State terminated contracts with 60 investors

The minister of trade, Zeljko Sertic, says the state terminated contracts with 60 investors since they did not fulfil defined terms and that almost 273 contract were signed.

- It is important that all people applying for incentive do not see it as a gift from the state. No, the state is providing support for the company to develop and move forward. Risk is up to the company, management and employees – Sertic outlined.

The minister says that 70 companies more have been in the check process through the National Employment Bureau to check whether defined headcount was employed and whether investment program was fulfilled and that he expects very soon results of these controls.

Sertic also said that new Law on investments will completely equal local and foreign investors and mentioned that previously there was an option and practice that local firms get funds and that a number of them got them.

However, as he says, the problem is guarantee since there must be a company’s guarantee for the funds received from the budget.

On the other hand, he outlines, other kinds of support are provided for small companies which will be in line with their strength and where they will be able to count not only on banking funds at interest rates.

He also outlined the importance of reactivated Fund for development last year through which more than RSD 26 billion was launched.