HUNGARY
Serbia-Hungary Strategic Cooperation Council
TAMÁS SULYOK
The President of Hungary visited Serbia
Member of Parliament in the National Assembly of the Republic of Serbia Focus
H.E.
MAGYAR the Ambassador of Hungary to Serbia
THE HOUSE OF MUSIC
The House of Music Hungary (Magyar Zene Háza) is an iconic cultural venue in Budapest’s City Park (Városliget). Designed by Japanese architect Sou Fujimoto, it opened in January 2022 as part of the Liget Budapest Project, an ambitious urban development initiative. The building is celebrated for its unique architecture. Its perforated roof allows natural light to filter through, creating a connection between the indoors and the surrounding park. Trees surround the structure, blending harmoniously with nature.
Photo: Stefano Ember / Shutterstock
FocusON HUNGARY
NOveMbeR 2024
sPEcIAL EDITIon oF
MAGAZInE
FOLLOW US TO STAY UPDATED
Editor
DRAGAN NIKOLIĆ dragan.nikolic@color.rs
Journalist MIJAT KONTIĆ
Photo GORAN ZLATKOVIĆ, SHUTTERSTOCK, SÁNDOR PALACe / bY GYULA bARTOS THe GOveRNMeNT OF HUNGARY / PRIMe MINISTeR’S OFFICe
This special edition was created cooperating with the Embassy of Hungary in Serbia. We extend our heartfelt gratitude to H.E. József Magyar, the Ambassador of Hungary, and Ms Hetei-Vizi Éva, Second Secretary
16
SERBIA-HUNGARY STRATEGIC COOPERATION COUNCIL
ALEKSANDAR VUČIĆ
The President of the Republic of Serbia
20
BUILDING BRIDGES
H.E. JÓZSEF MAGYAR
the Ambassador of Hungary to Serbia
24
DIPLOMACY
THE EVERGROWING FRIENDSHIP OF TWO COUNTRIES
The President of Hungary visited Serbia 26
FEATURED INTERVIEW
BÁLINT PÁSZTOR
Member of Parliament in the National Assembly of the Republic of Serbia
30
BILATERAL COOPERATION
A MODEL OF ECONOMIC AND ENERGY SYNERGY
Chamber of Commerce and Industry of Serbia
Cover page photo:
A minimalistic white modern building interior with a spiral staircase. Modern architecture interior design. House of Music Budapest, Hungary. Photo: cvesper_stepan / Shutterstock
SERBIAN PRESIDENT ALEKSANDAR VUČIĆ STRENGTHENS TIES WITH HUNGARY
Serbia and Hungary Discuss Future Collaborative Projects
In a significant diplomatic event, the President of the Republic of Serbia, Aleksandar Vučić, participated in a formal dinner hosted by the President and Prime Minister of Hungary, Tamás Sulyok and Viktor Orbán. The occasion was marked by Vučić’s announcement on his Instagram account, highlighting the importance of the gathering.
Vučić emphasised that the event provided another valuable opportunity to reinforce the partnership, personal relationships, and camaraderie between Serbia and Hungary. He noted that the discussions also focused on exploring new collaborative initiatives.
“The exceptional hospitality of our Hungarian friends characterised the day in Budapest. The working meetings and the dinner featuring excellent cuisine, wines, and traditions that unite Hungary and Serbia symbolise mutual respect and a shared commitment to further developing bilateral relations,” Vučić stated.
He reiterated that the event was another chance to strengthen the partnership, personal connections, and friendship and discuss new joint initiatives that will contribute to even stronger cooperation. These efforts aim to lay the foundations for closer ties and a better future for both countries and their citizens.
“All this was done on the initiative and with the enormous energy and authority of Viktor Orbán,” Vučić mentioned on his Instagram profile.
Vučić also highlighted the significant shift in Serbs’ attitudes towards Hungarians and Hungary, pointing out that Viktor Orbán enjoys considerable popularity in Serbia.
“We are deepening those ties with bilateral agreements but also addressing the challenges we face together. Our connections are becoming deeper - fundamentally, structurally, politically, economically, and interpersonally,” Vučić remarked.
He expressed his gratitude for the opportunity to discuss the interconnection of the two countries in the energy sector, including investments in gas power plants, the construction of transmission lines, and the development of the Pannonian Corridor network.
THE EXCEPTIONAL HOSPITALITY OF OUR HUNGARIAN FRIENDS CHARACTERISED THE DAY IN BUDAPEST
“Serbia will always be a reliable partner of Hungary because we know that we will always have a
friend in Hungary, just as they can rightfully expect the same from Serbia,” Vučić concluded.
The event highlighted the ongoing efforts to enhance bilateral relations between Serbia and Hungary. The discussions covered various topics, including economic cooperation, energy projects, and cultural exchanges. The leaders emphasised the importance of mutual respect and understanding in fostering a solid and enduring partnership.
The dinner in Budapest was a testament to the close ties between the two nations. It featured a blend of traditional Hungarian cuisine and wines, reflecting the rich cultural heritage shared by both countries. The atmosphere was camaraderie and mutual appreciation, with both sides expressing their commitment to furthering their collaborative efforts.
Vučić’s participation in the event highlighted Serbia’s dedication to strengthening its relationship with Hungary. The discussions aimed to identify new cooperation areas and build on the foundation of trust and friendship. The leaders explored various initiatives to enhance economic growth, improve infrastructure, and promote social development.
The Serbian President’s remarks on Instagram provided a glimpse into the positive dynamics of the meeting. He praised Viktor Orbán’s leadership and acknowledged the significant progress in bilateral relations. Vučić’s comments reflected a sense of optimism and a forwardlooking approach to the partnership between Serbia and Hungary.
The event also served to discuss key issues affecting both countries. Energy cooperation was a major focus, with both sides exploring opportunities for joint investments in gas power plants and constructing transmission lines. The development of the Pannonian Corridor network was also a key topic, highlighting the strategic importance of enhancing connectivity between the two nations.
In addition to economic and energy-related discussions, the leaders also touched on cultural
and social initiatives. They emphasised the importance of fostering cultural exchanges and promoting mutual understanding between the people of Serbia and Hungary. The event provided a valuable opportunity to celebrate the shared heritage and strengthen friendship bonds.
