VIBRANT AND SINCERE RELATIONSHIP - Italy - ITALY & SERBIA
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Italy
- 2021 -
ITALY & SERBIA
VIBRANT AND SINCERE RELATIONSHIP
H.E. CARLO GIORGIO IGOR
LO CASCIO MARCHEGIANI MIROVIĆ
Italian President of the Head of the
Ambassador Italian-Serbian Vojvodinian
to Serbia Chamber of Government
Commerce
CONTENT
08 THE RELATIONSHIP
BETWEEN ITALY AND
SERBIA IS VIBRANT AND SINCERE
20 THE ITALIAN INVESTMENT
HOTSPOT
Patrizio dei Tos
33 WE WILL CONTINUE WITH
THE SUPPORT TO THE
REGION
H.E. Carlo Lo Cascio President of Confindustria Serbia Alessandro Bragonzi
Italian Ambassador to Serbia Head of EIB regional representation for
24
the Western Balkans
ITALY REMAINS ONE
12 SERBIA - THE LAND OF
OPPORTUNITY
Giorgio Marchegiani
OF SERBIA'S LEADING
ECONOMIC PARTNERS
44 VERY POSITIVE
TENDENCIES IN FOSTERING
Marko Čadež
President of the Italian-Serbian
Chamber of Commerce and CEO of
President of the Chamber of COOPERATION
ITALY 2021
Commerce and Industry of Serbia
DDOR Osiguranje – part of UNIPOL (CCIS)
Mirjana Kojić
Group The Secretary General CCIS
16 COOPERATION WITH GREAT 28 RESULTS IN 2021
WE LOOK TO FUTURE WE HOPE FOR BETTER
OPTIMISM Boško Vučurević
48 ECONOMIC COOPERATION
WITH ITALY IS EXTREMELY
DEVELOPED AND DIVERSIFIED
Focus
Igor Mirović President of the Chamber of
Commerce of Vojvodina (PKV) Economic cooperation
Head of the Vojvodinian Government
3
01
FREE WINE!
A small town named
Caldari di Ortona in Italy has
a free wine fountain that flows
24 hours a day, with locally grown
red wine!
06
C OFFEE
STARTS
THE DAY
It’s well known
that Italians
adore their
coffee. But did
ITALY 2021
05
you know that
they enjoy 14
billion
H IGHEST espressos
each year?
PEAKS
Focus
The highest mountain of Italy
can be found in the Alps. It is
the Monte Bianco, better known as
Mont Blanc, which is 4,807m.
4
03
ITALY’S BABY
One of the tiniest fun facts
02
about Italy is that there’s
a whole other country
inside it! The
THE OLDEST Vatican City!
DISH
Pasta is a crucial
part of Italian
culture and they
have eaten it
since the 4th
century B.C!
04
UNESCO KINGS
Italy has the most
UNESCO World
Heritage sites in the
world. A total
of 55!
08
SPORT LOVERS
Italians love sports. Cycling,
Skiing, Soccer and Motor
Racing are just some of the
sports Italians have very
strong interest in!
ITALY 2021
07 CHEESE LOVERS
Focus
The Italians have over 2,500 types of cheese! Some of the
most popular include parmesan, mozzarella, and gorgonzola.
5
Italy
FOREWORD
2021
Dear readers and friends, Diplomacy & Commerce magazine and
significantly upgraded from last year.
This difficult year forced us to face As a culmination of this work, we
unprecedented complications and dif- would like to thank every person who
ficulties as a result of Covid-19 pandem- supported and contributed to this pub-
ics. These unfortunate circumstances lication. In particular, we would like to
forced us to drastically rethink our work, express our gratitude to our members
but also prompted us to innovate it and and associates, with whom the CCIS
enhance its quality. And so, in the hope maintains and promotes long-term co-
and conviction that this situation will operation, and to the Italian Embassy
soon fade away, I am sincerely glad to an- in Belgrade.
nounce the issuance of a special publica-
tion dedicated to economic bilateral co- MIRJANA KOJIĆ
operation between Italy and Serbia, re- Secretary-General
Italian-Serbian Chamber of Commerce
dacted in partnership with our associate
Dear readers and contributors, work as ‘normally’ as possible.
Since everything in life has a silver
For the past year and a half, we lining, as it turns out, this pandemic
have all been facing an unusual situa- forced us to come out of it even strong-
tion, created by the Covid-19 pandem- er and readier to improve our work
ic. New circumstances have forced us and generate better quality as a result.
to undergo many transformations and In this year's special edition InFocus
adjustments in everyday life, as well as Italy, you will find out how Italian com-
in work and all other segments. panies coped during this period, how
In a situation when the health of they adjusted their business and what
humanity comes first, it was vital to lessons they learned, which we have
react quickly so that the consequenc- prepared with the support of the Italian
es would be as negligent as possible. Embassy, the Italian-Serbian Chamber
Overall, we can say that most of the of Commerce, Confindustria Serbia, the
society managed well and adapted all Chamber of Commerce and Industry of
its activities to the new situation. Serbia, the Chamber of Commerce of
As the economy is the pillar of a Vojvodina, the Italian business people, to be healthy, first and foremost, suc-
country's development, the global fo- as well as the Serbian business people cessful and happy.
cus has been on preserving this seg- who cooperate or are somehow con-
ment. Of course, that was not easy at nected to Italy. Enjoy!
all, because we had to find a modality This is our magazine’s jubilee year
that we could function in. We had to in which we are celebrating its 5th an- TANJA BANKOVIĆ
find solutions that ensured that we can niversary. Our wish for you this year is Editor-in-Chief
ITALY 2021
TANJA BANKOVIĆ JOVANA MARKOVIĆ RUŽA VELJOVIĆ Translation Special thanks to
Editor-in-Chief Advertising manager Magazine director SNEŽANA BJELOTOMIĆ MIRJANA KOJIĆ
tanja.bankovic@color.rs jovana.markovic@color.rs ruza.ristanovic@color.rs ALBERTO FORNERIS
Print
GUGLIELMO MIGLIORI
ILIJA PETROVIĆ JELENA RANDJELOVIĆ ROBERT ČOBAN ZLATNA KNJIGA Embassy of Italy
INDIGOCHILD Advertising manager Director Jagodina
Art director jelena.randjelovic@color.rs robert.coban@color.rs Bagrdanski put bb
Focus
indigochild.ilija@gmail.com
DRAGANA RADOVIĆ Photos
NATAŠA NEŠIĆ Advertising manager GORAN ZLATKOVIĆ
Advertising director dragana.radovic@color.rs GETTY IMAGES
natasa.nesic@color.rs
6
THE RELATIONSHIP
INTERVIEW
BETWEEN ITALY AND SERBIA
IS VIBRANT AND SINCERE
H.E. CARLO LO CASCIO
Italian Ambassador to Serbia
The bilateral cooperation is based on a solid and ever growing Italian entrepreneurial
presence. Our cooperation also develops within the framework of the EU being Italy a
founding member, and Serbia a candidate state
e spoke with Italian Am- a consolidated tradition that has not
W bassador to Serbia, Carlo
Lo Cascio, about the rela- THE STORY OF OUR
changed even during the pandemic.
