Foreign Investors Council Presented its White Book for 2019

The Foreign Investors Council presented its White Book, the issue for 2019 to the government representatives, stakeholders and the business community. White Book notes that when it comes to the capital market trends, certain progress has been achieved. 

The adoption of the Law on Alternative Investment Funds and the Law on Open-End Investment Funds with a Public Offering is commended. "The Law on Alternative Investment Funds (which is based on the relevant EU legislation) sets out a new type of more “flexible” funds – venture capital funds and private equity funds that should positively affect micro, small and medium enterprises especially in innovative business areas."

They have noted the readiness of competent authorities, especially the Securities Commission, the Central Securities Depository and Clearing House (CSD) and the NBS, to enable the further growth of the capital market in Serbia by adopting the required bylaws and issuing relevant opinions. They especially commended the Securities Commission for inviting a discussion on the regulation of cryptoasset rights in Serbia in March 2019. FIC points out to the remaining legislative issues in the area and gives recommendations what should be improved.

Published yearly since 2003, White Book is a proclamation of the private sector on the business climate in Serbia, a practical set of recommendations to the authorities. Its goal is to enable removing unneeded barriers and make doing business in Serbia easier, thus enabling better inflow of investments. It draws attention to the issues FIC sees as priorities to be addressed as priorities for the future economic development of Serbia.