77 Percent of German Companies Would Invest in Serbia Again, Less than Last Year

German Ambassador Anke Konrad (BETAPHOTO/MILAN ILIC)

German-Serbian Chamber of Commerce managing board president Filip Simovic said on May 19 that 77 percent of representatives of German companies who participated in a survey said that they would choose Serbia again as a place to do business as opposed to 88 percent last year.

Simovic said that despite the drop indicating a more cautious approach to investment, it also confirms that over four-fourths of polled companies still see Serbia as a relevant and attractive business location.

"The statements of 77 percent of respondents in the survey on the conditions for business in Serbia, that they would choose the same location, confirms that Serbia is a good business host, but as the president of the Chamber my job is to see what is happening with the 23 percent who said 'no,'" Simovic said at a presentation of the results of the survey.

He said that 64 percent of German businesses in Serbia are concerned about the general economic and political circumstances in Serbia while 44 percent "see disturbances in supply chains as the key risk."

A total of 900 German companies that employ 80,000 do business in Serbia, while trade has reached EUR10 billion.

German Ambassador to Serbia Anke Konrad said that Serbia needs to step up its reforms on the road to the EU, while the survey shows the importance of rule of law, political predictability, and the struggle against corruption. "Businesses need a reliable environment, and not individual deals, but framework conditions that are important to all companies," Konrad said.