Monitoring legislation and tracking regulatory changes are essential for businesses, as regulations define the rules governing market operations. A stable and predictable business environment that fosters economic growth requires the consistent implementation of legislation, an efficient public administration, open and transparent communication with public authorities, and an economic policy that is not subject to frequent and abrupt changes. Recognizing the importance of these elements for the functioning of the economy, NALED has developed the Regulatory Index of Serbia (RIS) as a tool that enables its members and the broader public to gain a clearer understanding of the quality of the regulatory drafting and implementation process.

RIS is a composite index consisting of six components. Each component covers a specific stage of the legislative process and is measured through a set of individual indicators (25 in total):

1. Component 1: Predictability of Regulatory Changes – Planning the adoption or amendment of legislation is a prerequisite for ensuring a predictable regulatory environment in the Republic of Serbia.
2. Component 2: Quality of Regulatory Preparation – Ex ante regulatory impact assessments contribute to evidence-based decision-making and support the adoption of regulations that achieve the best balance between costs and benefits.
3. Component 3: Stakeholder Engagement – The quality of stakeholder involvement reflects the level of transparency and openness of the regulatory drafting and adoption process.
4. Component 4: Timeliness of Legislative Implementation – The effectiveness of legislative implementation is primarily reflected in the timely adoption of secondary legislation necessary for the implementation of laws.
5. Component 5: Institutional Responsiveness – This component measures the openness of public institutions in addressing questions and resolving issues related to the implementation of legislation within their areas of responsibility.
6. Component 6: Regulatory Burden – This component assesses the effects of legislation, with a particular focus on the regulatory burden imposed on businesses.