* * EBRD leading renewable energy revolution >> New 4 Energia plant in Latvia >> New projects agreed by WGBC and EBRD >> Poland hosts EBRD meeting >> Armenia to benefit from EBRD loan >> EBRD provides loan to Kobuleti >> New sewage systems brought to parts of Slovenia >> Businesswomen receive welcome boost in Croatia >> Big boost for Lithuanian e-communications market >> Regional Energy Market should be established in Baltic Region >> Czech government announces new efficiency programme >> Renewable energy hits Croatia >> EBRD investment ensures green future >> €11 million loan to provide clean water to Bosnia and Herzegovina >> Romania set for daily fines of €38,000 >> CIMC opens production plant in Poland >> Slovenia aim to reduce building’s energy usage by 30% by 2030 >> Mapei announces HUF 1bn (€3.2m) investment in Hungary >> Mátrai Erőmű opens HUF 6.5 bln. solar power plant >> Elektroprivreda Srbije (EPS) receives €200 million loan from EBRD >> Mátrai Erőmű opens HUF 6.5 bln. solar power plant >> Hungarian government, Grundfos signs strategic partnership agreement >> GVH greenlights Veolia’s purchase of GDF Suez’s plant >>Bulgaria opens new gas transmission pipeline >> EU gives Romania a due date to close and/or restore 109 landfills > Bulgaria Expects to Choose Builder of Gas Link to Romania > EIB extends backing to SME and mid-top undertakings through BS in Slovenia >WOOD-TEC 2015: 14th International Fair for Wood and Furniture Industry in Brno > Laesti raises more capital for Sauga sawmill in Pärnu, Estonia > Poland’s BZ WBK Lease gets loan of €50 million for sustainable energy projects >Bosch invests HUF 9.3 billion in plant expansion > EBRD increases backing for sustainable energy in the Slovak Republic > EBRD targets increased energy savings in Ukraine >> EBRD and EU aim to and develop the water and wastewater services in Romania’s Ilfov County >> Enea to purchase an additional wind farm in CEE >> UPB Energy to build a EUR 30 biomass energy plant in Latvia >> REC celebrates 25 years, embarks on route for the foreseeable future >> Low-carbon city forum focuses on green development >> WIL has many years of expertise in the tyre recycling business >>EBRD and EU look to improve Kazakhstan’s long term source of water >> REC celebrates 25 years, embarks on route for the foreseeable future >> WIL has many years of expertise in the tyre recycling business > RWE to expand wind power portfolio in Poland > Environment : EU Commission brings POLAND and SLOVENIA to The court for e-waste failings >EUR 35 mln will be invested in a Romanian eco-residential complex >> Brodosplit Shipyard in the Adriatic port of Split >> EBRD Transition Report 2013: Emerging economies can break through reform stagnation >> Finish company Fiskars thanks MOL for 350% increase in sales >> Ikea largest store in Poland is completed in Wrocław >> EBRD extends extra €15 million to Raiffeisenbank (Bulgaria) for energy efficiency projects >> Growth returns to Central Europe as eurozone exits recession >> EBRD considers financing first major wind farm in Kazakhstan >> Immochan plans to build shopping centers in CEE >> Swiss electric giant LEM opened a new high-tech factory in Bulgaria >>EBRD lends Rb 1.7 billion to UniCredit Leasing Russia for energy efficiency >> Water supply and wastewater treatment in mid-sized municipalities in Serbia funded >> EBRD strengthens drive for energy efficiency >> Agreements with close Kazakhstan , Agreements with Taiwan developing >> Taiwan working closer with the EBRD on investments in Central Eastern Europe to help find Partners >> EBRD and Ministry support small business in Russian Far East >> Germany building a lead in Ukraine >> Enel Green Power builds a new interconnected PV plant in Romania >> Joint IFI Action Plan for Growth prepares emerging Europe for “competitive and prosperous future” >> China and Poland now connected by new Cargo Train links >> Poland the best economic performer in Europe during the last 20 years >> Poland:luxury goods sales increasing in Poland >> IFIs on track to deliver on investments for growth in Central and South Eastern Europe >> EBRD hails success of St. Petersburg clean river project >> EBRD channels €15.5 million to support major biomass project in Ukraine >> E-Commerce giant investing in Poland >> EBRD co-finances expansion of PEPSA wind farms in Poland >> Is Emerging Europe becoming a “new safe haven”? >> Eastern Partnership transport ministers meet at EIB >> EIB continues to support the upgrading of Sofia’s municipal infrastructure >> EIB supports more efficient power generation and emissions reductions in Russia >>EBRD backs Russian oil-field services company’s Eurobond >> EBRD supports renewable energy project in southern