Last year, in fact, two Ministers came
ITALY 2021
tions between our two from Rome to Belgrade, the Minister of
countries today, given that diplomat- RELATIONSHIP IS TRULY Foreign Affairs and International Coop-
ic relations date back to 1879 and Ital- A MEETING OF CLOSE eration, Luigi Di Maio, and the Minister
ian companies have been investing in of Defense, Lorenzo Guerini, as well as
Serbia for almost 20 years. PARTNERS WHO HELP former Deputy Minister for Foreign Af-
Focus
“For two countries bound by such EACH OTHER fairs (and current Deputy Minister for
a solid friendship, the exchange of vis- Internal Affairs), Ivan Scalfarotto. For
its between our Governments remains Serbia, former Minister of Foreign Af-
8
fairs and current National Assembly than acceptable, considering the ex- nia and North Macedonia within the
President Ivica Dacic and the Minister ceptional circumstances of the pan- framework of the “Mini Schengen ini-
of European Integration Jadranka Jok- demics. Italy confirmed to be Serbia's tiative'”. Belgrade’s willingness to sup-
simovic paid a visit to Italy. This year, second trade partner with 3.4 billion ply vaccine doses to other countries
Minister of Foreign Affairs Nikola Se- euros in the commercial exchange.In- in the region was also another impor-
lakovic went very recently to Rome, deed, there is room for improvement tant signal.
also”, he concluded. not only with statistics - that by the In this regard, we appreciate Ser-
way show positive feedback already bia's commitment to the EU-facilitat-
The relations between the two coun- for the first quarter of this year - but ed Dialogue with Pristina. An agree-
tries intensified during the COVID-in- also with a wider cooperation to be ment would represent a historic turn-
duced crisis when Serbia sent aid to achieved with new investments. ing point for the entire Region. We are
Italy. How important is it that our two In our perspective, innovation and aware of the obstacles that the negoti-
countries help each other? high-tech in general offer the greatest ations are facing, but we count on the
potential for collaboration between leadership of President Vucic to reach
The relationship between Italy and Ser- our countries. New technologies can this important milestone which will
bia is vibrant and sincere. The support be successfully developed in sectors certainly lead to immense benefits, by
received from the Serbian Government like digital infrastructure, healthcare achieving progresses in parallel with-
with the generous donations of sani- and medicine, agriculture, industry, re- in the European accession process.
tary protective devices one year ago, newable energy, industry and others. Like Minister of Foreign Affairs Luigi Di
was a concrete sign of friendship for Maio recently said, the goal of this his-
which I would like once again to thank toric result requires the utmost com-
Serbian people.
As I said many times, although I was
SERBIA’S PROGRESS IN mitment on both sides.
In our view, without a serious and
well aware of the generosity of Ser- ECONOMIC REFORMS credible revitalization of the EU en-
bian friends, I was truly moved by all
the expressions of love and solidarity
IS REMARKABLE. largement process, it is unlikely to
definitively stabilise the Region. In
towards Italy from both Serbian citi- MACROECONOMIC this respect, we do not want to create
zens and authorities in the most diffi-
cult moments for our country last year.
STABILITY HAS BEEN “shortcuts” in the process of the EU en-
largement to the Balkans or dilute the
The generous donation was an ex- LARGELY ACHIEVED reforms. However, in the Western Bal-
traordinary expression that was deeply kans we must avoid the vicious circle
appreciated. In my opinion, the great of disillusion and skepticism feeding
solidarity movement from the Serbian each other, where the absence of a
population has confirmed, once again, Moreover, scientific cooperation concrete European perspective on the
that the friendship between Italy and between Italy and Serbia has been in- part of the EU slows down or stops the
Serbia is long-standing and genuine. creasingly intense in the last few years. progress of reforms in the countries of
The story of our relationship is truly I have personally attached special im- the Region.
a meeting of close partners who help portance to cooperation in the field of
each other. science. In these last years, we focused What reforms does Serbia need to
Italy has been close to Serbia by also on “science diplomacy” and its implement to improve the business
sending last summer a Civil Protec- link to industrial application and val- environment?
tion medical team that came here with ue-added manufacturing. Our two
great enthusiasm and willingness to countries have both a long-standing Serbia’s progress in economic reforms
support and assist the Serbian people, tradition in science and research and is remarkable. Macroeconomic stabili-
as well as Serbian doctors, by sharing could benefit a lot from this approach. ty has been largely achieved. This not-
the experience made during the first withstanding, structural reforms will
most difficult months of the pandem- Italy supports Serbia on its EU acces- be on the top of the agenda to put
ic in Italy, in spring last year. sion path. How important do you economy on a durable and sustaina-
think Serbia's role is in the Western ble path: better fiscal planning, fairer
According to a study published in No- Balkans region? and more predictable business envi-
ITALY 2021
vember last year, Italy is a very impor- ronment, competition laws and poli-
tant external trade partner of Serbia. The positive and fundamental role cies, increase in public investment, re-
Is there room for the two countries played by Serbia in the Western Bal- structuring of public companies and
to improve trade? kans is demonstrated by the improve- fight against corruption.
ment in relations with neighboring Beyond that, more progress is need-
With around 600 Italian companies countries in recent years and in it- ed in the wide area of rule of law, fun-
Focus
present in Serbia, the result achieved self by the intensification of regional damental rights and good governance:
in bilateral trade last year was more cooperation, in particular with Alba- approving and implementing the jus-
9
tice reform, delivering a comprehen-
sive reform of the public administra-
tion, stepping up the fight against cor-
ruption and organized crime with a
solid track record, creating an envi-
ronment that fully guarantees free-
dom of expression, including imple-
mentation of the media strategy. The
Serbian Government is working with
renewed commitment on all these is-
sues and we are confident that signif-
icant results could be soon achieved.
You recently met with President Vučić
and the Serbian Minister of Defence,
while Minister Selaković was on an
official visit to Rome. How would you
describe the cooperation with the
Government of the Republic of Ser-
bia and Serbian institutions?
I think that we have a very good co-
operation from every point of view.
In Rome, Minister Selaković met with
our Minister of Foreign Affairs to lay the
foundations for a closer collaboration
between our diplomacies, in view of ion, design, publishing and cinema.