ENERGY COOPERATION WAS A MAJOR FOCUS, WITH BOTH SIDES EXPLORING OPPORTUNITIES FOR JOINT INVESTMENTS
IN GAS POWER PLANTS AND THE CONSTRUCTION OF TRANSMISSION LINES
Overall, the dinner in Budapest was a significant milestone in the ongoing efforts to enhance bilateral relations between Serbia and Hungary. The event highlighted the commitment of both nations to working together towards a brighter future. The discussions and initiatives explored during the meeting are expected to pave the way for even more robust cooperation and contribute to both countries’ overall development and prosperity.
Alexandar Vučić and Viktor Orban at the gala dinner
Photo
Suzana Vasiljević
COMBINING INNOVATION AND EXPERTISE IN
AESTHETIC AND ANTI-AGEING MEDICINE
Redefining beauty with precision, innovation, and a commitment to natural aesthetics
Dr Srđan Prodanović is a specialist in radiology and a certified physician in aesthetic and anti-ageing medicine. In his work, he combines innovative ultrasound diagnostic methods with the most advanced aesthetic protocols. He is an active member of SESIAM (Serbian Association of Interdisciplinary Aesthetic and Anti-Ageing Medicine), the largest association of aesthetic medicine doctors in Serbia. Dr Prodanović is also a participant and lecturer at numerous conferences both domestically and internationally and serves as a national and regional trainer for Sinclair. He is the owner and founder of the “Dr Prodanović” clinic.
What Does a Professional and Moderate Approach to Aesthetic Procedures Entail in Your Clinic?
How Do You Address the Taboo Surrounding Aesthetic Treatments Often Associated With Artificial and Unnatural Results?
We strive to nurture an individual approach to each patient, which means we act as “psychologists” to understand their desires, expectations, and motives for considering an aesthetic procedure. A moderate approach involves subtle improvements that aren’t immediately noticeable, highlighting the most attractive facial features and restoring a fresh, youthful appearance while maintaining a natural look. When someone looks better and more rested, but you can’t pinpoint why—that’s proof that an aesthetic correction has been done properly and with care.
Can You Tell Us More About Energy-based Devices Such as Morpheus8 and Ultraformer III? What Makes Them Effective?
The global trend in aesthetic medicine in recent years involves methods that stimulate the skin and subcutaneous tissues to regenerate naturally. Ultraformer III and Morpheus8 are state-of-the-art devices that stimulate collagen production, improve skin tone and texture, and can even be used for body con-
DR SRĐAN PRODANOVIĆ Specialist in radiology and a certified physician in aesthetic and anti-ageing medicine
ENHANCING NATURAL BEAUTY THROUGH PRECISION AND INNOVATION
touring and reducing localised fat deposits.
Ultraformer III operates using High-Intensity Focused Ultrasound (HIFU) and is the best alternative to surgical lifting, particularly for the lower third of the face, where signs of ageing are often most noticeable. The advantage of this treatment is that it is entirely non-invasive, as it doesn’t penetrate the skin barrier, allowing patients to immediately resume their daily activities after the procedure.
Morpheus8 combines microneedling with radiofrequency. Along with mild tightening effects, it is highly
effective for improving skin texture, reducing acne scars, and minimising stretch marks.
In Your Long Career as a Radiologist and Certified Aesthetic and Anti-Ageing Medicine Specialist, You’ve Encountered Many Trends Among Aesthetic Treatment Users. What Mistakes Do People Often Make When Considering Aesthetic Interventions, and How Can They Avoid Them?
I believe blindly following any “trend” is always a mistake, as the face and body should always be considered holistically, respecting the natural anatomy and the unique features that make someone distinctive. If there are certain imperfections, they should be corrected to enhance facial contours or, for instance, lips, while striving for harmony.
While beauty is often said to be subjective, numerous studies suggest that specific facial and body proportions are universally considered attractive, regardless of geography, race, or even age—children, for example, will find faces with more balanced proportions more appealing.
Another common mistake patients make is wanting to do “everything at once.” Some changes require time and multiple interventions at intervals, allowing the skin to adapt to the new shape and volume.
Your Biography States That You Combine Innovative Ultrasound Diagnostic Methods With the Most Modern Aesthetic Protocols in Your Work. How Does This Translate to the Results Achieved With Clients, and What Sets Your Practice Apart From Others?
Ultrasound provides a precise insight into the structure of various facial skin layers and subcutaneous tissues, making it an invaluable tool in more complex injection procedures and device-based treatments where assessing the depth of energy application is crucial. This enables us to target specific anatomical structures more accurately, achieving significantly better results while minimising the risk of complications
Are There Any Risks Associated With Aesthetic Procedures That Potential Users Should Be Aware Of?
Every procedure, even minimally invasive ones, carries some level of risk. It is crucial that aesthetic interventions are performed by trained and licensed medical professionals who can recognise potential complications early and address them appropriately.
Another essential factor is the patient’s health condition, as there are numerous medical conditions for which aesthetic procedures are contraindicated. Only a doctor specialised in this field can have the necessary knowledge to assess these risks accurately.
22 OCTOBER 2024
HUNGARIAN EMBASSY MARKS
HISTORIC EVENT WITH A WONDERFUL RECEPTION IN BELGRADE
The day serves not only as a remembrance of Hungary’s resistance to oppression in 1956 but also as a celebration of the country’s democratic rebirth
On the eve of the Hungarian National Day, H.E. József Magyar, the Hungarian Ambassador to Serbia, and the Hungarian Embassy organised a memorable reception at the prestigious White Palace in Belgrade. This annual celebration commemorates a pivotal day in Hungary’s history, combining the revolutionary spirit of October 23, 1956, with the declaration of the Hungarian Republic on October 23, 1989.
This national holiday’s dual significance symbolises Hungary’s journey toward freedom, democracy, and national unity. The day serves not only as a remembrance of Hungary’s resistance
to oppression in 1956 but also as a celebration of the country’s democratic rebirth.
The event was held in the elegant and historic surroundings of the White Palace, providing an ideal setting for such a meaningful occasion. Attendees included prominent government officials from Serbia, ambassadors and representatives from various embassies, members of the diplomatic corps, and distinguished international guests from the European Union and beyond.
The reception highlighted the strong diplomatic ties between Hungary and Serbia, reflecting their commitment to fostering regional cooperation and mutual understanding. In his welcoming speech, H.E. József Magyar emphasised the importance of this
historic day and expressed gratitude to the guests for their continued support and collaboration.
