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Operations Manual for a Regional Property Development Fund, Serbia

Project: Operations Manual for a Regional Property Development Fund, Serbia
Completion Date: 2007
Client: Multilateral Investment Guarantee Agency (MIGA)
Services Provided: Identify and describe the main locations within the designated regions that have potential to receive FDI in the short term; Determine the adequacy of the current legal and institutional framework for industrial park development in Serbia and where barriers are determined to exist; Recommend remedial measures and Identify location, infrastructure, market, financial and other constraints to operating such industrial parks; and Recommend remedial measures where appropriate.

Project Description

The Regional Property Development Fund or industrial Zone and Technology Park Pilot Scheme is intended to improve the availability of serviced land for manufacturing and distribution ventures as well as modern office space for regional headquarters and providers of international tradable services. Land availability is currently one of the major weaknesses of Serbia as an investment location. The Serbian Government is addressing this issue by preparing changes to existing legislation and by introducing new legislation. However a scheme is also needed to encourage the predominantly public land owners or caretakers (municipalities) to service suitable land with utilities and to offer it on the market.

Towards this end, the scheme will establish a ‘Regional Property Development Fund’ (RPDF), including explicit cost-sharing and selection criteria.