Belgrade’s accession to the EU. The Italian Cultural Institute cooper-
In fact, this is just one example EXCELLENT BILATERAL ates with the major Serbian cultural
among the others of how our coop-
eration with Serbian Government and
CULTURAL RELATIONSHIPS institutions, public and private, and
takes part in all major cultural events
Institutions has intensified even more COVER PRACTICALLY and festivals in Belgrade, but also in
appropriately in the light of the impor-
tant challenges that our countries are
ALL SECTORS: MUSIC, Novi Sad, Nis, Kragujevac.
Two recent examples of initiatives
facing with the pandemic emergency VISUAL ARTS, THEATER, that I really would like to mention are
still underway.
LITERATURE, FASHION, the exhibition “Dante Ipermoderno”
that we presented to the Serbian pub-
Could you tell us about cooperation DESIGN, PUBLISHING AND lic in April and May. Again in May Italy
between Italy and Serbia in educa-
tion, art and culture?
CINEMA has been the host country of the Budi
Festival of Pancevo, dedicated to the
world of childhood, which this year
Cooperation in overall cultural sector has Pinocchio as its topic.
is long-standing and very intense. In fers Italian language courses at all the Let’s not forget that last year the
the education field, Italian language CEFR levels and, I am very proud to say, exhibition “Roma Aeterna” remained
is studied from the third year of ele- due to the pandemic we managed to open to the public in Novi Sad, despite
mentary school up to the university de- organized online courses that actual- the pandemic, to confirm that our
gree and PhD level. Currently it is pos- ly received a positive feedback. cultural presence has been continu-
sible to detect around 40.000 persons Excellent bilateral cultural relation- ously a source of connection even in
that study Italian in Serbia. The Italian ships cover practically all sectors: mu- tough times.
Cultural Institute of Belgrade also of- sic, visual arts, theater, literature, fash-
ITALY 2021
I AM DELIGHTED BY SERBIAN NATURE
What kind of connection to Belgrade and Serbia do you feel like in “slava” tradition, is heartwarming opportunity and it
and which Serbian customs do you particularly like? has been an honor for me in the past to be invited to those
Focus
— I really admire the sense of family that still persists in this family meetings by some friends. I admit I am delighted by
country, as well as in Italy. This is indeed one of the main Serbian nature but I especially like to reach Roman ruins in
aspects that we strongly have in common and that make us the various localities in Serbia to enjoy, even more closely, the
very close. Love for food and the joy of gathering together, origin and the legacy of our historical friendship.
10SERBIA - THE LAND OF
INTERVIEW
OPPORTUNITY
by Mina Vučić
GIORGIO MARCHEGIANI
President of the Italian-Serbian Chamber of Commerce and CEO of DDOR Osiguranje – part of UNIPOL Group
Italian and Serbian culture, economy, and history create special bilateral relations
he sixth edition of InFocus Could you give us a few numbers that companies or companies with Italian
T Italy magazine dedicated
to the Italian economy in
Serbia could not have
best describe the special relationship
Italy and Serbia have, in comparison
to other countries?
shareholdings. Our Chamber of Com-
merce has made a very detailed analy-
sis which shows that almost 600 busi-
gone to print without including the nesses, out of the aforementioned
interview with Giorgio Marchegiani, In terms of the numbers of business- 1,600, are very influential. This is an
President of the Italian-Serbian Cham- es here, there are about 1,600 Italian extremely relevant number as Serbia
ITALY 2021
ber of Commerce and CEO of DDOR is a country with 7 million people and
Osiguranje. Our journalist Mina Vučić these companies employ over 50,000
has spoken with Mr Marchegiani as
the Chamber he chairs acts as a bridge
WE EXPECT GREAT people who correspond to 2% of all
Serbian employees (2.5 million peo-
between the Serbian and Italian busi- DEVELOPMENT IN THE ple). This is quite an astonishing fact.
Focus
ness communities, and together they
have discussed current statistical data
FUTURE These companies generate 5.4% of Ser-
bia’s GDP. However, the numbers are
and plans. relative as the companies we take into
12consideration are very different; from What are Serbia’s advantages as an What will be further developments in
Fiat, banks, insurance companies, and investment destination? bilateral economic relations?
many other large market players to
smaller companies. Serbia and Italy Serbia, specifically in the post-Covid I believe in small and middle-sized
have established a great connection era, has and will have a lot of invest- companies and the service sector. It-
that facilitates bilateral relations. It is ment advantages. The nation’s geo- aly also strives for excellence in fash-
also important to talk about the links graphical position as a crossroads of ion and design which are a big part of
between the two nations since we are the Balkans is one of its greatest ben- our culture, and, in my opinion, this is
all aware of the cultural and histori- efits. Another advantage is the free something Serbs can benefit from. In
cal connections existing amongst us trade agreements that Serbia has with addition, it is arguable that the envi-
and this is fundamental for our rela- the Russian Federation and Turkey, ronmental sector is developing, and
tionships. Another significant aspect as well as other Asian countries. Ser- this is very important as every nation
is the re-established interest of Italian bia, therefore, acts as a springboard, should pay attention to the territory
companies in Serbia in the post-Covid making it easy to move and transfer it owns. Serbian sustainable energy
era, and we hope Serbia will become around the region and outside the EU. sources, recycling, and water clean-
an even more attractive destination The third one is the working environ- ing systems sectors can grow quite a
for Italians. ment, in fact, Serbia has great produc- lot. This is something that has slowly
tion prerequisites and, although the started to emerge, and for this reason,
Which economic sectors are the Ital- it also needs acceptance and regula-
ian companies most active in? tion from the authorities, which could
also benefit from this, due to its vi-
Generally speaking, the manufactur- SERBIA IS NOT ONLY A tal importance. In the EU, we have all
ing sector, which produces everything
from socks to car parts, especially the
COUNTRY WITH LOW learned how destructive not respect-
ing the environment and throwing
textile and automotive subsectors, is PRODUCTION COSTS, waste without recycling can be de-
the sector in which our companies are WHICH IS A QUITE structive. We do hope that Serbia will
most active. They are very active also be able to use our experiences and not
in the agricultural industry and the fi- OUTDATED THOUGHT, repeat the same mistakes Italy did in
nancial sector, where two large Ital- BUT ALSO A MARKET recent decades. Creativity, as well, has
THAT OFFERS MANY
ian banks operating in Serbia - Inte- great potential for development as it
sa, the largest bank, and UniCredit, the can allow the interchanging of ideas;
second-largest bank- rule the game. I OPPORTUNITIES this is something I think Serbia can
should also mention insurance com- learn from us and implement locally.
