Switzerland - Serbia 2022 by CorD Magazine

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CONTENTS

SANJA PEŠIĆ, CEO, ALMA QUATTRO STABLE OOH DESPITE CHALLENGES

06 08

CATCHING FISH COMMENT

VINCENT SUBILIA, DIRECTOR GENERAL OF THE GENEVA CHAMBER OF COMMERCE, INDUSTRY AND SERVICES (CCIG) BOOMING OPPORTUNITIES FOR COOPERATION

H.E. URS SCHMID, SWISS AMBASSADOR TO SERBIA REASON FOR OPTIMISM EXISTS

OLIVER MARJANOVIĆ, CEO, ENJOY.ING VIEWING THE TOPIC IN 360 DEGREES

MAJO MIĆOVIĆ, PRESIDENT OF THE SWISS-SERBIAN CHAMBER OF COMMERCE SWISS INVESTMENTS IN SERBIA GROWING

EDITOR IN CHIEF Neda Lukić n.lukic@aim.rs ART DIRECTOR Branislav Ninković b.ninkovic@aim.rs PHOTOS Zoran Petrović COPY EDITOR Mark Pullen mrpeditorial@mail.com

PROJECT MANAGERS Biljana Dević b.devic@aim.rs Vesna Vukajlović v.vukajlovic@aim.rs Mihailo Čučković m.cuckovic@aim.rs OFFICE MANAGER Svetlana Petrović s.petrovic@aim.rs FINANCE Dragana Skrobonja finance@aim.rs

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MARINKO UKROPINA, SGS GROUP MANAGING DIRECTOR FOR SERBIA, CROATIA, SLOVENIA, BOSNIA&HERZEGOVINA AND MONTENEGRO SGS ALSO OFFERS GREEN BUILDING CERTIFICATION

EXECUTIVE DIRECTOR Maja Vidaković m.vidakovic@aim.rs PUBLISHER Ivan Novčić i.novcic@aim.rs DIRECTOR Ana Novčić a.novcic@aim.rs a.novcic@cordmagazine.com

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PETAR ADŽIĆ PH.D., SERBIA’S SCIENTIFIC DELEGATE IN CERN COUNCIL DECADE AFTER HISTORIC HIGGS BOSON DISCOVERY

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IMPRESSUM

ISSN: 2560-4465 All rights reserved alliance international media 2022 The views expressed in this publication are those of the presenter; they do not necessary reflect the view of publications published by alliance international media

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DRAGANA ATANASOV POPARIĆ, EXECUTIVE DIRECTOR, HEAD OF SERBIA, DEPUTY HEAD OF SWITZERLAND, AT NICOLL CURTIN HUNGRY FOR NEW CHALLENGES

OLIVER STREIT, HEAD OF THE EDUCATION TO EMPLOYMENT PROJECT, NIRAS – IP CONSULT GMBH E2E LEADS TO TRIPLE-WIN

SSCC ACTIVITIES SWISS-SERBIAN CHAMBER OF COMMERCE

DIGITAL HEALTH GROWTH SWISS HEALTH TRENDS

ART IS A CRISIS-PROOF INVESTMENT & THE JOY OF

LIFE ART BASEL IN BASEL 2022

TASTE OF TRADITION AND LUXURY SWISS PRODUCTS

ANA GRUJOVIĆ, EXECUTIVE DIRECTOR OF THE SWISSSERBIAN CHAMBER OF COMMERCE DYNAMIC YEAR FOR SSCC

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COMMENT

CATCHING FISH What testifies better to the success of cooperation between Switzerland and Serbia than the fact that the donor and receiving countries have become excellent business partners? The numbers speak for themselves: Switzerland ranked as the second largest foreign direct investor in Serbia in 2021, while at the same time becoming a top investment location for Serbian companies, mostly in the ICT sector

ack in 1991, Swiss humanitarian aid to Serbia was focused solely on helping the country endure difficult times. Since then, over the course of three decades, more than 400 million euros of official development assistance has been committed and spent to date, with an increasing focus on developmental assistance, targeting both vulnerable sections of the population and local communities eager to improve their services and participatory practises, as well as attracting new investments. These areas also constitute the foundation of the current Swiss engagement during the 2022-2025 period, which will place an emphasis on dual vocational education, the participation of local SMEs in the value chains of larger foreign direct investments and renewable energy, energy efficiency and sustainable urban planning. Switzerland is additionally supporting Serbia in one of the country’s most important, but rather slowly progressing reforms: the oversight of public enterprises. Digitisation now has to help Serbian public enterprises save time on tasks like the physical preparation of documents, and to focus more on data analysis and decision-making due to much-needed transparency with regard to the operations of public enterprises. These areas are inextricably linked to Serbia’s path to growth, which includes investments in a better educated workforce and the ability to both attract foreign companies seeking nearshoring options and align with EU legislation and the EU Green Deal. Furthermore, all of these areas fortify the current advancement of bilateral relations between Switzerland

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Switzerland is supporting Serbia in its efforts to achieve sustainable and inclusive growth. This is the essence of the cooperation plan for the 2022-2025 period and the foundation of further prosperous bilateral relations and Serbia that can be observed in the areas of trade and investments. Indeed, despite adverse global trends and negative forecasts of stagflation or even recession throughout the EU and the Western world, the dynamics of SwissSerbian economic relations have remained intact and continued to strengthen. One of the reasons is the strong link between Swiss and Serbian IT companies, which have proven to be resilient in the crisis caused by Covid-19 and the current crisis. This isn’t to say that IT is the only sector where successful cooperation is unfold-

ing. Among recent Swiss investments in Serbia are the new production site of Regent Lighting in Svilajnac, the establishment of TX Services in Belgrade and the constructions of both the Barry-Callebaut chocolate factory in Novi Sad and Nestlé's new factory in Surčin. Bilateral trade grew by 16% last year, and these new investments are yet to be added to this dynamic. These examples tell a remarkable story about the success of cooperation between the two countries and show how one win-win situation can be achieved over the course of time.

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By Ljubica Gojgić

INTERVIEW

REASON FOR

OPTIMISM EXISTS Despite adverse global trends and forecasts, the dynamics of Swiss-Serbian economic relations remain intact and continue strengthening. In 2021, Switzerland figured as the second largest foreign direct investor in Serbia. Conversely, Switzerland has emerged as a top investment location for Serbian companies, mostly in the ICT sector. Despite the pandemic, bilateral trade has grown by 16% in the last year ~ Urs Schmid H.E. URS SCHMID

he Covid-19 pandemic and the war in Ukraine will impact negatively on the global economy, while the energy crisis is also being felt in Switzerland, which has been importing electricity during the winter period for years. Nevertheless, causes for optimism exist and the Swiss-Serbian relations remain strong. It is against this background that CorD had the opportunity to meet Swiss Ambassador, Urs Schmid, to discuss the current development of bilateral relations, the launch of

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SWISS AMBASSADOR TO SERBIA

the Swiss Cooperation Programme for Serbia 2022-2025, his expectation regarding the economic outlook, as well as the Swiss concept of neutrality in the context of Russia's military attack on Ukraine. ■ Your Excellency, it was announced recently that cooperation with Serbia remains part of Switzerland’s New Strategy for International Cooperation until 2024. Can you tell us about

the priorities of the new programme, which is worth approximately 90 million euros? - What began as Swiss humanitarian aid to Serbia during very difficult times, in 1991, has developed over the last 30 years into a comprehensive cooperation programme. Switzerland is ranked among Serbia’s most important bilateral donors, with over 400 million euros of official development assistance committed and spent to date. Such an

ASSISTANCE

DUAL EDUCATION

SUPPORT

Switzerland is ranked among Serbia’s most important bilateral donors, with over 400 million euros of official development assistance provided

During the next four years, we will significantly step up our efforts to assist Serbia in turning dual vocational education and training into a success story

Swiss support for digitising the oversight of public enterprises is leading to improvements in both planning and reporting

important and continuous presence has left many footprints, which also constitute the foundation of our current engagement during the 2022-2025 period. As a highly decentralised country, Switzerland traditionally seeks to establish a strong presence at the local level, working with municipalities to improve services and participatory practises. Local governance reform will remain in focus during the period ahead. Private sector development and employment is another longstanding field of Swiss engagement. During the next four years, we will significantly step up our efforts to assist Serbia in turning dual vocational education and training into a success story. In addition, a new substantial programme will be dedicated to facilitating the participation of local SMEs in the value chains of larger foreign direct investments. Finally, though importantly, engaging in the fight against climate change is a must. Switzerland will complement its current portfolio in renewable energy, energy efficiency and sustainable urban planning with more comprehensive climate mitigation and adaptation measures, in line with the Green Agenda for the Western Balkans.

and labelling tool that was established in Switzerland in the early 1990s and is applied in more than 1,500 cities across Europe. In Serbia, the label helps municipalities comply with national legal requirements on energy matters that are under their jurisdiction and align with EU legislation and the EU Green Deal. Concrete renovation projects are important showcases of how energy efficiency in buildings can be applied, resulting in positive impacts on energy bills, comfort and health. Switzerland is supporting energy efficiency

down of an important number of nuclear power plants in France for technical reasons and the current prospect of limited supplies of electricity from gas-fired power plants in Europe as a result of reduced Russian gas exports. Electricity prices for Swiss captive consumers (households, SMEs) are usually set each autumn for the following year. Prices will certainly increase, although probably less than elsewhere in Europe, as many retailers are able to produce locally and because of the current favourable exchange rate of the Swiss Franc against the Euro.

