MIHAJLOVIC: Law on planning and construction by the end of November

(Zorana Mihajlovic) Vice President of the Government of Serbia and the minister of traffic, Zorana Mihajlovic, announced that the new law on planning and construction will be ready for adoption by the end of November. At the meeting of the Austrian businessmen which the Embassy of Austria organized last night in Belgrade, she said the law should enable obtaining of construction permits in 28 days and that more favorable environment for arrival and investments of foreign companies will be created.

Upon her addressing the Austrian businessmen, Mihajlovic said economic relations of Serbia and Austria are getting better year in year out and that in the first five months this year Serbia increased export to Austria for almost 17% compared to the same period last year and decreased export by 4%.

- Total investments of Austrian companies in Serbia were some USD 3 billon and the state is the first ranked when it comes to total sum of investments in our country since 2000 – Mihajlovic outlined.

The largest sum of investments from Austria was in 2007 when a billion dollars was poured to Serbia.

In her talks with Austrian businessmen, Mihajlovic outlined that Serbia has many Austrian investors, from energy, telecommunications, banking, insurance, trading, and reminded that the two countries have signed 10 bilateral agreements so far which enables certain benefits when they invest in Serbia to every Austrian company.