43 minute read
BUSINESS DIALOGUE
Leaders’
MEETING POINT
PORTONOVI
JELENA TADIĆ,
Executive Director, PPP Investment
People First In PPP
SAMIH SAWIRIS,
Founder of worldfamous company Orascom Development Holding, which is developing the Luštica Bay project on the Montenegrin coast
A Vision Of Life As It Should be
MIRO MIJIĆ,
Founding Director and Owner, Trezor Volga
Three Decades Of Dedicated Work
DRAGOLJUB ZBILJIĆ,
Energotehnika Južna Bačka Company President
JOVANA CVETKOVIĆ,
TO and Innovation Director at MPC Properties
HOTEL GRAND KOPAONIK
Guardians Of Serbia’s Energy Strength Creating The Perfect Synergy Grand Kopaonik - The Art Of Five-Star Pleasure
PAGE /28 PAGE /32 PAGE /34 PAGE /37 PAGE /38 PAGE /39 PAGE /42
Portonovi Resort, a luxurious and unique destination that lies at the heart of the Bay of Kotor, announces the more than exciting summer season that’s ahead of us, thanks to numerous events and activities day and night. This prestigious location represents a perfect mix of top-notch gastronomy, exclusive wellness opportunities, shopping and the highest-quality real estate available either to rent or buy
This modern resort is situated less than an hour’s drive from Tivat and Dubrovnik international airports, but is also easily accessible to those who prefer private flights, thanks to its own heliport. In addition, Portonovi offers the possibility of docking in its modern marina, but also spacious private garage spaces.
In just a short period of time, Portonovi has become a favourite location for tourists from Western Europe, the U.S. and the Balkan region. According to Adrijana Husić, Senior Marketing and Communications Manager of Portonovi, the resort now has twice as many accommodation capacities compared to last year. “We are not only talking about typical hotel accommodation, but about larger apartments and suites that are interesting for tourists coming to Montenegro, due to everything this accommodation includes, but also swimming pools, the beach and the marina itself. These tourists sometimes come for a long weekend, while sometimes they stay for more than ten days or an entire month,” Husić points out.
LIVING A LUXURIOUS LIFE BY THE SEA
Nearby Herceg Novi is well-known for its climate and warm summer evenings, while the Mediterranean spirit is further enhanced
by the design of some of the most desirable residences on the Adriatic coast, which can be either rented or bought. Each of these exceptional properties has been designed by world-renowned architects, ensuring that they fit perfectly into their surroundings. Tourists can choose from luxurious Sky Villas, Marina Apartments and One&Only Portonovi Private Homes - each of which is specific in its own way, with Portonovi being the thread that connects them all.
Situated on the waterfront, at the very heart of the complex, Sky Villas represent the epitome of sophisticated life on the riviera. Their interior is a mix of warm and modern design, full of open spaces that are ideal for socialising and carefully selected materials that make these residences so luxurious and unique, with an addition of private terraces providing unobstructed views of the Bay of Kotor. However, the most exclusive spot in Portonovi is reserved for Marina Apartments, located right on the seafront and with direct access to the Marina. With an extremely convenient position in the culinary and social centre of the resort, these residences are perfect for those who enjoy being just a step away from the best restaurants, cafés, bars and shops. Apart from these most exclusive residences, Portonovi also offers accommodation that varies from one-room apartments to private villas, built in a mixture of Mediterranean, Venetian and Montenegrin style and surrounded with an abundance of greenery and flowers in the very heart of the complex. What they all have in common is a lot of indoor and outdoor space for fun, socializing or simply relaxing. Living here means spending time outdoors and enjoying the Adriatic sun in one of the numerous parks or by the pools.
SAILING TOWARDS NEW ADVENTURES
In international circles of yachting enthusiasts, the location of Portonovi Marina is widely known. The calm sea surrounding it allows easy access to the Adriatic and invites you to explore the Mediterranean right from the spectacular Bay of Kotor. One new addition for this summer season is the freshly opened Portonovi Yacht Club, which attracts fans of sailing and other nautical sports. The club is preparing a series of events and activities, with special benefits for its members. In addition to the opening event, Portonovi Yacht Club organises two regattas this summer: the popular EST105 International Regatta Bari - Herceg Novi; and the already widely renowned III Portonovi Regatta Boka Islands. “Portonovi Yacht Club will allow those who have not yet tried their hand at sailing, and would like to, to take sailing courses with experienced sailors,” says Azmont Investments CEO Rashad Aliyev, adding that Portonovi is striving to offer multiple reasons why people would like to come and stay for a certain period. “All those who are eager for adventure and excitement, beautiful landscapes, top spa centres and relaxation, as well as trips to Montenegro and cultural events by the sea, will enjoy Portonovi this summer”.
