Foreign investments in IT sector to be used wisely

Foreign investments in IT sector to be used wisely

Foreign direct investments in the information technology (IT) sector in Serbia are welcome, but they should be used wisely and to the benefit of the entire society, and not only the investors and a small number of employees, CEO at Vojvodina ICT Cluster Milan Solaja said on Monday.

The IT sector has lately attracted attention of the local public, but our key problem is the lack of long-term vision for its development and the lack of qualified personnel, Sertic pointed out, adding that the Vojvodina ICT Cluster, gathering 27 enterprises, offers assistance to the state in the creation of Serbia's IT strategy.

When it comes to foreign investments, it would be best to “combine funds from abroad with local experts, in a way that would benefit all of us,” Solaja told Tanjug.

Foreign direct investments in the form of recapitalization of local enterprises are welcome, as foreign companies would invest in joint development and improvement of existing capacities and products of local companies, he noted.

According to the EU data, during the ten years of investment in IT sector companies, their competitiveness and productivity was raised by as much as 50 percent.

“If this number reached 15 percent in Serbia, it would still be a drastic increase,” he noted, stressing that Serbia has the capacity and potential for the IT industry.