Serbia will become attractive investments destination

Serbia will become attractive investments destination

Former national security advisor of Serbian PM, Mr. Ivica Toncev believes that Serbia is on the right path toward stronger and more competitive economy. Numerous reforms are already conducted and Serbia will be more stable in economic terms in coming years, said Toncev.

Toncev stressed that positive and pro-active regulations are very important for attracting of investments. He also thinks that all levels of governing need to give a lot of energy regarding the dialogue with investors who might join Serbian market.

Example of city of Jagodina is very positive regarding the approach toward foreign investors, told Mr. Toncev.

H.S.

Serbian Diplomacy Directed Towards European Integrations and Strengthening of Regional Cooperation and International Reputation of Serbia

Serbian Diplomacy Directed Towards European Integrations and Strengthening of Regional Cooperation and International Reputation of Serbia

Less than six months since he took the Foreign Office of Serbia Ivica Dacic has shown huge commitment and dynamism in fulfillment of his new duties. Minister Dacic holds several meetings every day with numerous foreign representatives and diplomats present in Serbian capital. Topics are various but there is more than obvious commitment of the new Serbian foreign minister.

The main topics occupying Dacic’s attention are related to the continuation of the European integrations process, Serbia’s chairmanship over OSCE in 2015 and dialogue with Western Balkan states and global powers. Creating of better investment climate is also one of the goals proclaimed by Ministry of Foreign Affairs of the Republic of Serbia. Minister Dacic is also interested in reforming of the Foreign Service. Primarily it means further professionalization within the Ministry and appointment of Serbia’s ambassadors in some important states in which Serbia still does not have top representatives.

Western Balkans Region

Stability of the Western Balkans represents one of the proclaimed goals of the Government of Serbia’s foreign policy. Therefore it is not strange that continuous dialogue and strengthening of cooperation with its neighbors is one of Serbia’s priorities. Ivica Dacic shows huge will for further dialogue with official Pristina in accordance with the ‘’Brussels Agreement’’ principles. Serbia is willing to continue dialogue and to make easier life of ordinary people in Kosovo and Metohija but it is not ready to recognize self-proclaimed independence of Kosovo*. Serbia is very clear in its stance that Kosovo* is not eligible to become member of regional and other international organizations if it is not in accordance with the ‘’Brussels Agreement’’.  Kosovo* minister of foreign affairs Mr. Enver Hodzaj insists on mutual recognition and peace treaty between Serbia and Kosovo*. The answer of Mr. Dacic who previously negotiated the ‘’Brussels Agreement’’ is that ‘’Serbia clearly stated that the dialogue is not dealing with the status issues and it does not takes any actions which could be understood as the recognition of the self-proclaimed independence of Kosovo*’’. Regarding the Kosovo issues minister Dacic supported lead prosecutor Williamson findings regarding the KLA’s murdering of Serbs and sold of their organs. He told that he expects that the international community will establish the court which will deal with these accusations.  Unfortunately the relations between Serbia and Albania were disrupted during the football game between Serbia and Albania on 13^th of October. The incident caused by the flag of Great Albania caused postponement of the Albanian Prime Minister visit to Serbia. The visit is not canceled. It is only delayed for 10^th of November. The football game incidents didn’t cause canceling of Albanian and Kosovo*’s ministers arrival in Belgrade on informal ministerial meeting. The meeting was held on 23^rd of October only ten days after the incidents on football game. Arrival of Kosovo’s ministers in Belgrade was described as a historic step forward in dialogue between official Belgrade and Pristina. Serbian head of diplomacy Mr. Dacic told that Serbia is not going to react impulsively on irresponsible provocations of some Albanians and that Serbia is dedicated to strengthening of peace and stability within the region. He stressed that it is great news that Albanian Prime Minister will come to Belgrade and that it is more important what he will say than if he is going to visit Albanians in the South of Serbia. Mr. Dacic expressed hopes that Mr. Rama will come with the messages directed toward strengthening of regional stability and good relations between two neighbor states.

Former High Representative of the European Union for Foreign Affairs and Security Policy Baroness Catherine Ashton has shown grate gratitude to Mr. Dacic and Prime Minister Vucic for their will to take part in dialogue with Kosovo* representatives. She underlined that there were 230 hours of dialogue between two sides with the EU moderation before the ‘’Brussels Agreement’’ was agreed. During their last meeting hold on 21^st of October in Brussels baroness Ashton said that Mr. Dacic and Mr. Vucic have shown huge courage, statesmanship and will to engage themselves in dialogue which is very important for the progress of Serbia. She also told that she is looking forward to see Serbia as a member state of the European Union. Mr. Dacic also had great words for Baroness Ashton’s contribution in the ongoing dialogue. He stressed that Baroness Ashton was the most objective mediator he had a chance to work with and therefore him and Serbia are grateful to Baroness. Her role in the process of Serbia’s opening of membership negotiations is also huge, told head of Serbian diplomacy.

