INVEST IN SERBIA. Serbia Investment and Export Promotion Agency PRESENTATION RIGHTS RESERVED. COPYRIGHT SIEPA. YEAR 2014.

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1 Serbia Investment and Export Promotion Agency INVEST IN SERBIA

2 Serbia Investment and Export Promotion Agency New Government, Stable and Proactive New government determined to improve the business climate. Economic reforms, fiscal and budget consolidation. New set of laws including Lb Labor Law, Law on Bankruptcy, Law on Privatization. Support for investments, focus on new employment. On going EU accession negotiations, full membership expected in 2020.

3 About Serbia

4 Serbia Investment and Export Promotion Agency Source: National Bank of Serbia, Statistical Office of the Republic of Serbia Economyy Trends

5 p Serbia Investment and Export Promotion Agency Export and Import Source: Statistical Office of the Republic of Serbia

6 Success in Attracting FDI FDI stock since 2001 nearly 21 billion Source: National Bank of Serbia

7 Success in Attracting FDI 12,179 new jobs 63 new projects According to EY*, Serbia was one of Europe s favorite investment locations in CEE in The success continued in 2013 number of new jobs was up by 18%, placing Serbia on the 5th position in Europe, while 63 new projects made Serbia the second most attractive location in CEE, second only to Poland. * EY European Attractiveness Survey 2014

8 Key Investors EU countries dominate the FDI environment Source: SIEPA, 2014

9 Key Sectors Food, automotive and manufacturing are the most attractive sectors Source: SIEPA, 2014

10 Top Investment Sectors Automotive More than 1.6bn of FDI; Automotive products top export item, as of 2013; Tradition of over 70 years; Available, experienced, educated and competitively priced labor; Well developed infrastructure.

11 Top Investment Sectors Food 2 nd most atractive sector with over 2.7bn FDI; Excellent agricultural land opportunity for investments in primary production; Over 30% of world s raspberries grown in Serbia; Excellent position to cover SEE market; Excellent conditions to serve the Russian market.

12 Top Investment Sectors Clothing One of Serbia's top exporting sectors; FDI projects created more than 10,000 new jobs; Abundant supply of experienced labor; Salaries provide cost effective production; Available Brownfield locations.

13 Top Investment Sectors Electronics Strategic sector for Serbia; Long tradition stepped up by Siemens, Eaton, Panasonic, Gorenje, etc.; Development of innovation technology parks; Strong university centers in Belgrade, Nis and Novi Sad.

14 Why Invest in Serbia?

15 Commitment to Education Around 47,000 university and college graduates, and 75,000 high school graduates every year. Top quality technical education at both high school and university level. Over 100,000 registered unemployed hold either university or college degree. Strong command of the English language. Serbia was ranked 4 th out of 76 countries in Business English proficiency by BEI*. Young graduates speak other languages, primarily French, Italian, German, and Russian. This initiative demonstrates our confidence and trust in Serbia, its industry, management competence and the skill of its workers Sergio Marchionne, CEO *Business English Index, Source: Global English Corporation, 2012

16 Technical Education Centers Serbia Investment and Export Promotion Agency PRESENTATION RIGHTS RESERVED. COPYRIGHT SIEPA. YEAR

17 Serbia Investment and Export Promotion Agency European Union Free Trade Agreements EFTA CEFTA Turkey 0% import duties; 0% export duties Kazakhstan Russia Belorussia

18 Competitive Tax Environment Source: National IPA s 2014

19 Cost Effectiveness Across the Board Source: Cekos, Statistical Office of the Republic of Serbia, *June 2014

20 Low Operating Costs One of the most competitive locations in Europe, according to Eurostat. Among 37 European countries the lowest cost of electricity, gas, other fuels, postal services, landline telephony, fax service, and maintenance of motor vehicles costs. Serbian cities always on Financial Times list of the Most Cost Effective Cities of the Future. Source: Vienna Institute, 2014

21 Tax Credits Corporate Profit Tax 10 year tax holiday for investments over 8.5 milion, 100 new jobs; Tax credit 33% of the tax debt, total credit value 20% of the investment. Reduced Salary Load New employment entitles employers to a sizable relief of taxes and contributions paid on net salary from the moment of employment until June 30, new jobs: 65% reduction; new jobs: 70% reduction; 100+ new jobs: 75% reduction; This reduces the total salary load to very competitive 20%*. *an estimate for an average salary in Serbia.

22 Financial Serbia Investment and Export Promotion Agency Incentives 2014 *For SMEs, the approved incentives may be increased up to 70% or up to 60% of the total invested amount. **Minimum investment for devastated regions and for the 4 th group of local administration is 0.5 million EUR and 50 new, full time jobs created.

23 Serbia Investment and Export Promotion Agency Free Trade Zones Operation within designated free zones is VAT free and entitles to a tax return for exported goods.

24 Serbia Investment and Export Promotion Agency About SIEPA

25 SIEPA Locations Database The largest database of industrial and service locations in Serbia locations.rs

26 SIEPA Suppliers Database The largest database of the Serbian industry suppliers.rs

27 Serbia Investment and Export Promotion Agency Thank you for your attention! SERBIA INVESTMENT AND EXPORT PROMOTION AGENCY 3, Vlajkoviceva St Belgrade, Serbia Phone: Fax: E mail: office@siepa.gov.rs