Whether you want a home on the Mediterranean coast or to experience the charms of luxury living on the Adriatic by spending a few days in one of the apartments or villas, Portonovi offers everything you need for an unforgettable experience of life by the sea. Throughout the year, visitors from all over the world enjoy the unique combination of luxury, the highest-quality real estate and design, as well as the magnificent, untouched nature of the Bay of Kotor. ... For more information about events, please contact events@portonovi.com For special offers and to book accommodation, please contact stay@portonovi.com / +382 31 353 600
LOCAL NEWS
“As the third-largest bank in Serbia in terms of total assets, NLB Komercijalna banka will play a systemically important role” ~ BLAŽ BRODNJAK, CEO OF NLB D.D.,
PARENT BANK OF NLB GROUP
THE U.S. ADDS $19.5 MILLION IN NEW FUNDS TO DEVELOPMENT PARTNERSHIP WITH SERBIA
The United States Government announced an additional $19.5 million in assistance to the Government of Serbia, as part of amendments to existing assistance agreements. These funds will be used to, among others, help Serbia make the economy more competitive and inclusive, improve the public procurement process, strengthen the health information system, promote a stronger media environment, and improve energy efficiency and biodiversity conservation. U.S. Ambassador Christopher R. Hill witnessed the signing of the amendments by Minister for European Integration Ms. Jadranka Joksimović and USAID Mission Director Denny Robertson.
MK GROUP AND FINTEL ENERGIJA ARE BUILDING FOURTH WIND FARM
The companies MK Group and Fintel Energija officially marked the beginning of works on the construction of the wind farm “Kula 2”. Wind turbines of the most modern technology are being built near the first wind farm in Serbia, “Kula”, which was also opened by these companies in 2015. With an investment of 17.5 million euros, the works are planned to be completed by the end of the year and to be put into operation in March 2023.
NEW BOARD OF DIRECTORS OF THE HELLENIC BUSINESS ASSOCIATION OF SERBIA
The Hellenic Business Association of Serbia held its annual General Assembly at which the members of the Association voted for the new Board of Directors. The new board of directors is composed of the following members: President Nikolaos Sliousaregko (Hotel Junior), Vice President Vuk Dapcevic (Eurobank Direct), Treasurer Georgios Karafergias (Roda Točkovi), Member Vasilis Karanasios (Coral SRB - Official Shell Licensee), Member Stylianos Tsoktouridis (Alumil YU Industry).
OIP 10 YEARS IN SERBIA
Outsource Insurance Professionals (OIP), a company that has existed in Belgrade since 2012, and in Nis since 2017 and is engaged in providing insurance services to clients throughout the United States, Great Britain, and Canada. From a small office with five employees, after 10 years, the MEC has more than 500 employees in offices in Serbia, Croatia, and the United States. In the past 10 years, the OIP has produced great experts. Martina Seferović, CEO of the company, was presented at the IBA Hot 100 (Insurance Business America) in 2020, Miloš Petrović, Director of Operations, was named the best development manager in Serbia, Snežana Obradović, CFO, joined Forbes Financial Council, and OIP was awarded by the North America Business Awards as the best KPO insurance service provider.
“By adopting a new legislative framework in the field of energy we created conditions to increase new capacities for the construction of wind farms” ~ ZORANA MIHAJLOVIĆ PH.D., DEPUTY PRIME MINISTER AND
MINISTER OF MINING AND ENERGY OF THE REPUBLIC OF SERBIA
ORACLE CORPORATION OPENS REGIONAL CENTER IN KRAGUJEVAC
A commercial contract was signed with the Oracle Corporation at the State Data Center in Kragujevac, which opened this IT giant as the first regional center in Southeast Europe. The agreement was signed by the Vice President of “Oracle” and the Director of the State Data Center in Kragujevac, and the signing was attended by US Deputy Ambassador John Ginkle and Serbian Prime Minister Ana Brnabic.
PROCESS OF MERGING KOMERCIJALNA AND NLB BANKA SUCCESSFULLY COMPLETED
After a year and a half of working on one of the most complex integration processes in the region, Komercijalna and NLB Bank have successfully merged into NLB Komercijalna Banka - the systemic and third largest bank in Serbia, a member of the NLB Group, a leading regional banking group. Thanks to the merger, the new bank will have 4.8 billion euros worth of joint assets, about 140,000 more customers, an approximately 25 percent larger loan portfolio, a new set of cards compliant with NLB Group standards, as well as significantly more products and services distributed through modern digital channels, but also one of the largest networks of ATMs and branches in the country.
postings Placements &
appointments@aim.rs
JASNA TERZIĆ, NEW CHAIRWOMAN OF THE EXECUTIVE BOARD OF ERSTE BANK A.D. NOVI SAD
Jasna Terzić has been appointed Chairwoman of the Executive Board of Erste Bank, as of 1st June. She replaces Slavko Carić, who decided to continue his career beyond the Erste Group after having spent almost 15 years successfully managing the operations of Erste Bank. Alongside her new role as executive board chairwoman, Terzić will continue to take responsibility for the bank’s retail sector, while she will also assume temporary responsibility for the capital market and corporate sector, until the appointing of a new member to manage this segment of operations. Terzić entered the banking world almost three decades ago, following her graduation from the University of Novi Sad’s Faculty of Economics, where she specialised in international economic relations. She has been a member of the Erste Bank Executive Board since October 2005. Her competencies have included retail banking, banking operations with small businesses and entrepreneurs, marketing, human resources and asset management.
