Slovenia - Small Country Of Great Value 2020

Partner

2020

SLOVENIA Dejan Vladić, Minister Counsellor, Slovenian Embassy to Serbia ● Aleksandar Radovanović, Head of the Regional Cooperation Center of the Serbian Chamber of Commerce ● Danijela Fišakov, President of the Slovenian Business Club (SBC) ● Branko Greganović, CEO, NLB Banka ● Velimir Kuzmanović, Director at N.T.S. d.o.o. ● Igor Likar, Managing Director, SIQ

SMALL COUNTRY OF

GREAT VALUE

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INTERVIEW

DEJAN VLADIĆ, MINISTER COUNSELLOR, SLOVENIAN EMBASSY TO SERBIA

CAUTIOUSLY

Optimistic

People in both Slovenia and Serbia are very motivated and eager to resume their work from where they left it at the end of February. Our annual trade exchange amounts to 1.5 billion euros and I expect it to stay at the same level this year, while increasing again in the next year

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he pandemic has been a global occurrence, hitting all the economies of our intertwined world hard. Given that Slovenia is an export-orientated economy, exporting more than 80% of what it produces, it is immersed in global value chains and has thus been hit by the global crisis.

“It is believed that our economy will shrink in 2020 by between 5.5 and eight per cent. The European Commission predicts a seven per cent dive of our GDP in 2020, and growth of 6.7% in 2021. The EBRD predicts a fall of 5.5% this year and growth of five per cent next year. The IMF and the Slovenian Office for Macroeconomic Analysis predict that Slovenia's GDP will shrink by eight per cent , while in 2021 our economy should grow by five per cent,” says Dejan Vladić, Minister Counsellor at the Embassy of Slovenia to Serbia. “Therefore,” he notes, “there is no correct answer what shape Slovenia's economy is in exiting the quarantine. Some industries, such as tourism, have been struck more, while among companies it is the self-employed that got hit the hardest. Others have come through it in a fair state.”

The economy would have been worse off if our economy hadn't prepared well for the next meltdown after the financial crisis of 2008, concludes our interlocutor.

To what extent did the rapid financial assistance provided by the Government and through EU channels help in the preservation of jobs and liquidity?

- In order to control and mitigate the consequences for the economy, the Slovenian Government adopted intervention measures aimed at preserving jobs, improving the people's social situation, providing emergency assistance to self-

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employed persons, keeping businesses operational, improving liquidity and providing aid to agriculture.

Assistance was timely and effective, especially for those in dire need, such as the self-employed, for whom the government covered basic monthly incomes amounting to 70 per cent of net minimum wage, writing off contributions and suspending the prepayment of income tax. In order to keep businesses operational, government assistance provided for all contributions to pension insurance for employees.

In order to improve the liquidity of businesses, the government offered purchasing claims against Slovenian companies, suspending the prepayment of corporate income tax and the payment of self-employment income tax, reducing deadlines for payments to private suppliers in the public sector and redirecting unused ESF funds.

To preserve jobs, government measures were set to co-finance wage compensations, provide for the rewarding of employed persons and activated sick pay and additional funds for already subsidised employment in critical sectors during the epidemic. The government stepped in to secure the status of employees who are unable to work due to force majeure, providing unemployment benefits from the first day of unemployment, waiving the payment of fees for public services and providing a solidarity bonus for pensioners. Assistance was also offered to the agriculture sector.

Which industries that are important for our two countries could recover first?

- Slovenian and Serbian exports are both strong in machinery, transportation, metals, chemicals, plastics and rubber produc-

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tion. Those industries prepared well for the crisis and have been recovering first, but those supplying the automotive industry are now struck with reduced demand. the financial sector, such as banks and insurance companies, are among the first to exit the quarantine, and importantly are strong, too.

Are there estimations about the impact of the pandemic on the mutual exchange of goods and services between Slovenia and Serbia?

- It is always unfair to predict anything, but due to pandemic measures our borders were closed for a few months, people were not as active as before and were mostly isolating themselves, resulting in lost months that will definitively reflect in a reduced trade exchange. But I believe we can be optimistic when it comes to economic recovery. The crisis hit us due to non-financial reasons, and brought business activities almost to a standstill overnight. People in Slovenia and Serbia are very motivated and eager to resume their work from where they left it at the end of February. Our annual trade exchange amounts to 1.5 billion euros and has been growing consistently each year, and I expect it to stay at the same level this year, while increasing again in the next year.

It is hard to be optimistic when it comes to tourism this year. Tourism between Slovenia and Serbia has been growing annually by ten per cent and the pandemic will surely cut these numbers.

In 2018, 138,000 Serbs visited Slovenia and this will hardly be the case in 2020, since the borders were closed and the Slovenian border still remains closed, with some exceptions.

In the recent past many Serbian citizens headed to Slovenia to find better paid jobs. How will the current situation influence the demand for Serbian workers in the period ahead?

- I believe that Slovenia has been appealing to Serbian workers traditionally, as well as vice versa; Slovenian companies have been pleased to employ Serbs due to their professionalism, warmth and dedication. This will remain the case. Closed borders left many workers outside their borders and workplaces. Slovenian companies are now expecting Serbian workers to return. Demand for workers

Slovenian companies are now expecting Serbian workers to return. Demand for workers has not changed, especially in tourism and industry

What are the most important issues now when it comes to the restoration of regular business activities between our two countries?