panies that occupy top market posi- Finally, the market space for Serbian
tions, for example DDOR Osiguranje companies in Italy is huge, given the
part of UNIPOL Group and Generali production costs are rising, they are fact that Serbia has been developing
Osiguranje Serbia. Lastly, we can find still much lower than in other Europe- a very serious business environment
the electronics and technology indus- an countries. Serbian workers are also with medium-sized production com-
try and service sector. Italian produc- highly skilled and efficient in produc- panies, such as those in the packag-
ers of refrigerator parts and market- tion. Going back to Yugoslavia times, ing industry. We expect great devel-
ing agencies are also important mar- there were a lot of industry sectors opment in the future.
ket players in Serbia. I would also like that were highly developed and suc-
to highlight the renewable energy sec- cessful, and their efficiency has re- The Chamber of Commerce acts as a
tor as a very important one since we mained stable till now in Serbia. The bridge that unites Serbian and Italian
believe in the next decade this sector packaging and automotive industry businesses. It will soon celebrate its
will create a lot of opportunities for the are the best examples of this. Lastly, 20th anniversary. Which of the Cham-
establishment and growth of Italian the greatest benefits come with the ber’s results are you the proudest of?
companies in Serbia. We would like to technological development in Novi
take the Serbian know-how to a glob- Sad, dubbed the European Silicon The Chamber of Commerce is a repre-
al level. There is a very wide range of Valley. This constant presence of ex- sentative body, and I am very proud
ITALY 2021
companies in different sectors, which cellence in numerous sectors creates of our way of working created with
is a positive aspect, as it proves Serbia many advantages for future invest- other business associations and or-
is not only a country with low produc- ments that could be done from a great ganizations, such as the Italian Em-
tion costs, which is a quite outdated number of Serbian nationals who are bassy and Confindustria. This work is
thought, but also a market that offers coming back home from abroad dur- very demanding, and I think we are all
many opportunities, especially in the ing the pandemic. This is a beautiful great team players. We also have an
Focus
fields of innovative technology and thing to observe because it can stim- administration team made up of ex-
green economy. ulate the economy even more. cellent Italian and Serbian managers
13What can Serbs learn from Italians
and vice versa?
In my opinion, Serbs love the Ital-
ian lifestyle, therefore, they can learn
from our artistic attractions, as well as
our manufacturing tradition, which
Italians have developed well. The
70-year-timespan after the Second
World War has created a very strong
country out of Italy in terms of manage-
ment and know-how and this is some-
thing Serbs can learn from us seeing
that they have a large variety of dif-
ferent opinions and views on compa-
ny development. The main thing Ital-
ians can learn from Serbs is the joy of
living, which is very much ingrained
in the Italian culture already. Howev-
er, Serbs have it at a higher level. Ser-
bia is also a country of great struc-
ture, where influences from the Yugo-
slav era are still found in organization-
al structures. Something else Italians
can learn from Serbs is precision. As a
matter of fact, there are different in-
terests in bilateral relations but in my
opinion, it is always important to find
win-win solutions.
which gives the organization prestige As an Italian living and working in
and facilitates operations. Our share- Serbia, what do you like about our
holders’ growing interest can lead us
to become a more developed and dig-
IT IS GREAT TO SEE HOW country? What is it that makes you
feel connected with Serbia, Novi Sad,
italized Chamber that can open new ITALY ISN’T VIEWED and Belgrade?
doors and represent a new opportu-
nity for both nations.
JUST AS AN ECONOMIC I love Belgrade and Novi Sad since I was
PARTNER BUT ALSO A born and raised in Milan, a dynamic
Which institutions do you cooperate
with? How can we further improve
CULTURAL ONE, WHICH and innovative city. As a result, being
surrounded by companies, shops, and
Italian-Serbian relations? MAKES OUR RELATIONS people is something I am very much
In Serbia, we collaborate with the
VERY GENUINE AND used to and like to be a part of. I also
really enjoy its nature, as I love doing
Chamber of Commerce and Indus- SOMETHING I AM VERY different types of sports and activities
try of Serbia, but we also cooperate
with numerous ministries in the Ser-
PROUD OF such as skiing and hiking in the moun-
tains. I’ve visited many of the natural
bian government - Foreign Affairs, La- treasures including Zlatibor, Kopaonik,
bour, Environment, Culture, and Ener- Tara, Šumadija, and others. I liked all of
gy, as well as the customs and fiscal and our doors are open. Moreover, it them a lot because they reminded me
authorities. We have a great relation- is important to mention that when dif- of some areas in Italy. In Vojvodina, on
ITALY 2021
ship with Maja Gojković, the Deputy ferent sectors of one nation are devel- the other hand, I enjoy the cultural as-
Prime Minister and Minister of Culture oping, they don’t tend to always grow pects. In the past seven years of living
and Information. It is great to see how at the same pace, but as an Italian, I here, I learned how to appreciate this
Italy isn’t viewed just as an econom- am very realistic and I know very well country which I first saw when I was
ic partner but also as a cultural one, that no country is perfect, specifically quite young, in the 1970-1980s when I
Focus
which makes our relations very gen- in terms of bureaucracy and adminis- travelled across entire Yugoslavia. It
uine and something I am very proud tration procedures, which can always left a nice mark on my memory. I am
of. There is always space for growth be improved. happy to live here.
14WE LOOK
INTERVIEW
TO FUTURE
COOPERATION
WITH GREAT
OPTIMISM
IGOR MIROVIĆ
Head of the Vojvodinian Government
I think that Serbia has laid an extremely
good foundation for economic growth in
the coming period
e talked with Igor Mirović, ered by the agreement relate to eco- In February, you spoke with the Pres-
W the head of the Vojvodin-
ian Government, about
the cooperation between
nomic cooperation, connecting the re-
spective chambers of commerce and
businesses and attracting direct invest-
ident of the Lombardy Region, Attilo
Fontana. What are the highlights of
the conversation?
Italian businesses and Vojvodina, the ments. In that sense, immediately after
cooperation agreement signed with the Agreement was signed, we estab- We exchanged views on the current
the Lombardy region three years ago, lished several contacts, agreed upon situation related to the fight against
the improvement of cooperation and the Covid-19 virus, but also under-
the efforts that Serbia is constantly lined the importance of cooperation.
making to improve conditions for do- We had an agreed appearance at one
ing business. I WOULD LIKE TO of the most important Italian trade
In 2018, Vojvodina and Lombardy
ADD THAT WE ARE fairs, in Verona, where we would pro-
mote our achievements in viticulture
signed a cooperation agreement. INTERESTED IN AN EVEN and winemaking which unfortunate-
How would you rate that coopera- STRONGER PRESENCE OF ly fell through. That would have been
tion and its importance today?
