Business Dialogue

Power China, AVR Solar Park Start Construction of Solar Power Plant in Smederevo

The foundation stone for the construction of the new Saraorci solar power plant, with a capacity of 9.95 MW, was laid in Smederevo, and the electricity is intended for the domestic market, which is enough to supply about 2,500 households, the Ministry of Mining and Energy announced. Minister of Mining and Energy, Dubravka Đedović, who attended the start of the works with Chinese Ambassador H.E. Chen Bo and representatives of the companies implementing the project, Chinese PowerChina and German AVR Solar Park, said that the built capacities in Serbia are currently far below the potential, although a total of 157 solar power plants with a capacity of 23.3 MW operate.

AFI City Zmaj Opening Ceremony

In the spirit of that which it represents: a modern and innovative business complex of the future, AFI City Zmaj – a new, spacious business park designed to cater for young and dynamic companies and developed to meet all the needs of its future tenants – has been officially opened, with several hundred of the most prominent members of the city’s business community and the media in attendance. With its new project on the site of the former Zmaj factory, AFI Europe Serbia – as one of the pre-eminent investors in the real estate market of Belgrade and the region – once again confirms that it possesses the knowledge, strength and expertise required to rejuvenate neglected locations and place them prominently on the map as new landmarks of Belgrade, as it has done with the Skyline residential and commercial complex, the Business Garden office building and business park Airport City, the city within a city.

NBS: Foreign Exchange Reserves Amount To Record 22.58 Billion Euros

Gross foreign exchange reserves of the National Bank of Serbia (NBS) at the end of June this year amounted to 22 billion and 585 million euros, which is a monthly record since 2000, the NBS announced. The announcement states that in June, the gross foreign exchange reserves were increased by 496.8 million euros. This level of foreign exchange reserves ensures the coverage of the M1 money supply of 180 per cent and six months of imports of goods and services, which is twice the standard. The NBS notes that the increase in gross foreign exchange reserves in June is the result of interventions on the domestic foreign exchange market through the net purchase of foreign currency (an inflow of EUR 315 million), as well as the usual slightly higher inflow at the end of the quarter based on the allocation of mandatory foreign exchange reserves of banks in the net amount of EUR 259.1 million.

Serbia, U.S. Trade: Big Boom in Services Trade

In total trade between Serbia and the U.S., the exchange of services - less burdened by the distance of the market - is gaining ever more importance, reaching 1.33 billion dollars last year. America has been the top export market for Serbian services for the past two years, ahead of Germany, Great Britain and Switzerland. In contrast to merchandise trade, marked by a constant deficit on the Serbian side, Serbia has a surplus in the exchange of services, which in 2022 exceeded a billion dollars. Most of the income from the export of services on the American market - 55 per cent - was achieved through the export of telecommunication, computer and information services, of which slightly more than half are computer, i.e. programming services.

Serbia and FAO Sign Agreement on Cooperation

By 2025, the agricultural and food sector in Serbia should be more sustainable, innovative and inclusive, and improve the management of natural resources. The goals are foreseen by the agreement between Serbia and the Food and Agriculture Organization of the United Nations (FAO) on key areas of cooperation. The agreement was signed in Budapest by Nabil Gangi, Deputy Regional Representative of FAO and Jelena Tanasković, Minister of Agriculture, Forestry and Water Management of the Republic of Serbia. According to the FAO announcement, achieving common goals will contribute to Serbia’s agriculture sector becoming more competitive and strengthen the overall contribution to achieving the Sustainable Development Goals. “In the past 80 years, since its foundation, FAO has shown that it is a committed partner in transforming the food and agriculture sector,” said Nabil Gangi.

Coca-Cola HBC Serbia Empowers Owners of Small Shops

Coke Academy, a specialised academy realised for its customers by Coca-Cola HBC Serbia, was held for the third time. This edition of Coke Academy was dedicated to owners of small shops, which, according to research agencies, accounted for about 40 per cent of total sales in the consumer goods industry in Serbia in 2022. “Small shops in Serbia are relevant on the market and represent important customers. In the challenging times we all live in, we believe that one of the greatest added values that we, as a large company, can provide to our partners is listening to their needs and continuous learning and knowledge exchange. We launched the Coke Academy last year, but we quickly realised that we want it to be a permanent form of support for our customers, who are always our priority,” said Marija Trivanović, manager for capacity development in the sales sector at Coca-Cola HBC Serbia.