- Regular business activities will be possible with the reopening of the borders. Serbia's border is now open for foreigners; there are no conditions to enter Serbia, except for being healthy. That is not the case with the Schengen border, where restrictions, conditions and exceptions still apply. My experience tells me that people from Slovenia and Serbia are eager to travel, meet and cooperate. I am seeing again an influx of Slovenians coming to Serbia on business, while unfortunately it is still not possible for the Serbian business community to travel on business to Slovenia. I believe this will change soon, though, when numbers of those infected daily with Covid-19 in Serbia remain low for some consecutive days.

has not changed, especially in tourism and industry.

What are the most important diplomatic activities when it comes to the restoration of economic activities between the two countries?

- During the isolation period I realised that it is important to keep contacts alive. Another task was to mitigate between Slovenian and Serbian businessmen when they were unable to travel and meet in person. Namely, online connections are nice to have, but we all agree that it is impossible to strike up new business deals without personal contact. Trust is a shy animal and it is tamed with personal contact and time. We were also in regular contact with state institutions when it comes to restrictive measures and the easing of travel restrictions.

For the restoration of activities after the crisis, diplomats need to scan the whole horizon, check the situation on the ground and plan for meetings to work on open issues, plan for establishing new acquaintances and plan, together with the business community, for new projects in a changed environment. Diplomats also need to be slightly pushy while at the same time safe, and to motivate people to emerge from their trenches and resume their activities where they left them.

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BUSINESS

BRANKO GREGANOVIĆ, CEO, NLB BANKA

OUR HOME

Is In This Region

NLB Banka is certainly among the most important Slovenian-owned companies operating across the entire region, including in Serbia. Based on the agreeent signed between the headquarters of the NLB Group and the Government of the Republic of Serbia on the purchase of shares of Komercijalna Banka, NLB Banka is expected to gain even more importance

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he "Frame of Help" project is set to be launched soon, with the aim of providing assistance to SME companies and entrepreneurs in the region which had their operations disrupted by the pandemic. We want to help them more easily reach their costumers, says NLB Banka Beograd's CEO. What are your expectations for the Serbian market in the period ahead?

- On the one hand, the period that's ahead for all of us certainly isn't an easy one. Behind us are two months of a state of emergency, uncertainty and limited business activities, especially in certain industries, while ahead of us is a period in which it is necessary to relaunch the economy and revive the companies that have been hit hardest by the consequences of the Coronavirus pandemic. All this is happening under unclear circumstances and uncertainty, because we don't know what awaits us in the autumn, not only at the local level, but also regionally and at the global level given that both the Serbian and Slovenian econimies are dependent on international business partners.

On the other hand, the fact that the Government of the Republic of Serbia recognised us as the most suitable strategic partner for Komercijalna Banka will certainly change a lot when it comes to our approach to the Serbian market. Like our members operating in other markets, NLB Banka will become a systemic bank in Serbia, and that not only means a significant increase in market share, but also carries an additinoal responsibility for the stability of the Serbian financial system.

We must be even more ready to support clients, to recognise their needs and respond in an adequate way and we will also have to assume a significant role in the wider community as

one of the most important participants in the market. This applies even more to us who are a part of the regional group which is headquartered here and has a sole strategic focus on this region which as we like to say is - our home.

What are you planning in this regard? How will you support the economy in the period ahead?

- First and foremost, we've joined the financing programme in accordance with the Decree of guarantee scheme of the Government of Serbia, within the scope of which we provide support to entrepreneurs and SMEs, and within the framework of this programme we've already approved significant number of loans to companies that need support at this juncture. We also participate in the programme of subsidised loans of the Ministry of Agriculture, Forestry and Water Management, in which we've had a leading position in the previous period, a position we plan to retain.

Moreover, we just launched the ninth NLB Organic competition, through which we will this year again provide support to three farming families. We generally consider that organic producers deserve a special support, because they engage in sustainable production that contributes to human health and the preserving of natural resources. That is why we believe that they need support even more at this moment.

In addition to this, we are also launching the Frame of Help project, the implementation of which has already begun in Slovenia, and will be launched also in other markets of NLB Group's operations in the coming weeks. This project aims to help entrepreneurs and small companies in the region who have seen their operations disrupted by the pandemic and who we want to promote, to help them reach their customers and grow their business.

We've also focused on supporting the economy in the domain of CSR during this period

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BUSINESS

ALEKSANDAR RADOVANOVIĆ, HEAD OF THE CCIS CENTRE FOR REGIONAL COOPERATION

STRONG INTEREST

In Cooperation The pandemic hasn't reduced the interest in cooperation between our two economies

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lthough the pandemic in the first three months of the current year resulted in exports from Serbia to Slovenia decreasing by about 14 per cent and imports increasing by 22 per cent, it is expected that the return to normality will see intensive cooperation between the two countries completely renewed.

Bilateral relations between Serbia and Slovenia are assessed by both sides as being good and stable. They are characterised by Slovenia's continuous support to Serbia's European integration process and mutual interest in the further development and advancement of economic cooperation.

Business cooperation between Serbia and Slovenia has shown a trend of increasing trade exchanges in the past few years, by an average of about seven or eight per cent annually.

The total trade exchange between Serbia and Slovenia last year amounted to 1.15 billion euros. Exports to Slovenia in 2019 reached a value of 580.7 million euros, while imports from Slovenia increased slightly in 2019 and reached a total of 576.9 million euros. Thus the trade surplus in 2019 amounted to six million euros, with Serbia recording a trade surplus with Slovenia for the second consecutive year.

