Deputy Prime Minister Verica Kalanovic announced today that $16.7 million will be invested for competitiveness of the Serbian economy over the next five years within the "Project for better business conditions."

She said that the project is implemented by the European Integration Office and the US Agency for International Development (USAID).

All three project components – regulatory reform in the economy, macroeconomic policy and public finance management and the development of financial markets, are aimed at improving the competitiveness of the domestic economy, she said.

She said this programme is in line with the new model of economic growth in Serbia until 2020, which is focused on increasing exports and investments in infrastructure and energy, the elimination of regulatory barriers and public sector restructuring and reindustrialisation.

Kalanovic pointed out that relations between the Serbian government and the United States entered a new phase of cooperation and that this project will help the successful implementation of reforms.

US Ambassador Mary Warlick said that her country strongly supports Serbia to become democratic and prosperous member of the EU, which is confirmed by the project for strengthening the competitiveness of the economy and strengthening the private sector.

Director of the European Integration Office Milica Delevic expressed hope that this project will improve conditions for business operation in Serbia.

She recalled that Serbia has signed free trade agreements with EU countries as well as with CEFTA countries.