■ Switzerland has provided significant assistance to capacity building efforts for local governments in Serbia over previous years. One of the ongoing programmes is dedicated to improving energy efficiency in cities like Vrbas, Užice, Kruševac and Paraćin. Could we talk about the positive effects of this process to date? - Municipalities in Serbia are facing big challenges in energy management, in terms of costs, greenhouse gas emissions and air quality. Switzerland is providing support in establishing interdisciplinary planning approaches and implementing concrete measures for the sustainable management of energy, cutting across different municipal sectors, such as spatial planning, mobility and public buildings. Introducing the European Energy Award (EEA) was instrumental in this regard. The EEA is a quality assurance

Switzerland will complement its current portfolio in renewable energy, energy efficiency and sustainable urban planning with more comprehensive climate mitigation and adaptation measures, in line with the Green Agenda for the Western Balkans measures in 16 schools and nurseries in these four municipalities, which will be finalised by the end of 2022. ■ The issue of energy efficiency and savings on the consumption of electricity has become one of the key topics under the conditions of war in Ukraine and sanctions against Russia, which have led to the hampering of gas supply lines to European countries. We’ve been hearing recently that Switzerland could also face electricity supply problems and will very likely have to increase electricity prices for businesses and citizens. How serious are these problems and what kind of plan does Switzerland have to overcome them? - The risk of electricity shortages in winter has been known for some time, because Switzerland has been an electricity importer for many winters. That risk has been exacerbated in recent months, due to the shutting

■ You are the ambassador of a country that has environmental protection and so-called Green transition high on its list of priorities. Europe paid great attention when your country closed one of its five nuclear power plants, after almost half a century of continuous operations. Are you concerned over announcements that the need to maintain the economy under the conditions of this energy crisis could see large European economies, like Germany’s, return to producing electricity from coal and other traditional but dirty technologies? - Today’s situation is absolutely exceptional. There is a serious risk of gas shortages this winter, which could have drastic consequences for citizens and may negatively impact the entire economy. Some EU countries are planning to fire up mothballed coal-fired plants or defer their closure. The resulting spikes in emissions are acceptable under current circumstances, especially if the deployment of non-emitting energies will also accelerate, which is exactly what the EU plans to do with its REPowerEU plan. ■ Swiss financial support to Serbia to date has also included assistance for the digitising of public administration. One particularly interesting project should enable citizens to gain insight into the operations of public companies that experts assess as BUSINESS PARTNER | SWITZERLAND 2022

having major inefficiency issues. Could you tell us more about this? - Swiss support for digitising the oversight of public enterprises is leading to improvements in both planning and reporting. Namely, public enterprises will save significant time set aside for the physical preparation of documents, freeing up more capacities for data analysis

Today’s situation is absolutely exceptional. There is a serious risk of gas shortages this winter, which could have drastic consequences for citizens and may negatively impact the entire economy and decision-making. Additionally, it also improves capabilities to provide more transparency regarding the operations of public enterprises. The respective companies, local governments, and the Government of Serbia are better equipped to inform citizens about development plans, goals and key performance indicators, as well as progress as compared to the annual plan. Overall, digitalization will allow for a more strategic approach in developing public services, as well as for better aligning the different activities conducted by public enterprises. ■ Switzerland is often singled out here as a country whose policy of military neutrality serves as a model for the Serbian government to define its own foreign policy. However, it seems that Switzerland nonetheless decided, with unexpected speed, to join the Western sanctions against Russia. Swiss Confederation President Ignazio Cassis says that this does not bring into question Swiss neutrality, but how can picking a side still be characterised as remaining neutral? - The law of neutrality, as defined by international treaties like the Hague Conventions of 1907, prohibits neutral states from entering into a military conflict and obliges neutral states, in the case of an inter-state war, not to 10

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support any of the parties to the conflict militarily. Switzerland has been strictly adhering to the law of neutrality in the current war in Ukraine. Neutrality, as an instrument of Swiss foreign and security policy, does not impede the Swiss Government from expressing political opinions and working for the respect of fundamental values like peace, democracy and human rights. Russia’s military attack on Ukraine, a sovereign state, is a serious violation of international law. With this in mind, the Swiss Government took the decision to adopt the sanctions imposed by the European Union. It is important to emphasise that, prior to taking this decision, the Swiss Government examined the EU sanctions package with regard to its compatibility with a neutral state’s obligations under the law of neutrality and concluded that the measures are compatible. It also examined the neutrality policy within the scope of its political room for manoeuvre. The extraordinary developments of Russia’s military aggression against Ukraine were taken into account. Finally, Switzerland has enforced sanctions in the past under various circumstances, without this bringing its neutrality into question. ■ Do you have understanding for Serbia's argument that the need to preserve its national interests and ensure economic stability during uncertain times means that it cannot fully support the EU's policy towards Russia by imposing economic sanctions? - It is not for me, as ambassador of Switzerland, to comment on how Serbia should be pursuing its policy of integration into the European Union and defining its national interests in this context. Certainly, for both of our countries, the Russian aggression presents a challenge to the conducting of our foreign policy and we exchanged on these matters during the recent talks between our two state secretaries for foreign affairs that took place at late June’s bilateral meeting in Belgrade. ■ Given that you come from a country that represents one of the world’s main financial centres, are you concerned over signs of a global economic growth slowdown and rising inflation? Are there grounds for the announcements we hear of a new economic crisis? - All indicators indeed show that the compounding of the damages caused by the Covid-19 pandemic and Russia’s military attack on Ukraine will slow the global economy considerably. The World Bank’s latest Global Economic Prospects report raises the risk of stagflation, with potentially harmful consequences for middle- and low-income economies alike. Switzerland will also face the consequences of the new reality, although perhaps to a lesser extent than many other countries. On the world markets, prices of important export goods from Russia and the Ukraine – namely, energy sources and certain food staples and fodder – have risen sharply. The associated inflationary pressure is weighing on demand in important trading partner countries, with dampening effects on the exposed areas of the Swiss economy. As far as the Swiss and Serbian economies are concerned, it seems that they will both continue their recovery from the Covid crisis with above-average GDP growth for the time being, but less dynamically than expected by previous forecasts. ■ Upon arrival in Serbia, you said that you were planning the strengthening of economic cooperation between our two

countries with great enthusiasm. To what extent will the economic turmoil in Europe and around the world impact on economic cooperation between Switzerland and Serbia? - I am happy to say that I remain very optimistic about the further development of our economic cooperation, and with good reason! Despite adverse global trends and forecasts, the dynamics of SwissSerbian economic relations have remained intact and continued to strengthen. In 2021, Switzerland ranked as the second largest foreign direct investor in Serbia. Conversely, Switzerland has emerged as a top investment location for Serbian companies, mostly in the ICT sector. Despite the pandemic, bilateral trade has grown by 16% over the last year and, when it comes to the trade in services, Switzerland has become Serbia's fourth most important partner. Recent examples of Swiss investments in Serbia include the opening of a production site of Regent Lighting in Svilajnac, the establishment of TX Services in Belgrade, the construction of the Barry-Callebaut chocolate factory in Novi Sad and Nestlé's new factory for plant-based products in Surčin. The number of jobs created by Swiss companies in Serbia is estimated at over 12,000. I would also like to add that the large Serbian diaspora resident in Switzerland plays an important and increasing role in facilitating Swiss investment activities in Serbia. ■ The Swiss Embassy in Serbia has been recognised for many years for the support it provides to culture and art, particularly authors from the younger generation and emerging artists who’ve yet to establish themselves. Do you intend to continue work in this area?

- Cultural ties are a very important part of relations between our two countries. Encouraging and promoting young artists and performers has indeed been a focus of our activities for some years and will continue to be an important objective. Moreover, in order to provide more comprehensive support to the cultural scene in Serbia, in October 2021, Switzerland launched its first long-term intervention in the field

Recent examples of Swiss investments in Serbia include the opening of a production site of Regent Lighting in Svilajnac, the establishment of TX Services in Belgrade, the construction of the Barry-Callebaut chocolate factory in Novi Sad and Nestlé's new factory for plant-based products in Surčin of culture called ‘Culture for Democracy’. Under the scope of this project, worth one million euros, we intend to protect and enlarge a social space where pluralistic and democratic values can be expressed, intercultural dialogue triggered and tolerance promoted. This project looks beyond supporting the production of art and culture, valuing exchanges, mutual learning processes and innovation. This instrument focuses in particular on independent cultural actors at the local level, with a special emphasis on disadvantaged municipalities. For all these instruments, we will be implementing annual open calls in collaboration with our partner, Heartefact Foundation. Switzerland has so far already supported 19 projects with a total of 232,000 euros.

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INTERVIEW

SWISS INVESTMENTS IN

SERBIA GROWING MAJO MIĆOVIĆ PRESIDENT OF THE SWISS-SERBIAN CHAMBER OF COMMERCE

I firmly believe that Serbia is awaited by an increase in the volume of Swiss investments in the period ahead, despite these economically turbulent times. Also testifying to this is the recent visit to Serbia of the director general of the Geneva Chamber of Commerce

he operations of all companies are today dependent to a great extent on how their work was impacted by the pandemic. The sectors hardest hit by Covid-19 were those of the hotel industry, aviation and tourism, while the least negative impact of the pandemic was felt by ICT companies. Swiss-Serbian Chamber of Commerce (SSCC) President

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Majo Mićović is of the belief that room for optimism today exists. “After two years, we’re seeing the appearance of a period of recovery and further development for companies, including SSCC member companies. Some of them have also announced new investments, as Nestle has, then leading IT security company Sky Express opened its representative office in Podgorica

DEVELOPMENT The ICT sector is far and away the most dynamic direction in the development of economic relations and the SSCC membership includes the largest percentage of IT companies compared to the total number of members

PLANS Digitalisation, artificial intelligence and biotechnology are the main directions of the chamber’s activities that will contribute significantly to the further improvement of the business climate

and will soon also do so in Tirana, and two new factories have also opened: Regent Lighting opened a factory in Svilajnac and Barry Callebaut opened one in Novi Sad, all of which testifies to the positive way they view the local and regional business climate,” says Mićović. ■ Are your members also confronted by labour shortages and how much does vocational education and training (VET) help in that sense? - The Swiss-Serbian Chamber of Commerce organised three conferences aimed at promoting the importance of dual education and finding adequate labour. Member companies are indeed confronted by labour shortages, but we’re glad that some of them – like Nestle and Standard Furniture Serbia – have entered the dual education system and recognised it as a way to find high-quality workers with competencies that are aligned with the needs of the economy. We are extremely glad that, as a Chamber and as individuals from the

INVESTMENT The IT sector has become one of the most important directions of investment in Serbia, alongside services, food and healthcare… Alongside Switzerland, Germany and the U.S. are leading the way in IT sector investments

Board of Directors, we’ve provided a serious contribution to this topic since dual education was first initiated in Serbia. ■ What will be the main directions of SSCC activities in the period ahead when it comes to advancing the business climate? - Geneva Chamber of Commerce Director General Vincent Subilia has just concluded his first visit to Belgrade. I also organised a meeting with Serbian Prime Minister Ana Brnabić for this occasion, with that meeting also attended by H.E. Ambassador Schmid. During the meeting, PM Brnabić introduced her interlocutors to the good business climate in Serbia and presented the economic areas favourable to investment, with a special emphasis on digitalisation, artificial intelligence and biotechnology. These are actually the main directions of the chamber’s activities that will contribute significantly to the further improvement of the business climate. On our side, we familiarised the Prime Minister with the fact that the ICT sector is far and away the most dynamic direc-

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tion in the development of economic relations between the two countries, but also the fact that the SSCC membership includes the largest percentage of IT companies compared to the total number of member companies. This itself testifies to possible directions of future cooperation with the Chamber of Commerce of the Canton of Geneva.

