Ferrara: Serbia good for investment

Ferrara: Serbia good for investment

The Fiat company has recognized Serbia as one of the best investment destinations, but it is necessary to take another set of steps for further improvement in the investment climate, Fiat Automobiles of Serbia (FAS) CEO Antonio Cesare Ferrara said on Friday.

At a regional investment summit in Arandjelovac, Ferrara said that Serbia has achieved certain results in that field in the last year.

Fiat decided to invest in Serbia for a number of reasons, such as the strategic position, diligent, highly skilled and educated workforce, Ferrara said, noting that Fiat became a constituent part of the Serbian society, so the cooperation with Zastava, the former car maker, is developing to the mutual benefit.

Until the end of August, FAS delivered to buyers abroad cars worth EUR 890 million in total, so it has been forecast that at the end of the year, it will hold the top position on the list of largest exporters in Serbia by even wider margin.

However, Ferrara noted that it is necessary to cut the red tape, simplify procedures for getting building permits, finalize the restructuring processes in public enterprises, and invest further in the development of infrastructure.

He noted that, for example, due to incomplete road infrastructure, that company needs eight instead of the planned three days and two times more money for obtaining necessary materials from the EU.

Ferrara also said that investors have to count on stable prices of energy-generating products.