Nikolaos Sliousaregko began his career at Heineken, where he spent 14 years and ended as head of sales for Northern Greece, before going on to serve as general manager at the Ermis food and beverages distribution centre for central Greece. He’s held the position of director for Balkan development at the Mantis group of companies since 2011, which has also given him the opportunity to engage in the implementing of Greek investments in Serbia as GM of hospitality company Junior d.o.o. and GM of construction company Notos Development d.o.o. Sliousaregko’s main activities focus on business management and development at the senior level. He has also devised his own training programmes, such as “Road to success” and “Managerial skills”. Author of the book and seminar 6 Steps + 6 Tools for a Perfect Service, he is president of the Hellenic Business Association of Serbia, a board member of HORES, the hotel & restaurant industry association of Serbia, and a board member and assembly vice president of the Kruševac Chamber of Commerce. Nikolaos is a married father of three daughters.
People First In PPP
The 6th UNECE International Forum on Public-Private Partnerships was held in Barcelona. It addressed a number of current challenges, such as climate change, the circular economy, digital transformation, green procurement and the blue economy, and how these challenges can be overcome through ‘People-first PPPs for Sustainable Development Goals’
So far, about three billion euros of private capital have been invested in projects in Serbia using the PPP model, which can overcome challenges faced by the public sector. So it is not surprising that more and more local self - governments are showing interest in this type of project
What topics were covered at the Forum and what did you talk about as the only panellist from Serbia? The main topics of the Forum were ‘People first PPPs’ for sustainable development goals in providing sustainable infrastructure, accelerating implementation of the 2030 Sustainable Development Agenda and presenting a new document developed by UNECE, which formulates a new approach to PPP project development. This document is called Evaluation Methodology, and can be an excellent
The ‘Evaluation Methodology’ document can be an excellent tool to prepare and implement PPP projects for all participants in the process, especially for cities and municipalities
What are the novelties in the new UNECE methodology for developing PPP projects? The good news for the development and improvement of the PPP model is that the ‘People-first PPPs for SDG’ approach has been formulated (People in the first place in PPP, for the Sustainable Development Goals), and that this approach is accompanied by a new Evaluation Methodology. This document overcomes some of the weaknesses in the way PPP has been implemented so far and defines the PPP Evaluation Methodology for sustainable development goals.
Projects implemented in Serbia according to the PPP model are mainly related to the improvement of communal services – from energy efficiency, through public transport and road maintenance to animal hygiene and others
The document will be available to all stakeholders as a tool for self-assessment of each PPP project to assess their compliance with the five ‘outcomes’ defined in this document.
It will assess whether a particular PPP project has increased access to basic services and reduced social inequality, improved economic effects and fiscal sustainability, taken care of the environment, promoted further project development and standardised documents, and involved all stakeholders in the project’s implementation. The Evaluation Methodology is a complex document and could be applied in the preparation phase, especially before the project is adopted by the public body. But the staff of the public bodies must be trained beforehand, so that they can properly assess whether a project satisfies the public interest, whether it is in line with the goals of sustainable development. Since a public-private partnership is a synergy between public needs and private initiative, and realising the public interest is a mutual goal in a project, potential private partners should be familiar with this methodology and apply it in preparing and implementing a project. Where is Serbia on the world map of PPP projects?
I can freely say that Serbia is a regional leader in the PPP model. Some data show that according to this model, about three billion euros of private capital have been invested in projects that serve to overcome challenges faced by the public sector. More and more local self - governments in Serbia are showing interest in this type of project, in bringing order, especially in communal activities, and in providing quality services for the money of their fellow citizens.
Projects implemented in Serbia according to the public-private partnership model are mainly related to the improvement of communal services. These are most often projects in the field of energy efficiency (reconstruction of public lighting, improvement of heating systems, etc.), but also projects for public transport of passengers, rehabilitation and maintenance of roads, animal hygiene and others. By the way, in Serbia, the Law on Public-Private Partnerships and Concessions was passed in 2011. It has undergone some minor changes but it is characterised by a high degree of applicability. This is supported by the fact that the Commision for PPP of the Republic of Serbia has so far adopted more than 200 project proposals that meet the ‘public interest’, as defined by law, and 50% of adopted projects have been implemented. Of course, there is always room for improvement of the legal framework that is in step with the development of PPP projects. For example, the Law on PublicPrivate Partnerships and Concessions recognises the category of ‘protection of public interest’ for which the methodology ‘value for money’ is applied, but this approach should be expanded in accordance with the definitions from the UNECE document and to protect public interest by setting the goals of sustainable development as an imperative, which are achieved by applying the methodology ‘value for people’.
A Vision Of Life As It Should be
“It is often difficult for me to convey my idea to people before the project comes to life. Although many believe that this type of business requires courage, I would say that the main quality that is needed is patience. I have enough patience and perseverance to start, and then take a lot of time until my vision becomes a reality.”