ITALIAN BUSINESSES IN a great occasion to meet Mr. Fontana
and his associates. The crisis has de-
In 2018, the Autonomous Province of VOJVODINA layed our plan to meet as early as May
Vojvodina signed an agreement with or June, but we are indeed constantly
Lombardy, one of the most developed in touch. Over the past week, Mr. Fon-
Italian and European regions. The fact tana's associates and my associates
that Lombardy is one of the most de- individual projects and presented Vo- have discussed a whole range of is-
ITALY 2021
veloped Italian and European regions jvodina in Lombardy. sues. The conclusions are very concrete
is a strong signal and reliable sign of Although the Covid-induced crisis, - to continue nurturing contacts, to
Vojvodina's intention to use experienc- which has been going on for a year and connect our respective development
es, knowledge, models and examples a half and which first emerged on Eu- agencies, to establish closer coopera-
from the truly efficient practice of or- ropean soil in Lombardy, has slowed tion between scientific institutes and
Focus
ganizing primarily economic activities, down our cooperation, we are very op- to find additional topics of common
but also all other areas of life in Lom- timistic about it in the future and have interest during our frequent contacts.
bardy. The most important issues cov- new projects on our common agenda. During my stay in Milan, Lombardy, I
16got an impression that Mr. Fontana and not alone in moments of great crisis were a good signal for a large num-
his associates are sincere friends of our and great challenges. Serbia showed ber of investors to come here to in-
country and reliable partners of Vojvodi- that it was able to act effectively and vest and create new jobs. But that's
na and that through the concretization to protect its own people, on the one not enough. Our goal in Vojvodina is to
of our cooperation we will be able to hand, which could be seen in a very effi- bring down unemployment even more
improve some of its forms and define cient procurement of protective equip- in the next five or six years, from the
them in line with our common interests. ment and the latest medical devices- current rate of around 9% to between
from across the world. The Vojvodin- 4.5% and 5%, or, expressed in absolute
I think you have already answered ian Government also donated 25,000 numbers, from the current 100,000 to
the following question but how can euro as a gesture of friendship, soli- less than 50,000 unemployed people,
the two provinces improve their co- which happened last time in 1989, al-
operation further? beit in different socio-historical cir-
I would like to add that we are inter-
WE WILL CREATE cumstances. To achieve that, we will
need the help of Italian partners and
ested in an even stronger presence ADDITIONAL new investors. We are ready, we have
of Italian businesses in Vojvodina, as
well as in technology transfer in spe-
PREREQUISITES FOR overhauled and build new industrial
zones, the ones we did not have five
cialized areas, such as agriculture, sci- SMALLER ITALIAN years ago, such as the zones in Šid, Kula
entific and technological activities re-
lated to biotechnology, in contacts re-
COMPANIES TO COME and Bačka Topola, and to expand the
Pančevo industrial zone.
lating to the development of activi- AND INVEST IN LESS With the implementation of new in-
ties that will be carried out under the
auspices of our university and the Sci-
DEVELOPED PLACES frastructure projects, such as the Fruš-
ka Gora corridor, the Belgrade-Zrenja-
ence in Technology Park, after we fin- nin-Novi Sad motorway and the fast
ish equipping the Park in autumn of road from Sombor to Kikinda, which
this year. We are also interested in cul- darity and sincere hope that the crisis will all be completed in the next three
tural cooperation because important in Lombardy will be overcome. These to five years, we will create additional
European cultural institutions are lo- days, following the reports from Lom- prerequisites for smaller Italian com-
cated in Milan and other cities in Lom- bardy, I saw that more than four million panies to come and invest in less de-
bardy, while the most important and doses of Covid vaccine were adminis- veloped places that are located near
oldest cultural institutions in Serbia tered in that region, which means that these roads and possibly employ be-
are located in Novi Sad. Lombardy has managed to vaccinate a tween 100 and 1000 people per project.
large number of its population out of So our common goal is to contin-
The Government of the Republic of a total of 10 million in a short time. As ue this process, but with much better
Serbia and the Vojvodinian Govern- a result, the situation is much better, promotion of our country’s potentials,
ment sent aid to Italy when the coun- and we hope that our help has con- in order to boost its economic growth,
try needed it most. How important tributed to that. increase exports, especially of agricul-
is this type of cooperation between tural products, also in the segment of
the two countries and what does it What can Vojvodina and Serbia do the joint engagement in the process-
demonstrate? to improve their economic environ- ing of these products. We see a great
ment to attract even more investors opportunity in that. The Italian part-
The aid sent by the Government of the from Italy, but also increase domes- ners have extremely powerful tech-
Republic of Serbia, which is much more tic exports? nology, especially for the processing
generous than the aid we sent, demon- of agricultural products, so we will
strated the strength and ability of Ser- First of all, the political stability and look for such solutions in the future,
bia to help our friends but also express significant efforts invested in the mod- also via the influence of the regional
our solidarity and show that they are ernization of infrastructure in Serbia authorities of Lombardy.
AGREEMENT
ITALY 2021
The most important issues covered
by the agreement relate to
economic cooperation, connecting
the respective chambers of
commerce and businesses and
Focus
attracting direct investments.
17OUR AMBITION IS TO BE A LIFELONG
CORPORATE
PARTNER TO OUR CLIENTS
Once they forge a
partnership with Generali
Osiguranje, we want our
clients to say that they
would use this type of
insurance as long as they
live. This is the loftiest goal
in insurance, namely that
Generali is the first thing
that comes to client’s mind
when they decide to buy
insurance
nine months later, it was directly impact- it has responded to clients' demands to
DRAGAN FILIPOVIĆ ed by the virus. This year, we are moving be fast, efficient and helpful in selling our
Chairman of Generali Osiguranje Srbija in the opposite direction, as things are products at a distance, meaning digital-
Executive Board at the moment. There is a strong prob- ly. But most of the insurance companies
ability that the last three months of this have enabled clients to report damag-
“G
year will be unscathed by the corona- es themselves and have their claims liq-
enerali Osiguranje is an virus, and we cannot wait to see some- uidated and paid remotely, which was
international company thing like that happening. The results ac- something we could have only dreamed
based in Italy, which is also complished by the insurance sector in of up until last year.
our dominant market. This the first quarter of this year and those
means that the Italian spirit prevails in achieved in the same period last year What results did Generali Osiguran-
all 50 countries that we do business in. are uncomparable. je achieve?
