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STRONG SUPPORT OF LOCAL GOVERNMENTS NEEDED: Diaspora investments – an opportunity for economic growth

Aroj by Aroj
November 26, 2021
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STRONG SUPPORT OF LOCAL GOVERNMENTS NEEDED: Diaspora investments - an opportunity for economic growth
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The ONLINE platform of the Serbian Chamber of Commerce “Business Atlas of Serbia and the Diaspora” is intended to connect our people who live and do business in Germany, Austria and Switzerland and businessmen from Serbia.

STRONG SUPPORT OF LOCAL GOVERNMENTS NEEDED: Diaspora investments - an opportunity for economic growth

Baby food factory in Kruševac – “Flori”, Photo by PKS

Our businessmen who live and work abroad and who have successfully started production in Serbia point out that return and investment require persistence, presence in the field, knowledge of the market and strong local support.

Miroljub Radoicic, owner of CNC Metali from Stari Trstenik, who has been working and living on the Germany-Serbia route since 2000, points out that the formation of this platform is a good start for attracting investors from abroad, but that work still needs to be done to develop support.

“When I decided to go to Germany 25 years ago, I knew I wanted to go back and do something in Serbia. With great sacrifices and the help of German partners, we started the production of fireplaces. A few years ago, we exported the entire product range to the German market “, says Radoičić.

VFD Photo

The value of his company’s exports, which employ 20 workers, has reached 1.3m euros since the beginning of this year.

There are 160 households in his village. However, 70 percent of residents have been working abroad for decades. In order for the third, young generation of diasporas to even think about living and investing in Serbia, they need to have all the information about the market and administrative procedures, but also support on the ground from the local self-government.

After living in Russia, Rade Milosevic returned to Serbia and opened a baby food factory in Krusevac – “Flora”.

“The opening of the baby food factory was a connection with my basic profession in medicine. It is completely normal to invest in one’s own country, and we used the connections acquired in Russia and abroad to expand our business, “Milosevic states.

The Chamber of Commerce of Serbia wants to be a support to find a way to redirect a part of the funds from remittances to starting new businesses and creating jobs through concrete activities. Through investments, the diaspora would be additionally and more strongly connected with Serbia, says Djordje Andrić, the head of the Investment and Public-Private Partnership Service of PKS.

VFD Photo

Project database

The PLATFORM offers a database of specific investment projects, through which anyone interested will be able to offer and search for specific projects in cities and municipalities in Serbia.

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Tags: DIASPORAeconomicgovernmentsgrowthInvestmentsLOCALNEEDEDopportunitystrongsupport
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