According to the data of the Statistical Office of the Republic of Serbia, Slovenia ranked 10th in Serbia's total realised global exports in 2019, while at the level of imports it ranked in 13th place. Slovenia is Serbia's 9th partner worldwide in terms

of total trade exchanges globally. In the previous year, Serbia mostly exported to Slovenia dialysis equipment, electricity, hand tool parts, aluminium alloy products, conductors, parts for rail vehicles and parts for car seats. Meanwhile, in 2019 we imported from Slovenia medicines, parts for cooling devices, cars, parts for rail vehicles, washing machines and copper scrap.

In the first three months of this year, according to the Statistical Office of the Republic of Serbia, exports from Serbia to Slovenia fell by about 14 per cent, while imports increased by 22 per cent, thus creating a significant negative foreign trade balance compared to the first quarter of 2019. The deficit in the trade exchange between Serbia and Slovenia in the first quarter of this year, which amounted to about 38 million euros, is a result of the Coronavirus pandemic and the measures introduced to protect against the spread of infection, which caused a standstill in goods movements in the second half of March 2020.

A total of 4,409 Serbian companies did business with Slovenia in 2019, with 1,388 of them only exporting to this market, while 2,218 only imported goods from this market and 803 traded in both directions.

According to data from the Business Registers Agency of Serbia, until the beginning of May this year some 1,203 business entities with owners who are citizens of Slovenia, or which represent legal entities registered in Slovenia, were registered in Serbia.

The number of Serbian companies operating in Slovenia is increasing every year, while the sectors in which they operate are diverse, from agriculture and the food industry, to information technology, tourism and hospitality

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According to the records of the Chamber of Commerce & Industry of Slovenia, in 2019 some 2,063 business entities with a majority owner that is a legal entity registered in Serbia, or with a majority owner who is a Serbian citizen, were registered in Slovenia.

Total net investments of Slovenian residents in Serbia in the period from 2010 to 2019 amounted to 628.08 million euros, which ranks Slovenia in 9th place among the countries with the largest net investments of non-residents in Serbia during that period.

The number of Serbian companies operating in Slovenia is increasing every year, while the sectors in which they operate are diverse, from agriculture and the food industry, via information technology, tourism and hospitality, to transport and infrastructure projects.

Serbian companies are increasingly present in Slovenia's tourism and hospitality sector, which represents a very important economic sector for this country and provides numerous possibilities for advancement. MK Group is the owner of the Kempinski Hotel, while it also has a stake in Portorož Airport, and Delta Holding owns the Intercontinetal Hotel in Ljubljana.

One of the biggest Serbian investments in Slovenia is that of company Comtrade, which operates in the information technology sector. MK Group also owns AIK Bank Slovenia and has plans to also expand its operations in other sectors in Slovenia.

Bačka Palanka-based company Nektar has been known to Slovenian consumers for years, while company Agromarket from Kragujevac sells seeds and planting material on the Slovenian market, either from its own production range or from the renowned world producers that it represents.

Company Put inženjering opened a representative office in Krško. It specialises in performing works, constructing facilities and supporting infrastructure, producing stone aggregate, concrete and prefabricated elements, as well as transport and the provision of equipment hiring services.

One example that we are very proud of is the fact that company Zlatiborac, from the small town of Mačkat, has been a supplier of Slovenian supermarket chain Mekator since February 2020. Small Serbian family companies, through the brand “Tastes of my region”, successfully entered the Slovenian market in cooperation with Mercator.

The Chamber of Commerce & Industry of Serbia opened an office in Slovenia at the beginning of 2019, which is available to

both Serbian entrepreneurs interested in entering this market and to numerous Slovenian companies that already operate in Serbia or plan to do business in our country.

Throughout the state of emergency that was caused by the Coronavirus pandemic, the Chamber of Commerce & Industry of Serbia was approached on a daily basis by a large number of companies that needed to find a way to send their workers to Slovenia to fulfil business agreements. A significant number of companies from Slovenia, via the Chamber of Commerce & Industry of Slovenia, also showed an interest in maintaining business ties during the crisis and realising the obligations they have to companies from Serbia.

Serbia also has significant potential when it comes to providing services, construction and other professional works, assemblies, repairs and installations of machines and devices for partners from Slovenia.

After the opening of the borders of the Republic of Serbia and the announced easing of the transporting of passengers from third countries to Slovenia, we expect all Serbian companies to be able to fulfil their agreed business obligations towards Slovenian partners, and vice versa.

At the end of 2019, the Chamber of Commerce & Industry of Serbia, the Chamber of Commerce & Industry of Slovenia and the Embassy of Slovenia in Serbia jointly created the Initiative for joint research and appearances of the Republic of Serbia and the Republic of Slovenia on the African market. The crisis caused by the Coronavirus pandemic will lead to this study being postponed for a while, but certainly represents one of the more significant areas of potential for the development of the economies of our countries.

During the pandemic, the Chamber of Commerce & Industry of Serbia and the Chamber of Commerce & Industry of Slovenia actively helped businesspeople to maintain business ties and realise obligations taken on even during the crisis

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BUSINESS

VELIMIR KUZMANOVIĆ, DIRECTOR AT N.T.S. INTERNATIONAL

CONSTANTLY

Expanding Portfolio NTS is a company that has spent more than 15 years creating solutions to support the planning and managing of transport and logistics processes. Operating from five distinct centres, it has more than 50 employees and a strategic plan to expand its market and cooperate with the most successful companies

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ur solutions enable the complete visibility of the process in real time, the planning of processes, tracking the implementation of plans, route optimisation, i.e. the use of transport capacities, communication and remote access to data from vehicles, notes Mr Kuzmanović

You work in IT solutions for transport and logistics, GPS systems, vehicle tracking etc. How quickly are things changing in these areas? What will the future bring?

