The European Union is the leading donor and the most important trade partner of Serbia, with EU-based companies accounting for the largest share of investment in the Serbian economy. Removing obstacles for trade, investments from the Member States, and projects aimed at boosting the competitiveness of Serbian enterprises, improving the business environment, and spurring innovation have all contributed to job growth and development of the Serbian economy.
The EU supports Serbia's economic development by strengthening its private sector, small- and medium-sized enterprises in particular, which are essential for the country's economic growth and job creation. EU-funded projects in Serbia promote job creation, economic and technological development, and legislative framework improvement, all contributing to an improved economic landscape.
The EU promotes cooperation between science and economy, intending to encourage companies and science and research institutions and organisations to create innovative products with commercial potential. In 99 local self-governments, the EU offers direct support for business development to entrepreneurs, enterprises, and organisations in order to promote sustainability and competitiveness of enterprises and job creation.
By providing support to the National Employment Service, the EU supports active labour market policy aimed at hard-to-employ persons through incentives for the creation of new jobs, as well as by incentivising self-employment and offering job training in line with the labour market needs.
The EU supported business incubators in Serbia to strengthen their capacities. This way, beginners in business are offered support to create products and services of a higher quality to increase their competitiveness in domestic and international markets, increasing their export potential. In the Lower Danube region, the EU supports actors in the tourism sector and helps them to expand their economic and tourist capacity.
Furthermore, the EU supports the Government of Serbia in improving and modernising the existing legislative framework, applying current procedures transparently and efficiently, and adopting legal regulations and public policy to ensure further promotion and stimulation of the economic development of Serbia.
Small-and medium-sized enterprises and companies from Serbia can apply for funding via several projects and programmes, such as Procurement of equipment programme with Development Agency of Serbia, EUPRO, Innovation Fund, project focused on offering financial assistance for companies in the sector of culture and tourism. Numerous financial instruments and advisory assistance are also available via regional programme WB EDIF, "EU for Serbia—financing for SMEs," the European Investment Bank, and the EBRD.