We (SSCC) recently signed a Memorandum of Cooperation with the Geneva Chamber of Commerce (CCIG) that’s tasked with strengthening awareness and understanding of the investment climate in Serbia among CCIG members

■ To what extent has the SSCC’s working methods returned to the pre-Covid period? What would you retain from the working methods utilised during the lockdown period? - The SSCC closely monitors unfolding events related to the pandemic, with the aim of complying with and implementing health protection measures. Holding webinars remains an integral part of the SSCC’s work, but in-person gatherings among members, as a form of SSCC work, are also becoming more frequent. It could be said that the SSCC combines the advantages of working during both periods - before and during Covid - and in force now is the so-called hybrid model of work, which includes both online events and the staging of live events. There’s no need to stress the importance of live, direct communication and gathering. That has prompted some members of the Chamber, such as Sky Express with the case of the SSCC Networking Cocktail Party, to organise “live” events as a way of bringing the membership closer together and initiating new ideas and contacts. ■ As of the end of Q3 2021, the Serbian investments of Swiss residents had a total value of almost 1.7 billion euros (€1,685.3 million). What kind of interest are you recording among investors today, when we once again find ourselves in globally turbulent times economically? - Business operations under the conditions of the pandemic, but also during the time of the global economic crisis caused by military 14

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conflicts, has brought many aggravating circumstances and raised the question of the survival of a large number of companies in almost all industries. The IT industry is one of the few industries to have been barely hit by the crisis. The IT industry is the fastest growing industry in Serbia, which has been recognised by Swiss investors for years and their interest in our ICT sector is fortunately on the rise. The SSCC has a large number of companies operating in the ICT sector among its members, with dozens of Swiss companies having already established a local presence in Serbia through outsourcing and the opening of development centres. Company Sky Express, which is part of Swiss investment fund Evolution Equity Partners, is an excellent example of a company that’s been present on the Serbian market for almost 20 years and continues, with the support of Swiss partners, to invest in the IT sector. We (SSCC) recently signed a Memorandum of Cooperation with the Geneva Chamber of Commerce (CCIG) that’s tasked with strengthening awareness and understanding of the investment climate in Serbia among CCIG members. I firmly believe that Serbia is awaited by an increase in the volume of Swiss investments in the period ahead, despite these economically turbulent times.

■ Numerous Swiss companies have already established a local presence in Serbia. Looking at the ICT sector alone, how represented are Swiss companies here compared to companies from other countries that are leading investors in Serbia? - The IT sector has become one of the most important directions of investment in Serbia, alongside services, food and healthcare. Exports of ICT services recorded in January and February this year amounted to 347 million euros (up 42.7% on the same period of last year). There are many factors that influence the decision making of investors, but certainly among the most important are the engineering quality of IT personnel, the level of digitalisation of regional centres, the rate of return on investment, the extent to which certain IT technologies are represented in the country etc. Alongside Switzerland, Germany and the U.S. are leading the way in IT sector investments in Serbia. ■ How would you rate Serbia's progress on the creating of institutional preconditions for transitioning to Industry 4.0? - Energy, business, agriculture, health and education – as the basic pillars of each country’s economic and social development – are areas where the application of Industry 4.0 can shift and improve functioning significantly. Digital technologies, such as cloud computing, the IoT (Internet of Things), robotics, big data and cyber security software solutions are key to implementing the Industry 4.0 concept.

The ICT sector is today Serbia’s largest net export branch, with a greater contribution to GDP than, for example, construction, while it has also surpassed agriculture in terms of exports. I can thus say that Serbia is on the right track for transitioning to Industry 4.0. The state administration has succeeded in making digitalisation dynamic with its very good internal policy on the development of e-government

The state administration has succeeded in making digitalisation dynamic with its very good internal policy on the development of e-government via the IT Office, though it is still necessary to speed up the digital transformation of social consciousness even more and develop even stronger coordination among the state, business and science via the IT Office, though it is still necessary to speed up the digital transformation of social consciousness even more and develop even stronger coordination among the state, business and science. ■ In which areas can Swiss companies provide the best knowhow when it comes to digitisation and the development of e-services in Serbia? - The Swiss software sector is incomparable to those of Germany or the U.S. in terms of volume of business, but it has its own advantages and expertise: its technical and programming procedures are

significantly better than those of others, but so are its quality control systems; excellent innovation and attention to detail, as well as excellent understanding of the needs of users. These are certainly qualities that I’d also like to see represented to a greater extent in Serbia when it comes to businesses that depend on digitalisation, and particularly when it comes to e-services.

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BUSINESS

VINCENT SUBILIA, DIRECTOR GENERAL OF THE GENEVA CHAMBER OF COMMERCE, INDUSTRY AND SERVICES (CCIG)

BOOMING OPPORTUNITIES

FOR COOPERATION

The field of new technologies, which is booming in Serbia, as well as infrastructure (especially tourism) and transport, are undoubtedly areas where synergies can be found between Swiss businesses and Serbia, but there are also ample opportunities in other sectors

he Government of the Republic of Serbia and the Swiss-Serbian Chamber of Commerce recently welcomed Vincent Subilia, director general of the Geneva Chamber of Commerce, Industry and Services (CCIG), to Belgrade. We took the opportunity to interview him and find out more about previous achievements and future collaboration between the two chambers, which brings new possibilities for economic cooperation

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The CCIG will host the 13th World Chambers Congress in June 2023 and we believe this will be an incredible opportunity to highlight the SSCC and Serbia, as we expect over 1,000 participants from 100 countries to attend

between the two countries. As CCIG Director General Subilia explains, “cooperation between CCIG and the Swiss-Serbian Chamber of Commerce is not new. We co-organised events that were held in Geneva in 2015 and 2022. “On the occasion of the signing of this Memorandum of Understanding, we were particularly happy to welcome to Geneva SSCC President Majo Mićović and Executive Director Ana Grujović. This was

PROSPECTS With some 2,400 member companies, the CCIG offers a cross-section of the economic sectors at play in Switzerland. We are looking forward to cooperating with the SSCC followed by our visit to Belgrade in July 2022, during which we were able to present ourselves to SSCC members and meet with the Serbian prime minister and Swiss companies established in Serbia.” Citing the numerous areas of cooperation between the two countries, Subilia notes: “the field of new technologies, which is booming in the Republic of Serbia, as well as infrastructure (especially tourism) and transport are without doubt areas where synergies between Swiss businesses and Serbia can be found. As our recent visit to the country has shown, there are already leading Swiss economic players in Serbia, such as Nestlé and Roche. We look forward to implementing the MoU signed last June with the Swiss-Serbian Chamber of Commerce. Several CCIG members that have recently expressed their interest in developing activities in Serbia are already in contact with the SSCC.” The CCIG will also host the 13th World Chambers Congress in June 2023 and Subilia believes that this will provide an incredible opportunity to highlight the SSCC and Serbia, with over 1,000 participants from 100 countries set to attend. When it comes to prospects for the nearshoring and offshoring of Swiss investments in Serbia, Subilia notes that several sectors seem particularly promising. “We think of the agri-food industry; digital transformation and new technologies (ICT is a mainstay of Serbia’s economy); infrastructure, in particular the construction of tourism infrastructure; energy transition and the improvement of energy efficiency (modernisation of thermal power plants, use of renewable energy sources),” concludes our interlocutor. Turning to the ways cooperation between the CCIG and the SSCC will proceed, Subilia explains: “the MoU that was signed last month aims to promote exchanges in trade and services, business partnerships and investments between Geneva and Serbia, alongside exchanges of information related to recent developments in trade, the economy

OPPORTUNITIES There are many aspects of Serbia that investors will find attractive, aside from its geostrategic position, and they are appreciated by Swiss investors

Serbia benefits from free trade agreements with the EU, EFTA, the UK, Central European countries and Turkey, and from the Generalized System of Preferences with the U.S. and Japan, while it has moderate operating costs including in terms of electricity – a key factor nowadays and investments. There will also be ample space to discuss specific projects that meet the interest of members of both chambers. “With some 2,400 member companies, the CCIG – which can call on its 157year history – offers a cross-section of the economic sectors at play in Switzerland. We are therefore confident that there will be much scope for cooperation with the SSCC,” explains Subilia. Furthermore, notes our interlocutor, as an international city that’s located geographically at the centre of Europe, Geneva is the

BRIDGEHEAD As an international city that’s located geographically at the centre of Europe, Geneva is the perfect bridgehead to develop business in the heart of Europe

perfect bridgehead to develop business in the heart of Europe. To conclude, we wanted to know which of the characteristics of the Serbian business environment are particularly attractive to Swiss companies and where they see possibilities for further improvement. “There are many aspects of Serbia that investors will find attractive, aside from its geostrategic position (at the crossroads of Europe and the East, less than a two-hour flight from Geneva) that offers access to international markets,” says our interlocutor. “A highly-qualified and motivated workforce is one of them. But Serbia also benefits from free trade agreements with the EU, EFTA, the UK, Central European countries and Turkey, and from the Generalized System of Preferences with the U.S. and Japan. It has moderate operating costs (including in terms of electricity – a key factor nowadays) and a competitive tax policy for foreign investors, who can benefit from a loan from the Swiss State secretariat for Economic Affairs Start-Up Fund (a programme providing loans to investors resident in Switzerland for start-up business projects in emerging economies),” concludes Subilia. BUSINESS PARTNER | SWITZERLAND 2022

BUSINESS

MARINKO UKROPINA, SGS GROUP MANAGING DIRECTOR FOR SERBIA, CROATIA, SLOVENIA, BOSNIA&HERZEGOVINA AND MONTENEGRO

SGS ALSO OFFERS GREEN

BUILDING CERTIFICATION The SGS Group operates within the scope of a network of more than 2,700 representative offices and laboratories and has 93,000 employees worldwide. Company SGS Belgrade was founded in August 2001 as a full member of the Group and has since positioned itself as a market leader in our country

ith its fight to combat the grey economy within the framework of the marking and monitoring of petroleum derivatives, SGS Belgrade has contributed to fuel quality adhering to the level of EU standards. It is thanks to this work that inflows of funds to the budget of the Republic of Serbia from the collecting of excise duties on petroleum derivatives increased by around 1,300 million euros. ■ You deal with quality control, verification, testing and certification, but that’s not everything we need to know about SGS Group and SGS Belgrade. Could you tell us more? - SGS Belgrade is a leader in quality control, testing, certification and verification, but