Ukraine >> EBRD President seeks more Asian investment in EBRD region >>New Trade and Banking deals between China and Hungary >> Taiwan Taipei China and the EBRD >> China Invests more into Bulgaria >> EBRD steps up support for energy efficiency investments in Belarus >> Clean water for Romania’s Bihor county >> EBRD issues US$ 250 million “Green Bond” >> Water and wastewater modernisation in Dolj >> EBRD supports bottled water producer in Azerbaijan >> Report: The Waste Water Industry of Poland >> Hyundai looking to invest in Waste Treatment in Serbia >> EBRD invests in Russian IT outsourcing provider MAYKOR >> Joint investment with the Russian Direct Investment Fund and CapMan Russia II Fund >> €10 million loan for Albania’s Credins Bank >> Garbage Management Is a Problem in Russia >> Eastern Europe countries must invest in the economic upturn-GfK >> EBRD supports energy efficiency lending and trade >> Serbia’s economy reindustrialization strategy includes the development of IT >> Rompetrol wins US$1.1bn contract to modernise Kazakh refinery >> EBRD helps Ecoprod generate power from biogas >> The largest oil and gas mine in Poland launched >> Ukraine government approves Energy Strategy until 2030 >> Romania aims to raise €600m from Romgaz IPO in November 2013 >> Non-residents’ direct investment in Romania estimated at EUR 666 million >> EBRD helps Ecoprod generate power from biogas Ukrainian agribusiness firm turns waste into electricity >> US-based AECOM and South Korea’s Hyundai Engineering & Construction are interested in developing major Romanian infrastructure projects >> Energy efficiency investments to boost Podravka’s competitiveness >> Alstom was awarded a €100 million contract to supply 6 Francis turbine-generator units and auxiliaries in Albania >>> €190 million in loans for wood processor Kronospan Funding for facilities in Belarus and Russia to develop forestry sector >> EBRD boosts COSMOTE in Romania’s 4G race €225 million loan for better infrastructure in telecoms sector >> Improving the sustainability of SPAR Slovenija EBRD to provide to €40 million loan to support retailer’s development >> Germany will provide EUR 35 million in support for two energy projects of FYR Macedonian Power Plants >> New EBRD loan encourages Romanian SMEs to invest in energy efficiency €10 million to UniCredit Tiriac Bank to help the private sector cut energy bills >> EBRD finances water supply improvements in Yerevan €5.4 million to rehabilitate water supply infrastructure operated by Yerevan Djur CJSC >> EBRD 10-year loan for main city on Sakhalin island First major investment in decades for district heating system EBRD is driving energy efficiency in Moldovan households >> Romania passes law backing Nabucco gas pipeline project >> Hungary, Austria, Romania and Bulgaria back Nabucco West over TAP rival >> EDF plans €300m investment in Rybnik plant modernisation (Poland) >> Romania approves cut in green certificates and renewable incentives >> EBRD President Sir Suma Chakrabarti says corruption is deterring investment >> FYR Macedonia investment opportunities presented in Malaysia >> GE is Helping Europe to Improve Grid Efficiency, Enable Optimum Asset Management and Enhance Active Network Control >> 6 million Euro Albanian gas power plant will export 70 % of the plants production >> Serbia, Czech Republic start environmental protection cooperation >> An integrated biorefinery for processing crustacean shell waste into specialty and fine chemicals underway > Gasmet: Advanced Gas Detection Technology Supports Arctic Greenhouse Gas Research >> EBRD steps up support for Romanian SMEs >> EBRD supports Montenegro’s power grid upgrade, link to Italy >> EBRD energy efficiency funding for Russian homes >> Financing sustainable energy investments for Bulgarian business EBRD supporting energy efficiency in Slovak Republic >>> €10.3 million extra for Shymkent wastewater modernisation in Kazakhstan >>> Warsaw and Vienna exchanges discuss merging to create CEE share trading hub >>> Donor funding for environmental investments in Belarus >> EU-funded project will reduce electromagnetic field exposure by 50% >>Serbia's industrial production increases by 13% >> A snapshot of ICT in Serbia >> In the starting blocks >> Poland listed as one of Europe's windiest locations >>> AIR POLLUTION Warsaw Entry forbidden >>> Donor funding for environmental investments in Belarus >>> Chinese engage companies from Bosnia Herzegovina for Stanari power plant >>> EIB may lend $1.2 bln for Romanian projects in 2013 >>> EBRD contributes to safety of Ukraine’s nuclear power stations >>> EMS takes on eastern European auto supply busines >>> Taiwan, EBRD ink green investments pact >>> EIB supports