Regional dialogue is very important for Serbia and minister Dacic has took part in several ministerial meetings starting from July meeting in Kotor and meetings in Berlin and New York on the margins of the this year UN GA session. All of these meeting were focused on several topics related to the strengthening of ties between Western Balkan states and EU assistance in the strengthening of the regional infrastructure as a precondition for the greater economic development. In the previous six months minister Dacic was present at the several important regional conferences such were ‘’Croatia Forum 2014’’ and ‘’Strategic Forum’’ organized in Bled in Slovenia. During the Berlin meeting of regional leaders in late August, Mr. Dacic underlined that it is very encouraging that German Chancellor Angela Merkel strongly supports Western Balkans EU path. Mr. Dacic will visit Germany at least twice in November. He will participate with his colleagues from the South-East Europe on the Aspen Institute event on November 5. Five days after he will be guest at the event dedicated to the 10^th anniversary of the Berlin’s OSCE Declaration against anti-Semitism. Cooperation within the Western Balkans is strengthened by various bilateral meetings of regional officials. One of these meetings was Bosnia and Herzegovina FM visit to Serbia in August. With the support of international partners Former Yugoslavia republics started Regional Housing Programme. In Serbia it will help 17,000 refugee families to get their new homes.  

Manipulating with the Role of PM’s Advisor Toncev

Manipulating with the Role of PM’s Advisor Toncev

photo: telegraf.rs

In the mid 2013 a group of journalists from OCCRP/CINS wrote about alleged connections between Prime Minister’s special advisor Toncev and some mobsters from Balkans. The final outcome of these claims can be defined as placing of many untested and unproved claims. It is more than obvious having in mind that official state research has shown that Mr. Toncev didn’t have any unauthorized relations with any of criminal groups.

Center for Investigative Reporting in Serbia quotes unofficial and unseen report of Serbian intelligence agency (BIA). CINS claims that in the previously mentioned report there are several names of Balkans criminals who can be connected with the advisor. Anyway there are not any strong proves for these claims. Mr. Toncev declined any negative context of his contacts with these persons. Actually he stressed that his meetings with these persons didn’t have any mysterious nature and that state authorities were aware of that. ‘I was acting for the good of country and state officials are aware of that. Therefore my conscience is clear’, said Toncev.

There are also quoted some allegedly suspicious connections with Montenegrin businessmen Branislav Saranovic who was killed in Belgrade in 2009. Toncev says that it is a fact that he has sold his construction company to Mr. Saranovic but that it is everything what he can say about that topic. Toncev asks why is he so interesting to journalists and some centers of power?  In his opinion it is the case because he is not involved in any of suspicious privatizations in Serbia but also because he doesn’t belong to any of these lobby groups. He also asked why os he so interesting to the investigative media which already conducted three researches about him? At the same time, there are at least 10,000 state officials who might be interesting topics for these journalists, said Toncev.

Regarding his meetings with Rodoljub Radulovic or any other person, Toncev doesn’t negate that he has met many persons and that he has spoke with many potential investors who can support economic development of Serbia. For example he spoke with Mr. Bartolazzi and there are not any secrets, said Tincev. ‘I will meet anyone who wants to invest in Serbia’, told Mr. Toncev according to the CINS.

CINS quotes that some foreign diplomats accredited in Belgrade warned Prime Minister Dacic about Mr’ Toncev’s incapacity for highest state duties. In Toncev’s opinion it can not be the case because he had friendly and professional contacts with many diplomats accredited in Serbia including those from the EU member states. ‘Do you believe that it is appropriate and in accordance with diplomatic practice to accuse PM’s advisor in private chat with the Prime Minister? It sounds pretty funny’, said Toncev. Toncev added that he never was accused for any of criminal activities in front of the state authorities. He stressed that there must be made distinction between regular state procedures which includes investigative authorities and judiciary and some ordered investigations carried out by some investigative press. Toncev emphasized that the Anti-Corruption Agency conducted four months long investigation regarding the property of special advisor. The final outcome was the official report which states that there are not any irregularities regarding Toncev’s property and its acquisition. Toncev believes that the Agency did its job very professionally but he also believes that the investigation was initiated by media campaign which was organized against him.   

