Invest-in-Serbia: Private FDI Information, Strategic communication and Consulting Service for SEE, Custom Analysis and Reports

BELGRADE – In the centre of Belgrade, there are few empty properties and many issues with ownership, which is why New Belgrade has become very attractive to investors and international corporations.

A business centre is being planned on the site where the old New Belgrade airport used to be, a project which represents not only the biggest property investment in Belgrade, but in all of Serbia. The Airport City Belgrade company will, in the next several years, invest 120 million euros in the complex which will include office space, cafes, shops, plenty of surrounding greenery and landscaping, along with everything else that is needed to create a positive, comfortable business atmosphere.

Exclusively Serbian construction companies will be hired to build the complex. Investors all have one complaint, which is the long and expensive procedure.

“The procedure is expensive, complicated, and unclear to us and requires a lot of energy. In order to take care of this problem we must contact various officials and branches since there is no central access, something that is necessary for all foreign investors.” said Airport City Belgrade Director Gili Dekel.

Pini Cohen, Africa Israel company director, who are co-owners of Airport City, said that he has thought about investing in other Serbian cities, but said that the bureaucracy and red tape involved has made him question the decision he made four years ago to come to Serbia.

“Our decision was good at the time, but then we did not expect so much bureaucracy. We asked the Government what our options were, at least as an international company such as we are, in order to make our business more effective and minimize the procedures.” Cohen said.

New Belgrade Municipal President Zeljko Ozegovic said that the problem of bureaucracy cannot be solved by the municipal government alone. He said that it is most important for all of the institutions to meet with all of the foreign business people and discuss ways to minimize the paperwork and procedures. He said that Belgrade does not have a strategic plan for business development.

“A team who will decide on what direction Belgrade needs to move in has just now been assembled. Therefore, foreigners came here beforehand and began building on their own, and had no finished plan or needed support, because everything they build, must stay in Serbia.” Ozegovic told B92.

Source: B92