modernisation of air traffic management infrastructure in Ukraine >>> EIB and EBRD to support completion of TES-Thermal Power Plant Sostanj project >>> EIB and BCR continue to support SMEs, midcaps and municipalities in Romania >>> EBRD President Chakrabarti visits Taipei >>> EBRD and partners explore next-generation biofuels >>> EBRD strengthens capital base of Siauliu bank >>> Bulgaria’s Biomashin attracts EBRD support 3 New Wind Farms For Romania >>> EBRD invests in Lithuanian port’s future as major hub >>> Biggest ever EIB loan in Slovenia: EUR 500 million for co-financing with EU Funds >>> EBRD adopts new Russia strategy for 2013-2015 >>> EBRD lends to Ukraine’s Coal Energy >>> EBRD boosts support for Belarus banking partner >>> EBRD channels safer drinking water to more of Tajikistan >>> Head of the EU Delegation: Serbia and EU to commence accession talks soon >>> New Joint IFI Action Plan for Growth in Central and South Eastern Europe >>> Poland to get new 53 MW wind farm in Kukinia: EBRD finances a new wind farm and supports the existing one in Tychowo EIB reinforces its support for upgrading Poland’s energy distribution network >>> EIB supports SMEs in Romania with EUR 45 million >>> Hungary: EIB continues to support smaller private companies with EUR 100 million >>> Leasings up in CEE >>> Romania has 750MW of wind farms in testing stage >>> Serbia's Energy Minister announced new incentive tariffs for the production of electricity from renewable energy sources Major new gas plant in Lithuania to replace lost nuclear power >>> EBRD funds Continental’s Russian tyre plant >>> The EU agreement on climate Polish law AAU emission units defended >>> STRABAG to build Europe’s most modern waste treatment plant in Ljubljana >>> EU greenhouse gases in 2011: more countries on track to meet Kyoto targets, emissions fall 2.5 % >>> Protected areas have increased to cover one fifth of Europe’s land >>> EBRD: world’s major waste - flaring gas - could be turned into profit >>> Valcea, Romania, to upgrade water and wastewater services with EBRD loan >>> EBRD directors visit Poland >>> EBRD to finance its first solar power project >>> EBRD unleashes energy efficiency potential of Ukraine’s district heating sector >>> New EBRD financing facility for residential energy efficiency projects in Moldova >>> Giving old tyres a new life >>> Serbia - RWE and EPS (Serbia) sign collaboration agreements >>> Two new hydropower plants in Albania >>> Poland - RAG (Austria) signs deal with GazSystem for gas storage in Poland >>> Poland - Enea signs EPC contract for 1,075 MW supercritical plant (Poland) >>> Ukraine - Ukraine starts construction of 750 kV transmission line >>> Ukraine - Ukraine receives €200m loan for 22 hydropower projects (980 MW) >>> Bosnia - RWE will develop 210 MW of run-of-river capacity in Bosnia >>> ... Slovakia spends 33 mln eur on car-scrapping subsidy ... EBRD helps boost green energy use in Poland >>> ... EBRD reiterates Poland's 2011 GDP growth forecast at 3.8% >>> Geomorphological Secrets Yana River Basin Revealed >>> Imtech: strong further growth in Poland, broad palette of new orders >>> WÄRTSILÄ INTERIM REPORT JANUARY-JUNE 2011 >>> Outotec >>> Hungary 'should focus on CO2 cuts outside ETS' >>> We cannot afford to waste energy and raw materials – the informal meeting of the EU Competitiveness Council with Minister Andrzej Kraszewski. >>> Smart meter producers report huge increase for shipments in CEE region
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A snapshot of ICT in Serbia
2013-03-28 00:00:00
In an interview from Jasna Matic, Special Advisor to the Minister for Competitiveness and Knowledge Economy, Ministry of Finance and Economy,  by SIEPA state that ICT has been one of the industries with the strongest growth in the past years not just globally, but also in Serbia. Information technology has in the past couple of decades influenced all aspects of our lives and has affected almost all other sectors of economy. ICT has already changed and is still changing existing business models and almost all businesses and whole sectors now rely on IT for increases in productivity and efficiency. With broadband becoming the key infrastructure of our time, ICT is sure to continue to grow in the whole world for years to come. At the same time, for the most part, ICT requires far smaller initial investments than other sectors. ICT sector offers an increased number of high-quality, well paid jobs, and all forecasts project a global shortage of experts in the sector. These facts, together with Serbia's existing capacity in the ICT sector, are reason enough for the Government to support it and impel Serbian economy towards high value adding, knowledge based economy.

