Doing Business With Serbia (global Market Briefings)

1-905050-14-3_FM_i_02/20/2006 Doing Business with Serbia Second Edition 1-905050-14-3_FM_ii_02/20/2006 1-905050-14-3_FM_iii_02/20/2006 GLOBAL MARKET BRIEFINGS Doing Business with Serbia Second Edition Consultant Editor: Dr Marat Terterov GMB GMB Publishing Limited Publisher’s note Every possible effort has been made to ensure that the information contained in this publication is accurate at the time of going to press and neither the publishers nor any of the authors, editors, contributors or sponsors can accept responsibility for any errors or omissions, however caused. No responsibility for loss or damage occasioned to any person acting, or refraining from action, as a result of the material in this publication can be accepted by the editors, authors, the publisher or any of the contributors or sponsors. Users and readers of this publication may copy or download portions of the material herein for personal use, and may include portions of this material in internal reports and/or reports to customers, and on an occasional and infrequent basis individual articles from the material, provided that such articles (or portions of articles) are attributed to this publication by name, the individual contributor of the portion used and GMB Publishing Ltd. Users and readers of this publication shall not reproduce, distribute, display, sell, publish, broadcast, repurpose, or circulate the material to any third party, or create new collective works for resale or for redistribution to servers or lists, or reuse any copyrighted component of this work in other works, without the prior written permission of GMB Publishing Ltd. GMB Publishing Ltd. 120 Pentonville Road London N1 9JN United Kingdom www.globalmarketbriefings.com This edition first published 2006 by GMB Publishing Ltd. © GMB Publishing Ltd. and contributors Hardcopy ISBN 1-905050-14-3 E-book ISBN 1-905050-68-2 British Library Cataloguing in Publication Data A CIP record for this book is available from the British Library Library of Congress Cataloging-in Publication Data Doing business with Serbia/consultant editor Marat Terterov.– 2nd ed. p. cm. Includes index. ISBN 1-905050-14-3 1. Serbia–Commerce. 2. Serbia–Economic conditions. 3. Investments, Foreign–Serbia 4. Commercial law–Serbia. I. Title: Doing business with Serbia. II. Terterov, Marat. HF3732.5.D657 2006 330.94971–dc22 2005037397 1-905050-14-3_FM_v_02/20/2006 Contents Foreword Jasna Matic, Director, Serbia Investment and Export Promotion Agency (SIEPA) ix Foreword Miodrag Djordjevic, Director, Privatization Agency, Republic of Serbia xi List of Contributors xiii Map 1: Serbia and Montenegro and Their Neighbours xxiii Map 2: Infrastructure of Serbia xxiv Map 3: Infrastructure of Montenegro xxv Part One: Background to the Market 1.1 1.2 1.3 Serbia: Country Profile Slobodan Markovich, Institute for European Studies, Belgrade Economic Overview Jelena Galic, Executive Director, Economics Institute, Belgrade Serbian Business Culture Galjina Ognjanov, Faculty of Economics, Belgrade University 3 13 31 Part Two: Financial Markets and the Investment Environment 2.1 2.2 2.3 2.4 The Investment Climate Mike Ahern, President, Foreign Investors Council of Serbia and Montenegro Foreign Trade and Investment SIEPA Administrative Barriers to Entry Nikola Fabris, Faculty of Economics and The Economics Institute, Belgrade The Role of the Privatizaton Agency in Serbian Privatization Activity The Serbian Privatization Agency 41 47 63 77 1-905050-14-3_FM_vi_02/20/2006 vi 2.5 2.6 2.7 2