Michel: Despite geopolitical crisis, Serbia has become great place to invest in

BELGRADE - Despite the geopolitical crisis, Serbia has become a great place to invest in, Foreign Investors Council (FIC) President Mike Michel said at the presentation of the FIC White Book 2024 on Friday.

"The past year has been challenging, and we recognise that geopolitical crises, especially in Europe, have disrupted supply chains and affected the investment ecosystem," Michel said.

"However, for us as investors, Serbia is a great place to invest, drawing in around 4.5 bln (euros) in FDI in 2023. The largest share of FDI comes from the EU," he said.

"EU membership remains a priority, especially since the EU remains Serbia's most important trading partner. In 2023, Serbia's exports to the EU reached 18 bln, while imports from the EU were 23 billion, resulting in an import coverage ratio of roughly 80 pct," Michel said.

The FIC White Book is a snapshot of the business and investment climate in Serbia and provides comprehensive recommendations for its improvement.