- For more than 15 years to date, NTS has been creating solutions to support planning and management processes in transport and logistics. It is a great challenge to be part of such a dynamic branch of the economy as logistics. New technologies, new trends, globalisation and great unpredictability ensure that we must be flexible and work constantly on improving our solutions.

With dedicated work, an innovative approach and the knowhow that NTS possesses, we have recorded enduring, healthy and continuous growth in every country in which we operate. Longterm cooperation and partnership relations with clients is what characterises NTS, and that is they path we strive to pursue.

We have no fear of changes and that which lies ahead for us in the future, because we are already working proactively on the development of solutions that have yet to be implemented. Our mission is to provide solutions that will increase efficiency and safety in transport and logistics, while reducing their harmful impact on the environment, on which we place special emphasis.

What are your most sought-after services? Do they allow your customers to fully manage their fleet of vehicles, while gaining insight into costs and all other aspects of fleet usage?

- NTS's client base includes more than 1,300 companies operating in various sectors, so the portfolio of services is extremely wide-ranging. The demands of the market have 34

long since surpassed mere vehicle tracking, with the focus now having shifted to more complex solutions that imply an all-encompassing service of planning, managing, administering and analysing all aspects of a vehicle fleet. The structure of clients includes companies that deal with international transport, distribution, passenger transport services, production, agriculture, construction, as well as emergency and courier services, security services, the service and public sectors, tourism, financial institutions and the like.

Controlling the use of vehicles and assessing the way they are used, along with financial savings, has a significant preventative impact on safety in transport, but also on reducing its negative impact on the environment. I would like to emphasise in particular the development and improvement of TMS solutions, which represent a complex tool for supporting processes in logistics.

Your company covers Bosnia-Herzegovina, Croatia, Montenegro, Albania etc., while in the end there are also Serbia and Slovenia. How would you evaluate cooperation between these two countries? What is the best bridge between Slovenia and Serbia?

- NTS operates from five hubs: Ljubljana, Belgrade, Banja Luka, Podgorica and Tirana, with a staff of more than 50 employees. We are also present in other European countries and our strategic plan is to expand our market and establish cooperation with the most successful companies, both on the domestic markets and on the EU market.

NTS is certainly one of the bridges that connects Slovenia and Serbia successfully. Within the scope of the company, we exchange knowhow and experiences on a daily basis, striving to improve teamwork. Numerous international acknowledgements and shared results are precise consequences of our dedication and togetherness, which are also our main driving force.

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BUSINESS

IGOR LIKAR, MANAGING DIRECTOR, SIQ

Widest Range Of Testing And

CERTIFICATION SERVICES With a wide range of comprehensive services, SIQ supports organisations in their endeavours to realise their goals relating to the quality of their products and services, and to increase the productivity and efficiency of their operations

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or more than 50 years, SIQ has cooperated with organisations in their endeavours to enter markets, increase productivity, improve quality and reach excellence.

For this issue we spoke with the company's managing director, Igor Likar.

What are the main advantages of SIQ? - SIQ is quite exceptional in the global market, as we are an institute that offers the widest range of testing and certification services among all competitors. The reputation of our brand, which we have been building for decades through high-quality work and the integrity of our service, literally translates to positive business results and enables stability. Our revenue growth has been steady since 1992, with an average annual growth rate of 12 per cent during this period.

How did you end the 2019 business year and how are you managing this year’s global health crisis?

- In 2019, SIQ increased its sales revenue on the global market by 7.7%, to 19.1 million euros. We generated 55 per cent of revenue on foreign markets, the most in Germany. Our greatest achievement regarding exports last year was the fact that we performed at least one service for clients from 63 different countries. We achieved a turnover of over 100,000 euros in 17 countries. We signed a multi-year contract with one of the world's largest manufacturers of gaming devices, Aristocrat, the potential of which in the next five years is revenue estimated in the amount of at least two million euros. SIQ is thus further strengthening its position as one of the three largest gaming laboratories in the world. In the field of gaming device verification, for example, we are practically the only provider in the world in terms of the complete solutions we offer, while we are the third largest global provider in terms of how many different jurisdictions around the 36

world recognise the results of our verifications. This year has been marked by adapting to emergencies. With the outbreak of the Coronavirus pandemic in Europe, problems with medical equipment supplies demonstrated the importance of local knowledge and production. Quite a few companies are planning to launch the production of medical ventilators and will entrust us with the certification process. We already generate more than a tenth of our revenue by testing medical devices. This was our fastest growing area of business in 2019. We last year generated more than 1.7 million euros in revenue from the testing and certification of medical devices, which equates to a 30 per cent increase compared to 2018. The medical equipment sector is growing due, on the one hand, to the ageing of the population and, on the other, technological advances in medicine. Certification procedures in this field are particularly demanding and time-consuming, lasting from six months to more than three years, depending on the type of product. That is why companies are not stopping procedures even now, during the Coronavirus crisis. We believe that we have an additional market opportunity in this area, and we intend to seize it.

How competitive is the EU market in the field of medical devices?

- European competition is decreasing in the field of medical devices, but is becoming tougher. The EU has in recent years tightened conditions for notified bodies for medical devices. There were 90 such organisations in Europe in 2015, while now there are 55.

The EU is tightening conditions in terms of staff, knowledge and experience, and the new rules prescribed by European Medical Device Regulation 2017/745 (MDR) will enter into force in May next year. To date, 44 bodies have applied for appointments under this Regulation. We are among them and are sure that our application will be resolved positively by the time the new rules come into force.