We’ve developed a large number of courses within the scope of the SGS Academy in Serbia, with the aim of satisfying our clients’ specific requirements also in monitoring the turnover of goods and investments in agriculture, industry, mining, the petroleum and chemicals industry, turnovers of consumer goods, laboratory testing etc. The majority of services are implemented in accordance with methodologies that are harmonised at the global level, while we adapt certain services to suit our region, first and foremost in the fields of education 18

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and advancing business operations. We’ve developed a large number of courses within the scope of the SGS Academy in Serbia, with the aim of satisfying our clients’ specific requirements. SGS Belgrade has developed devices and software applications that will – through the complete automation and digitalisation of processes – not only improve the national programme, but also operate globally in all SGS projects worldwide. ■ Are we, in Serbia, aware of the importance of the substantive applying of business standards, as opposed to their mere formal application? - The number of certification bodies in Slovenia and Croatia is roughly the same as in most EU member states, while the number is incomparably higher in our country. It is a given that laws, regulations and appropriate technical standards must be applied when doing business in regulated markets, which is why the corporate culture and differences on the market – compared to the competition, your customers and other

interested parties – are actually proven by the holding of certain certificates for management systems. We still have lots of work to do to raise the level of understanding of the importance of substantively applying business standards. When you have the substantive implementation of standards, you are able – amongst other advantages – to very effectively pass customer checks, which is a trend in EU countries. It is very easier for customers to recognise if you

climate change and its consequences, SGS Belgrade implemented circular economy principles through a palette of new services: compiling GHG inventory reports, calculating products’ carbon footprint and conducting life cycle assessments. Following LCA verification, the client has the basis upon which to create an environmental product declaration (EPD). The new addition to the SGS offer is green building certification according to the

The new addition to the SGS offer is green building certification according to the EDGE global standard, as well as consulting services for LEED standard certification only implement standards formally, which places your company at a very low level of trust within their supply chain. ■ What are the current global trends in your area of business; and how quickly do new services and processing methods developed at the global level of SGS arrive in our region? - By monitoring the need to deal with

EDGE global standard, as well as consulting services for LEED standard certification. Alongside expert supervision, we also offer sustainability supervision in accordance with green building standards through the checking of design project documentation and the execution of construction works, which is becoming a standard and will soon be obligatory for all new construction projects.

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BUSINESS

SANJA PEŠIĆ, CEO, ALMA QUATTRO

STABLE OOH

DESPITE CHALLENGES The first half of the 2022 business year and the sales results that Alma Quattro has achieved don’t indicate that a crisis is on the horizon, caused by global events and rising prices. At this company they’re satisfied with their balance sheet, because it appears as though the entire advertising market has resisted all challenges

eventually catch up with the Swiss model, which creates many opportunities for us in Serbia. We are of the same belief that, even in the most difficult situations, we all have an opportunity to do at least one good thing that can improve the life of the individual, the company and the community to which it belongs. That can be investing in renewable energy sources, reducing carbon dioxide emissions, recycling materials, disposing harmful waste in an adequate way etc. Over the course of these 28 years, we have had an opportunity to show that successful business operations are the result of a long-term mindset and planning, sustainable development and smart investment.

ere Alma Quattro CEO Sanja Pešić speaks to CorD Magazine about global advertising market trends, the expectations of client, results of the first half of this year, almost three decades of successful work, the company’s Swiss background and many other issues. ■ Does your broad portfolio enable you to tailor campaigns to suit each client? - Our portfolio, which consists of classic small and large format advertising media and their digital variants, has enabled us to tailor good campaigns for all clients, both large and small. Global brands continue to maintain an active presence in our country, and we are also delighted by the fact that we’ve also had the opportunity to cooperate with new brands on the market, which raises hopes that the economy will remain stable in the second half of the year. The general rise in prices certainly impacts negatively on business decisions, but not to the extent that could be expected - if we take into account the historical model of conduct during the period of the sanctions of the 1990s or the world crisis of 2008, which had a marked impact on the advertising market and consequences that we felt for many years later. I believe sincerely that we’ve learnt a lot since then and that these kinds of scenarios will not repeat themselves, and that the market will remain stable and with an upward trajectory until the end of the year. The crisis that emerged during the pandemic showed that out of home [OOH] advertising has a high degree of adaptability and is able to recover quickly. ■ How would you explain your many years of successful work during what has already been 28 years on the Serbian

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The crisis that emerged during the pandemic showed that out of home [OOH] advertising has a high degree of adaptability and is able to recover quickly market; and to what extent does the company’s Swiss background influence that success? - The Swiss model can teach us a lot. Their work ethic, attitude towards money, towards natural resources and business results represent a model that we should emulate. Serbia and Switzerland are incomparable in many respects, while at the same time there is a lot of room for improvement in order for us to

■ Despite the emergence of new communications channels, OOH advertising has continued to record growth over the last three years. How would you explain the great impact of OOH advertising on the decisions of consumers? - Like all visual media, the influence of OOH is thanks to the fact that we spend a good part of our lives out of the home. The active working population spends a large part of the day travelling from home to work, performing their daily routines. The pandemic intensified staying within local borders and, with travel made more difficult, ever more people are choosing Serbia as their holiday destination. The business world reoriented itself to online meetings, which leaves more time for other activities. Cities are also alive at night, particularly among the younger population, and the messages from our billboards are thus available to a large number of people. All research also shows that people are spending ever more time out of the home.

BUSINESS

OLIVER MARJANOVIĆ, CEO, ENJOY.ING

VIEWING THE TOPIC

IN 360 DEGREES Enjoy.ing is a member of Swiss software company NSM Engineering group, which has three locations in Serbia, more than 250 employees, more than 200 technologies and almost 30 clients and the UK have trusted us for nearly 20 years and enjoy working with us.

peaking for CorD Magazine, enjoy.ing CEO Oliver Marjanović explains why Serbia and Romania are viewed as core growth markets and announces two new locations that are joining the group, whilst also explaining that the company will continue to nurture its values and invest in people, because it believes in offering employees a real home.

■ How do you succeed in responding to the needs of the growing market and clients? - As pioneers of the Serbian nearshore market since 2004, we have seen exciting and challenging times. Our daily business relates to the transition of the software engineering industry and demanding clients. We learned that our great ambition to deliver the best fit solution for clients is as important as our culture of living trust at all levels and recruiting the best people to work in this context. We react very quickly to short-term changes that appear, and that will always appear. Learning from

Our great ambition to deliver the best fit solution for clients is as important as our culture of living trust at all levels and recruiting the best people to work in this context these experiences every day, we are rebuilding our organisation into a form that will totally empower all our people to make decisions that are in the best interest of our partnerships with our clients. With our new, hierarchy-free organisation, we grow as human beings in the network of our own ecosystems. The key is our unique and natural combination of bringing together the best of both the Swiss and Serbian worlds: we have combined the Swiss culture of aiming for the highest quality solutions in the context of our client’s needs with Serbian creativity and the ability to understand our clients’ requirements from all angles – and to challenge them if needed. That’s why our clients from Switzerland, Germany

■ Can you tell us more about your famous Swiss model A-360; how you apply it and what makes it unique? - The model is not technical, but more about how we understand ourselves and successfully do business. Our services are established, adapted and sometimes replaced – having a 360-degree view of the topic at hand. It is all about people and how we create a system of quality, trust and communication. Examples: we turned down very attractive requests of clients wanting to work with us! Simply because we didn’t believe our people would be satisfied in the long run. Or: investing strongly in young people in IT might sound short-sighted and risky, but we always believed that investing several months in the education of graduates pays off – and it has, for us and for them. ■ What are your future plans in a world where “global sourcing” is increasingly becoming a topic? - We embrace change, but believe some things should remain constant. I see Serbia and Romania as our core markets, where we bring new clients and growth. We will nurture our values and invest in people, because we believe in offering our employees a real home - wherever they work. For us, it is very important to create opportunities for them to experience new cultures, learn, share, and grow even more. Finally, I can reveal some big things that we have planned: two new locations are joining our group! They will bring us even more flexibility in our sourcing options and promote exchanges of knowledge. Another important project we currently have in store is our rebranding of the entire group, not just enjoy.ing. That’s already in the works and will be revealed at our huge party on the 17th September, so stay tuned! BUSINESS PARTNER | SWITZERLAND 2022

SCIENCE

PETAR ADŽIĆ PH.D., SERBIA’S SCIENTIFIC DELEGATE IN CERN COUNCIL

DECADE AFTER HISTORIC

HIGGS BOSON DISCOVERY To this very day, almost seven decades after its establishment, the European centre for nuclear research that’s known as CERN represents the most prestigious international scientific organisation, the work of which also includes the participation of numerous teams from Serbia SM’s last missing particle, was wrong”. Finally, after more than 60 years of hunting, it was found in 2012, when the two largest experiments in particle physics – ATLAS and CMS – announced this historic discovery on 4th July at CERN. It represents a huge leap in particle physics, the predicting of which was worthy of the Nobel prize in physics for two great physicists, Peter Higgs and Francois Englert. Among the many scientists taking part in this long journey, Serbian scientists were involved in both of these experiments from 2001 and also gave direct contributions. These two largest and most complex experiments in the history of science involve about 9,000 scientists, engineers and experts of various profiles.

CMS project control room

peaking to CorD Magazine on the occasion of the 10th anniversary of the revolutionary discovery of the Higgs boson, professor Petar Adžić discusses the latest results and upcoming research into the properties of this elementary particle, but also CERN’s importance to Serbia’s scientific community, education system and economy.