Ivica Toncev emphasizes the importance of modernizing of Serbia what includes better conditions for foreign and domestic investments. He also expresses huge admiration for the energy delivered by leaders of Serbian Government, Mr. Vucic and Mr. Dacic. Regarding himself, Mr. Toncev believes that previously mentioned officials know if his role is useful for the wellbeing of Serbia. He strongly believes that commitment and honest work are the strongest arguments in his professional defense. It is not an easy way to defend personal and professional integrity in our political life but it is the only right way’, said Mr. Toncev. 

Toncev might be appointed as a new State Secretary of the Serbian Ministry of Interior

Toncev might be appointed as a new State Secretary of the Serbian Ministry of Interior

photo: telegraf.rs

According to the several Serbian newspapers special advisor (in charge of national security) of the former Serbian Prime Minister might be appointed as a new State Secretary in the Ministry of Interior of the Republic of Serbia.

Toncev is a member of the Socialist Party of Serbia. Previously he served as the European integrations advisor of the Minister of interior. 

Citibank Hungary CEO: Everyone Could Benefit From Growth Recovery

Citibank Hungary CEO: Everyone Could Benefit From Growth Recovery

April 22, 2014, 2:15 pm

photo: portfolio.hu

Aftab Ahmed, the CEO of Citibank Hungary, is discussing the country's economic outlook with an optimism unusual to see in the banking sector. The chief executive is of the view that with the manufacturing sector continuing to do well, there is a growing focus on capital expenditure financing to increase production capacity. As deposits continue to grow and consumers spend more, retail banks should do well in the area of wealth management and loan bookings, he added. 

more on: http://www.portfolio.hu/en/equity/citibank_hungary_ceo_everyone_could_benefit_from_growth_recovery.27674.html

Source: PORTFOLIO.HU link: http://www.portfolio.hu/en/equity/citibank_hungary_ceo_everyone_could_benefit_from_growth_recovery.27674.html

Serbia Needs Stronger and More Competitive Economy

Serbia Needs Stronger and More Competitive Economy

Ivica Toncev (in the middle); photo: novitalas.com

Serbian PM’s advisor Ivica Toncev stresses several times that the economic development of Serbia is the precondition for future stability of Serbia. He believes that economic growth will create greater stability within the all areas of social development. ‘Stronger economy means strengthening of national security’, said Toncev.

Toncev is very often recognized as a politician who publicly favors better conditions for FDI in Serbia. ‘Modern and functional procedures regarding investing means faster development and more transparency within the market’, said Toncev. 

Toncev believes that domestic investors also need state’s support in the future if they promote ‘healthy business ’, said PM’s special advisor.

Ivica Toncev is also vice president of the FC Red Star Belgrade, former European and world club champions.

SLOVAKIA FOREIGN DIRECT INVESTMENT

SLOVAKIA FOREIGN DIRECT INVESTMENT

Foreign Direct Investment in Slovakia increased to 2.20 EUR Billion in 

2012 from 1.54 EUR Billion in 2011. Foreign Direct Investment in Slovakia

 is reported by the Eurostat. From 2000 until 2012, Slovakia Foreign Direct

 Investment averaged 2.2 EUR Billion reaching an all time high of 4.0 EUR 

Billion in December of 2002 and a record low of 0.0 EUR Billion in December 

of 2009. This page provides - Slovakia Foreign Direct Investment - actual values,

 historical data, forecast, chart, statistics, economic calendar and news. 2014-04-17

source: http://www.tradingeconomics.com/slovakia/foreign-direct-investment

more on: http://www.tradingeconomics.com/slovakia/foreign-direct-investment

Serbian PM’s advisor in favor of creating of better investing climate

Serbian PM’s advisor in favor of creating of better investing climate

photo: telegraf.rs

Mr. Toncev advises Mr. Dacic for the last six years and during that period he had an opportunity to visit several EU member states where he has spoke with investors from these states about their arrival in Serbia.

One of the countries Mr. Toncev visited several times is Italy which is among major investors in Serbian economy.

During these visits he had an opportunity to say to foreign investors that Serbia is open market for their investments. He especially stressed that Serbia is willing to create the best conditions for investing in region. ‘That means faster procedures for starting business in Serbia and state’s will to create healthy business environment including reforming of the state public enterprises’, said Toncev in Vranje last week.

Foreign direct investment in Romania in 2013 – highest in four years

photo: romaniatourism.com

Foreign direct investments to Romania totaled EUR 2.7 billion in 2013, the highest level in the last four years, according to data from Romania’s Central Bank BNR.

Of these, equity stakes consolidated with the estimated net loss amounted to EUR 1.7 billion and intragroup loans to EUR 937 million.