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SLOVENIAN BUSINESS Club Activities

The Slovenian Business Club in Serbia represents an inextricable bridge between the economies of Serbia and Slovenia, with the mission of continuously improving cooperation between the economies of the two countries, as well as regional links Through the organising of informative and educational events, exchanges of experience and the creation of conditions for connecting business leaders, the SBC has stepped

securely into its 17th year of successful operations and continues to address new challenges together with its members, associates and friends.

May 2020 ONLINE PANEL DISCUSSION - INDUSTRY VS CORONA – THE DAY AFTER

topic of the seminar was jointly presented to attending business leaders by JPM representative Jelena Nikolić and State Secretary Bojana Stanić, together with colleagues from the Ministry of Labour, Employment, Veterans and Social Affairs.

For the sixth consecutive year, and for the first time online, the SBC organised a panel discussion, this time entitled “Industry vs Corona - The Day After”, held under the patronage of the Embassy of the Republic of Slovenia. The participating panellists - representatives of companies ETI, RLS, Merilna tehnika, Grah Automotive, FMT and EXOR ETI Srbija – presented their experiences from the period of the Coronavirus pandemic, as well as their expectations regarding the direction in which things will developing moving forward, following the end of the pandemic and the restoring of normal life.

March 2020 SEMINAR - JPM LAW OFFICE AND THE MINISTRY OF LABOUR, EMPLOYMENT, VETERANS AND SOCIAL AFFAIRS The SBC, in cooperation with the German-Serbian Chamber of Commerce and the Chamber of Italian-Serbian Businessmen, organised a seminar on the topic “New Law on Agency Employment”. Hosted by the Janković Popović Mitić Law Office, the 38

INTERNATIONAL COFFEE BREAK – KOPAONIK BUSINESS FORUM

The SBC, in cooperation with 10 bilateral organisations in Serbia (the Belgian-Serbian Business Association, BritishSerbian Chamber of Commerce, French-Serbian Chamber of Commerce, Hellenic Business Association of Serbia, DutchSerbian Business Association, Croatian Business Club, Japanese Business Alliance in Serbia, The Chamber of Italian-Serbian

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Businessmen, the German-Serbian Chamber of Commerce and Confindustrija Srbija), organised the “International Coffee Break” under the auspices of the Kopaonik Business Forum, held at the mountain resort's Grand Hotel & SPA and bringing together over 80 businesspeople.

January 2020 WORKING BREAKFAST - ASEE

other important economic institutions in the country. The evening began with a performance of Italian songs by opera diva Marija Kašćelan. The sponsors of this gathering included SBC member companies: ODI Law Firm, Aktiva varovanje d.o.o.

Belgrade, Akton Serbia, CorD Magazine, BTS SER Company, Cablex, Cash Back Imo, DonDon, DRGilbert centre group, ETI B, Focus Factor Plus, Grah Automotive, Halcom a.d. Belgrade, Impol Seval, JUB Boje, Moj Upravnik, N.T.S., Profil Group, Prvi faktor, Ream, Celjske mesnine, Radgonske gorice, Podrum Panajotović, Roto Group, Sava osiguranje, Tab Batteries and Joint Law Office TSG. November 2019 SEMINAR – DATA

The SBC, in cooperation with it member ASEE, organised a working breakfast on the topic “10 ways to kill a company if you are sufficiently persistent?”.

December 2019 WELCOMING THE NEW YEAR

The SBC, in cooperation with its member company Data and with the support of the Embassy of the Republic of Slovenia to Serbia, organised a seminar entitled “Slovenian business environment and business migration”. The seminar's 140 participants were familiarised with the procedure for opening a company in Slovenia, changes to legislation for obtaining work permits in Slovenia and the EU for citizens of Serbia, applicable tax breaks etc.

The SBC marked another successful year of continuous and stable growth at Belgrade's Hyatt Regency Hotel. The event was attended by over 200 guests, including numerous SBC members, friends of the club, representatives of the Embassy of the Republic of Slovenia in Serbia and representatives of

October 2019 SPEED BUSINESS MEETING The SBC, in cooperation with the German and American chambers of commerce, the Japanese Business Alliance and the Canadian-Serbian Business Association, organised the

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The SBC initiated a unique exhibition entitled “Slovenian Showroom”, at which Slovenian companies presented themselves. Here a large number of businesspeople were able to use advertising material, catalogues, leaflets etc. to better inform themselves about the products and services of exhibiting companies, as well as tourist offer of Slovenia, presented through promotions materials of the Slovenian Tourist Organisation.

September 2019 SEMINAR - JSP LAW OFFICE

sixth consecutive “Speed business meeting”, with a total of 56 participating companies. The event was held at Belgrade's Hyatt Regency Hotel, which was also a partner of the event.

MARTINOVANJE

The SBC, together with the German-Serbian Chamber of Commerce, the Canadian-Serbian Business Association and the Swiss-Serbian Chamber of Commerce, supported the seminar “Serbian GDPR - New Rights and Obligations”, organised and staged by SPC member law firm Joksović, Simić & Partners.

Martinovanje, St Martin's Day, a traditional Slovenian holiday celebrating young wine, was marked in Belgrade for the sixth time. Slovenia is promoted every year within the scope of Martinovanje as a tourist destination, with the presenting of various regions and cities. The hosts of Martinovanje 2019 in Belgrade included the SBC, the Tourist Organisation of Portorož and the City of Piran, with a total of 250 guests welcomed. A promotion of the local cuisine and wines of Piran and Portorož was supported by company MK Group. This evening was also sponsored by SBC members: Triglav Osiguranje, Diplomacy & Commerce and DHL Serbia.

