Privatization process in Serbia to end by the end of year 2007

Minister of Economy and Privatization of Serbia, Predrag Bubalo, stated that the privatization of public companies in the Republic would be ended in 2007, in accordance with the Law.

At the Entrepreneurial Fair, which was organized by the Democracy Party of Serbia at the Novi SAd fairgrounds, Bubalo said that certain State-owned companies would be privatized "sooner", whereas the privatization of the others would take place "later".

Minister pointed out that 100m EUR would be set aside for the development of small and mid-sized enterprises in Serbia in 2006 and he announced founding of the National Fund for Initial Capital whose aim would be to provide support to the founding of new enterprises.