Chinese companies invited to invest in Serbia

Acting president of the Chamber of Commerce and Industry of Serbia Milivoje Miletic said Serbia attempts to boost economic cooperation with China in the future by attracting direct investments, offering private-public partnerships as well as providing a chance for Chinese companies to participate in the process of privatization.

In an interview with Xinhua on Thursday, Miletic said that the upcoming meeting of the heads of governments of China and countries of the South East Europe is a good way for Serbia to further develop its cooperation with China, as well as to establish better connections with other countries of the region.

"Countries of the South East Europe are faced with a need to improve its infrastructure, attract investments and speed up their economic growth. At the same time China has the financial advantage, as well as in construction and equipment for production," he explained, referring to the meeting and the economic summit to take place in Belgrade from Dec. 16 to 17.

Miletic reminded that Serbia and China have a strategic partnership since 2009 that significantly improved their economic cooperation and in the past few years has resulted in increase in trade and joint projects in infrastructure and energy sector.

He said that in the first six months of this year Serbia export to China increased 67.5 percent, while import increased 9.8 percent comparing to the same period last year.

He stressed the importance of joint infrastructure projects of Serbian and Chinese companies such as the bridge across the Danube, between Zemun and Borca, as well as the reconstruction of the Kostolac thermal power plant, but suggested that future cooperation should more rely on investments than crediting because of Serbia's high level of indebtedness.

Miletic also invited Chinese companies to participate in the privatization of more than 500 companies that according to the privatization law must be privatized by the end of 2015.

"These companies have long tradition, know the market, have qualified workers, but they need a strategic partner. For us this is a potential for cooperation with Chinese companies that plan a breakthrough at the European market," he said.

"Serbian businessmen are interested in strategic partnership with companies from China and inflow of private capital in other projects, besides infrastructure and energy," he concluded.