NALED Members Set Reform Priorities, Emphasizing Tax Reduction as Recipe for Success in the Western Balkans
Members of NALED have chosen a set of key reform areas for the upcoming year - eGovernment Development, Public Finance Improvement, and Streamlined Regulatory Process, as the president of the Managing Board, Vladislav Cvetković, announced at the ceremonial session that concluded the XVII annual Assembly of the organization.
- We will actively advocate for the resolution of long-standing property-legal issues, including legalization, conversion, and registration in the cadastre with an aim of creating an investment-friendly environment and attracting more investments to the region. We will be commited to healthcare digitization, focusing on the complete implementation of eKarton, eBolovanje, and eUput, while also expediting the drug market access procedures. We will continue to foster a conducive ecosystem for the development of biotechnology, recognizing its potential for growth and innovation. Nonetheless environmental protection will remain a top priority of NALED members, particularly the critical issue of wastewater management and implementation of smart recycling systems for packaging waste - pointed out Cvetković.
Milojko Spajić's presence as an honorary guest further emphasized the collaborative efforts between NALED and the Montenegrin “Evropa sad!” movement. Spajić emphasised their shared commitment to prioritizing reforms that reflect the shared vision of driving progress and prosperity in the region.
- Through the implementation of transformative measures such as fiscalization and digitization, coupled with enhanced fiscal discipline, remarkable results have been achieved in a span of fewer than three years. Non-productive spending from the budget has been significantly reduced by 10%, while GDP has surged by an impressive quarter. Astonishingly, the decision to lower taxes and eliminate the health contribution has paradoxically led to increased revenues. This move has garnered support from industries, which now perceive their tax obligations as equitable and fair. The objective is to continue the trend of reducing tax rates while expanding the tax base, consequently eroding the presence of the informal economy and fostering further GDP growth. This recipe for success has already yielded substantial improvements, as affirmed by the World Bank's analysis, which now positions us at the European average for fiscal discipline in the labor sector - highlited Milojko Spajić while sharing the significant strides made on the path to economic stability and prosperity.
Over the past year, NALED has been actively involved in more than 30 projects aimed at improving business conditions, alongside participation in an equal number of working groups led by the Government of Serbia. The organization's strength lies in its diverse membership, comprising 340 members from various sectors including businesses, local self-governments, and civil society organizations. These members play a vital role in directly contributing to the design and execution of reform initiatives within NALED's six thematic alliances.
NALED, an instrumental organization in advancing Serbia's alignment with the European Union, has played a pivotal role as a catalyst for transformative reforms. Through its dedicated efforts, Serbia has made remarkable strides toward positioning itself as a thriving innovation hub, attracting substantial investments. The tangible progress achieved is particularly evident at the local level, as witnessed firsthand during visits to cities and municipalities across the country. The impact of these endeavors is exemplified by the presence of over 100 American companies operating in Serbia. These companies have not only invested a staggering $3.6 billion since 2001 but have also created employment opportunities for 24,000 individuals. Their choice to invest in Serbia is driven by the abundance of talented professionals and the country's influential role in fostering regional cooperation. –said the deputy US ambassador, John Ginkel.
NALED Arrow Awards for Outstanding Contributions to Economic Development
During the XVII NALED Assembly, the prestigious NALED Arrow was awarded upon esteemed partners from the international community in recognition of their invaluable contributions to the economic development of Serbia. Among the recipients, Peter Wolf, the Sector Manager of GIZ's Open Regional Fund for the Modernization of Municipal Services, was honored for his support in expanding NALED's Network for a favorable business environment across seven Western Balkan economies. Mihailo Pavlović, Senior Advisor of the Korea Trade and Investment Promotion Agency (KOTRA), received well-deserved recognition for his significant role in advancing innovation and its development. Lastly, Canada's Ambassador, Giles Norman, was acknowledged for his unwavering support in empowering women and youth through the preservation and promotion of cultural heritage.
Please find the entire photo gallery on the NALED Serbia Flickr account