Luštica Bay, the emerging city, the largest investment project in Montenegro, is creating a unique way of life under the slogan ‘a place to call home’. Luštica Bay is a home, but also a summerhouse, where culture, heritage and gastronomy live in symbiosis, to create authentic experiences for all family members. During our meeting with Samih Sawiris, leader of globally renowned company ORASCOM, which creates integrated cities in Egypt, the United Arab Emirates, Oman, Morocco, Switzerland and Great Britain, we discussed the business vision, long-term goals and benefits of this project, which already has the contours of an authentic city.
Given that you have chosen a business model that very few entrepreneurs follow, I guess it took a lot of courage to embark on something like that? When I started my business many years ago, I didn’t know what I was getting into, where this journey was going, or how long it would take. I think that the big advantage is that I was much younger when I started. If I had known then what I know now, I probably wouldn’t have gotten into it. Now that I have several projects behind me, I realise that it is not a question of courage at all, but only of patience and perseverance.
When I say courage, I am also talking about the way of thinking that someone must have to embark on a project like this. In that sense, looking back, what did you learn on that business journey? I have faced many obstacles, but now, after so many years of work, I know that they are always only temporary and that, in the end, everything will work out as it should. You must be persistent and patient to overcome these obstacles.
Does that mean that, in some way, it is better to follow your instinct in business? Absolutely! For example, another thing I learned through my work is that it is the community that gives life to a town. To give the simplest example - you can have the best restaurant, but if you only have two guests, it will not work. When I started working on the El Gouna project (Egypt), I thought that it was enough to have 60 beautiful villas, a hotel and a marina, and that the project was over. In fact, it took 16 hotels and 16 years to really say that. The project was successfully completed only when we had enough people who lived there permanently, as well as enough facilities and infrastructure that were crucial for life in the city. Today, we have between 25,000 and 27,000 permanent residents in El Gouna.
When we talk about the community, we must mention the importance of integrating the local community into the development process. Do you think that the public has recognised the importance of this project? It is not at all easy to convey your vision to the local population. If you have not had the opportunity to see and experience something like it, hardly anyone can imagine someone in the middle of the desert creating a new
city. The moment the project becomes tangible, when it comes to life, then the belief is stronger. I always have a bigger picture in my head, because I’ve been doing this for a long time, but I can’t expect others to think so broadly and so far ahead, it wouldn’t be fair.
To what extent did the local business community recognise the importance of this project and to what extent did it engage in this very successful new site? Many stakeholders, such as the business community and potential investors, say that the people of Montenegro have recognised the importance of Luštica Bay. The rich offer, including boutiques, restaurants, shops and small and large spaces, is rented exclusively by local entrepreneurs, who bring the spirit of Montenegro to Luštica Bay. We have an increasing number of businesspeople in our city and they are the ones who bring in the new population. When you manage to attract local businesspeople to do business with you, it is a sure sign that you are on the right track.
Luštica Bay has successfully attracted as many as 46 different nationalities under the slogan of the parent company Orascom - “Life as it should be”. If we look at the slogan as a whole, what does it promise? The idea of Luštica Bay is to create an integrated community of new residents and locals who will feel connected to this place. I want them to think of Luštica Bay as their home. For such projects, people are much more important than numbers. That is the biggest and most important aspect! The area where Luštica Bay was created is a very interesting area of pristine nature and unexplored waters that was waiting to become a part of our everyday life.
What would you say is this project’s secret? You have to see what people need and make it possible for them. This is the most important! Local people and their needs are the first step in building an integrated community. It doesn’t matter to me how many people will buy houses and keep them closed for almost the whole year, as much as I care about individuals who live in the area and come to Luštica Bay to enjoy a cup of their favourite coffee with a spectacular view. I also want people who live near Luštica Bay to feel that this is their city, not a place where people buy real estate and come sometimes.
I guess you often change your location and the country you live in. Do you plan more frequent visits to Montenegro in the period ahead? Montenegro is beautiful. The people are very kind and I feel at home here, so I always have the feeling that I want to return to this place. Now I have a little more time, because I left most of the work to my son. I will keep my interest in the progress of small and interesting projects such as Mamula. This island will soon be open to the public and when it starts its life it will be a very interesting place that people will want to visit. I also have a project in Morocco that I am particularly attached to and that keeps me busy.
REGIONAL NEWS
“The developments in Ukraine are perhaps in the greatest focus of interest, however there are many other conflicts occurring on the global level that may also deserve our equal support and attention” ~
ZORAN MILANOVIĆ, PRESIDENT OF CROATIA
MONTENEGRO UP TO €2.9 MILLION EIB GRANT TO IMPROVE EDUCATION
The European Investment Bank (EIB), the bank of the European Union, will provide a grant of up to €2.9 million to the Government of Montenegro to accelerate the modernization of the national education system through the upgrade, construction, and reconstruction of preschool, school and vocational school infrastructure in the country. The EIB grant will cover technical and advisory support for project preparation and the public procurement process, and for developing national monitoring and evaluation standards for similar projects. It will accelerate upgrades that are expected to create an additional 2 070 places in schools across Montenegro and 530 new full-time jobs.
