PARTICIPANTS OF “SUCCEEDING IN SERBIA” CONFERENCE AT RECEPTION AT THE ROYAL PALACE

Belgrade, 05 November 2002 – HRH Crown Prince Aleksandar II organized a reception for the participants of the American-Serbian Conference on business opportunities in Serbia “Succeeding in Serbia” at the Royal Palace in Dedinje today.

The Conference “Succeeding in Serbia” that was organized by the Overseas Private Investment Corporation (OPIC) in cooperation with the US Ministry of Trade and the US Chamber of Commerce in Yugoslavia, is held at the “Hyatt” in Belgrade on 4 and 5 November, with the aim to bring closer the investment opportunities in Serbia to the American investors, to present the investment environment, details of the banking system reforms, judicial and legal system reforms, as well as the prospects of Serbia’s development.

The reception was attended by HE the US Ambassador Mr. William Montgomery with his wife, vice president of OPIC Mr. Roy Connelly, representatives of about 40 American companies from various lines of business, among others Philip Morris, Citibank, Motorola, Kraft Foods, Oracle, Galaxy tires, as well as prominent businessmen from our country.

The guests expressed their very positive impressions of the Conference and pointed out their interest in investments, particularly in agriculture, chemical industry, airline transport and food production in Serbia, through privatization and direct investments.

Ambassador Montgomery estimated that the reforms which set firm foundations for further development of economy and stimulus to private business were commenced in Serbia in the last two years, and that favourable environment for foreign investments was created.

However, he also pointed out that the deep economic reforms couldn’t be conducted “over night” and that the aim of the Conference was precisely to make it possible for the American companies to have access to relevant information and make contacts with potential local partners.