The evening featured a rich cultural program that celebrated Hungary’s heritage. Live performances of traditional Hungarian music and artwork showcasing the nation’s vibrant cultural history were featured. Guests were also treated to a curated selection of Hungarian culinary specialities and fine wines, reflecting the country’s gastronomic excellence.
The celebration was a powerful reminder of Hungary’s resilience and progress while strengthening the bonds between the Hungarian and Serbian peoples. It was an evening of reflection, celebration, and unity, perfectly encapsulating the spirit of Hungarian National Day.
BUILDING BRIDGES
HUNGARY AND SERBIA’S
STRATEGIC PARTNERSHIP FOR A STRONGER EUROPE
Ambassador Highlights Hungary’s Resilience, EU Vision, and Deepening Strategic Ties with Serbia
On the occasion of Hungary’s National Holiday, the Hungarian Ambassador to Serbia delivered a compelling speech in Belgrade, highlighting the enduring friendship and strategic partnership between Hungary and Serbia. Through reflections on shared history, economic collaboration, and Hungary’s unwavering support for Serbia’s European integration, the Ambassador underscored the importance of unity and cooperation in building a prosperous future for both nations.
I consider it a great honour to greet our dear guests in such a large number at our reception organized on the occasion of Hungary’s National Day, here in Belgrade.
October 23, 1956 is the national holiday of Hungarians living in the free world. On this day, Hungarians all over the world remember the revolution that broke out in Budapest 68 years ago with a pure heart and a strong sense of belonging. To live in freedom instead of dictatorship, in independence instead of subjugation, in a democratic country with leadership of their freely elected leaders instead of tyranny.
Therefore, respect to the heroes of ‚56!
The Hungarian people really suffered in the 20th century. After the two world wars, what remained intact in 1945 was destroyed in Budapest in 1956, followed with, whether you liked it or not, building of communism. With our past of 33 years of oppression, we became one of the first members of the Euro-Atlantic integration family, joining NATO for the first time 25 years ago. In 2004, exactly 20 years ago, we became a member of the European Union, and we now hold the position of president of its Council for the second time.
HUNGARY STRONGLY SUPPORTS SERBIA’S
EU ACCESSION
The founding fathers made the European Community a success by creating the internal market and the interoperability of borders, and then we continued to build it by adhering to the principle of „united in diversity”. Today, the old continent is once again facing serious challenges. Its peace is made uncertain by the protracted war in our neighbourhood, Ukraine and the Middle East. The European Union’s competitiveness, energy and green transition, migration and future electromobility policies are now characterized by a difficultto-interpret unity. And while we
H.E. JÓZSEF MAGYAR
the Ambassador of Hungary to Serbia
agree that enlargement has become one of the most successful policies of the European Union, which is developing peacefully and securely, hardly any progress has been made in this area in the last 10 years.
That is why the priorities of the Hungarian EU presidency in the second half of 2024 were to strengthen the competitiveness of the Union, the defence industry, a cohesion and farmer-centered agricultural policy, curb illegal migration and, above all, a consistent and merit-based enlargement policy. Hungary’s foreign policy is clear: it stands resolutely in favor of speeding up the accession negotiations with Serbia and the Western Balkan candidate countries. On the international fora, it cooperates closely with Serbia, whether it is about issues on the agenda of the UN or the Council of Europe.
The current Hungarian EU presidency represents a transitional institutional semester. In its first three months, we performed perhaps less spectacular events, but with 14 ministerial council meetings, 27 COREPER II and COREPER I ambassadorial meetings and 645 working group meetings, serious work was still going on. 90 of our 172 presidency events have already been held, and 10,000 foreign guests have participated in our events in Hungary. And the top is yet to come: in two weeks, Budapest will host the summit of the European Political Community and the informal meeting of the European Council, and in December we will organize the EU - Western Balkans summit.
BILATERAL TRADE WITH SERBIA EXCEEDED €5 BILLION LAST YEAR
In the last 10 days of the presidency, positive processes have started: the European Commission agreed with the countries of the Western Balkans on the support program called Growth Plan, it’s first payments will begin shortly, and an intergovernmental conference with Albania and it’s opening of the first cluster took place. We strongly support an intergovernmental conference and the opening of cluster 3 to take place with Serbia during the Hungarian semester. I can assure our Serbian friends that the Hungarian presidency will provide all possible help and assistance. At the same time, we congratulate Serbia on its economic growth, which is an exceptional achievement even compared to some European countries. That is why we say that it would only benefit the European Union to include Serbia as one of its members in a short period of time in this challenging world.
These things are particularly important for Hungary: Serbia is our good neighbor, we have formed a strong friendship with its people, and the leaders and governments of the two countries are guided by thinking in strategic
perspectives. We know the benefits of Serbia joining the EU. If we only think about barrier-free crossing of borders, the competitiveness of our region would be enhanced, and the mobility of Hungarian and Serbian people would increase exponentially instead of waiting at the border.
Relations between Hungary and Serbia reached a milestone this year. It has been a decade since the two peoples, overcoming their historical grievances, entered the level of reconciliation, good neighbourly relations, and then strategic cooperation. This year, the formation of the new Serbian government, Prime Minister Vučević’s message to Hungary during the presentation of the government program, and the fact that the Vojvodina Hungarian Association is a stable coalition partner of the current cabinet, as in previous government cycles, helped a lot. This also required good election results in December and June, which secured the Hungarian party 6 republican and 9 provincial parliamentary mandates, 8 governmental state secretary mandates, as well as the role of president of the Vojvodina parliament. Without the bridge role of the Vojvodina Hungarian and Hungarian Serbian communities, it would be difficult to plan our common future. The leaders of the two countries also take part in it: Serbian Foreign Minister Đuric’s first foreign trip was to Budapest in May, but Serbian defense, energy, European affairs and economic ministers also held talks in Budapest, while our interior and transport ministers visited Serbia several times.
Our speaker of the National Assembly held talks in Belgrade 2 weeks ago, for which we thank the President of the National Assembly Ana Brnabić for her hospitality. Our Prime Ministers exchanged their views in Berlin last week, while President Vucic will meet Prime Minister Orbán Viktor today in Komárno. Two weeks ago, we held the 14th meeting of the Hungarian-Serbian Economic Joint Committee in Budapest, which began preparations for the Budapest meeting in November of the Hungarian-Serbian Strategic Council established in 2023.