Serbia has exported the first quantities of fresh eggs to Albania, the Ministry of Agriculture, Water Management and Forestry told Tanjug. The ministry adds that this is the first time that Serbian producers of fresh eggs have exported to Albania and that the new market has been secured thanks to the Open Balkans initiative. They emphasized that this work is important for further strengthening the export of Serbian food products at a time when there are increasing global supply chain interruptions caused by the war in Ukraine. Serbia has a trade surplus with Albania, which will now be further increased. The Ministry points out that last year Serbia exported food for a record amount of five billion dollars.
CROATIA €6.6M INVESTMENT IN MICROALGAE PRODUCTION
The company called Phyox, specializing in the production of microalgae, substances rich in minerals, vitamins, antioxidants, and unsaturated fatty acids has invested 6.6 million euros in a microalgae production project in the city of Novska, the Večernji List daily reported. The project will enable the commercial production of microalgae for the pharmaceutical industry. The project has already gone through the stages of laboratory tests and trial production and the production of microalgae for commercial purposes is expected to start soon. There are plans to produce 40 tonnes annually. According to the information on the website this company is owned by four Croatian and German partners.
This company’s foundations of healthy and successful business relations are built on the nurture and advancement of its business culture, identity, positive image and, first and foremost, maintaining a good reputation in business. Throughout the years, Trezor Volga has persevered in this journey thanks to a great team of people who are dedicated to their work, who love taking on challenges, and love learning and progressing.
A full 30 years have elapsed since the founding of your company. Are you proud when you think about how you, as a very young man, dared to launch a company that has gone on to become a major importer and distributor? Yes, I’m very proud of everything we’ve achieved, because it really was a bold move in those years that were difficult for all of us and difficult for the country. I come from a family of merchants; trade is somehow in my genes, and alongside that I also loved geography, international cooperation and travel. So, with the little experience I had already acquired in selling protective firefighting equipment through working in the student service, I decided to enter this business. I had a strong desire, which was apparently crucial to the company’s success.
Private business was still in its infancy back then, so we overcame the obstacles gradually, step by step, just as we expanded our range gradually. Our development began from the moment conditions for international cooperation were created after the year 2000.
Three Decades Of Dedicated Work
Trezor Volga is a Serbian company that is celebrating 30 years of successful operations this year. It has grown from a small family business which initially dealt exclusively with firefighting equipment to become one of the leaders in the distribution of personal protective equipment, fire & rescue equipment, and environmental protection equipment
It was at that moment that we received a tailwind in the form of our biggest and most challenging contract, with U.S. Steel, which we wholly supplied with workplace safety equipment. That contract and operation provided an important confirmation of the quality of the service we provide and our mission to make professional and reliable relations the basis of our success and further development.
In your line of work, it is very important to monitor trends and insist on superior quality. Are you succeeding in that? Our portfolio and the number of products we offer grows year on year, because we
Our portfolio and the number of products we offer grows year on year, because we monitor trends and strive to provide our market with the kind of equipment that’s being used in the field of workplace safety on the global market
monitor trends and strive to provide our market with the kind of equipment that’s being used in the field of workplace safety on the global market. This implies excellent familiarity with products and the constant education and training of employees, because in addition to supplying protective equipment, we provide our clients with complete support, consultations, training, etc. We are delighted that evermore attention is being paid to protective equipment, that regulations and standards are being respected, and that there’s rising awareness of the importance of prevention in protecting employees’ health and safety. Testifying to this is the fact that injuries at work are becoming ever rarer, as well as the fact that the number of new companies and industries using protective equipment is on the rise.
How difficult is it to make plans today? Honestly, when I look back, I wouldn’t say we’ve ever had a long period of business environment stability, because somehow there’s been a constant shifting between difficult years and years of crisis, so we accept the current events unfolding on the international market in the same way. These are all challenges that confront us, but it is my personal conviction that success is a result of knowledge, continuous work and advancement, but primarily faith in one’s own abilities and potential, regardless of the environment. With the support and understanding of employees, all goals are achievable. Finally, after 30 years of successful operations, the entrepreneurial spirit is still restless. New technologies and innovations are also present in the production of personal protective equipment. There is great potential for further development and, accordingly, there are ideas and plans to improve the business, which implies expanding operations to segments in which we haven’t been present to date.
Guardians Of Serbia’s Energy Strength
Hungarian state-owned electricity company MVM has signed an agreement with the Maneks Group to take over 33.4% of its subsidiaries Energotehnika Južna Bačka and Elektromontaža, with which our company has stepped onto the market of the European Union in a big way
The agreement with this Hungarian energy giant also shows that Serbia is a country of strong political and business leadership, and that, when it comes to the production of electricity for the Balkans, Serbia could represent what some countries are for oil production globally.
What do Maneks, Južna Bačka and Serbia gain from the partnership with MVM? The partnership with this Hungarian energy giant is a logical consequence of our determination to develop ourselves, to move beyond the framework of Serbia and do business on the European Union market. We believed that we satisfy all the extremely high European standards, and MVM has obviously also showed that same faith in us. On the flip side, MVM’s decision to enter Serbia is evidence of our country’s respectable energy potential. With this partnership, Serbia has gained added stability and security in maintaining its transmission and distribution system, as well as additional production capacities and the possibility to independently design and build new power plants, and to improve and develop renewable energy sources. I think everyone can be satisfied. And I would add that this is a job to make Serbia proud! We are a country of strong political leadership, business leadership, and when it comes to the production of electricity for the Balkans, we could represent what some countries are for oil production at the global level.