■ Precisely 10 years have passed since the discovery of the Higgs boson particle, also known among journalists as the “God particle”. How do you view this turning point in science from today’s perspective? 22

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- The Higgs boson was probably the longest awaited particle clearly predicted by the prevailing Standard Model (SM) theory of particle physics. During my past lectures at the Faculty of Physics of the University of Belgrade, I very often had to answer the same question posed by students: do I believe the Higgs boson really exists? My answer was always the same: “besides strong physics and mathematical arguments, there is one more convincing argument: with the exception of the Higgs boson, all particles predicted by the Standard Model – the most precise theory in particle physics – have to date been confirmed as existing, and it is thus hard to believe that only the prediction of the Higgs boson, the

■ Was research on the Higgs boson and the Higgs field concluded back in 2012? - This discovery represented a turning point in High Energy Physics (HEP) and for particle physicists at the same time also the beginning of new challenges and deeper studies. It firstly confirmed SM as the leading theory of current energies produced at the LHC accelerator complex. This particle also confirms the existence of the complex Higgs field, thus encouraging physicists that they are on the right track in their research endeavours. However, although it is perfectly explained mathematically, we still do not understand the physics behind the Higgs mechanism and how it acts in the creation of particle masses. There are so many phenomena within the Higgs sector that we still need to understand and we are trying to study them in the Higgs boson’s interactions with other particles. Over the last ten years, ATLAS and CMS experiments performed very

complex and comprehensive investigations to understand such interactions. ■ What has been happening at CERN in the meantime? Has the research of some other teams led to some new discoveries, to new revelations about new particles? - There are other priorities in particle physics too. Several important results and discoveries have also been reported and published in the meantime by ATLAS, CMS and another two LHC experiments: LHCb and ALICE. Some new exotic particles were discovered and some very rare particle decays were confirmed or discovered, including the Higgs boson rare decay, along with other phenomena. On the occasion of the tenth anniversary of the announcing of the discovery, ATLAS and CMS collaborations published two independent papers in the scientific journal Nature showing that the properties of the Higgs boson are remarkably consistent with those predicted by the SM. Further studies of this particle would represent a powerful tool to search for new and unknown phenomena that may shed more light on some of the biggest mysteries of physics, such as the nature of the mysterious dark matter present in the universe. All these discoveries and new precise measurements of particle properties are in line with SM predictions, but one of the priorities is also to search for indications of possible new physics and phenomena beyond SM predictions. All these will stimulate a more intensive search in the ongoing experiments, particularly after the upgrade of the High Luminosity LHC (HLLHC), the operation of which is planned for 2027-2028, while its programmes are expected to probably conclude by 2040. ■ Serbia has been a full member of the European Organization for Nuclear Research – CERN since 2019. What has this membership brought us? - There are several Serbian research teams involved in CERN projects, four of which are larger: two particle physics teams involved in the CMS (since 2001) and ATLAS experiment (2004), then one research team working on ISOLDE (in nuclear physics) experiments and the team involved in LHC GRID computing and SHIP experiment. There are also several smaller research groups and Serbian scientists and engineers contributing independently to

different CERN projects. More than 80 people from Serbia have been registered as CERN users since Serbia became a full member of CERN. Apart from organised teams that provide an active research contribution to CERN projects, to date many Serbian summer students, Ph.D. students, postdoctoral and senior researchers have obtained prestigious CERN stipends, fellowships and various forms of financial support. They have spent between several months and several years working at CERN. Most of them returned to their home institutions to share their knowledge and experience with their colleagues, while continuing their close collaboration within CERN projects.

were also active within CERN projects, but we expect the industrial return to improve in the following years. ■ Did the engagement of a larger number of research and technical experts at CERN at least slow down the brain drain of experts and future experts leaving Serbia? - I don’t have any official information, but the answer is positive as far as HEP physicists are concerned. Most of those who collaborate actively within CERN projects travel from Serbia to CERN when needed. We are grateful for the general support of the Serbian govern-

With Rolf Heuer, former CERN General Director

It is estimated that approximately 80% of total particle physics research worldwide is currently being carried out at CERN One of CERN’s important missions is education. Serbia utilised the great opportunity to send pupils from Serbian schools to CERN on several occasions, then students and physics teachers, to attend CERN educational programmes. These programmes included lectures by CERN scientists, active training sessions, visits to CERN laboratories and experiments. Such activities were highly valued by Serbian schools and by the Serbian Ministry of education. During the construction phase, Serbian industrial companies designed, constructed and delivered some detector parts for ATLAS and CMS detector as an in-kind contribution early in 2000. Some Serbian industrial companies

ment, but what we need is much better financial support. We have been expecting the financial support required for active and comfortable work, including necessary longer stays at CERN, for many years. We hope that financial support will improve in the following years. I should like to take this opportunity to mention that Belgrade will host the annual international conference “LHCPhysics” (LHCP2023) in the last week of May (22nd-29th) 2023. Serbia and Belgrade will have the honour of welcoming about 500 physicists from all over the world, who will present the latest results of LHC experiments at CERN. During one conference week, there will be also several ongoing events connected with CERN activities. BUSINESS PARTNER | SWITZERLAND 2022

In front of open CMS detector

■ Does research work or engagements on projects at CERN imply the transferring of part of the activities to the domestic scientific institutions to which researchers belong and, if so, to what extent? - This is crucial and one of the most important benefits for each CERN member state. New research goals stimulate the development and application of new technologies as an indispensable ingredient of the construction of complex detectors. It is always a great opportunity for industrial companies to get involved in CERN’s scientific and technological projects. The knowledge and experience gained in this work pay off in the best way provided at least part of these activities and experience are transferred to home institutions. The same holds for scientists. Their experience and knowledge gained working on CERN projects represent the great award and may become beneficial for their home institutions. When they return home, they still can continue collaborating within CERN projects, but at the same time they can upgrade and enrich the scientific environment by implementing their knowledge, experience and new methods in research work at home institutions. ■ What are scientists from small countries like ours most impressed by at CERN? - The experimental research in HEP projects assumes the period from feasibility studies, construction and then commissioning of 24

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complex detectors and it takes usually 10 or more years. All these are dictated by high and ambitious research goals and priorities set by scientists and by technological development. Naturally, scientists and engineers, particularly young ones, are always impressed by unique equipment and the presence of many experts from whom they can usually learn. Even we seniors, with 35 or more years of experience at CERN, are astonished and thrilled each time we find ourselves in

- It is estimated that approximately 80% of total particle physics research worldwide is currently being carried out at CERN. It is also one of the leading institutions in accelerator technologies, engineering and IT, along with all activities that necessarily follow the construction of complex detectors. CERN will certainly retain the status of leading HEP laboratory for several more decades and even longer, as all HEP research priorities should receive additional focus in

Serbia utilised the great opportunity to send pupils from Serbian schools to CERN on several occasions, then students and physics teachers, to attend CERN educational programmes front of those complex and huge detectors composed of more than 100 million parts surrounded by associated instruments and occupying the space of four- or five-storey buildings. Besides top-class research and the use of all kinds of modern equipment, I would reemphasis that the greatest benefit offered by CERN is education and experience that scientists or engineers can gain and bring back to their home institutions. ■ It is thanks to CERN that Europe continues to play a leading role in the world when it comes to the physics of elementary particles, but also in some other areas of particle physics. How can that advantage be preserved?

future CERN experiments at much higher energies. The ongoing LH-LHC programme upgrade has already enabled CERN to take a leading role in the following decades. The concept for building the new Future Circular Collider (FCC), which will be more than three times bigger (100 km circumference) than the existing LHC complex at CERN, has been considered and already adopted by the CERN Council within the scope of the plan of the European Strategy for Particle Physics. It should guarantee CERN’s long domination, as the first stage of FCC would become operational after 2040 and will offer the most advanced particle physics programmes for new generations of scientists worldwide for another 20 years or more.

BUSINESS

DRAGANA ATANASOV POPARIĆ, EXECUTIVE DIRECTOR,

HEAD OF SERBIA, DEPUTY HEAD OF SWITZERLAND, AT NICOLL CURTIN

HUNGRY FOR

NEW CHALLENGES Nicoll Curtin is an international recruitment company that has been specialising in information technology and change since 1999 and has a long tradition of operating on the markets of Switzerland, the UK and Singapore

ompanies that are creative, put effort into their employees’ learning and development, offer clear career progression, improved benefits and perks, and which have strong cultural values, are winners ~ Dragana Atanasov Poparić

■ Nicoll Curtin operates in the tech industry, which is in very high demand. Does this create challenges for you? - All markets where we operate are currently going through the same challenge, which is a shortage of suitable candidates. This trend will continue, given that the industry is still in the expansion phase. This makes it difficult for companies to attract and retain talent in the current environment, but we work to enable our clients to overcome these challenges. We focus on quality and always keeping up-to-date with tech sector developments, as well as refining our trailblazing approach to recruitment.

■ Could you provide us with an overview of your business? What is particularly important to you? - It was three years ago that we opened our Serbia office, which is also our Centre of Excellence. From Belgrade we provide support to the global operations of Nicoll Curtin in areas such as recruitment, finance, human resources and administration. We take pride in the way we operate and provide clients with services. The focus is on the quality and integrity of our work. We prioritise ensuring Nicoll Curtin employees have the best environment, resources and opportunities available to them. If they are happy and satisfied, our clients and candidates will be too. ■ How do you rely on Swiss examples of good practice? We know the ways in which two markets differ, but they also certainly have a lot in common. - Belgrade team has predominantly been built and trained in alignment with the high standards of quality of our Swiss business. Zurich and Belgrade team collaborate daily, and it is thus essential that processes and skills are aligned. The Belgrade office has adopted the efficient use of systems and extreme diligence from our Swiss operations. Having spent eight years working on the Swiss market, I have learnt that speed and efficiency of work can indeed be combined. It isn’t required to compromise on one to ensure the other. This is another really

We focus on quality and always keeping up-todate with tech sector developments, as well as refining our trailblazing approach to recruitment important principle for our Belgrade office. What we have in common in both countries is openness to innovation and hunger for new challenges. I believe that our business model showcases how fantastically the two professional cultures and talent capacities can merge and mutually benefit.