In a few days, the President of the Republic of Hungary, Sulyok Tamás, will come to Serbia for an official visit. In August, in recognition of the strengthening of Hungarian-Serbian relations, President Aleksandar Vučić was awarded the highest state award.
Our close relations also have more recent results: our foreign trade was 5 billion euros last year. Hungary is Serbia’s fourth most important foreign trade partner, while among the countries of the Western Balkans, Hungary has the strongest business and trade cooperation with Serbia, with a ratio of 70%. Last November, the train service between Szeged and Subotica started. On the Hungarian side of the Budapest-Belgrade high-speed railway, we laid the last pair of rails of the 150 km main section two weeks ago, and passenger traffic between Belgrade and Subotica will start in Serbia at the end of November. We agreed on the construction of three new crossings and two highway connections. We have extended the opening hours of the small border crossings, and we will soon introduce one-stop passenger traffic control at the Röszke-Horgos highway crossing.
Our energy relations ensure a safe gas supply, and Serbia stores it in safety reserves in Hungarian storage facilities. We have created a Hungarian-Serbian-Slovenian electricity exchange, which will start operating in Budapest at the end of the year. In 2028, we will build the second 400 kV transmission line and we are conducting businessbased negotiations to build a new crude oil pipeline. MOL Serbia opened its 73rd gas station in Serbia. The joint gas trading company SERBHUNGAZ started its work. The company Južna Bačka is strengthening its relationship with MVM, while MVM EGI is carrying out the renovation investment of one of the largest thermal power plants in Serbia in a joint consortium. The Hungarian company Pannonia Bio is building the region’s largest biogas plant in Serbia, and Duna Kút is renovating Belgrade’s clean spawning water supply system. OTP Srbija became the bank with the strongest capital concentration and the best digital service provider in Serbia, while two Hungarian companies have established serious cooperation with their Serbian business partners on the Serbian labour market.
HUNGARY
AND SERBIA’S TIES ARE MARKED BY STRATEGIC COOPERATION AND KEY INFRASTRUCTURE PROJECTS
In addition, many businesses contribute to our economic cooperation. 35 of them are also sponsors of today’s event. We thank them for their cooperation with us. We are glad that your prominent business partners are also our guests tonight.
It is good that we also pay attention to each other’s in terms of leisure activities, which connect Hungarians and Serbs through tourism and sports. Both peoples have a rich tradition. Hungary’s tourism is expected to grow by 5.5% this year, to which Serbian visitors also contribute. We are happy about Air Serbia’s three daily flights to Budapest, which, among others, contributed to the visit of 14.5 million tourists to the Hungarian capital last year and 11.5 million in the first eight months of 2024. In addition to the top 10 most visited Budapest destinations in Europe, we also offer rich rural touristic attractions. We will present them briefly on the screens tonight, while we prepared a taste of our Hungarian heritage dishes for our guests in the Hungarikum Tent set up for this purpose this year.
It is a good feeling that the two peoples are also strengthening each other in sports. Many coaches and players are in the other nation’s teams. We supported each other in this year’s Euro league for our soccer players. Our water polo players competed together at the Paris Olympics, at which Serbia became Olympic champion again, as did Novak Djokovic. Congratulations to them. But we are also happy that Adriána Világos made the hearts of Serbs and Hungarians beat together this August.
The team of the Hungarian Embassy in Belgrade did a serious job again this year, for which I thank my colleagues, but I also thank all our partners and friends in Serbia for their openness and our truly successful cooperation.
Finally, I would like to thank my wife, Laura, for her understanding and patience with my dynamic and versatile work as the ambassador of Hungary in Belgrade.
I raise my glass to the success of Hungary and Serbia, to the flourishing relationship between Hungary and Serbia.
INNOVATION AND SAVINGS
– THE FUTURE LIES IN ENERGY
EFFICIENCY
Driving Energy Efficiency and Sustainability through Innovation and Strategic Partnerships
Energy efficiency and sustainability are imperative, and the company Smart Energy Investment Kft has set new standards in the field of energy services. As a trusted partner to local governments and collaborators, this Hungarian company provides innovative solutions that reduce energy consumption and ensure long-term sustainability. ESCo projects, based on the Energy Performance Contract (EPC) model, invest in energy sustainability. One of the company’s founders and its director, Obrad Tadić, shared his vision of the future of smart cities with us.
What is SEI’s role in today’s energy efficiency market?
Smart Energy Investment is today a respected partner for local governments, public bodies, and various local and international collaborators. We represent a stable, financially sound, and reliable company that implements modern energy solutions and provides long-term energy services.
Was it starting operations in the Serbia complex?
The start of 2016 was far more complex than we anticipated. Much of what we expected didn’t happen, and we had to navigate many challenges on our own. However, this made us stronger and more capable of tackling new business challenges and ventures.
How many projects have you completed so far?
Together with our partners, we have implemented around 30 projects in Serbia and developed over 100 projects in the region. We aim to implement these projects either independently or with partners.
To what extent do you collaborate with companies in the region and europe?
I prefer the term “synergy” instead of “collaboration.” We are synergised with companies from Hungary, Serbia, Slovenia, Austria, and other regional firms.
We are delighted that our partnerships transcend borders, focusing not on territorial or local limitations but on achieving strong energy alignments for optimal synergy.
What are SeI’s results and contributions to the quality of life for Serbia’s citizens?
Regarding results, our collaborators and partners know we usually emphasise the environmental and societal effects. Our main achievements are reducing energy consumption and directly and explicitly lowering costs while improving environmental conditions. Our projects save millions of kilowatthours annually and reduce greenhouse gas emissions by thousands of tonnes. Everything else stems from these effects.
What are your plans for the future?
We expect SEI to continue growing and developing at the same pace, opening new markets and introducing new business models. We are currently developing very exciting multidisciplinary energy efficiency projects related to agriculture, conservation, and sustainable development in every sense. This public-private partnership is designed to synergise within a single project, combining modern technologies with traditional ones to create quality integration, optimisation, and management.
What does the PPP model and technology offer?
Initially, Our idea was not to focus on just one type of technology. Instead, we aim to leverage everything the PPP model offers—the synergy and the inclusion of all resources, especially business know-how, to achieve sustainable development goals (SDGs). We view technologies as tools for fulfilling our goals aligning with state development objectives. Consequently, we approach public lighting systems with the same perspective. Through our projects, exclusively public-private partnerships, we strive to be solid partners to local governments and public entities in achieving their sustainability goals.