WORKING MEETING WITH THE MINISTER OF FINANCE OF THE REPUBLIC OF SERBIA

SLOVENIAN SHOWROOM The SBC hosted Serbian Finance Minister Siniša Mali.

Business leaders were addressed by SBC President Danijela Fišakov and Slovenian Ambassador to Serbia H.E. Iztok Jarc.

In his presentation, Minister Mali, among other things, assessed economic and political cooperation between Serbia and Slovenia as having never been better, with Slovenian investments in Serbia growing constantly year on year, such that Slovenia is today among the ten largest investor countries in Serbia.

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INTERVIEW

DANIJELA FIŠAKOV, PRESIDENT OF THE SLOVENIAN BUSINESS CLUB (SBC)

HIGH

Expectations

We Expect The Continuation of Dialogue Between the Business Community and the Government

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e justifiably expected tangible support from the Government of Serbia and we received it in the greatest volume. However, some of our members require specific assistance measures and the SBC will advocate for such measures in its contacts with the government.

“We can hardly wait to again start organising events like we've done over the previous 17 years,” says Danijela Fišakov, president of the Slovenian Business Club. Despite the fact that there won't be a return to the pleasant atmosphere of joint SBC gatherings prior to September, both the Club and its members have coped well in the newly emerged circumstances of online work and, above all, protecting the health of employees. Moreover, in these times of trouble, friendships have been strengthened and ties between members and friendly chambers have been fortified.

How have your members coped with the pandemic?

- When a state of emergency was declared in Serbia, our members first prescribed measures relating to the health and safety of employees, and then implemented those measures consistently.

The result of the implementation of those measures is that none of our member companies became a hotbed of infection. That was the top priority for everyone, and that fact deserves to be specially emphasised. Work from home for employees was organised by all those whose organisation of work processes enabled that. I am most proud of the fact that great solidarity has been present among members and could clearly be felt.

The members kept up to date with exchanging information and

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experiences, both mutually and via the SBC, thus helping each other to overcome the newly emerged problems.

How effective and timely were the Serbian Government's measures for helping the economy?

- As soon as the newly emerged crisis became evident, the Slovenian Business Club, together with other economic and business associations, chambers, societies and clubs, addressed the Ministry of Finance - on behalf of all businesspeople in the Republic of Serbia - with a joint request to ease the operations of companies during the state of emergency by reducing some obligations and postponing others. We justifiably expected tangible support from the Government of Serbia and the Government adopted our suggestions to the greatest extent. It grouped the measures it would take in nine points and began implementing them consistently, as announced. The government's measures taken during the state of emergency significantly eased business operations, primarily micro businesses and SMEs, i.e. those that are the most vulnerable in such situations. Business leaders assess these economic intervention measures as being excellent for alleviating the first shock. However, they are linear and relate to the broadest set of economic entities. Some of these businesses have nonetheless been hit by additional specific problems as a result of the pandemic. The Slovenian Business Club is already doing, and will in the future continue to do, everything it can to help its members overcome these problems. In this sense, the SBC is already insisting on some additional and specific measures with the Serbian authorities.

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How was your cooperation with the Government of Serbian and other chambers in the previous period? Were you able to provide members with precise interpretations of the measures introduced and to obtain the necessary permits?

- I can only praise the work of state services during the state of emergency, and especially the Chamber of Commerce & Industry of Serbia, which provided real support to companies and business associations the whole time. The information we received from state institutions was always clear, timely and useful. The good relations we've nurtured over many years with other foreign chambers and clubs came even more to the fore in this situation, because we all shared information and helped each other. In times of trouble one recognises true friends, and this period showed that the SBC has many of them.

What do your members now expect from the Government of Serbia? Which second phase measures would be the most important for the recovery of economic activities?

- Our members, primarily and without exception, expect a continuation of the dialogue between the business community and the Government, and then also concrete moves of the Government that would further stimulate economic recovery. Of course, businesspeople are aware that they must be rational in their demands and expectations.

It is clear to them that the Government can intervene and relinquish part of its income only as much as the budget allows, and that the economy is actually the factor that contributes the most to that budget being filled. With the aim of overcoming the situation as completely as possible and alleviating the difficulties it has caused, the business community and the Government must – as in all other life situations – find the right measure in this and complement each other and cooperate mutually.

the Slovenian Business Club and the Embassy of Slovenia will continue along the upward trajectory that it was on during the terms of previous ambassadors.

How have you adapted the SBC's activities to the new conditions of communications and operations? Which topics will be in your focus?

- First of all, the most important thing in this situation was for us all to stay healthy. Only a healthy person can work, love, and even argue, engage in conflict etc. In accordance with the instructions of the medical profession and the orders of the authorities of the Republic of Serbia, the activities of the SBC have been adjusted, or slightly amended, since the beginning of the state of emergency. We temporarily halted the organising of events and

I am proud of the solidarity between members, who exchanged information and experiences with each other and via the SBC, thus helping each other to overcome the newly emerged problems

On which issues have you cooperated the most with the Embassy of Slovenia?

- Given that in recent months there have, understandably, been no activities related to new investment projects in any of our countries, we cooperated the most with the consular department of the Embassy of Slovenia, or Consul Mr Primož Križaj, on the solving of problems related to the departures of employees in our member companies from Serbia and their arrivals in Serbia.