■ The pandemic showed that it is possible to work from home very effectively, which is why many employers and workers are now choosing this option. Are there any other global trends in employment? Is it difficult to retain a good employee? - Hybrid work is a standard now. Due to the huge competition, companies need to do more to retain good employees. I would say that companies that are creative, put effort into their employees’ learning and development, offer clear career progression, improved benefits and perks, and have strong cultural values – are winners. This is a long checklist for businesses, but the offer of a good salary is no longer the single main reason for someone to stay in their job. This is why we, at Nicoll Curtin, have been investing in upskilling our people, making them feel both challenged and part of something bigger. We are really proud that many of our senior management personnel joined Nicoll Curtin as trainees and that 75% of our people progress from junior positions within the first six months and are able to develop their careers further, in their direction of choice. BUSINESS PARTNER | SWITZERLAND 2022

BUSINESS

OLIVER STREIT, HEAD OF THE EDUCATION TO EMPLOYMENT PROJECT, NIRAS – IP CONSULT GMBH

E2E LEADS TO TRIPLE-WIN A total of 1,678 young people have so far completed 127 on-the-job training programmes, with more than 77 per cent of the young people who completed the training immediately gaining employment within the same company. The results of E2E are seen through young people who are satisfied to have gained employment and companies that are happy to find motivated young workers overwhelming interest, with the E2E fulfilling a niche and leading to a triple-win,” says E2E Project Director Oliver Streit. This eight-year project has a total value of 28.7 million euros and the 2nd phase (2020-2023) has seen Switzerland and Serbia continue to contribute jointly to

Based on the experiences of the 132 companies involved in this training in previous years, we see overwhelming interest, with the E2E fulfilling a niche and leading to a triple-win

he “Education to Employment” (E2E) project, a multi-annual partnership project of two governments, Swiss and Serbian, which was designed to support the development of an environment conducive to improved youth employment, published a new April 2022 call for employers, entitled “Employees to Fit your Business”. Since 2016, together with the relevant ministries and institutions, the private sector, CSOs and local governments, the E2E project has been advocating the improvement

of employment policies that would enable young people to gain an inclusive and sustainable position on the labour market. “I believe that the response of employers within the scope of the fourth call, Work-Based Learning (WBL) Training Platform, is now already astonishing and indicates that more companies are seeking qualified young workers, which is an area where the E2E - with its structured approach to training - has proven successful. So far, based on the experiences of the 132 companies involved in this training in previous years, we see

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project implementation, namely the Swiss Government with 8.9 million euros and the Government

of Serbia with 4.5 million euros. A total of 1,678 young people have so far completed 127 on-the-job training programmes, with more than 77 per cent of the young people who completed the training immediately gaining employment. “We want to influence the modernisation of youth employment, so that by learning through practical work young people will acquire skills that are in demand and that will help them find their future job faster and easier. At the same time, we help companies find new and adequate personnel who will acquire the necessary competencies required on the labour market. This is a unique opportunity to create a youth employment support system that’s tailormade just for Serbia, and our results are seen through satisfied, employed young

people, as well as through happy companies that find a motivated, young workforce,” says Streit.

WBL TRAINING IMPACTS ON YOUTH AND COMPANIES At the Stax company in Čačak they note that organising training through projects like “Education to Employment” is the only way to reach workers suitable for the specific requirements of the workplace. They are satisfied with the personnel they trained, and Guča local Rajko Stanić was hired immediately after completing the training. “I learned the most from my mentor, as well as working on the machine and simulators. I was very proud when, after three and a half months of training, I was able to work independently on

the machine and when I took the processed piece in my hands, done without anyone's help. This kind of training is an ideal opportunity for young people who need to get a job,” explains young Rajko. The welder job profile tops the list of occupations that are in short supply in Serbia, and it is true that those who have this trade under their belt can choose any job they want. However, there are few young people wanting to learn this vital trade. In cooperation with the “Education to Employment” project, company DMV from Niš opened its doors to four future welders, with 25-year-old Marija Nešić also training for this job. “I've wanted to learn this job since I was little, but no one ever had the time to show me. Then I saw the advertisement for the

'Education to Employment' programme and decided to apply, so here I am today. My wish came true, and I started the new year getting to learn a new, practical skill,” said Marija, adding that she likes the job and the team very much and now couldn’t imagine working anywhere else. “This is not an easy job, but when you love something, it isn’t difficult. A steady hand is required, the work is interesting. It's very similar to embroidery or crocheting, with the added fact that there are sparks, and I'm not afraid of sparks,” she added with a laugh. Požega-based company Inmold participated in the implementation

WBL TRAINING PROGRAMMES WILL BE ORGANISED IN 12 DISTRICTS Within the scope of this call, the E2E project provides financial and technical assistance to pri-

but not excluding other potential participants, particularly from vulnerable groups. This support programme will assist employers in the process of selecting, training and recruiting new workers. The E2E promotes decent work and will particularly incentivise employers who offer trainees suitable employment conditions. A total of 75 million dinars has been earmarked for this call. The training budget will be the result of joint funding, with employers, entrepreneurs, micro firms and small companies participating with a minimum of 30 per cent of the total budget, while medium-

vate sector employers in need of competent labour through the organisation of various work-based learning opportunities via the WBL Training Platform for current or future jobseekers, focusing mainly on young people aged under 30,

sized and large companies will provide a minimum of 50 per cent of the total training budget. More information about the Call and how to apply can be found at https://znanjemdoposla.rs/currentcall-call-2022.

enter our system and to become independent in their work,” said Tomislav Miletić, Inmold’s main mentor of practical teaching. Tomislav points out the continuity of training as a key advantage of the E2E programme, as it is carried out according to a preprepared plan and the knowledge imparted to young people is systematised.

Continuity of training is a key advantage of the E2E programme, as it is carried out according to a preprepared plan and the knowledge imparted to young people is systematised of the E2E WBL training for the first time in 2021, after which it employed 24 trainees as CNC operators and plastic injection technicians. “We need young people who want to work, to learn and live from the knowledge gained. The young people who came to the company through the E2E project were motivated to learn, to

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INTERVIEW

ANA GRUJOVIĆ, EXECUTIVE DIRECTOR OF THE SWISS-SERBIAN CHAMBER OF COMMERCE

DYNAMIC YEAR FOR SSCC This year was marked by an increase in the number of chamber members, expansion of the network of institutional partners in Switzerland and the continuation of successful cooperation with existing institutional partners

fter a break of two years, the SwissSerbian Chamber of Commerce returned to organising physical gatherings of members and reduced the number of “online” events, which was welcomed by many members. “The possibility of meeting and talking directly, live, with representatives of the Swiss-Serbian business community, as well as with members of the wider business community, has been missed the most by company representatives since the outbreak of the pandemic,” says Swiss-Serbian Chamber of Commerce Executive Director Ana Grujović. SSCC members were invited in March to participate in a business networking event that was organised in cooperation with other bilateral chambers during the Kopaonik Business Forum and sponsored by two SSCC member companies: Roche and Tomic Sinđelić Groza - TSG law firm. Additionally, Grujović notes, some online events are still being held, such as the webinar “Measures of active employment policy and financial support for companies”, organised in cooperation with the National Employment Service of the Republic of Serbia and bilateral chambers. “It is also important to mention the webinar on the ICT sector, which was organised in cooperation with Switzerland Global Enterprise and colleagues from the Bulgarian-Swiss and Romanian-Swiss chambers. A novelty linked to this event is that it also provided participants with the possibility of virtual B2B meetings,” explains Grujović. Similarly, a novelty of the work done during the course of this year includes the expansion of the number of SSCC members, expansion of the network of institutional partners in Switzerland and the continuation of successful cooperation with existing institutional partners. ■ Judging by your website, one would say that the time has come for so-

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cialising, networking and meeting. Which of these activities have your members been missing the most? - Expanding the network of business contacts has always been exceptionally valued by SSCC members. Our events provide companies with the opportunity not only to establish direct contact with representatives of Swiss companies operating in Serbia, but also to present their own business activities and launch new business initiatives. For example, a gathering of members held in March

was hosted by company Merkle. Moreover, SSCC events are often attended by representatives of state organisations, both Swiss and Serbian. We had the honour of having the SSCC networking cocktail party held in May at La Cucina restaurant being attended by H.E. Ambassador Urs Schmid. That event also provided an opportunity to meet new chamber members. This year we had the satisfaction of seeing the SSCC membership enriched with the addition of successful

TRANSPARENCY Legal certainty and transparency in operations are two crucial points for attracting and retaining foreign investors, Swiss included

NETWORKING

COOPERATION

Our events provide companies with the opportunity to establish direct contacts with representatives of Swiss companies operating in Serbia and to launch new business initiatives

In our opinion, establishing contacts with as many business organisations in Switzerland as possible is important to the further development of Swiss-Serbian business cooperation

companies like Stadler Rails, Kuhne Nagel, Prodyna, Holycode and numerous others. Finally, events organised in cooperation with other bilateral chambers in Serbia, such as the “Speed Business Meeting” held in April, enabled SSCC members to meet and get acquainted with member companies of the Italian-Serbian Chamber of Commerce, the German-Serbian Chamber of Commerce and the Hellenic Business Association in Serbia. ■ You recently signed a Memorandum of Cooperation with the Geneva Chamber of Commerce. What does this document mean for advancing Serbian-Swiss economic relations? - It was last year that the SSCC brought the decision to launch the process of expanding its network of institutional partners in Switzerland and established initial contact with the Chamber of Commerce of Geneva. Following a year of independent work, the SSCC managed to secure an accord with the Geneva Chamber of Commerce, which brings together more than 2,500 companies, to approach the organising of joint events, as well as signing a memorandum of cooperation. We are extremely proud that this SSCC initiative was implemented exclusively with the use of the chamber’s own resources, which resulted in the staging of the event “Market Focus Serbia”, with the aim of presenting the economic potential of the Serbian market to potential Swiss investors from the canton of Geneva. The event began with the signing of a memorandum of cooperation with which the signatories, the SSCC and the Geneva Chamber of Commerce, committed themselves to strengthening cooperation, regularly exchanging information and providing support to entrepreneurs interested in contributing to the further strengthening of Swiss-Serbian business relations. The Geneva Chamber of Commerce was established as far back as 1865 and represents one of Switzerland’s oldest cantonal chambers. It is also one of the most influential business organisations of the canton of Geneva, with its member companies creating approximately 133,000 jobs.

