S&T Country Report - Albania - WBC-INCO Net

- Vojvodina Investment Promotion Fund (VIP Fund)
The Vojvodina Investment Promotion Fund was founded by the Parliament of the
Autonomous Province of Vojvodina, as an official regional investment promotion
agency with a mandate to provide support to foreign investors and facilitate their
business in Vojvodina. The VIP Fund became fully operational in December, 2004.
The specific goal of the VIP Fund is to facilitate FDI inflow into the region through
activities such as location marketing, investment climate benchmarking, provision of
assistance to potential investors with concrete investment projects and co-operation
with institutions specialized in the FDI promotion world-wide. VIP services to potential
and existing investors are free of charge. The VIP comprises two operational units:
the Vojvodina Investment Promotion Agency (VIP) and the Supportive Infrastructure
Fund (SIF).
Activities of the VIP Agency include:
- Advisory services assisting foreign investors in analyzing investment
decisions and establishing a business;
- ‘Aftercare’ services for existing investors;
- Location marketing; and
- Policy advocacy to improve FDI regulatory framework.
Supportive Infrastructure Fund (SIF):
- Inward investment cost-sharing scheme (Infrastructure incentive scheme);
and
- Development of business incubators and technology parks (inclusive of
business centres for foreign investors)
The project of establishment of three business incubators in AP Vojvodina was
initiated by the Executive Council of the AP Vojvodina, and the Vojvodina Investment
Promotion Fund is in charge of the project implementation. The goal of creating
business incubators in AP Vojvodina is development of small and medium
enterprises, which will improve competitiveness of local start-up companies,
strengthen cooperation among entrepreneurs and science/research institutions, and
create local capacities oriented toward more practical and innovative business
models. Certainly, the plans include development of self-employment through
development of business incubators, with support from institutions which will give
necessary expertise.
As part of the Integrated Regional Development Plan (IRDP), the BBI project
(Building Business Incubators) was created to establish and manage business
incubators in the region of Vojvodina with an aim to significantly support the socioeconomic
development process in the region, considering the development of new
businesses as a key factor for future economic growth in the region.
The BBI project is supported by the Serbian Agency for the Development of SMEs
and Entrepreneurship and therefore in line with the Serbian Government’s policy on
SMEs development and promotes following policy measures under the IRDP:
- Development of SMEs;
- Enhancing the R&D and business co-operation.
page 12/SRB