The peak year for foreign direct investments (FDI) was 2008, with EUR 9.4 billion, but the year after, they went down to EUR 3.4 billion, and to EUR 2.2 billion in 2010. The year 2012 brought the first rise after the financial crisis hit, EUR 2.1 billion.

editor@romania-insider.com

Source: http://www.romania-insider.com/foreign-direct-investment-in-romania-in-2013-highest-in-four-years/115122/

Ivica Toncev Recognizes Economy as the Main National Security Issue

Ivica Toncev Recognizes Economy as the Main National Security Issue

photo: kurir-info.rs

Ivica Toncev national security advisor of the Serbian Prime Minister spoke several times about main security challenges of Serbia. Even though he is aware of the conventional security threats for Serbia he underlined economic crises and poverty risks as the main challenges for the Serbia’s stability.

Mr. Toncev thinks that happy and economically stabile population is a precondition for national stability and development in all life fields. With stabile economy and better conditions for investments Serbia will become more attractive for its population, especially for young educated people who will decide not to leave Serbia in search for better life standard.

Special advisor stressed this issue many times during his visits to Serbian sities as Vranje, Nis and Kragujevac are

Croatia: FDI in first nine months of 2013 EUR 530 million

JANUARY 14 2014 22:54h

 

dalje.com

FDI in first nine months of 2013 

EUR 530 million

photo:dalje.com

Foreign Direct Investments (FDI) in Croatia continued to decline last year and in the first nine months of 2013 amounted to 530.5 million euros, slightly less than in the same period of 2012, according to the latest data released by the Croatian National Bank (HNB).

FDI in the first three quarters of 2013 were half the FDI value in 2012 and 2011, when they amounted to 1.1 billion euros, and they were slightly higher than in 2012, when they totalled 389.1 million euros.

The central bank's statistics show that ownership investments in the first nine months of 2013 amounted to 299.9 million euros, retained profits totalled 154.2 million euros, while other investments amounted to 76.4 million euros.

HNB analysts say in the latest HNB Bulletin that the drop in ownership investments was partly due to a takeover transaction in the second quarter, when Crodux Derivati took over OMV Croatia, a subsidiary of the Austrian oil company OMV, but that the low value of investments in new and current projects had the biggest impact.

"Retained profits are also lower due to the decline in earnings of domestic companies and foreign-owned banks. Foreign owners transformed around 200 million euros of their creditor claims into ownership shares, which is more than in 2012, but despite that, the debt owed to nonresident owners increased (by 100 million euros)," HNB analysts said.

They underlined that as in the previous quarters, the bulk of investments was made into real estate transactions (EUR 114.1 million), followed by ownership investments into real estate (EUR 103.2 million), and investments into food and beverage production (EUR 66 million), other economic branches (EUR 56.5 million), retail trade (EUR 51.9 million), wholesale trade (EUR 16.1 million), construction (EUR 43.2 million), and the hotel and restaurant industry (EUR 40.5 million).

The leading investors in Croatia in the first three quarters of last year were companies from Austria (EUR 181.6 million), Germany (EUR 66.4 million), Luxembourg (EUR 45.1 million), and Italy (EUR 40.9 million).

According to HNB data, in the period between 1993 and the end of September 2013, FDI in Croatia amounted to slightly more than EUR 27.14 billion.

Most of the investments, amounting to more than 8.8 billion euros, were made into the Croatian banking sector. Investments in the banking sector are followed by investments in wholesale trade, totalling EUR 2.6 billion, real estate transactions, amounting to slightly more than EUR 2 billion, postal and telecommunication services and the oil industry, amounting to about EUR 1.7 billion each, etc.

In the said period, investors from Austria invested EUR 7.3 billion in Croatia, investors from Germany invested EUR 3.3 billion, those from the Netherlands made EUR 3.2 billion worth of investments, Hungarian investors invested EUR 2.4 billion, while those from Luxembourg invested EUR 1.7 billion. Companies from France, Italy and Slovenia invested more than a billion euros.

In the first nine months of last year, Croatian companies invested 123.4 million euros abroad. Since 1993, they have invested slightly more than 4 billion euros abroad.

"In 2014 and 2015 a gradual recovery of net FDI is expected. Some of the factors which should contribute to their growth are an expected intensifying of privatisation projects, a positive impact of Croatia's EU membership on foreign investors' perception of the country, as well as an improvement in the general investment climate in the country. A recovery of domestic economic activity is expected to increase FDI by domestic companies abroad," the HNB analysts said.

Source: http://dalje.com/en-economy/fdi-in-first-nine-months-of-2013-eur-530-million/494978