We are extremely proud that the SSCC initiative to establish cooperation with the Chamber of Commerce of Geneva was implemented exclusively with the use of the chamber’s own resources, and with the aim of presenting the economic potential of the Serbian market to potential Swiss investors from the canton of Geneva ■ How much have investors from the canton of Geneva been present on the Serbian market to date? What do you expect from the “Market Focus Serbia” seminar? - Among the most important investors from the canton of Geneva, it is certainly necessary to mention company Nestle, which marked the completion of the first phase of construction of its new factory in Surčin in February, which will produce plant-based food. A total of 67 million Swiss francs has been invested in the construction of this second Nestle factory in Serbia, which will sprawl over an area of around 18,000 square metres and is yet more proof of the commitment to the local market of this investor from the canton of Geneva. Alongside this, I would also like to mention company Petite Geneve Petrovic, the official representative of Rolex watches in Serbia. The Market Focus Serbia seminar marked the first step in SSCC-Geneva Chamber of Commerce cooperation. The next step was the visit

of CCIG general director Vincent Subilia, who accepted the SSCC’s invitation to visit Belgrade for the first time. This occasion provided him with the opportunity to present CCIG activities to SSCC member companies, but also to meet representatives of Swiss-Serbian state institutions and to visit the shop of the official representative of Rolex watches, Petite Geneve Petrovic. ■ How attractive to Swiss investors has Serbia's approach to encouraging foreign investments to date proved to be; and what, in the opinion of your members or future investors, should be innovated? - In our opinion, establishing contacts with as many business organisations in Switzerland as possible is important to the further development of Swiss-Serbian business cooperation. The SSCC took an important step forward in this regard this year by adding, based on its own initiative, the Geneva Chamber of Commerce to its network of institutional contacts in Switzerland. BUSINESS PARTNER | SWITZERLAND 2022

SWISS-SERBIAN CHAMBER OF COMMERCE

SSCC ACTIVITIES

WORKING VISIT OF GENEVA CHAMBER OF COMMERCE DIRECTOR GENERAL In early July 2022, at the invitation of the SSCC, Geneva Chamber of Commerce Director General Vincent Subilia made his first visit to Belgrade. The visit provided him with an opportunity to present the canton of Geneva to SSCC members and hold direct discussions with companies on possibilities for further cooperation. Together with SSCC President Majo Mićović and H.E. Ambassador Urs Schmid, Mr Subilia participated in a meeting with Serbian Prime Minister Ana Brnabić. The meeting saw PM Brnabić introduce her interlocutors to the good business climate in Serbia and present areas of the economy deemed as being favourable for investment, with special emphasis on digitalisation, artificial intelligence and biotechnology. 30

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presented with economic developments and trends in Serbia, the experiences of Swiss companies already operating successfully in Serbia, as well as various benefits available to foreign investors in Serbia. The seminar was opened by H.E. Goran Bradić, ambassador of the Republic of Serbia to the Swiss Confederation, who welcomed the initiative as a significant step in the further advancement of economic cooperation between the two countries. ---------------------------------------------------------------------------SSCC NETWORKING COCKTAIL PARTY An SSCC business networking cocktail party was held at La Cucina restaurant in May. The event’s guest of honour was H.E. Ambassador Schmid, who gave a welcome address. SSCC members had an opportunity to learn more about the activities of their colleagues, meet new members and establish new business contacts.

A visit to Petite Geneve Petrovic, the official distributor of Rolex watches, was also organised. ---------------------------------------------------------------------------GENEVA CHAMBER OF COMMERCE HOSTS MARKET FOCUS SERBIA SEMINAR

The Swiss-Serbian Chamber of Commerce signed a Memorandum of Cooperation with the Geneva Chamber of Commerce in June 2022. Following the signing, a seminar entitled “Market Focus Serbia” was held and saw companies operating in the Geneva canton

---------------------------------------------------------------------------WEBINAR “ACTIVE EMPLOYMENT POLICY MEASURES AND FINANCIAL SUPPORT TO COMPANIES” A successful online meeting between 12 bilateral business associations in Serbia and the National Employment Service (NES) was held on 17th March. More than 100 companies that are members of associations had the possibility to discover more about ongoing employment and entrepreneur financial support programmes. NES representatives informed participants about all novelties within the scope of the active employment policy measures programme, amounts of financial support available to employers, categories of unemployed persons who can be engaged, as well as other benefits that can be achieved through cooperation with NES. The event was organised under the joint initiative of the French-Serbian, German-Serbian and Swiss-Serbian chambers, the Chamber of Italian-Serbian Businessmen, the Dutch-Serbian and Belgian-Serbian business associations, the Slovenian and Croatian business clubs, the Hellenic Business Association, the Canadian-Serbian Business Association, as well as the Japanese and Nordic business alliances. BUSINESS PARTNER | SWITZERLAND 2022

WORKING BREAKFAST “SHORTENING THE WORKING WEEK AND REWARDING EMPLOYEES”

A working breakfast was organised in cooperation with SSCC member law firm Tomić Sinđelić Groza - TSG. The appropriate rewarding of employees is constantly topical, while there is currently increased interest in understanding the mechanism related to the possibility of acquiring company shares, which the recent amendments to the Law on Companies introduced as part of regulatory changes. The entire presentation was also given a tax context, with participants able to hear about the most important tax breaks currently existing, but also new tax incentives that are available to companies for hiring young people, but also for research and development activities. SPEED BUSINESS MEETING A Speed Business Meeting was held in Belgrade in April and included the participation of members of four bilateral chambers: the German-Serbian Chamber of Commerce (AHK), the ItalianSerbian Chamber of Commerce (CCIS), the Swiss-Serbian Chamber of Commerce (SSCC) and the Hellenic Business Association (HBA). The event brought together almost 50 representatives of member companies from various business sectors.

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INTERNATIONAL COFFEE BREAK

Within the framework of the Kopaonik Business Forum, nine bilateral associations in Serbia brought together representatives of their member companies at the already traditional event called “International Coffee Break” held in the Hotel Grand’s Casa Restaurant. The event was sponsored by two SSCC members companies: Roche company and law firm Tomić, Sinđelić, Groza - TSG. This third International Coffee Break provided guest participants in the Forum with the opportunity to get acquainted, network, and exchange experiences and ideas. The event was simultaneously also an opportunity to meet representatives of bilateral associations in Serbia and discover more about opportunities for cooperation, activities and plans. MANAGING THE SECURITY OF INFORMATION SYSTEMS A webinar on the topic of cyber security was held in March, in cooperation with SSCC member company Sky Express and together with the German-Serbian Chamber of Commerce and the Italian-Serbian Chamber of Commerce. The webinar marked the first in a series of webinars aimed at demonstrating the importance of the security of information systems and ways to handle challenges posed by information security.

ROUNDTABLE “DIGITAL TRANSFORMATION OF THE HEALTHCARE ECOSYSTEM – ONE YEAR LATER” An online roundtable entitled “Digital Transformation of the Healthcare Ecosystem - One Year Later”, organised by the Swiss-Serbian Chamber of Commerce and SSCC founding member company Roche Serbia, was opened by H.E. Urs Schmid, Swiss ambassador to both Serbia and Montenegro. Welcoming participants, he said that this roundtable marked the latest step in efforts aimed at better understanding the implications of the digital transformation of healthcare and enabling discussion on how this transformation can be further implemented to the benefit of more effective healthcare protection.

Alongside SSCC President Majo Mićović and Roche Serbia and Montenegro CEO and SSCC Vice President Ana Govedarica, the event was also attended Dejan Kovačević, advisor for Digital Health in the Cabinet of the Serbian Prime Minister, Dr Nick Guldemond, Senior Researcher at Leiden Medical University (Netherlands), I. M. Sechenov First Moscow State Medical University and Roche partner globally, Branko Radulović, full professor of economics and economic analysis of law at the University of Belgrade Faculty of Law, and Mirko Jokić, member of the board of the Serbian Haemophilia Society. ---------------------------------------------------------------------------ICT NEARSHORING IN ROMANIA, BULGARIA AND SERBIA – WITH B2B MATCHMAKING January saw the staging of a webinar on the topic of presenting the local market’s ICT sector potential to Swiss companies, in cooperation with Switzerland Global Enterprise. This ICT sector webinar was jointly organised together with colleagues from the Bulgarian-Swiss and Romanian-Swiss chambers. One novel element of this event was that participants were offered the possibility of virtual B2B meetings.

Roche Serbia and Montenegro CEO and SSCC Vice President Ana Govedarica noted that we today receive huge amounts of data that can help us to significantly improve medical treatments. Information is today collected through so-called Real World Data, which includes data from electronic health records and hospital registries, as well as data obtained from various apps. The management of health data is a key task.

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SWISS HEALTH TRENDS

DIGITAL HEALTH GROWTH Switzerland has an increasing number of start-ups in the digital health field. According to the conclusion of a study by ZHAW and Health-Trends, these start-ups focus primarily on technology-oriented offers and doctors, hospitals, insurance companies and pharmaceutical companies as customers

witzerland has a dynamic, rapidly developing start-up landscape in the digital health sector. Of the current total of around 180 to 200 start-ups, the majority are active in the “data health” and “tech health” segments: they offer, for example, digital solutions for evaluating health data or digitally controllable medical technology products. More than half of the start-ups included in the survey are located in the Zurich area and

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have a maximum of five employees. These are the findings of a survey conducted by the ZHAW School of Management and Law and Health-Trends, a Swiss think tank for digital health. The study is based on this online survey of 42 Swiss start-ups. FURTHER GROWTH EXPECTED “We assume that the digital health sector and associated start-up scene will develop rapidly in the coming years. The Covid-19

pandemic is likely to accelerate this trend even more,” says Alfred Angerer, head of the Department of Management in Healthcare at the Winterthur Institute of Health Economics at the ZHAW School of Management and Law. “The high proportion of start-ups in “tech health” and “data health” also illustrates how important high-tech skills are for innovations in the digital health environment. Many start-ups use forward-looking technologies like artifi-

cial intelligence, cloud computing and the Internet of Things. WIDE RANGE OF SERVICES Around three-quarters of the surveyed startups offer digital products and services in core medical areas, such as prevention, symptom recording, information search, diagnosis and therapy. These can be digital symptom testers or online information platforms, for example for searching for doctors and therapists. In terms of content, the solutions are often aimed

Around three-quarters of the surveyed start-ups offer digital products and services in core medical areas, such as prevention, symptom recording, information search, diagnosis and therapy at chronic illnesses like diabetes or cancer, or at psychological complaints. The survey further shows that 80 per cent of the start-ups are active in the B2B sector and focus on hospitals, doctors, health insurance companies or pharmaceutical companies as customers. This is mainly due

to the fact that the willingness of private customers to pay for digital health offers in Switzerland has been rather low to date. Around half of the start-ups already have a well-developed offer of products or services. Another quarter has at least one offer in the

form of prototypes with market demand that’s currently being validated by the companies concerned. Almost 85 per cent of the surveyed start-ups have established cooperation agreements to develop their offer with academic partners.