In this time of uncertainty for electricity, how important is it to have a partner like MVM, which produces, distributes and trades in electricity, and is also a partner from the EU? It’s always good to have a strong partner. And it’s even better to have one in extraordinary circumstances like we have today, because we gain the opportunity to advance professionally and technically, to access new technologies and enter the European market. MVM will increase its presence in the Balkans dynamically, together with an experienced partner. The most expensive thing on today’s energy market is certainty. Serbia will share the destiny of the rest of the continent when it comes to challenges, but it strengthens its energy muscles and independence with this job and similar ones. Providing for citizens to live and the economy to operate unhindered is today the height of patriotism, and a responsibility that we share with our state.
Given that Energotehnika Južna Bačka installs transformer stations, gas pipelines, the gas network, heating pipelines and other energy infrastructure elements, and that you are extremely well acquainted with the situation on the market, we can’t help but ask if we’ll have a winter? Nobody in Europe can today answer that question with certainty. The war in Ukraine has brought many unknowns to the energy equation that everyone is trying to solve. I believe deeply that the state will do all it
can to ensure energy stability, and I can guarantee that we will implement all the tasks within the scope of our competence that are entrusted to us in a high-quality way and within the deadlines set. The whole of Europe is facing a great challenge, and I hope that we will be in a position to successfully respond to it together. Our old Serbian saying – only unity saves – is the most appropriate for Europe today! This job of ours is a firm handshake in that togetherness.
Creating The Perfect Synergy
Shopping centres, just like retailers, need to intensify the shopping experience permanently and steadily, as the combination of experience and pleasure is the trigger to the act of buying. More retailers develop hybrid retail models, making better use of the opportunity provided by the internet to complement their physical store.
How is the growth of online sales channels reflected in demand for commercial real estate? Physical shopping is not merely the act of buying. It is a much more sophisticated overall process: this is a journey, a unique experience, a combination of interactions that give you pleasure. You cannot recreate that experience through e-commerce, because you will not be able to have all those things together at the same level and at the same time. In my opinion, ecommerce is growing on the back of the weakness of physical retail, and in that sense last year was a good barometer for retail centres, customers and retailers to realise that shopping is about emotion. Shopping centres, just like retailers, need to intensify the shopping experience permanently and steadily, as the combination of experience and pleasure is the trigger to the act of buyDemand for commercial real estate has remained stable and is expected to preserve that stability, which also applies to real estate commercial terms, which were not affected significantly during the time of Covid and are also expected to remain stable
ing. Just as hypermarkets in the physical world are struggling to sell things other than basics, e-commerce should also become a place for just basic purchase process, provided we succeed in giving a unique flavour to physical shopping. Retaining a position as market leader isn’t only about size and dominance, rather it is more about how relevant the products are for customers – the creation of value for customers. As regards demand for commercial real estate, it has remained stable and is expected to preserve that stability, which also applies to real estate commercial terms, which were not affected significantly during the time of Covid and are also expected to remain stable.
Do you expect online players to open physical retail outlets?
It will happen in time, since online and offline synergy will intensify, due to increasing customer awareness and therefore needs, and strong brands will need to have a physical appearance, just as the opposite is already the case. This will be an overall trend, but it will take time to invest in such a development and an innovative approach in the Balkans. Retailers also mostly have traditional business as a starting point, and only then expand to online operations.
What are the post-Covid industry trends and changes? We can divide them into three categories: consumer habits changing due to them becoming more environmentally oriented; the synergising of online and offline retail; and the importance of loyalty programmes. Retailers need to evolve alongside the consumer, in order to hold onto their brand relevance in 2022 and beyond, while brands need to show off their culture and purpose. Sustainability must be at the heart of their business model and across the entire supply chain, because consumers are more concerned than ever about sustainability. After the boom of e-commerce platforms and digital growth in general, we should expect most shopping journeys to start online, but - on the other hand - that doesn’t
mean they should always finish there. In many cases, an online shopping journey’s best and most convenient destination is a physical store. We are seeing more retailers develop hybrid retail models, making better use of the opportunity provided by the internet to complement their physical store. But physical shops still have no competition when it comes to shopping and the key is synergy to find the best mechanism – for shopping to start online, but finish in store. At a time when consumer behaviour is changing fast, the customer experience is becoming more important than ever, so brands will have to work harder to emotionally engage with consumers and retain their loyalty. With the rising cost of acquiring new customers, loyalty will become the new frontier for growth.