You’ve entered the global market, representing Serbia in the best possible way through various projects. What has the world recognised in your projects?
We like to say that our projects represent us and the countries we come from. Thus, with our projects, we represent Serbia, Hungary, and the entire region, as our project partners come from a broader region and are integrated into our solutions. We are recognised as leaders in public-private partnerships. One of our projects in Zaječar was selected two years ago among the ten best projects globally, according to the UNECE methodology, and received special praise for its circular economy and sustainability. We are incredibly proud of that!
SMART ENERGY INVESTMENT’S PROJECTS SAVE MILLIONS OF KILOWATT-HOURS ANNUALLY, REDUCE GREENHOUSE GAS EMISSIONS BY THOUSANDS OF TONNES, AND SET GLOBAL BENCHMARKS FOR SUSTAINABILITY AND PUBLIC-PRIVATE PARTNERSHIPS
OBRAD TADIĆ
Smart Energy Investment, CEO
THE EVERGROWING FRIENDSHIP OF TWO COUNTRIES
The President of Hungary visited Serbia to re-affirm the positive international partnership
On the 28th of October, the President of Hungary, Tamaš Šujok, visited Serbia to meet the President of Serbia, Aleksandar Vučić, and highlight and strengthen the friendly and neighbourly bilateral relations between the two countries.
THe MeeTING AT THe PALACe OF SeRbIA
The visit began with a meeting between the President of Serbia and the President of Hungary in the Palace of Serbia. In his address after the meeting with Šujok, President Vučić said that the Union of Vojvodina Hungarians (SVM) represents for Serbia a bridge of friendship and brotherhood with Hungary and that the policy of respect, mutual respect, friendly and fraternal relations with that country will be continued.
The President of Serbia highlighted the role of SVM and its leader, Balint Pastor, and thanked him for being present today. He stated that he discussed topics such as the position of Serbs living in Hungary, the upcoming
elections in the USA, the situation in Ukraine, and many other issues with the Hungarian president. President Vučić highlighted that Hungary is Serbia’s fourth-largest trade partner, with significant joint projects, such as the Pannonian electricity transmission corridor, expected to be completed by the end of 2028. He emphasised that citizens will significantly benefit from these collaborations.
VUČIĆ NOTED THAT TRADE BETWEEN THE COUNTRIES HAS GROWN FROM 768 MILLION EUROS 12 YEARS AGO TO 3.1 BILLION EUROS LAST YEAR
Vučić noted that trade between the countries has grown from 768 million euros 12 years ago to 3.1 billion euros last year. He also underscored the importance of the highspeed railway between Novi Sad and Budapest and expressed hope for a
All
photos:
Sándor Palace
(Gyula Bartos)
future agreement on a high-speed rail network connecting Hungary, Serbia, North Macedonia, and Greece.
Additionally, Vučić mentioned ongoing efforts to develop high-speed railways to Bratislava and from Budapest to Warsaw and Krakow. He also announced the imminent realisation of the oil pipeline project between Novi Sad and Aldja, with a feasibility study expected to be completed by year’s end.
He also pointed out that Serbia wants a joint electricity exchange with Hungary and Slovenia, adding that we are developing the Pannonian electricity transmission corridor with Hungary, which should be completed by the end of 2028.
The President of Hungary expressed his gratitude to the President of Serbia and the Serbian people for the stable position and orderly circumstances of the Hungarian people in Serbia.
He thanked Vučić for advocating for all initiatives that support friendly cooperation and contribute to the survival of the Hungarian minority in Serbia. He emphasised that it is precisely because of this that it is a great honour for him that he has the opportunity to visit Čurug together with President Vučić and to pay respect to the innocent victims from both sides jointly.
The President of Hungary also stated that Hungary will do everything to ensure that Serbia becomes a full member of the European Union as soon as possible because, as he pointed out, he believes that long-term stability cannot be achieved in the Balkans without European integration.
THE PRESIDENT OF HUNGARY STATED THAT HUNGARY WILL DO EVERYTHING FOR SERBIA TO BECOME A FULL MEMBER OF THE EUROPEAN UNION
VISITING ČURUG
After the meetings, Serbian President Aleksandar Vučić and Hungarian President Tamaš Šujok laid wreaths at the Reconciliation Monument in Čurug, as well as at the “Topalov magazine” Raid Victims Museum. After that, the two presidents attended the blessing of the restored Catholic Church of Snežne Gospe in Žablje.
Pastor and president of the National Council of Hungarians in Serbia, Arpad Fremont, also laid wreaths in the museum. They toured the museum, accompanied by the President of the Provincial Government, Maja Gojković, the Minister of Labour, Employment, Veterans, and Social Affairs, Nemanja Starović, and the President of the SVM, Balint Pastor.
President Vučić stated that Serbia currently has no closer and more excellent ally than Hungary and said that as long as he is involved in politics, he will try not to spoil the good relations between the two nations. The President of the Republic of Serbia expressed gratitude to the Hungarian government for helping restore the temple in Žablje.
He thanked Hungarian President Tamaš Šujok for his visit to Serbia, their support at the UN general assembly, and numerous ongoing collaborative projects in Vojvodina. He assessed that the visit made a new contribution to the creation of better relations between the two peoples and the two countries.
Vučić stated that Hungarian Prime Minister Viktor Orbán and former SVM leader Ištvan Pastor contributed the most to better relations between Serbs and Hungarians, to establishing a sincere and neighbourly friendship between Serbia and Hungary.
Šujok stated that today, the two countries opened a new chapter in their relations, as well as that the restoration and consecration of the Catholic Church of Our Lady of the Snows will become a symbol of HungarianSerbian friendship, that it will strengthen faith in humanity and the common European destiny of the two nations.
Šujok said that the Church of Snežne Gospe was in terrible condition until recently and that today, it is in a completely new guise and full of people.
He added that he and Vučić discussed everything that happened during the Second World War and concluded that the Serbian and Hungarian sides forgave each other for their bad deeds.
The President of Hungary pointed out that the former president of the Union of Vojvodina Hungarians, Ištvan Pastor, contributed a lot to the historic reconciliation of Serbs and Hungarians.