 What does the program for support contain?

The program aims to support four basic segments of the ICT industry:

    Start-up;
    Outsourcing;
    Development and export of original software products;
    Development centers of large multinational companies.

We already have very successful examples in all four segments, but in very limited numbers. The aim of the support measures is to help increase the number of successful companies in all of these segments.

Specific measures entail:
Support for IT entrepreneurship and start-up projects
Tax incentives for software companies
Support for exporters of software products and solutions
Improvement of the legal framework
Improvement of the system of education

A. Support for IT entrepreneurship and start-up projects

        Grants for start-up projects

 The main objective of this component of the program is to support and strengthen technological start-up ecosystem in Serbia.

This component provides finance for start ups, together with investors who already have a successful record of investing in IT start-ups, and wish to invest initial (seed) capital in Serbia, in micro and small enterprises with innovations or products with significant market potential.

All domestic and foreign investors and micro or small enterprises will be able to take part in public calls for financing, while decisions on allocation of the stimulus will be made by expert board, established by the Government. Financial incentives granted by the Republic of Serbia cannot exceed 50% of the total approved budget of the project and can be up to 25.000 Euros, while the investor has to provide the remaining investment.

In addition to financial support for start ups, a comprehensive program of training, mentoring, coaching and networking will be put in place, with the aim to bring together and connect IT entrepreneurs, transfer the knowledge related to start-up entrepreneurship, provide mentoring and project preparation for entering the investment program, presentation of the development teams and projects to investors, etc.

        Support for the development of business incubators for IT companies

 The aim of this component is to strengthen existing and encourage creation of new technology incubators, in order to increase their ability to support establishment and rapid development of a significant number of new companies in the field of IT, and provide training in the area of entrepreneurship.

Technology incubators will be granted funding in order to provide support to young start-up companies by lowering the costs of starting a business through a unified administration services (accounting, legal services, etc.), as well as enabling them to quickly acquire new knowledge and skills (in management, finance, marketing, products, new markets, etc.).

B. Tax incentives for software companies

        The tax credit for investments in research and development

 The objective of this component is to provide support to companies that invest in research and development.

The tax credit for investments in research and development is introduced as a general rule. This means that, in addition to capital expenditures, investments in research and development will be included in the calculation of the reduction of tax liability.

The tax liability will be reduced by 20% of the total invested value (by 40% for small companies), up to 33% of the total tax liability (up to 70% for small companies) for a given tax period, along with the right to transfer the tax credit into  subsequent tax periods.

        Exemption from the liability to pay income tax

The aim of this component is to support the companies that produce software products and solutions.