WORLD NEWS
“Raising corporate taxes is fine to discuss. Taming inflation is critical to discuss. Mushing them together is just misdirection” ~ JEFF BEZOS, FOUNDER OF AMAZON
U.S. MULTI-BILLION DOLLAR PLAN TO ADDRESS WORLDWIDE FOOD CRISIS
The U.S., several global development banks, and other groups unveiled a multi-billion-dollar plan Wednesday meant to address a worldwide food security crisis exacerbated by Russia’s war in Ukraine. The U.S. Treasury Department announced that several global development banks are “working swiftly to bring to bear their financing, policy engagement, technical assistance” to prevent starvation prompted by the war, rising food costs, and climate damage to crops. Tens of billions will be spent on supporting farmers, addressing the fertilizer supply crisis, and developing land for food production, among other issues. The Asian Development Bank will contribute funds to feeding Afghanistan and Sri Lanka and the African Development Bank will use $1.5 billion to assist 20 million African farmers, according to Treasury.
GREECE START OF WORKS ON THE CONSTRUCTION OF AN LNG GAS TERMINAL
The beginning of the construction of the LNG terminal in the Greek port of Alexandroupolis aims to reduce the dependence of this part of Europe on Russian gas, and the connection with Serbia should be the Nis-Dimitrovgrad gas interconnection, whose construction between Serbia and Bulgaria began in February. The President of the European Council, Charles Michel, pointed out at the ceremony of the beginning of works on the construction of a gas terminal, which should supply northern Macedonia and Serbia with this energy, said that European sovereignty must be demonstrated and energy independence achieved. He added that this project is a turning point in Europe’s energy development.
UK INFLATION AT ITS HIGHEST LEVEL IN 40 YEARS
The annual inflation rate in Great Britain reached the highest level in the last 40 years in April, as the Russian invasion of Ukraine encouraged a further increase in food and fuel prices. Inflation in the previous 12 months amounted to nine percent, which is the largest annual increase in retail prices in Great Britain since 1982, the State Bureau of Statistics announced. The annual inflation rate in Great Britain was 7% in March, and it was the highest since 1992. The jump in inflation will increase the pressure on the government to alleviate the crisis, which economists predict will lead to the biggest drop in living standards since the 1950s. Millions of households across the UK were hit by a 54 percent rise in gas and electricity costs last month.
“The value of a mentor should never be underestimated – and reverse mentorship is another great to stay relevant and break down outdated hierarchies” ~ HOLLY BRANSON, CHIEF PURPOSE AND VISION
OFFICER AT VIRGIN
GERMANY LUFTHANSA AIMS FOR 20% STAKE IN ITA AIRWAYS
Germany’s Lufthansa wants to acquire a 20% stake in state-owned Italian airline ITA Airways, the successor to Alitalia, and its partner MSC is bidding for a 60% stake, a person familiar with the matter told Reuters on Tuesday. The Italian state would initially keep the remaining 20%, the source said. The Lufthansa-MSC duo made their offer to acquire a majority stake in ITA on Monday. MSC, also known as Mediterranean Shipping Group, has filed an offer together with Lufthansa and is awaiting the next steps, a company spokesperson said.
CHINA HONG KONG HOME PRICES REVERSE 3-MONTH DROP TO CLIMB 0.5% IN APRIL
Hong Kong private home prices reversed a three-month decline in April, the latest official data showed on Friday, as the financial hub stabilized after COVID-related woes and homebuyer sentiment was boosted by waves of new development launches. Prices in what survey company Demographia ranked the world’s most unaffordable housing market, climbed 0.5% in April from the previous month, according to official data, compared with a revised 0.6% fall in March. After months of muted activity, property developers rushed to launch new sales in April in response to the withdrawal of some COVID restrictions, triggering over-subscribed demand from buyers that drove up both transaction volumes and prices.
FRANCE FIRST BIG EUROPEAN NATION TO GRANT BINANCE REGULATORY APPROVAL
Binance has been granted approval from regulators to operate its cryptocurrency exchange in France. The company is now listed as a registered digital asset service provider by the French stock market watchdog AMF, enabling it to offer trading and custody services for bitcoin and other cryptocurrencies. Binance is the largest crypto exchange globally. The company handles spot trading volumes of more than $14 billion and nearly $50 billion in derivatives volume in a single day, according to data from CoinGecko. The move makes France the first major European nation to give Binance the greenlight. The company is supervised in Lithuania by the country’s anti-money laundering regulators and is also seeking registration with the Swedish finance watchdog.
Grand Kopaonik - The Art Of Five-Star Pleasure
On the roof of Serbia, nestled in an area with the most beautiful scenery, interwoven with rich pine forests and mountain peaks as far as the eye can see, one of Serbia’s most beautiful hotels found its place
The Hotel Grand has a tradition that’s inextricably linked to that of Kopaonik, a mountain of outstanding beauty and infinite natural wealth. Hotel Grand Kopaonik has worked tenaciously for four decades already to ensure that it never welcomes its guests in the same outfit or bids them farewell with the same memories. Everything here ranks second to ensuring guests feel good and enjoy every day. Grand is a gathering point for experienced individuals who live true to the ideals defining modern luxury, which is why it proudly carries the epithet of one of the most recognisable symbols of Kopaonik. By continuously nurturing the tradition of excellent hoteliers over four decades, Grand Kopaonik has come to represent a synonym for exclusivity and unsurpassed quality. Masterfully combining the local hospitality tradition with modern trends of tourism and hospitality, it audaciously offers new and attractive ski lanes that lead to the emergence of the most beautiful personal expeditions. Hotel Grand Kopaonik offers top comfort in 189 rooms and suites, as well as countless opportunities year-round for rest and recuperation, enjoyment and relaxation.
