The present climate for foreign investments in Serbia is not favorable in economic and financial sense, because of the bureaucratic problems and laws that are not foreign investments-friendly, said the Russian Ambassador to Belgrade Alexander Konuzin on Thursday.

He expressed his belief that the investment climate in Serbia will improve, although it is a time-consuming process. At an international conference dubbed 'Development Potentials of Foreign Direct Investments:International Experiences' organized by the Institute of International Politics and Economics, Konuzin emphasized that slow arrival of foreign investors in Serbia is also due to the unfavorable conditions of the past period. In most cases, the companies are already functioning and they are faced with problems, said the Russian Ambassador and added that his impression is that there is a lack of will to help those arriving in Serbia with investments.

Konuzin voiced belief that the situation will change, because, as he put it, economy should be above politics and also because this is in the interest of Serbia's government and the society as a whole.