STEADY GROWTH DESPITE PANDEMIC

We feel that there is positive momentum for the metal recycling market. Yet, more efforts are needed when it comes to application of the rule of law, transportation infrastructure, the free movement of goods and the regulating of financial services.

The broad scope and complexity of waste management makes it difficult to identify one unique recycling market. When assessing the recycling industry, one must always consider its diversified segments, as well as the different markets that those segments represent, notes INOS BALKAN General Manager Iosif Vangelatos. “Our strategic placement is definitely the metal recycling sector. Despite the COVID-19 Pandemic, we are witnessing steady growth in terms of the size of the market, which is corresponding to the growth of the country’s GDP. More than 600,000 MT of metallic secondary raw materials are being collected and recycled in Serbia, while a huge increase in capital investments is leading the sector’s capacity building efforts. On the other hand, the increased prices of metal commodities are creating higher needs for working capital in an anyhow capital-intensive market. Many firms are already facing liquidity problems and we expect this factor to determine the industry’s competitive landscape for the coming period,” explains our interlocutor.

Do you consider the institutional framework regarding the environmental protection and circular economy as enabling for the development of the sector?

The harmonisation of Serbia’s legislative framework governing environmental protection and the circular economy with the EU acquis is particularly challenging, but the road is well mapped and required financing is already available. Moreover, the Serbian government is gaining momentum when it comes to strategy formation and strategy deployment, and is rapidly making up for the The Serbian authorities must establish simplified administrative procedures to facilitate new investments, while at the same time addressing all industry players with the message that a rigorous inspection system has been enabled in order to ensure environmental protection and fair competition

delays of previous years. The very issue of implementing regulations and implementation control remains a major challenge. The Serbian authorities must establish simplified administrative procedures to facilitate new investments, while at the same time to address all industry players with the message that a rigorous inspection system has been enabled in order to ensure environmental protection and fair competition.

How does your company contribute to the work of the FIC and in which areas do you seek FIC support?

The FIC is a voice of the business community in the country. Since the early years of the operations of our Group in the country, we realised the importance of such an organisation when it comes to achieving a predictable and sustainable business environment, where there is a level playing field for all stakeholders. Our firm seeks FIC support in all cases where the basic principles of free trade are violated and competition is not free. We participate actively in the infrastructure and real estate committee, as well as in the preparing of the environmental chapter of the annual FIC White Book.

What do you see as key preconditions to ensure that your company continues to thrive in Serbia?

Our engagement on the Serbian market is of strategic importance to our group. We have been active in the country since 2004, while the acquisition of Inos Balkan occurred in 2006. Since then, we have witnessed the efforts of the country to achieve political stability and sustainable financial development. The challenges ahead of us are huge, but we feel that the momentum is positive. Certain attention must be paid to applying the rule of law, transportation infrastructure, the free movement of goods and the regulating of financial services. Finally, but importantly, demographic changes and the corresponding lack of skilful employees could potentially burden the further development of our organisation.