A WORLD TAILORED TO TOTAL ENJOYMENT
Inspired by the nature of Kopaonik and its core wealth, hidden in its diverse plant world, Grand’s luxury spa & wellness centre radiates with relaxation, beauty, tranquillity and complete dedication to caring for body and spirit. Its trademark spa rituals carry the signatures of some of the most prestigious spa brands, such as Switzerland’s Niance, while authentic luxury treatments make use of natural local ingredients and original products from the unique Aroma Spa laboratory, including the standout Ether Spa & Wellness. Visitors are immediately won-over and relaxed by the luxuriously equipped space of the Spa & Wellness Centre. A captivating indoor and outdoor swimming pool, offering views overlooking mountain peaks, is complemented by the truly inspirational thermal zone. Four different saunas are available, the most distinctive of which is the bio-sauna, with pine needles and dried flowers gathered from the slopes of Kopaonik. Then there’s the Finnish sauna and the infra-red sauna, with a salt wall and lower temperatures that make it suitable for use by children with respiratory issues. The fourth is the lava sauna, which is intended for couples. The special area designated for luxury treatments comprises six massage rooms named after indigenous Kopaonik plants, such as Orange mullein [Divizma], Yarrow [Hajdučka trava] and
Common wormwood [Beli pelin]. The Ether Spa’s treatments are inspired by its unique mountain location and are carefully selected to suit the needs of each individual. Selected services, experienced teams and exclusive treatments combine to make this luxury spa a unique place of relaxation and enjoyment. The Essence Collection offers a luxurious and carefully selected range of treatments that carry you away from everyday worries in order to relax and balance your mind, body and spirit. You will be left completely revitalised by massages, facial and body treatments, and the Rasul ritual with peeling and mineralising mud. The captivating outdoor and indoor swimming pool, with naturally organic green walls, is perfectly complemented by the rich thermal zone comprising four different saunas, a steam room with mountain crystals, Rasul rituals and an ice fountain.
LABORATORY FOR BODY AND SOUL
In order to create an inimitable atmosphere for guests, Ether Spa therapists work on the spot – in a unique spa laboratory – to create luxury products by hand using carefully selected natural raw materials, fusing various scents of essential oils with dried herbs and flowers sourced from Kopaonik. The aromatic laboratory that’s included within the scope of this spa centre is the only laboratory of its kind anywhere across the entire region and represents the genuine exclusivity of this spa oasis, where visitors themselves have the opportunity to learn the basics of aromatherapy, making their own blends of oils and peeling solutions that they can use during treatments or take home with them. The art of relaxation, being fully present in body and spirit in the moment, truly indulging in the respite of a holiday – these are things that are cared for here.
RESTAURANTS WITH IRRESISTIBLE FLAVOURS
When the rhythms of life are harmonised with excellent dishes made using the finest ingredients, an atmosphere that satisfies all the senses is created. A carefully tailored selection of culinary specialities will ensure every morsel has the taste of perfection. Brand new restaurant and bar concepts, coupled with daily surprises, will ensure your holiday here is a special experience. Refined and measured, and with equal charm that brings a smile to all faces and brightens everyone’s day, the Grand Salon represents the legacy of style, grandiosity and tenacity, while the Bacco restaurant is a venue worthy of connoisseurs and those who enjoy top gastronomic specialities, with a luxurious and unobtrusive character. A favourite hideout for wine lovers is the private wine cellar, with its top selection of vintages and wine maturing technology that adds value to certain labels after a period of storage and represents an indispensable part of an unforgettable fine dining experience. Reserved as the surprise of the season is the good old gastro bar Garden, which – alongside a new face and a top offer of local specialities packed in a new form – has also received an unparalleled evening programme that brings a completely new experience to Kopaonik. And don’t miss out on the chance to enjoy the most exclusive view of Kopaonik’s peaks from the unique Grand Terrace bar, and to complete the experience by sipping top champagne.
THE ESSENCE OF A GOOD LIFE
The harmonious and sheltered ambience of the Grand adeptly forms a dynamic dialogue with nature. With an interior that exudes the beauty of natural elements and simplicity, this is a place where comfort is the most highly prioritised criterion. With carefully selected interior details and an all-day Concierge programme, this famous hotel skilfully shows its holidaying guests that nothing is more important than the ability to enjoy life.
BETWEEN MOUNTAINS AND SKIES
Allow yourself to indulge completely in the ambience, feel the warmth of the mountain atmosphere and the timeless touch of elegance. Explore the charms of this unique mountain experience that’s perfectly adapted to meet the needs of experienced individuals who live a life of style!
INSPIRING KOPAONIK
This mythical mountain, representing the largest mountain range in this part of Europe, with waterfalls, forests, rivers, hiking trails, nature reserves, archaeological sites, Via Metallica… Kopaonik is a site of great discoveries, a hub of exploration and adventure – and the right place for you to find additional energy.
Discover the true nature and incredible energy of this magical mountain.