Italians are direct communicators, both — We are very pleased with the results.
in life and business and in that, they are Last year, we were the most profitable
PILLARS
similar to people in Serbia. This year, our insurance company on the Serbian mar-
company celebrates its 190th anniver- ket for the tenth consecutive year. We
sary, and we want to show and remind I keep saying that a satisfied are leaders in life insurance with a mar-
everyone of the strength of our brand,” employee and a satisfied ket share of about 30%, and for 15 years
Dragan Filipović, the Chairman of the customer are the two pillars in a row, we have been leaders in health
Executive Board, says in his interview insurance with a 40% share. I am under-
for InFocus Italy. for the success of any lining the timeframe of 10 and 15 years
company on purpose because it shows the con-
How would you rate the first half of stancy and sustainability of a certain
ITALY 2021
this year in terms of the insurance sec- result, which is the line in our strategy
tor? How much has Covid-19 changed What is certain is that all the process- that promotes sustainable growth and
the insurance business? es related to digitalization and automa- sustainable profitability.
— Regarding the first quarter of 2021, I tion have been greatly expedited, that We have recorded the consistency of
like to compare last year and this year people have worked more from home results and success thanks to all of our
Focus
in the following way – in the first quar- than they ever planned to and that they 2,000 employees who have been under-
ter of last year, the market was devoid can quickly adapt. The whole insurance going training and education, are com-
of the coronavirus’ influence, and only industry has been pushed forward and pletely dedicated to their work, are pro-
18ductive and make a great contribution ranje Srbija is proud to have made it — We are very proud of and we enjoy
to the overall results of the company. available to its clients in the same way. this partnership which is in its fourth year.
The idea is to help families who cannot
The global economic crisis has expe- In late 2020, Generali Osiguranje Srbi- fund the development, upbringing and
dited the need for digitalization. How ja received prestigious awards for its education of their children in the right
did you adjust your business to the outstanding relationship with clients way, through educational conversations.
current trends? and associates. What does this mean Together, we organize forums with psy-
— Our industry will always depend on for you, and what for the company? chologists throughout our country where
human contact. Insurance requires the — It means a lot to me personally, since families with different personal experi-
trust and contact between two people I am the head of the company, but I see ences are exchanging experiences and
- a sales agent and a client. No matter the company as a family so I like to say have conversations. We give personal
how far digitalization goes, that ultimate that I am the first among equals. All contributions and exchange ideas too.
judgment gained from physical contact those awards we receive only encour- That shine in the eyes of the participat-
will always be important. But the back- age us to persevere on our path and to ing families and their gratitude for help-
ground processes can and should be continue improving. I keep saying that a ing them to raise their children proper-
digitized. Process digitization enables satisfied employee and a satisfied cus- ly regardless of their financial situation
our agent to be closer to the client, to tomer are the two pillars for the suc- are invaluable. We feel great satisfac-
be able to tailor the product to the cli- cess of any company. tion when we see that.
ent’s needs on the spot, to issue an in- This exceptional partnership has also
surance policy quickly and to respond been recognized at the Group level. We
to the client’s request quickly. That is JUBILEE have been awarded for everything we
the essence we are working on. have done in the previous three years
We were able to switch to remote We will launch a big global and we will keep on doing what we have
work very quickly only because, three group campaign, followed been doing. Worldwide, Generali wants
years, ago we allowed our employees by a local one that will to help the communities in which it op-
to work from home twice a week, as we erates. We have long been recognized
were keen to create a work/life balance usher us into the jubilee as a company that competes not only
for our staff. Back then, we developed a celebration how much profit it will make but also
good infrastructure so when the corona- how many good socially responsible
virus hit, we did not find ourselves in a projects it will launch and implement.
big problem. In practice, instead of 100 Our employees, who have daily con-
employees, we quickly switched 1,000 tact with our clients, are our company's In 2021 Generali celebrates its 190th
employees who worked remotely. We ambassadors. They are the true image anniversary. How do you plan to mark
also automated many other process- and mirror of our company, and my task it? How does it feel to work for a com-
es before the onset of the pandemic. and role are to provide them with the pany that has been in business for
However, the coronavirus accelerated ambience and atmosphere which encour- 190 years?
their application and forced us to fur- age them to develop, to feel passionate- — 2021 is a jubilee year for us. Working
ther improve these processes. For exam- ly for their work, to love the company in a company that has existed for 190
ple, four robots processed over 14,000 in which they work and to be focused years is not a small thing. The world went
damage claims last year. These robots on customer satisfaction. through a lot in those 190 years and our
did not replace humans - they just took Our ambition is to first have satisfied company has managed to overcome all
over those repetitive jobs that people employees who will transfer their ener- that together with the rest of the world.
do day in and day out. And we trans- gy and satisfaction to the client. A lot We not only survived but became strong-
ferred those workers to do other, more needs to be done to achieve that. We er and stronger. This April, I celebrated
creative jobs. conduct surveys every two years with ten years of me working for Generali, so
We were also the first insurance com- over 200 questions among our employ- I have contributed 10 to those 190 years.
pany on the market to enable our clients ees about the degree of satisfaction We have a lot of plans on how to cel-
to report the damages by themselves. they have with the company they work ebrate the jubilee. We will launch a big
For instance, when a client is involved in for. The answers we get are a roadmap global group campaign, followed by a
a car accident, all they had to do was to for steps to take in the next two years local one that will usher us into the ju-
ITALY 2021
follow our 5-6-step-instructions via mo- to improve everything our employees bilee celebration. This will be a brand
bile phone to record the damage which have given us. campaign that will demonstrate the
was then sent via the application to our strength of our brand and remind peo-
centre. Once that is done, we enter the How does Generali Osiguranje man- ple of the strength of our company be-
record of the damage into our system, age to take care of all this? You also cause partnering with Generali, a finan-
assess it and pay the client out. These have successful cooperation with No- cial institution that has existed for 190
Focus
are the things that exist in modern coun- vak Djoković. Tell us more about that years, is no small thing. It shows stability
tries of the world, and Generali Osigu- cooperation. and promotes trust with our clients.
19THE ITALIAN
INTERVIEW
INVESTMENT
HOTSPOT
by Mina Vučić
PATRIZIO DEI TOS
President of Confindustria Serbia
Italian and Serbian companies have
been working together to overcome the
pandemic’s consequences and form a
stronger entrepreneurial environment
he President of Confindus- es overcome this crisis as quickly as the market and generating those in-
T tria Serbia, Patrizio Dei Tos,
is looking forward to eco-
nomic growth in the near
possible?
