investments are made from subsidiaries in the Netherlands, although the parent company is based in another country.

“Among other things, in this way, the aforementioned legal entities (SPE) registered in the Netherlands also receive the treatment of investors from the European Union,” they point out from the NBS.

Whether this order will be maintained at an annual level is uncertain and will be seen when the summarized data is made. The truth is that the list of the top 10 foreign investors includes people from countries from different continents, which shows that Serbia has managed to attract companies from all over the world with its incentives.

The NBS notes that with the outbreak of the Covid-19 virus pandemic, both in the world and in most countries in the region, there has been a decrease in the inflow of foreign direct investment. However, the influx remained strong.

“Based on operational data, the inflow of foreign direct investment into Serbia in 2020 will certainly exceed last year’s projections and provide Serbia with a good basis for economic growth in 2021 and beyond,” states the NBS.

The steady growth of foreign investors’ interest in investments in Serbian export-oriented companies, even during the pandemic, is mainly the result of fully achieved and preserved macroeconomic, financial and fiscal stability, which is based on rate stability. exchange rate, concluded the central bank.



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