BUILDING BRIDGES, FORGING FUTURES
Bálint Pásztor Reflects on Serbian-Hungarian Reconciliation and Growth
In this exclusive interview, Bálint Pásztor, Member of Parliament in the National Assembly of the Republic of Serbia, illuminates the remarkable progress in Serbian-Hungarian relations, the role of national minorities as bridges between nations, and the unparalleled support offered by the Hungarian state to its citizens in Vojvodina. From historic reconciliation to groundbreaking infrastructure projects, Pásztor highlights the transformative partnership that sets an example for the region and beyond.
During the official visit of the President of Hungary, Tamás Sulyok, it was stated that cooperation with Hungary is at “the highest historical level,” as noted by the President of the Republic of Serbia, Aleksandar Vučić. In your opinion, what is the critical factor behind this successful bilateral cooperation between the two countries?
WE HAVE REACHED THE HIGHEST LEVEL OF COOPERATION; THERE ARE NO OPEN ISSUES OR NEGLECTED AREAS IN OUR RELATIONS
We achieved historical reconciliation 11 years ago and jointly closed the most painful chapters of SerbianHungarian history and mutual relations. I am referring to the horrors of the 1940s during World War II—first, against the innocent Serbian population in 1941-42, and later, in 1944-45 against the innocent Hungarian civilian population. Eleven years ago, we achieved historical reconciliation when the then-president of the two republics, Tomislav Nikolić and János Áder, jointly paid respects at memorials honouring the innocent Serbian and Hungarian victims. János Áder also issued
BÁLINT PÁSZTOR Member of Parliament in the National Assembly of the Republic of Serbia
an apology in the National Assembly of Serbia for the atrocities committed in 1941 and 1942, while our National Assembly adopted a declaration condemning acts against the Hungarian civilian population in 1944 and 1945. Furthermore, Aleksandar Vučić’s government, precisely 10 years ago, on October 30, 2014, annulled two decisions from 1945 that had stigmatised the entire Hungarian community based on the principle of collective guilt or collective responsibility.
By doing so, we succeeded in closing that chapter of our shared past. Since then, we have been able to focus on planning and implementing joint infrastructure and economic projects. I believe that Serbia currently has no better neighbours than Hungary, just as Hungary has no better neighbours than Serbia.
How would you assess the position of the Hungarian national minority in Serbia today?
As part of the ruling majority, through the Alliance of Vojvodina Hungarians (VMSZ), we have been building a strategic partnership with the Serbian Progressive Party for 10 years. Within the institutions of the National Assembly and the government, we address issues related to the position of national minorities. The legislative framework is entirely satisfactory. While there is work to be done regarding implementation, there are no significant issues. Should any arise, we resolve them in collaboration with our partners.
To what extent do the national minorities in both countries contribute to strengthening ties between the Hungarian and Serbian peoples? They have undoubtedly contributed. It is often said that national minorities act as bridges between countries. I wouldn’t say I like to use that phrase because everyone else does. Still, the most significant benefit of such good
relations is for Serbs in Hungary and Hungarians in Serbia, particularly in Vojvodina.
Collaboration exists at all levels, for example, between representatives of Hungarians in Serbia and representatives of Serbs in Hungary. When I was elected President of the Alliance of Vojvodina Hungarians on March 2, my first official guests were representatives and leaders of the Serbs from Hungary. With that, I wanted to communicate clearly that we must prioritise cooperation and support. This ensures the success of all broader collaborations.
Is there any support or assistance from the Hungarian state for citizens living in vojvodina?
That support has significantly increased since Viktor Orbán became
OVER THE PAST EIGHT YEARS, THE PROSPERITATI FOUNDATION HAS INVESTED HALF
A BILLION EUROS IN VOJVODINA, BENEFITING 16,000 APPLICANTS
Prime Minister in 2010. Hungary’s national policy, particularly its approach to national minorities and the Hungarian minority living in neighbouring countries, serves as a model for the entire European continent. As an MP, I have spoken in the Serbian parliament to express that we have no objections when the Serbian government assists its compatriots and Serbian institutions in the surrounding region, as our homeland does the same for us as part of the Hungarian nation.
This support benefits Hungarian institutions in Vojvodina and initiatives on preserving identity, education, culture, and information. I particularly want to emphasise the economic support provided through the Prosperitati Foundation, which has been active in Vojvodina for eight years. Dual citizens can apply for projects funded by the Hungarian government. Over these eight years, approximately half a billion euros have been invested, with around 16,000 successful applicants. These funds have been used to purchase family homes in rural areas and agricultural land, start businesses, and support agricultural producers, entrepreneurs, and companies.
While this assistance may not directly fall under the traditional definition of preserving identity, it undoubtedly contributes to ensuring that we can continue to live and thrive in the areas where we have traditionally resided.
What are your expectations for future cooperation between Serbia and Hungary? Are you satisfied with it, and do you see room for further development?
It is often said that when interstate cooperation includes the national defence issue, it represents the highest level of trust, as there is nothing beyond that. We have reached this highest level. No open issues or areas have been neglected in the past; we have achieved something unprecedented in this part of Europe, and we must preserve it.
More concrete projects focused on infrastructure development and economic cooperation should be implemented to enhance this partnership quantitatively. In terms of quality, I believe it cannot be improved further. One example worth emphasising is Hungary’s position as Serbia’s fourth-largest foreign trade partner. About 15 years ago, Hungary ranked somewhere beyond the 20th place. This demonstrates how much the relations between Serbia and Hungary have improved.
NEVEN SAVIĆ
Chief Financial Officer (CFO), Energotehnika Južna Bačka i Elektromontaža Kraljevoa
SHAPING SERBIA’S ENERGY FUTURE
Driving Innovation and Sustainable Growth in Serbia’s Energy Sector
In this interview, Neven Savić, Chief Financial Officer of Energotehnika Južna Bačka and Elektromontaža Kraljevo, shares insights into the companies’ strategic role in Serbia’s energy market. He discusses the transformative impact of MVM’s investment, the companies’ leadership in green and sustainable projects, and ambitious plans for future growth, both locally and within the broader European market.