Fiscal burden (taxes + contributions) to net earnings will be reduced by 35.5% (from 67% to 43%).

Companies that earn at least 70% of total revenue by selling software will be eligible to make use of this exemption

Companies with more than 50 employees can use this exemption for 80% of employees, while companies with 50 or less employees, can use this exemption for up to 90% of employees.

 C. Support for exporters of software products and solutions

 The objective of this component of the program is to provide support to companies that export their own software products and solutions.

        Cost sharing for entering foreign markets

Grants to cover part of the costs of entering foreign markets are awarded through public call, implemented by the Serbian Investment and Export Promotion Agency (SIEPA) within the "Program to Encourage Competitiveness and Internationalize Serbian Economy".

Funds are awarded on the basis of reimbursement of 50-75% of eligible costs, up to a total approved amount, for one or more of the following activities:

    internationalization of products by strengthening their competitiveness (certification of software products and solutions, quality management system certification, product localization costs in foreign markets);
    protection of industrial property (registration of trademark and industrial design);
    participation in organized business missions, visits and B2B events in foreign markets (travel and accommodation costs, the registration fee);
    opening of representative offices in foreign markets (space rental, staff costs, running costs);
    exhibiting at international fairs (rental of exhibition space, stands construction costs, etc.);
    strengthening marketing capacity (design and production of promotional materials).

        Support in acquiring information about foreign markets

This support will be provided by economic advisers in countries that are major economic partners of Serbia. They will be given an active role in process of encouragement and support to Serbian IT industry and tasked to regularly analyze the environment and make a review of local law regulations, IT market trends, opportunities for distribution of software products and solutions. This information will be made available in Serbian language, on the website of the relevant ministry.

        Export promotion and support of domestic software products and solutions

 Agency for Export Credit and Insurance (AOFI) will be tasked with introducing new instruments for finance and export insurance, customized to specific needs of IT industry.

D. Improvement of the legal framework

The objective of this component of the program is to create a conducive legal framework for development of electronic payment services (services for e-money, mobile payments, etc.), exchange of electronic accounting documents and electronic communication between citizens and businesses with the government administration.

During the first half of the 2013, a number of regulations will be introduced and amended by the Ministry of Finance and Economy and the National Bank of Serbia:

    Law on payment services - will bring an opportunity for e-money and other intermediaries in the performance of payment transactions on the Internet;
    Law on Accounting - will bring electronic accounting documents that are valid with the identification code of the issuer (which may not necessarily be the signature), as well as the opportunities for the electronic exchange of business documents (EDI);

    Law on Audit - will prescribe  electronic format as mandatory for submission of annual financial reporting;
    Law on Republic Administrative Fees - will introduce electronic payment of administrative fees with credit cards and other e-services (POS Terminals, e-money, mobile payments, etc.).

Additionally, other regulations will be adopted this year, which will further simplify business framework for entrepreneurs and freelancers, while the Tax Administration will appoint specialized tax advisors, who will provide answers to all the doubts regarding the businesses in the field of IT.

Also, the Ministry of Finance will, in accordance with the needs of the IT industry, make a list of countries with which Serbia has not signed an agreement on avoidance of double taxation and will initiate negotiations with these countries in order to sign such agreement and lower operating costs.

E. Improvement of the education system

The objective of this component of the program is to increase the number of students enrolling and graduating from faculties that educate ICT professionals, while also creating mechanism for continuous innovation of curricula in high schools, vocational schools and universities that should enable students to gain practical and up to date IT knowledge and skills.

Education programs will be composed in accordance with the needs of IT industry, and through various institutionalized cooperation means between the system of education and the IT industry, that include internship, specialization studies, specific certificate courses and so on.

3.  What are the next steps?

The Strategy was adopted in the Government session on March 7.  The very next day it was promoted to the international audience at a dedicated info session at CeBit in Hannover.

By the end of June a number of laws, bylaws and other regulation will be drafted and adopted in order to create legal base for implementation of the strategy.

The program should be fully functional and implemented in the second half of 2013, and we expect to see first results relatively quickly - already in 2014. Source; SIEPA