Unfortunately, Slovenia hasn't had an ambassador in Serbia for half a year already, which was contributed to additionally by the Coronavirus outbreak. We hope that the newly appointed ambassador will soon begin his term in Serbia; that the newly emerged situation will not deepen and that cooperation between

meetings requiring the physical presence of participants. This activity will continue in September. And even before this crisis, the SBC had already adjusted many of its activities to the standards of Industry 4.0.

We were already working from home when needed, were personally available over the telephone for at least eight hours every day and utilised social networks and email intensively. And now, as in regular situations, we regularly monitor all relevant content and information, and inform the membership about them in a timely manner. What's new is that we additionally organise webinars and internet conferences covering current topics, in order to remain in interactive contact even in these new times, and to maintain connections among members and the flow of information as much as possible. Our activities on networking and connecting members, providing contacts and working oneon-one will continue intensively, using the possibilities provided for us by modern technologies. As has been the case to date, we will select topics on the basis of the business environment in Serbia and, of course, on the basis of the needs of members.

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TOURISM

MEDITERRANEAN

& Karst Slovenia Global surprises from salt pans to karst caves

PIRAN, PHOTO BY JACOB RIGLIN

T

he Mediterranean & the Karst in Slovenia merge the wonders of the Karst and the taste of traditional sea salt. Coastal towns show their beauty in the sun, green Istrian rural areas are home to original cuisine with olive oil and wild plants, Brda and the the Vipava Valley are home to world famous wines, while the Karst uncovers the secrets of caves which are among the most visited in Europe.

This area is also home to famous white Lipizzaner horses.

PORTOROŽ – PIRAN The very centre of social events on the coast and one of the most beautiful historical Mediterranean towns, connected by the story of salt.

Portorož and Piran are surrounded by salt pans on both sides. The high value of the famed salt enabled the rise of picturesque Piran in medieval times. In today’s cosmopolitan Portorož salt makes up a big part of the range of wellness

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services offered, which is regarded as one of the most comprehensive in Europe KOPER This picturesque historical town with its own green surroundings is a bridge between the Karst and the SubMediterranean world.

Koper is a town of a hundred suns which adorn the medieval Venetian palaces. The sun warms up the lagoon of the Škocjanski Zatok Nature Reserve with hundreds of birds, the Karst Edge and world famous climbing areas. Istrian cuisine draws you to numerous events.

ANKARAN A green and healthy starting point to explore Slovenian Istria.

Ankaran is famed for its pleasant climate. Boasting one

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KOPER, PHOTO BY JAKA IVANČIĆ

ANKARAN, PHOTO BY JAKA IVANČIĆ

NOVA GORICA, PHOTO BY ALEN KOSMAČ

GORIŠKA BRDA, PHOTO BY MICHAEL MATTI

of the largest RV camps in Slovenia, Ankaran is a town that brushes against the Debeli Rtič Landscape Park.

KARST The world of underground wonders, stunning natural phenomena and unique tastes.

The Karst surprises with Postojna Cave, which is the most visited cave in Europe, Škocjan Caves with an extraordinary underground gorge and other world famous special features.

Lipica has been the original stud farm of white Lipizzaner horses since 1580. Štanjel is the architectural gem of the Karst. Delicious fare can be found along the Brkini Fruit Road and the Karst Wine Route.

NOVA GORICA AND THE VIPAVA VALLEY The land of unique vines and first-rate cuisine between the Alps and the Adriatic Sea Nova Gorica and the Vipava Valley are the intersection of two worlds and different cultures. The wine growing region inspires with its gastronomy, and the city offers entertainment with its casinos

POSTOJNSKA JAMA, PHOTO BY IZTOK MEDJA

IZOLA, PHOTO BY JACOB RIGLIN

BRDA Sun-kissed wine country between the Alps and the Mediterranean Welcome to this sunny and sweet part of the world, to a region of invigorating moments! Kick back and relax with a glass of lovely regional wine and get ready for a culinary extravaganza as you attend the traditional festivals, wander through romantic villages or roam amongst the vineyards, olive groves and orchards.

IZOLA Enter the world of fish and get in touch with the authentic Mediterranean!

The small seaside town grew on a former island. Even today it reflects the close bond its people have with the sea.

Izola beckons: walk along its charming streets or get in on some fun water activities on one of the beaches here. The Strunjan cliff is the right place to experience pristine nature, whereas the verdant cultivated hinterland is well known for its exquisite grapes and olives.

Source: Slovenia.info 45

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BUSINESS

ASSEMBLY AND PRODUCTION COMPANY JEDINSTVO, SEVOJNO

TRADITION, EXPERIENCE And Quality

MMP Jedinstvo from the town of Sevojno is one of Serbia's most successful companies. Six subsidiaries operate within its framework, thanks to which they can use their own resources to perform even the most complex works under the scope of their activities in the country and abroad

M

PP Jedinstvo, Sevojno, a public joint stock company with a tradition dating back more than 70 years, is one of the leading companies in the field of hydrotechnics, water management, gasification, heating, drinking water supply systems, industrial wastewater management, the construction of outdoor installations, all types of construction works and steel structures... With the expanding of the group's activities to encompass road construction, gas distribution, iron casting, vehicle maintenance and repair, as well as other areas, MPP Jedinstvo now achieves a total consolidated annual turnover exceeding 80 million euros.

This company has in the last few years invested more than 15 million euros of its own reserves in new equipment, the construction of production plants and the purchasing of other companies. Thanks to its vast potential, Jedinstvo has for decades been an indispensable contractor on capital facilities in Serbia, such as the water factory in Užice, the water factory on Lake Skadar covering the entire Montenegrin coast, water supply and water treatment plants in Vranje, Pirot, Kruševac and Aranđelovac, and on Zlatibor and Kopaonik mountains.