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ART BASEL IN BASEL 2022

ART IS A CRISIS-PROOF

INVESTMENT & THE JOY OF LIFE

Art Basel is the world’s leading platform connecting collectors, galleries and artists. This year’s edition proved Basel to be a ‘must’, with some true gems of 20th and 21st century art finding admirers and buyers

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n the first full, in-person edition of the fair since 2019, this June’s Art Basel hosted a wide selection of sculptures, paintings, installations and art performances in the city of Basel, among them a number of big-ticket items – such as a $40 million Louise Bourgeois spider, a $22 million painting by Francis Bacon and an exquisite $6.5 million bust by Alberto Giacometti – coming from 289 renowned galleries from 40 countries and territories. In 2020, the 50th edition of the fair in Basel was initially postponed, pushed back to September, only to later be cancelled entirely due to the Covid-19 pandemic, while the 2021 exhibition took a hybrid form. In 2022, 19 galleries from Europe, the Middle East, Africa and the Americas participated for the first time in a mostly live but still hybrid event, thus reaching the widest possible audience both on-site and online. Some of the site-specific works were shown throughout Basel’s Old Town. Art Basel is a for-profit, privately owned and managed, international art fair that’s

staged annually in Basel, Switzerland; Miami Beach; Hong Kong and, as of October 2022, Paris. Founded in 1970 by a trio of Swiss gallerists comprising Ernst Beyeler, Trudl Bruckner, and Balz Hilt, it was their vision that brought together the artists they represented. Their initial idea was to allow local galleries to reach their target market and improve sales, but the event soon grew beyond the parameters of its beginnings. It restored its pre-pandemic glory this June by exhibiting (and selling) some of the most sought-after enigmatic large-scale sculptures, installations and thought-provoking art, proving itself to be the gold standard of contemporary art fairs. It also attracted a total of 70,000 visitors

from all over the world, who were eager to see good and very expensive art. That was slightly below the total of 93,000 visitors who visited Art Basel in Basel in 2019. In the words of the organisers, “Art Basel is a meeting place for artists, art collectors and many celebrities from the art scene. The high-calibre exhibitions showcase various art forms, with works by both modern masters and emerging talents. Art Basel brings the art world to life – which is probably why it is so successful”. This fair is pure joy for the soul and mind for some visitors, while for others it represents a busy shopping season. Based on the volume of sales, it seems as though

Art Basel Paris will take place in October 2022 at the prestigious Grand Palais in Paris. This new project will build bridges with France’s cultural industries – from fashion and design, to film and music. The new fair will initially take place on the Champ-de-Mars, until the 2024 completion of restoration works on the Grand Palais.

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some of the wealthiest collectors were willing to spend more than ever before at this year’s fair. “We knew people would return,” said dealer Thaddaeus Ropac, whose booth included works by Georg Baselitz, Robert Rauschenberg and Roy Lichtenstein. Despite weakening economies, demand for artworks was “stronger than we could have imagined”, said Ropac speaking to members of the press. Another reason for this is the fact that the owners of many of the most expensive artworks, which had been held in private collections for years, assessed demand as being right this spring. The same also occurred in New York and elsewhere this year, with collectors seeking premium prices. In the words of David Zwirner, “sales were strong, and the atmosphere in the opening hours was just like the 38

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Art adviser Alex Glauber told gathered media that he bought multiple works for clients having in mind that the window of opportunity to sell might close soon. He was referring to the nose-diving equity markets, combined with looming rises in rates akin to those seen in 2008 good old pre-pandemic days. Decisions came quickly, with competition for the best works brisk”. Many dealers brought works cooked in their own collections for a while before they decided the time is right to pull them out. Nonetheless, the fair’s second floor, which was filled with galleries selling lower-priced contemporary art, also experienced high demand, despite prices being high. Importantly, these high prices were not connected to inflation, but rather to the quality of works exhibited being far above those seen during Covid-era fairs.

Some experts nonetheless see other reasons for collectors and artist themselves being eager to display their best artworks: a looming crisis. Art adviser Alex Glauber told gathered media that he bought multiple works for clients having in mind that the window of opportunity to sell might close soon. He was referring to the nose-diving equity markets, combined with looming rises in rates akin to those seen in 2008. The experience still suggests that physical assets weathered the crisis better than stock market assets, thus suggesting that being

in art is a better investment. Interestingly, 20th-century masters sold as well as some emerging artists. Consider that Louise Bourgeois’s Spider (1996) sold for $40 million – up nearly $8 million on the artist’s auction record set at Christie’s in 2019. An Arshile Gorky work on paper, a preparatory piece for his Betrothal paintings from the late 1940s, went for $5.5 million. An early 1940s Francis Picabia painting of bathers sold for $4 million; Mark Bradford’s new mixed-media Cobra (2022) sold for $3.5 million; and George Condo’s oil on linen Large Reclining Nude, also from this year, sold for $2.8 million. Other paintings sold includes works by Frank Bowling ($2.75

million), Philip Guston (two works at $2.5 million each), and Glenn Ligon ($2 million), and another Bourgeois — this one a dye, drypoint, ink and embroidery on cloth piece — went for $1.1 million. John Flag (1965–66) sold for $3 million, Milton Avery’s colourful waterside Bikini Bather (1962) went for $2.5 million and Lynda Benglis’s Power Tower (2019) was snapped up for $1.2 million, Hannah Wilke’s snaking sculpture Rosebud (1976), sold for $1.5 million. Ed Clark’s lush New York Ice Cream (2003) sold to a private collector for approximately $1.2 million. Art Basel 2023 is scheduled to take place from 15th to 18th June 2023.

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SWISS PRODUCTS

TASTE OF TRADITION

AND LUXURY

Switzerland is a veritable paradise on Earth. That is undeniable. When travellers visit this paradise, they would also like to taste the best Swiss flavours, to match the level of fantasy it creates. Switzerland does have some of the best products that are luxurious and make travellers feel high class

OONA – PURE SWISS ALPINE CAVIAR At the foot of the Bernese High Alps lies the Tropenhaus Frutigen, the production site for Oona, pure Swiss Alpine caviar. Mountain water, fish farming and a tropical garden – a harmonious trio under one roof and with three times the appeal, along with an innovative energy concept. Oona is the first Swiss caviar produced from sturgeon bred in naturally warm mountain spring water. “Oona”, derived from 40

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Celtic, means uniqueness and genuineness, so it’s no wonder that you are able to feel the exceptional nature of each grain of caviar. BREGAGLIA CHEESE OF SWITZERLAND An entire country is dedicated to producing high-quality cheese. Dairy farmers lead their cows up the Swiss mountainsides each spring, encouraging them to graze in the meadows and natural pastures. The cows thus trim and fertilise the fields, which keeps

the Swiss countryside looking as vibrant and green as a postcard. This practise also ensures that all dairy products in Switzerland are sourced from grass-fed animals. Milk from grass-fed animals is more flavourful than conventional milk, which makes for better cheese. Authentic to the Val Bregaglia, a valley pass that connects Italy and Switzerland, Bregaglia cheese is slightly sour and has a stunning natural rind. This cheese’s uniquely delicate flavour can only be produced in the Val Bregaglia from milk supplied by local farmers. THE FAVARGER ETHOS High standards, an appreciation for both tradition and innovation, the courage to try new things – these are all characteristic that make the Favarger Manufacture stand out, and further supporting this claim is the fact that Favarger has been honoured by all chocolatiers throughout the generations. Favarger has preserved its legacy and knowhow by passing the tradition down to new

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generations, interweaving it into its new products and combining it with innovation. Favarger is a Swiss chocolate making company located in Versoix, Canton of Geneva, Switzerland, that was founded in 1826 by Jacques Foulquier. LINDT, CHOCOLATE PIONEERS It all began with the opening of David Sprüngli’s small confectionery in Zurich. The business grew quickly, thanks to Sprüngli’s entrepreneurial spirit and passion for chocolate, and Sprüngli soon achieved renown among chocolatiers. Lindt & Sprüngli is today a household name signifying bliss, quality and chocolate delight the world over. The company has expanded its brand portfolio over the years and ventured abroad, acquiring other chocolate businesses. Despite its global growth, Lindt &

Vinification in oak barrels lends them all the complexity and aging potential of wines worthy of the finest occasions. EDIBLE ALPINE WILD FLOWERS One of the most wonderful things about hiking through the Alps are the wild flowers. In summer, petals displaying all the colours of the rainbow fill mountain meadows everywhere, and hikers encounter countless different species growing right beside the hiking trails. Wild flowers surely brighten the trail, but did you know that they can also brighten up your salad? Adding wild flowers to your salad really adds something special. Lettuce forms the base of the salad, while various species of Alpine mountain wild flowers can be added. Rosebay willowherbs, common mallows, harebells, wild thyme and oxeye daisy petals all add their wonderful colours to this delicious salad.

Sprüngli maintains its Swiss roots – in fact, the Swiss remain the biggest champions of this brand, with each citizen consuming an average of one Lindor truffle a day. ALPINE APPEAL: GERMANIER Swiss wines might not be well-known beyond the country’s borders, but Switzerland boasts a wealth of characterful viticultural areas and many autochthonous grapes. Few wine lovers are fully aware of Switzerland’s viticultural beauty. This country of Alpine peaks, countless lakes, velvet green pastures and even palm trees boasts some of the world’s most dramatic and breath-taking vineyard vistas. These are wines at their highest level of character and expression, and only the best vineyards – capable of yielding the most noble and concentrated fruit – are selected. 42

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Switzerland - Serbia 2022

Articles inside

TASTE OF TRADITION AND LUXURY

SSCC ACTIVITIES SWISS-SERBIAN CHAMBER OF COMMERCE

DIGITAL HEALTH GROWTH SWISS HEALTH TRENDS

ART IS A CRISIS-PROOF INVESTMENT & THE JOY OF LIFE

ANA GRUJOVIĆ, EXECUTIVE DIRECTOR OF THE SWISS

OLIVER STREIT, HEAD OF THE EDUCATION TO EMPLOYMENT PROJECT, NIRAS – IP CONSULT GMBH

DRAGANA ATANASOV POPARIĆ, EXECUTIVE

MAJO MIĆOVIĆ, PRESIDENT OF THE SWISS-SERBIAN CHAMBER OF COMMERCE

VINCENT SUBILIA, DIRECTOR GENERAL OF THE GENEVA CHAMBER OF COMMERCE, INDUSTRY AND SERVICES (CCIG)

H.E. URS SCHMID, SWISS AMBASSADOR TO SERBIA

SANJA PEŠIĆ, CEO, ALMA QUATTRO

MARINKO UKROPINA, SGS GROUP MANAGING DIRECTOR FOR SERBIA, CROATIA, SLOVENIA, BOSNIA&HERZEGOVINA AND MONTENEGRO

PETAR ADŽIĆ PH.D., SERBIA’S SCIENTIFIC DELEGATE IN CERN COUNCIL

CATCHING FISH COMMENT

OLIVER MARJANOVIĆ, CEO, ENJOY.ING VIEWING THE TOPIC IN 360 DEGREES