Ireland a good model for Serbia in attracting foreign investment

Serbian Minister of Finance Mladjan Dinkic said today during his visit to Dublin that Serbia could learn a lot from Ireland in attracting foreign investment.

In a statement to the news agency Beta, Dinkic said that at the meeting with representatives of the Irish Ministry of Finance it was agreed upon that in order to make economic progress Serbia needs political consensus on the future of the country, as well as a good legal system and foreign direct investment.

He said that Ireland, owing to its national investment plan and employment strategy implemented in the same manner Serbia plans to do, has succeeded in reducing the unemployment rate from 20% to 4%, and has increased its GDP per head to $40,000.

Ireland rebalances the budget in a specific way unlike other countries, said Dinkic, and added that Serbia will also introduce a novelty regarding the planning of the state budget.

According to Dinkic, Ireland, which used to receive 40% of the funds it invested in infrastructure development from the EU, has become a net contributor to EU funds, and gives more than it receives from the EU.

He pointed out that Serbia will benefit from Ireland’s experience in attracting Greenfield investment and increasing employment in preparation of rebalancing the budget this year, imparted to him by Irish Minister of Finance Brian Cowen.

The talks were also attended by Director of the Serbian Investment Promotion Agency (SIEPA) Jasna Matic, State Secretary of the Ministry of Finance Vesna Arsic and Director of the Treasury Administration Vesna Dzinic.