Just over two years ago, the Serbian energy market resounded with the news that MVM, Hungary’s national electricity and gas company, had acquired a minority stake in two private Serbian companies, Energotehnika Južna Bačka and Elektromontaža from Kraljevo. From today’s perspective, how do you assess that business move? When I was appointed in 2022 by MVM as the Chief Financial Officer for these companies, I saw it as a logical and standard business decision. However, today, I can confidently call that move revolutionary. By acquiring equity in Serbian companies that are leaders, primarily in the expertise they possess, MVM, to use sports terminology, secured a “season ticket” for the best seat on the Serbian energy market stage. When I say expertise, I don’t only mean technological expertise, which is undoubtedly present, but also expertise in managing capital projects, organizing such
MVM, BY ACQUIRING EQUITY IN LEADING SERBIAN COMPANIES, SECURED
A ‘SEASON
TICKET’ FOR THE BEST SEAT ON THE SERBIAN ENERGY MARKET STAGE
companies, and their readiness to actively participate in reshaping the structure and image of Serbia’s energy sector.
MVM is one of the largest companies in Central Europe, involved in producing, transporting, and distributing, primarily, electricity and gas. The synergy it will achieve with Serbian companies is beyond question.
What primarily defines the leadership position of your companies in the Serbian market?
Thanks to the continuous growth of the Serbian economy in recent years, the state of Serbia has reached a position where it can finance much-needed investments in modernizing energy and utility infrastructure. Considering that such significant projects require, above all, the aforementioned expertise, we see our opportunity here and are building our market position.
I am convinced that a great asset for Serbia is having companies like Energotehnika Južna Bačka and Elektromontaža from Kraljevo, which can successfully execute such complex projects. These companies have a proven track record of successfully completed and ongoing projects, where, as leaders, we have managed to bring together technology providers, major global companies, and predominantly Serbian contractors.
Moreover, these are not just projects directly related to energy infrastructure but also those that contribute to broader societal benefits, such as ecology, mining, and utility infrastructure. We are pioneers in constructing cogeneration plants, and we will showcase the peak of our capabilities by building a trigeneration plant for the “EXPO Serbia” project, bringing technology that only a few countries in Europe can boast.
Among the many large projects we manage, I will highlight just a few: the “Flue Gas Desulfurization at TENT-B,” the “Ash Handling System at TENT-A,” and the “Construction of the BTO System at the Kolubara Basin in Radljevo.” Together with major global companies, we are reshaping Serbia’s future toward sustainable development.
WE ARE PIONEERS IN CONSTRUCTING COGENERATION PLANTS AND WILL DEMONSTRATE OUR FULL CAPABILITIES WITH THE TRIGENERATION PLANT FOR THE ‘EXPO SERBIA’ PROJECT
How do you assess the performance of Energotehnika Južna Bačka and Elektromontaža Kraljevo from the perspective of a CFO? Leading projects of this scale requires not only expertise and strong references but also exceptional financial capacity, which often serves as a decisive factor. Companies lacking this capacity are frequently excluded, giving us a significant competitive edge. Over the past two and a half years, I am proud to say we have greatly enhanced our financial capacity, allowing us to confidently participate in high-value projects.
It is a true privilege to be part of the management of such distinguished companies. I view my role as CFO beyond the traditional scope, aiming to understand the broader business landscape, anticipate potential limitations, and address challenges proactively before they emerge. I also focus on fostering positive energy within the organization, investing in my team, and continuously improving their skills and performance. I am fortunate to work alongside a management team that shares common values and ambitions. Together, we consistently push boundaries and explore new opportunities. The record revenue growth and EBITDA we are set to achieve this year are a testament to our success. I am confident we have set the bar high, but I also see that my colleagues are capable of achieving great things, making this ambition entirely attainable.
What are your projections for the future of your companies?
First and foremost, we anticipate that MVM will acquire majority ownership of the companies next year. We are confident this will give us a new dimension in the market. The transfer of knowledge and technologies from a company of MVM’s scale positions us well to consider and pursue entry into the EU market through Hungary. We have already successfully completed some projects in Hungary, demonstrating our potential.
Meanwhile, in Serbia, the investment cycle will continue, particularly with the “Green Transition” in the energy sector and many other initiatives we eagerly anticipate. Currently, there are no companies on the Serbian market better prepared than us to execute such projects, and we look forward to embracing these new challenges.
BILATERAL COOPERATION BETWEEN SERBIA AND HUNGARY
A MODEL OF ECONOMIC AND ENERGY SYNERGY
Pioneering Regional Growth Through Trade, Investment, and Energy Innovation
Serbia and Hungary’s partnership has evolved into a robust and multifaceted relationship, underscored by significant economic exchanges, energy collaborations, and forward-thinking sustainability projects. This bilateral cooperation reflects strong historical ties and a shared vision for economic development and environmental responsibility.
eCONOMIC eXCHANGe: A DYNAMIC PARTNeRSHIP
Substantial trade volumes and diversified product exchanges define the economic relationship between Serbia and Hungary. In 2023, bilateral trade reached €3.1 billion, with Serbia recording a trade surplus of €27.1 million. Exports from Serbia to Hungary increased by 4% year-over-year, reaching €1.56 billion, driven by critical products such as electrical components, energy systems, and specialised machinery. Hungary’s exports stood at €1.53 billion, primarily natural gas, pharmaceuticals, and automotive components.
In 2023, Hungary ranked Serbia’s fourth-largest export partner and sixth-largest import partner. However, in 2024, the trade dynamics shifted, with Serbia reporting a trade deficit of €187.1 million during the first three quarters. This change underscores the dynamic nature of bilateral
THE PARTNERSHIP BETWEEN SERBIA AND HUNGARY SHOWCASES DYNAMIC TRADE RELATIONS, SIGNIFICANT INVESTMENTS EXCEEDING €1.3 BILLION, AND GROUNDBREAKING ENERGY PROJECTS THAT SAVE MILLIONS OF KILOWATT-HOURS ANNUALLY WHILE REDUCING GREENHOUSE GAS EMISSIONS BY THOUSANDS OF TONNES
Photo: Shutterstock
trade, reflecting the evolving demands and opportunities in both markets.
eNeRGY
COOPeRATION: A CORNeRSTONe OF bILATeRAL ReLATIONS
One of the most notable areas of collaboration between Serbia and Hungary is energy efficiency and sustainability. Smart Energy Investment (SEI), a Hungary-based company, has become a key player in Serbia’s energy sector, demonstrating the potential of cross-border partnerships.
