Promoting the private sector in Serbia

Context

The Serbian economy must modernise. Serbia’s possible accession to the European Union, European environmental standards and digitalisation also require Serbian businesses to adapt.

Such changes are particularly difficult for micro, small and medium-sized enterprises (MSMEs). But changes are needed for Serbia to integrate into the European economic area and to prevent its population migrating abroad due of a lack of domestic employment.

Objective

Serbian MSMEs are becoming more competitive and innovative as well as recruiting new employees.

Approach

To support Serbian MSMEs as well as the Serbian chamber of commerce, relevant ministries and other governmental and private institutions, the project is active in the following areas:

1. Improving services to promote MSMEs through public and private institutions, e.g. by providing advisory and training services on business-related issues. Service offers are also being expanded in information and communication technology (ICT), metal and mechanical engineering, organic agriculture, and tourism to increase employment and growth, e.g. by providing advice on sustainable farming methods for agriculture.
2. The project advises Serbia’s Ministry of Economy on developing a national industrial policy that addresses the needs of the private sector as well as how to improve public support programmes and services for MSMEs. These measures will improve the policy framework for the country's economic development.
3. The project, along with co-financing from the European Union, is to strengthen tourism development in the lower Danube region, including a broader range of tourism offers as well as improved tourism infrastructure.

The project aims in particular to support women in business, start-ups, innovations in ICT and new business relationships between domestic and foreign companies.

Last update: February 2025