This is a very interesting question for
vestments which is the main way our
companies will grow and develop and
be better prepared to face everything
future, in the post-pandemic period. us entrepreneurs because today, more that comes their way. I also want to
Italian companies in Serbia have been than ever, we need support to main- add that my instinct tells me that af-
developing with numerous new sec- tain the workforce. I believe the main ter the Covid-19-induced crisis, econ-
tors opening, thus enhancing further focus should be on financial aid as we omies will start booming and grow-
expansion. Our journalist Mina Vučić have a lot of companies in the develop- ing, so being prepared to face what is
had the great opportunity to interview ment phase seeking new investment coming next is very important for the
the President of Confindustria Serbia opportunities. Unfortunately, the cur- companies. If we help and support
for the sixth edition of Italy InFocus rent financial aid from the government companies now to invest and be pre-
magazine dedicated to the Italian might not be sufficient enough to give pared to take off once again after the
economy in Serbia and discuss the cur- that courage to companies to invest. pandemic, this will guarantee success
rent Serbian-Italian relations and plans. If companies start investing, they are in the near future. Lastly, financial aid
surely going to have a spot in the mar- is something that Serbian institutions
How do you evaluate the economic ket but most importantly, they will cre- should emphasize to help generate
cooperation between Italy and Ser- ate new jobs. Therefore, in my opinion, investments and help companies be
bia, especially during the pandemic? the focus today should be on boosting better prepared for what’s to come.
Firstly, the cooperation between our Many Italian companies came to the
two countries has always been very Serbian market and created a large
good and professional. I have to thank I AM GLAD TO SEE THAT number of new jobs. What is Confin-
Serbia for vaccinating nearly every-
one in our executive office and in our
SERBIA HAS MADE dustria’s role in all of this? Also, could
you tell us what were the main prob-
board, making our relations even more GREAT STRIDES WITH ITS lems that companies faced in 2020?
valuable. Obviously, people’s mobility VACCINATION SCHEMES
ITALY 2021
is the biggest problem at the moment. Our job is to accompany businesses,
However, I must admit that Serbian in- AND THIS PROVIDES US not only during their market entry
stitutions have always been prepared ALL WITH GREAT HELP, phase but also during their entire life
to solve the difficulties in the fastest cycle. Hence, it is important for us to
and most professional manner. STABILITY AND HOPE FOR nurture great relations with all the in-
Focus
A BETTER FUTURE stitutions we work with. We push the
What else could the Serbian govern- companies forward and support them
ment do this year to help business- in their decision- making, therefore it is
20in our best interest to have strong re- of more sustainable energy as well due to the immense bureaucratic ob-
lations with the Italian Embassy and as waste recycling, is something that stacles, rivalry and administration in
other institutions in Serbia. The main needs to function properly in the fu- Italy that really trains you for any oth-
issues we faced in 2020 were the mo- ture. Digitalization is another sec- er market. What I think Serbs can also
bility of our employees, specifically tor of development that is trending learn from us is innovation and creativ-
in Italy, as the country was kept un- around Europe and Serbia is facing ity and using them within the set lim-
der strict lockdown and restrictions the same demands. These two sec- its. Likewise, Italians can learn from
throughout the year. I hope that Ser- tors have to grow and will have vital Serbs about rigidness and organiza-
bian tourists will be able to come to importance in the future of the coun- tion which is very important in our en-
our country sooner rather than later try’s economy. trepreneurial world. Overall though,
since tourism is one of Italy’s biggest both countries have very similar char-
and most important economic sec- acteristics and friendliness which cre-
tors. I am glad to see that Serbia has ates a healthy working environment
made great strides with its vaccina- BOTH COUNTRIES and hopefully, this will continue in
tion schemes and this provides us all
with great help, stability and hope for OPERATE SERIOUSLY the future. Although it is a very differ-
ent market, I would like to take small
a better future. AND PROFESSIONALLY and medium-sized Serbian business-
As far as Italian investors are con-
WHICH HELPS DIFFERENT es to Italy and push them to grow and
develop there. I think it is always bet-
cerned, what are the greatest advan- PROCESSES AND CREATES ter to have a lot of smaller businesses
tages of investing in Serbia?
OPPORTUNITIES FOR that operate in different sectors than
a big company which only supports a
I always first analyze the problems NEW GROWTH AND certain industrial segment.
that we face in Italy. Entrepreneurs
in Italy, unfortunately, face very diffi-
DEVELOPMENT What projects will Confindustria im-
cult bureaucratic measures. Here, in plement in 2021 and what will you
Serbia, the government has been cut- focus on?
ting red tape and bureaucratic proce-
dures are much simpler, as the coun- How do you cooperate with the Ser- An idea which emerged a few years
try is smaller and younger and has a bian institutions and are you satis- back and unfortunately got stalled by
completely different dynamic. The re- fied with the cooperation? the current situation in the world, is
lations and negotiations with institu- to support companies in their efforts
tions are also faster and more efficient I can say that, fortunately, I’ve experi- to staff and employees training for the
which leads to easier problem-solv- enced very professional and transpar- market of the future. We also want to
ing. Looking at Serbia through an en- ent relations with the Serbian institu- help new investments in companies in
trepreneurial lens, we have succeed- tions, which allowed me much faster every direction. We cannot forget that
ed in forming and opening companies decision-making processes overall. we are living in a very globalized world
much faster. If we have any upcoming Serbian institutions operate seriously and it is impossible to grow a company
projects, we start implementing them and professionally which helps differ- without properly preparing and train-
more efficiently and concretely. More- ent processes and creates opportuni- ing all of the employees which run it. I
over, the land here is very fertile, and ties for new growth and development. would say digitalization is also on our
the quality-to-cost ratio is quite strong. All in all, it has been very satisfying. list, and further development of the
Plus, the workforce availability is good, energy sector, which is something Eu-
and you have excellent managers and What can Italian companies learn rope is currently focusing on.
skilled labor which gives investors a from Serbian and vice versa? What
great advantage here. connection do you feel to this Why is the new edition of Italy In-
country? Focus important for Confindustria?
Can the cooperation between the
two countries further grow and if I made a lot of friends in Serbia. I enjoy I believe that communication is impor-
‘yes’, in which segments? my time here very much as it was very tant for any company, as well as to be
ITALY 2021
easy for me to fit in. Quite frankly, I first able to publicly show whatever they
There is always space for improve- made friends and then companies, so are doing. We are thankful to you for
ment. From what I’ve seen and ana- these friendly relations were of great this opportunity. We are now able to
lyzed so far, the production of sec- help. The Italian market is very compet- inform the audience about our activi-
ondary raw materials in Serbia could itive and it is very difficult for entrepre- ties that are in our focus and who we
generate much-needed growth and neurs there. If you manage to launch a cooperate with, which is very impor-
Focus
development. The Serbian energy sec- business in Italy, you’ll be apt enough tant. You are our source of communi-
tor, which also entails the production to launch it anywhere else in the world cation and thank you for it.
