RADULOVIC: Ministry to do SIEPA's work for five times less money

(Sasa Radulovic)

The Serbian Investment and Export Promotion Agency (SIEPA) and the Agency for Licensing Bankruptcy Managers are going to be closed and all their obligations will be assumed by the Economy Ministry and the Privatization Agency, Economy Minister Sasa Radulovic announced Friday.

All the work that is now being done by the SIEPA will be done by the Economy Ministry for five times less money once the former ceases to exist, he told a press conference.

Part of the job of the Agency for Licensing Bankruptcy Managers will be done by the Privatization Agency, but the plan is to also establish a chamber of bankruptcy managers, he noted.

The minister also announced that the salary budget for all agencies and ministries would be reduced the next year, adding that there would be no employment incentives for investors any more.