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Serbia Investment Day – Bringing New Investors to Serbia

October 29, 2013, London –”The Government of Serbia has recognized the key issues in business environment and made significant efforts to attract foreign investors in the past period”, said Ove Fredheim, Telenor Serbia CEO during Serbia Investment Day conference organized today in London.

More than 270 potential investors from EU took part in the conference in London organized under the patronage of Prime Minister Ivica Dacic the Government of the Republic of Serbia.

Ove Fredheim, Telenor Serbia CEO participated in the session “Why global businesses are investing in Serbia“, presenting the Serbian telecommunication market from the perspective of the single largest investor.

“The greatest progress has been achieved in public procurement, trade and tax, and in the field of IT industry. Now, it is time to start serious and devoted reforms utilizing the upcoming EU negotiation process. Upgrading business climate and reducing administrative barriers through continuous consultations with the key stakeholders should create more predictable, transparent and competitive business environment“, added Fredheim.
 
Talking about telecommunication market, Fredheim stated that this sector’s contribution to country’s GDP in 2012 was 5.52% to. Mobile phone penetration is 126% and Internet penetration is 70%. At the end of 2012, the Government adopted the Action plan for the two-year period 2013-2014 that specifies in detail the implementation of the Electronic Communications Development Strategy until 2020, which is a positive step forward.
 
Fredheim underlined several important regulatory developments in the telecommunication sector that are expected in the next period. “Spectrum tender is expected by the end of this year and fixed number portability is planned for March 2014. Continued process of reducing bureaucratic barriers should further improve regulatory framework, whereas the introduction of additional sector-specific taxes is not expected”, concluded Fredheim.