SEI’s innovative approach to energy services focuses on reducing consumption and ensuring sustainability through public-private partnerships (PPPs). With over 30 completed projects in Serbia and more than 100 regional initiatives under development, SEI has set new standards for energy efficiency. These projects have collectively saved millions of kilowatt-hours annually and reduced greenhouse gas emissions by thousands of tonnes.
A standout achievement is the Zaječar project, which UNECE recognised as one of the top 10 global projects for its circular economy practices and sustainability. This accolade highlights the global impact of Hungarian-Serbian cooperation in energy innovation.
INveSTMeNTS: A GROWING PReSeNCe
Hungarian investments in Serbia have significantly contributed to the latter’s economic landscape. With €1.3 billion invested since 2010, Hungary is the 10th largest foreign investor in Serbia. These invest-
BY LEVERAGING PUBLIC-PRIVATE PARTNERSHIPS AND MULTIDISCIPLINARY INNOVATION, SERBIA AND HUNGARY ARE SETTING A REGIONAL BENCHMARK FOR SUSTAINABLE DEVELOPMENT AND
ments span infrastructure, energy, and manufacturing sectors, reflecting Hungary’s strategic commitment to Serbia’s development.
As of November 2024, there were 673 active companies in Serbia with majority Hungarian ownership. These enterprises create jobs and introduce advanced technologies and business practices, fostering a competitive and innovative economic environment.
TRADe AND INveSTMeNT SYNeRGIeS
Beyond direct trade and investment, the relationship between Serbia and Hungary is characterised by strong synergies. Hungary’s expertise in technology and energy aligns with Serbia’s growing focus on sustainability and innovation. The energy sector, in particular, showcases how the two countries leverage each other’s strengths. Serbia benefits from Hungarian know-how in energy optimisation, while Hungary gains a platform to implement cutting-edge solutions in a new market.
FUTURe-ORIeNTeD COOPeRATION
The future of Serbian-Hungarian cooperation lies in exploring multidisciplinary projects that combine energy efficiency with other sectors, such as agriculture and environmental protection. SEI is at the forefront of this effort, developing projects integrating modern technologies with traditional methods to achieve sustainable development goals (SDGs).
These initiatives address global challenges like climate change while creating local economic opportunities. Public-private partnerships remain central to this strategy, ensuring that public institutions and private enterprises share the benefits and responsibilities of these projects.
CONCLUSION: A MODeL FOR ReGIONAL COLLAbORATION
The bilateral relationship between Serbia and Hungary is a testament to the power of regional collaboration. By combining trade, investment, and energy innovation, the two countries have created a model of economic and environmental synergy. Their partnership strengthens their economies and sets sustainability and international cooperation benchmarks.
As Serbia and Hungary continue to deepen their ties, their shared commitment to innovation and sustainability promises a future of mutual prosperity and global relevance.
Photo: Nikola Fific / Shutterstock
Photo: Plam Petrov /
EXPLORING MODERN HUNGARIAN ARCHITECTURE
TRADITION MEETS INNOVATION
A Fusion of History and Modernity
Hungary, a country steeped in history and cultural heritage, has emerged as a hub for cutting-edge modern architecture. From Budapest’s iconic skyline to innovative structures in smaller towns, Hungarian architects blend tradition with contemporary design, creating a unique architectural identity that captures the nation’s evolving spirit.
Modern Hungarian architecture often draws inspiration from the country’s rich history. Iconic styles such as Art Nouveau, Baroque, and Gothic, which define Hungary’s historical buildings, are reimagined in contemporary designs. This fusion creates structures that resonate with the past while embracing the future. Architects are innovatively employing traditional motifs and materials, ensuring a seamless dialogue between old and new.
Opened in 2002, the National Theatre is a prime example of Hungary’s commitment to blending historical and contemporary aesthetics. Designed by architect Mária Siklós, the theatre’s exterior references traditional Hungar-
ian architectural elements, while its modern interior meets the functional demands of a 21st-century cultural venue. The landscaped surroundings, including an artificial lake and sculptures, enhance the building’s visual appeal.
HUNGARIAN ARCHITECTS BLEND TRADITION WITH CONTEMPORARY DESIGN, CREATING A UNIQUE ARCHITECTURAL IDENTITY THAT CAPTURES THE NATION’S EVOLVING SPIRIT
A masterpiece of minimalist modern design, Müpa Budapest is a multifunctional cultural centre on the banks of the Danube. Designed by Zoboki, Demeter, and Partners, it features a striking glass facade, clean lines, and state-of-theart acoustics. It houses the
Photo:
Pixachi
/ Shutterstock
Béla Bartók National Concert Hall, Ludwig Museum, and Festival Theatre, making it a cultural landmark.
Located in the picturesque wine region of Etyek, the Korda Filmpark Visitor Center in Etyek combines industrial design with contemporary aesthetics. The facility, used for filmmaking and tourism, reflects Hungary’s growing importance in the global film industry. Its design blends harmoniously with the surrounding countryside, showcasing sustainable and functional architecture.
INNOvATIONS IN URbAN
DeveLOPMeNT
Hungary’s cities and towns are witnessing a surge in innovative urban developments. In Budapest, the Millennium Tower and Budapest One Business Park exemplify modern office architecture with energy-efficient designs and open spaces catering to tech-savvy professionals’ needs.
Smart city initiatives in Debrecen and Szeged drive the adoption of sustainable building practices, incorporating green roofs, solar panels, and intelligent waste management systems.
Hungarian architects are gaining international recognition for their creative and sustainable designs.
Firms like Építész Stúdió and Napur Architect are leading the charge
with projects that emphasize environmental responsibility. Napur Architect, for instance, won accolades for its work on the Puskás Aréna, Hungary’s national stadium, which marries modern engineering with cultural symbolism.
Sustainability is a key focus in modern Hungarian architecture. Using locally sourced materials, energyefficient systems, and eco-friendly designs is becoming the norm. Projects like the Green House Office Building in Budapest demonstrate Hungary’s dedication to reducing its environmental footprint while maintaining aesthetic excellence.
Modern Hungarian architecture is a testament to the nation’s ability to honour its past while embracing future possibilities. Hungary creates spaces that inspire, function, and endure by merging traditional elements with cutting-edge innovation. Whether it’s a cultural landmark, a sustainable office building, or an urban renewal project, Hungarian architects are shaping a future that respects the country’s heritage while advancing its global architectural reputation.
With its unique blend of history,
