Diaspora invested only EUR 500 million in Serbia since 2000 - Development bank necessary for bigger investments

The Serbian Diaspora includes between 4.5 and 5.5 million people, dispersed in numerous western countries. They could represent an important financial resource of Serbia because of their number, but the estimates say that the total investments of our emigrants in Serbia since 2000 amount to only EUR 500 million. When we know that Serbia is among top ten countries in the world in the value of received money orders (when compared to GDP), the intention to use this resource as much as possible becomes quite clear.

David Djumic, author of the book "Economic Recovery of Serbia through Investment by Diaspora", says in an interview for eKapija that the engagement of the diaspora for the sake of economic development should be one of the most important goals of the country.

- For a comprehensive exploitation of economic potentials of the diaspora, it is necessary to set up a development bank, of which owners and managers would be our emigrants. It would be granting funds for investment projects in Serbia. In that way, all economic potentials of our country would be used and a permanent link would be established between our diaspora and the mother country – says Djumic.

The reason why investments from the diaspora are so small is the same as for all other investors - inefficient bureaucracy, trade barriers, omnipresent corruption.

- Serbia's potentials are huge. Investors should, primarily, concentrate on the agricultural sector, as well as on energy and recycling. Agricultural opportunities are really great – and the diaspora may serve as a bridge for the production and easier exports to western markets. As far as energy is concerned, Serbia has about 900 confirmed sites suitable for the construction of small hydroelectric power plants and, in spite of that, our country risks to become a net importer of electricity. A project I suggest is the general recovery of Serbia, which would, with the knowledge and financial support of our people abroad, lead to a new investment momentum, creation of new jobs, and progress in underdeveloped areas.

Djumic's plan is presented in the book "Economic Recovery of Serbia through Investment by Diaspora". The book is divided into chapters focusing on the investment domains of special significance to our country - agriculture, mining, tourism, energy, recycling, the Sava amphitheater, and the Serbian development bank.

- We must learn from positive examples of Poland, Romania, Hungary, and Israel in particular. For these countries, cooperation with their huge communities world wide is one of priorities. Our diaspora lacks an expression of doubtless support from the government in order to be more active in the economy of Serbia. If that changes, our country will get a significant investment momentum.

Serbian development bank

David Djumic

Serbian Diaspora

diaspora

Economic Recovery of Serbia through Investment by Diaspora

development bank

emigrants