21BANCA INTESA - THE BEST
CORPORATE
BANK IN SERBIA 2021
Comparing 2019 against
2020, our retail business
jumped by almost 12%, with
our housing loans portfolio
increasing by more than
17% and our cash loans
portfolio by close to 9%
become our clients’ and partners’ first-
choice bank. All the recognitions we had
pleasure of being awarded with we per-
ceive as a crown of our success, confir-
mation for the years of dedication and
commitment to our goals, but also as
a motivation that is paving our way to-
wards further achievements. Through-
out the last 15 years, Banca Intesa has
been recognized by leading internation-
al financial magazines such as Global Fi-
nance, Euromoney, The Banker, Finance
Central Europe, and the like.
AMBITION
Banca Intesas’s ambition is
to become the bank of first
alize their plans. In addition, Bank In-
choice for our clients and
DRAGINJA ĐURIĆ tesa has won numerous world awards. partners
CEO of Banca Intesa We talked about the successful opera-
tion of Bank Intesa with Draginja Đurić,
B
who has been the head of the Bank since The prestigious Global Finance mag-
anka Intesa has a leading posi- 2001, first as the General Manager, and azine award - „The Best Bank in Serbia
tion in the Serbian market for since 2005 as the President of the Ex- 2021“, which we have received for the
ten years, where it has gained ecutive Board. sixth time additionally confirms our
ITALY 2021
the precious trust of 1.34 mil- leading position across all key indicators
lion clients. Through a network of 155 This March, you won your sixth award of success. We are extremely proud of
branches in almost 100 cities in Serbia, as Serbia’s best bank. How important this award especially under the circum-
that employs over 3,000 people, Bank is this to you? stances of overall changed conditions
Intesa encourages companies and en- — Ever since Banca Intesa established in the global economy, while constantly
Focus
trepreneurs in development projects, its presence in the local market, the driv- improving our business model through
helps families and young generations ing force leading us to head the bank- digitalization in order to adequately
to protect and increase savings and re- ing market has been our ambition to respond to the growing demands of
22all customer segments and maintain a options for our employees and made of the banking market started in the pre-
high level of their satisfaction. This year products and services available to cit- vious period and further growth of dig-
our achievement was even more com- izens and the economy. The situation ital services and innovation. Banks will
plete, taking into account that our Par- seriously affected change in customer strive for a personalized approach that
ent Company, Intesa Sanpaolo, also re- behaviour, as well as their preferences will lead towards the best possible user
ceived the award for „Bank of the Year when it comes to interaction channels experience, in order to meet the expec-
in Italy" in 2021. with the bank. This highlighted the im- tations of their customers and provide
portance of digitalization of the bank- them with financial stability in the on-
What results have you entered 2021 ing operations, bearing in mind the fact going uncertainty.
with and what do you believe are your that the recommended measures of re- As for Banca Intesa, the main focus
biggest challenges this year? duced social interaction have led to a will be the implementation of the digi-
— Banca Intesa stepped firmly in the lead significant increase in the use of digital tal platform, which envisages an exten-
into 2021 in the Serbian banking market channels. In that sense, I expect that sive path towards the introduction of a
with high liquidity and a strong capital the pandemic will encourage banks to complete digital customer journey. The
base, best shown by its loan-to-depos- make additional efforts towards further digital transformation program provides
it ratio of 78.5% and capital adequacy transformation of their business models new Omni-channel approach: new online
of almost 20% at last year's end. We in order to remain relevant in the new and mobile applications for individuals
managed to achieve growth in place- banking ecosystem. and legal entities, a new application for
ments, which contributed to — on the branches and the introduction of a pa-
one hand — recovery in economic ac- perless concept, a new Bank web site
tivity and — on the other — to further SUPPORT and a new, improved CRM solution and
improving the quality of life of citizens integration with direct channels.
in these times of crisis. Comparing 2019 Banca Intesa implemented
to 2020, our retail business jumped by a loan programme with You have been the head of the bank
almost 12%, with our housing loans port- since 2001, first as its general manag-
folio increasing by more than 17% and a state guarantee and er, and since 2005, as the chairman of
our cash loans portfolio by close to 9%. allocated more than the executive board. Given that you
When it comes to corporate banking, 300 million euros for the have the opportunity to cooperate
Banca Intesa once again maintained its with Italian businesspeople, how would
leading position in the Serbian market,
support you rate the Italian–Serbian relations?
with our loan portfolio growing by 8.3%, — Traditionally, Serbia has a very in-
while our offering expanded to include tensive and strong relationship with It-
new loan products. Furthermore, the Serbian Govern- aly. Recently, we celebrated 140 years
Banks will most certainly remain the ment has extended the support for en- of diplomatic relations between Rome
main support for companies and private trepreneurs and small and medium en- and Belgrade, as well as ten years since
individuals in the coming period, as well terprises as a priority step at the very the establishment of the strategic part-
as strong partners to the government in onset of the pandemic. I believe those nership of the two counties. According
preserving economic stability and over- measures were very important in main- to the data of the Serbian Development
coming potential challenges. In an envi- taining economic activity under the new Agency, Italy is a leading investor in Ser-
ronment of low interest rates, the main business conditions, especially for small bia, the biggest investor in terms of FDI
challenges for the banks will be to fo- businesses and SMEs, which have been investments and the second biggest in-
cus on customer needs while increasing exposed the most to the blows of the vestor in terms of the number of imple-
operational efficiency and organization- crisis, but which should be the main mented FDI projects. Almost 600 Italian
al resilience through risk management, drivers of economic recovery in the companies operate in Serbia, employ-
capital base strengthening, and techno- post-pandemic period. As the country’s ing 39,000 people mostly in finance, in-
logical innovations. largest bank and leading creditor, Ban- surance, and the manufacturing indus-
ca Intesa actively implemented a loan try: automotive, textile, leather, wood
How has Covid-19 affected the bank- programme with a state guarantee and processing, etc... In addition to the dec-
ing sector? allocated more than 300 million euros ades-long successful cooperation with
— Despite of all the challenges, the Ser- for the support. Serbia and significant subsidies offered
ITALY 2021
bian banking sector entered the pandem- by our state, Italian investors are often
ic era much stronger than it had been What new trends await us in the bank- drawn by the geographic vicinity of our
at the start of the global financial crisis ing sector and Banca Intesa in particu- market and logistics advantages, as
over ten years ago, with adequate capital lar? What are your plans for the com- well. Banca Intesa is a proud member
and liquidity buffers. Since the onset of ing period? of the Intesa Sanpaolo Group, one of
the pandemic, our absolute priority was — I am convinced that the most impor- the largest banking groups in Italy, with
Focus
to protect our customers’ and employ- tant trends in the local finance sector a long-standing presence in Serbia as a
ees’ health — we offered remote work will certainly remain the consolidation top-of-mind bank for the last 15 years.
23You can also read
