Serbia is facing serious difficulties in the economic sphere and its recovery will depend on the development of private sector activity and investment and a further pick-up in exports. However, this will require a significant improvement in the quality of the business environment. Building on other initiatives aimed at facilitating cross-border trade and exchange of goods and services in the Western Balkans, the regional business registries portal will facilitate cross border economic activity by enhancing transparency and by making it easier to access information about companies in other countries. Improving access to up-to-date and trustworthy information on companies could encourage greater confidence in the market, help recovery, and increase the competitiveness of Western Balkans’ businesses. The measure should also improve cross-border communication between registries by using the current innovations in information and communication technology. This TC project will support the Serbian Business Registration Agency (SBRA) (the “Client”) in the establishment of the regional business registries portal in the Western Balkans through funding for the development of the IT infrastructure. The SBRA, is the regional leader in quality and complexity of its operations and is well placed to be at the forefront of an initiative to establish a regional Western Balkans registry portal. Such a portal would support the more than five thousand companies which are active in more than one country in the region by linking up the business registries of the participating countries. Beginning with Serbia and FYR Macedonia, the aim is to expand the portal to incorporate a broader range of national registries in the Western Balkans. The portal initially will provide the following fee-based services: financial statements of companies; company portfolios (e.g. basic company data like name, seat, owners, core activity, capital); statistical reports based on quantitative analyses of the financial statements of a company (e.g. liquidity ratio, profitability ratio, ROE, ROA); financial indicators/ratios of a company compared with the national industry averages; financial indicators/ratios of a company compared with the internal averages.
Western Balkans’ economic integration is a strategic priority of the Bank and one of the key milestones on the path to EU approximation. On the 25th September 2015, the EBRD President Sir Suma Chakrabarti and Serbia’s Prime Minister Aleksandar Vučić signed a Memorandum of Understanding (MoU) on the EBRD’s Investment Climate and Governance Initiative (ICGI) for Serbia. The MoU provides a framework for cooperation between the Government and the EBRD in the development and implementation of the ICGI for Serbia with the aim of reducing the informal economy and enhancing competition, stimulating the resumption of credit growth, strengthening corporate governance and management practices, supporting privatisation, and stimulating investment in infrastructure. Under the MoU, the EBRD committed to “strengthen transparency by supporting the SBRA to establish a regional registries portal in the Western Balkans region”.
Enhanced transparency and increased access to information in the Western Balkans’ markets.
TC Recipient Information
Serbian Business Registry Agency (SBRA).
Shareholders' Special Fund
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