Jedinstvo is currently working with consortium partner MHPS from Japan to carry out works on the flue gas desulphurisation plant at the Nikola Tesla Thermal Power Plant in Obrenovac, which has a contracted value of 95 million euros, while the company is also engaged in the construction of

several border crossings, a shopping centre and the office buildings of RTV and Delta Holding, factories for ammunition packing, gondola lifts on Zlatibor and numerous other facilities and plants.

Thanks to the fact that Jedinstvo is ready to undertake the most complex interventions in the construction domain, that it is able to quickly realise any contracted job, that is has an exceptional team of managers and employees who are top professionals in their work, it also carries out a lot of works abroad. Over the past 30 years, Jedinstvo has performed works on the most important facilities in Russia, such as the Central Bank of the Russian Federation in Moscow, the Regional Court in Krasnodar, the residences of the Russian Patriarch and President Putin, facilities for the Winter Olympics in Sochi and the Skolkovo University Science Centre in Moscow, while the company is also proud of the numerous projects it has implemented in Montenegro over the past 10 years.

As company representatives point out, none of this would have been possible without professional, qualified and motivated workers. More than a thousand full-time employees and 350 temporary staff work at Jedinstvo and all of its subsidiaries. It is thanks to all of them that the company can perform the most complex undertakings in its areas of activity through the utilising of its internal resources, because, as company leaders note, investing in human resources has been, and remains, its basic commitment.

Thanks to constant annual investments of two to three million euros, the company has the most modern plants and equipment at its disposal

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FOOD

TOP 10

Traditional Slovenian Foods

As a small country, Slovenia has a lot of traditional foods, that differ greatly from one another. You can get Slovenian food and home-made products in a market place and in specialised stores. Products such as, top quality cheeses and dairy products, cured meat products, high quality wines, schnapps, as well as, honey. Furthermore, Slovenia has one of the richest beekeeping traditions in the world, producing truly the best quality honey

F

or starters, we introduce you the well-known Slovenian food below.

1. KRANJSKA KLOBASA (CARNIOLAN SAUSAGE) Carniolan sausage is the most known Slovenian food, that has been named »kranjska« for the first time in 1896, and then became protected in 2015. It originated in Gorenjska region, from where it has grown across the whole Slovenia. The storytellers of old Ljubljana consider it as an important part of the menu at ceremonial and important events. This protected Slovenian

food is smoked and must contain at least 68% of pork, 12% of beef, and no more than 20% of bacon.

(Alpine Slovenia, Gorenjska) 2. POTICA Potica is the most typical Slovenian dessert made of dough and filled with various fillings. We know more than 80 different types of fillings, from which tarragon (»pehtranova«), walnut, cracknels (»ocvirki«) and poppy seeds are the most famous.

(Central Slovenia) 47

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3. PREKMURSKA GIBANICA (PREKMURIAN LAYER CAKE) Prekmurian layer cake is a juicy dessert, stuffed with poppy seeds, cottage cheese, walnuts and apples. The funny literal translation of this Slovenian food is actually “Over-Mura Moving Cake”, but the popular translation is Prekmurian Layer Cake. It is also protected by the “Recognised trademark of traditional reputation”, so it can only be manufactured under this name after the original recipe.

(Pannonia Slovenia, area of Prekmurje) 4. KRAŠKI PRŠUT (THE KARST PROSCIUTTO) Another very famous Slovenian food is the Karst Prosciutto.

Prosciutto is a top product of the centuries-old tradition of salting and drying meat on the Karst bora. It is on the air-dried pork thigh, that goes well with a glass of Teran or red Karst.

(Slovenia’s sea side, area of Karst) 5. ŠTRUKLJI Štruklji is another traditional Slovenian food made from a dough and filled with variety of fillings. They can be eaten as an individual dish or a side dish. They can be prepared from different types of dough, baked or cooked, salty or sweet.

The best known Štruklji are made of cottage cheese, tarragon (»pehtranovi«), walnuts, apple or poppy seeds.

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They are a “must try” when you visit Slovenia.

(Central Slovenia) 6. ŽGANCI Žganci is one of the simplest and most popular Slovenian food. Especially those made from buckwheat flour and richly dressed with cracknels. They are also considered a typical Slovenian farm dish. However, if you leave out the cracknels, you get a very healthy dish that goes especially well with sour milk, mushroom soup, cabbage or a chicken stew. (area of Koroška) 7. JOTA (YOTA) Our grandmothers loved to cook Jota. As there were fewer foods in the winter the housewives had to be quite clever with the use of the ingredients. Turnip, cabbage, potatoes and beans were very common residents of the home cellar, as they could be prepared in many ways. That is why, today

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Jota is available practically in any mountain cottage and can be saved in a freezer for days.

8. MOČNIK Močnik is an old Slovenian food that originated in the Lower Carniola (Dolenjska) kitchen. They made it from various types of flour. Most popular Močniks’ are milk, buckwheat and corn.

In some places, they also stir them into a clear soup.

9. PREŽGANKA (»PREŽGANA ŽUPA«) Prežganka is a soup, made by roasting and browning the flour, adding the water and salt, and once it boils, a scrambled egg is added. It is a typical dish of Trieste countryside. However, they also make it across the whole Slovenia as a dietary supplements for digestive disorders.

10. ŠTEFANI PEČENKA Štefani pečenka is a meat loaf with hard boiled eggs, that is very easy to make. It is a classical Slovenian food and especially welcomed during certain holidays (e.g. Easter Holidays).

Source: GreenHills.si

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